Main Bearing Market Scope
Main bearings are roller-based, heavy-duty bearings designed to carry all cutter head loads and transfer them to the rear. Main bearings include gear and bolting and are specifically application engineered and optimized to meet application and specific demands. Main bearings are widely used in marine engines, heavy vehicles engine applications, and this is anticipated by the growth of the main bearing market in the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | SKF (Sweden), Schaeffler Group (Germany), NTN Corporation (Japan), NSK Ltd (Japan), Wanxiang (China), Nachi-Fujikoshi (Japan), GKN Plc (United Kingdom), Timken Company (United States), GMB Corporation (Japan) and Harbin Bearing (China) |
CAGR | % |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are SKF, Schaeffler Group, NTN Corporation, and NSK Ltd. Research Analyst at AMA estimates that Asian Vendors will contribute to the maximum growth of Global Main Bearing market throughout the predicted period.
SKF (Sweden), Schaeffler Group (Germany), NTN Corporation (Japan), NSK Ltd (Japan), Wanxiang (China), Nachi-Fujikoshi (Japan), GKN Plc (United Kingdom), Timken Company (United States), GMB Corporation (Japan) and Harbin Bearing (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are FKG Bearing (China), Harbin Bearing (China) and FKG Bearing (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Main Bearing market by Type , by Application (ICE Vehicles, Electric Vehicles, Industrial Machinery and Aerospace Machinery) and Region with country level break-up.
On the basis of geography, the market of Main Bearing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2020, SKF partnered with Deacero, which is a Mexican steel manufacturer, so as to improve their performance and reduce downtime at their steel rolling mill located in Celaya. The partnership was built on a fee-based set-up covering bearings, bearing remanufacturing, maintenance services, and application engineering and tools.
In December 2016,Building on its decades-long experience as one of the world’s principal suppliers of rolling bearings for drives found on wind turbines, NSK has now introduced large spherical roller bearings for use on the main rotor.
Influencing Trend:
Increasing Use of Main Bearing in Wind Turbine for Power Generation Application
Market Growth Drivers:
Rising Automotive and Marine Industry Globally and Increasing Demand of Main Bearing from Manufacturing Industry in Developing and Developed Economies
Challenges:
Main Bearing Damages Caused in the Electric Vehicles and Fluctuating Raw Material Prices
Restraints:
Robust Competitive Rivalry Might Stagnant Demand of the Main Bearing Market and High Maintenance Costs
Opportunities:
Technological Advancement and Design Development of Main Bearing
Key Target Audience
Main Bearing Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other