Bearings are mechanical components that are used to reduce friction between two other mechanical components. The friction is converted from static friction into rolling friction because of the rolling motion of the bearings. The Bearings Market is extremely vast as it has a huge amount of end user Industries.

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Market Drivers:

The emerging demand for Bearings in Automotive, Aerospace and Railway Industries is the major driving factor of the market. Growing demand for auto components and automobiles is expected to fuel market demand over the forecast period. The increasing year on year automotive sales will have direct impact on the future market of bearings as they play vital role in either two or four wheeler vehicles.

• Rise in the number of commuters using public transportation is expected to be the Key Market Driver.
• Aerospace as of now is the smallest market but is expected to grow at a high CAGR in the forecast period 2014-2019.

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Market Segmentation:

The Bearing Market is classified into five major categories; by Type, by Load, by Motion, by Application and by Geography. The different types of Bearings are: Ball, Plain, Roller, Fluid, Magnetic, Jewel and Flexure Bearings. These Bearings are used differently for different purposes.

• The Roller and Ball Bearings specifically are the major product segments accounting for more than 60% of the market size.
• Radial Deep Groove Ball Bearing which is a type of rolling bearing accounts for more than 25% of the world’s Bearings Market share.

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The two different loads associated with Bearings are: Radial and Axial. The Bearings Market is also classified based on Motion into Axial, Spherical, Hinge, Linear and others. The Applications of Bearings are in multiple industries out of which a few are: Oil & Gas, Aerospace, Mining, Power Generation, Food Processing, Agriculture, Commercial Applications and the Automotive Industry. By Geography the market has been classified into Americas, Asia-Pacific, Europe and Rest of the World.

• China is the most dominant market in Asia-Pacific and across the world where Domestic manufacturers were dominating the market rather than International players

Market Growth:

The Global Bearing Market is expected to reach $120 Billion by 2020 with a CAGR 7.1% in the forecast period of 2014-2020 according to the Market Report by IndustryARC. The Roller Bearing Market specifically was around $45 Billion in 2013 and is expected to grow at a CAGR of 8% in the same forecast period. The growth can be accounted for by the increased Energy Efficiency Requirements by Industries as bearings have the ability of reducing friction to a minimum which in turn saves energy.

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Key Players:

The Key Players in this Industry are
• Schaeffler Group
• Timken Company
• Nippon Seiko K.K.(NSK)
• NTN Corporation
• Svenska Kullagerfabriken Aktiebolag (SKF Limited)
• JTEKT (Merger of the companies Koyo Seiko Co. and Toyoda Machine Works)

These companies account for over 50% of the Global Bearings Market Share.

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Other Key Players in the Bearing Market are making technological advancements like:

• Airwolf 3D, a company located in California, U.S. which recently launched 3D printed bearings for real time applications
• Boca Bearing Company, which launched new ceramic balls, stainless steel bearings, ceramic hybrid bearings, and full ceramic bearings for flow meter applications.

The report on the Bearings Market by IndustryARC provides a complete list of Key Players with their Product Portfolios, Financials and Developments.

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