About Motor Bearing
Bearing is a machine element that constrains relative motion to only desired motion and reduces friction between moving parts. Motor Bearing is a vital component in automobiles and is responsible for the efficient and smooth running of the vehicle. Their major function is to enable linear or rotational movement along with handling high stress. With the outbreak of the COVID-19 pandemic across the globe, the automotive bearings market has been negatively impacted, as manufacturing units have been shut down due to the lockdown imposed in major countries across the globe. Although the unavailability of skilled labor has affected the market, it is expected to register significant growth in the near future, owing to a rise in vehicle sale and adoption of advanced technology-based bearing for various automotive components/applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Asian Vendors will contribute the maximum growth to Global Motor Bearing market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
JTEKT Corporation (Japan), Nippon Thompson Co., Ltd. (Japan), NSK Ltd (Japan), NTN Corporation (Japan), RBC Bearings Incorporated (United States), Schaeffler AG (Germany) and SKF (Sweden) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are THK CO., LTD. (Japan), The Timken Company (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Motor Bearing market by Type (Rolling Bearing, Sliding Bearing, Joint Bearing and Others), Application (Control Motor, Power Motor and Signal Motor) and Region.
On the basis of geography, the market of Motor 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Vehicle Type , the sub-segment i.e. Passenger car will boost the Motor Bearing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. OEM will boost the Motor Bearing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in trend of vehicle electrification and Increase in focus toward reduction of vehicle weight
Market Growth Drivers:
The rise in automobile production and sales and The increasing demand for vehicles and technological advancement
Restraints:
Fluctuating raw material prices and high maintenance cost
Opportunities:
The emergence of sensor bearing units and Increase in development of additive manufacturing technologies & materials to manufacture bearings
Market Leaders and their expansionary development strategies
In September 2021, SKF, a leading global supplier of bearings, sealing solutions, lubrication management, condition monitoring systems, and services has launched a new line of spherical roller bearings in North America. These bearings are specifically designed to increase uptime, lower production costs and reduce environmental impact for slab, billet and bloom continuous casting operations.
Key Target Audience
Manufacturers, Traders, distributors, and suppliers, Government and research organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.