Ceramic Bearings Market Scope
The increasing application of ceramic bearings in automotive and increasing demand for bearings in energy-efficient vehicles are the factors driving the market growth. The ceramics are primarily used in bearings owing to the material’s corrosion and temperature-resistant properties. Ceramics are inert, whereas metals are reactive which makes ceramics resistant to corrosive materials like seawater and many chemicals including acids and alkalis. Since ceramic bearings do not corrode, they require less maintenance than their steel alternatives and can be used in highly harsh environments.
The Leading players of ceramic bearings are focusing on strategic partnerships and new product launch to improve their products and services along with focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Ceramic Bearings market throughout the predicted period.
SKF (Sweden), Ortech Inc. (United States), Lily Bearing (China), Boca Bearings (United States), NSK (Japan), GMN Bearing (United States), CeramicSpeed (Denmark), Park Tool (United States), Jinan Junqing (China) and Haining Kove (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Enduro Bearings (United States) and LYZYC (China).
Segmentation Overview
The study have segmented the market of Global Ceramic Bearings market by Type (Zirconia Oxide (ZrO2) Ceramic Bearings, Silicon Nitride (Si3N4) Ceramic Bearings and Other), by Application (Automotive, Agriculture, Electrical, Medical, Mining & Construction and Railway & Aerospace) and Region with country level break-up.
On the basis of geography, the market of Ceramic Bearings 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).
Influencing Trend:
A rise in Demand in Railway, Aerospace and Other Applications
Market Growth Drivers:
Increased Application of Ceramic Bearings in Automotive and Increasing Demand for Bearings in Energy-Efficient Vehicles
Challenges:
Increasing Prices of Raw Material
Restraints:
Availability of Counterfeit Products
Opportunities:
Incorporation of Electro-Mechanical Features into Bearings for Medical Applications
Market Leaders and their Expansionary Development Strategies
In October 2019, SKF had acquired Presenso Ltd., which thereby developed and deployed AI-based predictive maintenance software. This, therefore, enables the production plants to find as well as act on anomalies that were previously difficult to detect.Acquisition of specialist in high-quality ceramic components is a valuable addition to Industrial division’s capabilities
In November 2022, The automotive and industrial supplier Schaeffler has signed a contract with the CERATIZIT Group for the acquisition of CERASPIN. Based in Livange, Luxembourg, CERASPIN has over 25 years’ experience in the development and production of premium ceramic products, the majority of which are processed into rolling elements for various bearing applications.
Key Target Audience
Manufacturers of Ceramic Bearings, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Ceramic Bearings, Automotive Industry, Governmental Bodies and Research Firms
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.