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NEW YORK, June 28, 2022 /PRNewswire/ — Bearings Market Share Expected to Increase by $11.02 billion from 2020 to 2025, and the growth momentum of the market will accelerate to a 3% CAGR according to Technavio’s latest market report. The bearing market is fragmented and sellers are deploying growth strategies such as organic and inorganic strategies to compete in the market. AB SKF, ASAHI SEIKO Co. Ltd., C&U Group, JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG and The Timken Co. are some of the major players in the market. attendees.

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Technavio has announced its latest market research report titled Bearings Market by Product, End User, and Geography – Forecast and Analysis 2021-2025

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Bearings Market 2021-2025: Scope

The Bearings Market report covers the following areas:

Bearings Market 2021-2025: Segmentation Analysis

  • Product

  • Final user

  • Geographical

Bearings Market 2021-2025: Regional Analysis

  • 56% of market growth will come from APAC during the forecast period. China and Japan are the major markets for bearings in APAC. Market growth in this region will be faster than market growth in other regions.

  • A main factor driving the growth of the targeted market is the growing demand for bearings from automotive, aerospace, electronics and electrical, and other end users in developing countries such as China and India.

  • Rising disposable income is also expected to accelerate demand for machinery in automobiles, electronics and electrical appliances, and other goods, which require bearings.

  • For more information on regional segments – Click now!

Bearings Market 2021-2025: Market Dynamics

  • Drivers: The key factor driving the bearings market growth is the high demand for high quality bearings. Improving economic conditions in developing economies create a huge need for highly efficient machinery for manufacturing industrial goods and household appliances.

  • Tendencies: The major trend driving the growth of the bearings market is the the growing adoption of electric vehicles. The strong adoption of electric vehicles in Europethe United States and APAC, mainly in China and Japan, due to the presence of carbon emissions and environmental safety regulations, encourages vendors to develop new hydraulic equipment for electric vehicles. Sales of electric cars in the United States increased by 45% between June 2016 and June 2017.

  • Challenges: Growing popularity of counterfeit products and used bearings is one of the major challenges hampering the growth of the bearings market. Bearings are essential for moving machine components to reduce frictional losses, which is unavoidable. The market experiences billions of dollars in sales every year with a large base of end users. These products are illegally labeled and sold at the same price as the original brands. Thus, frequent downtimes occur in factories, which creates a bad image for original manufacturers worldwide.

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Prepare for great business results with this exclusive bearings market Technavio report. The report will include highlights of the overall market, which includes frequently asked questions such as –

  • What are the historical revenue figures and estimated revenue figures along with the CAGR during the forecast period?

  • What is the current trend in the market?

  • What business tactics will influence the competitive scenarios while defining the growth potential of the market?

  • What are the market drivers, restraints, and challenges impacting market demand and growth?

  • Which regions and segments will generate massive revenue and emerge as market leaders in the coming years?

The competitive scenario predicted in the bearings market report analyzes, evaluates and positions companies based on various performance indicators. Some of the factors taken into consideration for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc. your business goals with our Bearings Market Forecast Report – Buy now!

Related reports:

Bearings Market Scope

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 3%

Market Growth 2021-2025

$11.02 billion

Market structure

Fragmented

Annual growth (%)

2.11

Successful market contribution

Asia-Pacific at 56%

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

AB SKF, ASAHI SEIKO Co. Ltd., C&U Group, JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG and The Timken Co.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Product

6 Market Segmentation by End User

7 Customer Landscape

8 Geographic landscape

9 drivers, challenges and trends

10 Supplier Landscape

11 Vendor Analysis

12 Appendix

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Manager
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UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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