About Antifriction Bearings
The growing demand for Antifriction Bearings in the various end-user industry will help to boost the global Antifriction Bearings market in the forecasted period. An antifriction bearing, also known as a rolling contact bearing, is justified over a journal or fluid film bearing when very little friction is needed for low differential surface speeds. Antifriction bearings are essential to mechanized equipment; they hold or guide moving machine parts and minimize friction and wear. increased fundings in mining, infrastructure development, and construction activities have fueled the growth of the antifriction bearing market. Additionally, the demand for ball bearings is expected to increase during the forecast period, as heavy industry machinery uses high-performance industrial bearings to sustain heavy loads and reduce energy consumption.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 4.2% |
The global anti-friction bearing market is highly competitive and diversified due to the presence of a large number of regional and international players around the world. Also, various regional or local vendors are growingly finding it difficult to compete against international key players in terms of features, quality, functionalities, and services. Furthermore, factors such as product extensions, technological innovations, and mergers and acquisitions will further intensify the competitive environment in the market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Antifriction Bearings market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Federal Moghul Holding Corporation (United States), NSK (Japan), SKF (Sweden), JTEK (United Kingdom), NTN (Japan), Schaeffler (Germany) and Timken (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Antifriction Bearings market by Type (Ball Bearings [Deep Groove Ball Bearings (Open, Sealed), Others (Angular, Contact, and Thrust)] and Roller Bearings [Cylindrical Roller Bearings, Tapered Roller Bearings, Needle Roller Bearings]), Application (Automotive, Electrical, Agriculture, Mining & Construction and Railway & Aerospace) and Region.
On the basis of geography, the market of Antifriction 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). 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 Bearing Outer Diameter, the sub-segment i.e. Below 5mm will boost the Antifriction Bearings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand for Hybrid and Ceramic Bearings and The Rise in Demand for Application-Specific Bearings
Market Growth Drivers:
The Rising Demand from Commercial Aircraft and Increasing Demand in Mining & Construction Sectors
Challenges:
Rising Usage of Counterfeit Products
Restraints:
Cartelization and Heavy Competition
Opportunities:
Increasing Production of Commercial Vehicles and Growth on Automobile Industry
Market Leaders and their expansionary development strategies
In September 2023, SKF collaborates with Airbus to develop next-generation lightweight bearings for aircraft applications, aiming to reduce fuel consumption and emissions.
In October 2023, SKF introduces the Explorer range of high-performance, energy-efficient bearings designed for demanding industrial applications, featuring optimized geometry and advanced lubrication technology.
Key Target Audience
Antifriction Bearings MAnufactures, Antifriction Bearings Distributors, Antifriction Bearings Suppliers, Government Regulatory Bodies, Government Research Organizations, Private Research Organizations 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.