"The Report Global
Bearings Market 2017-2021 provides information on pricing, market
analysis, shares, forecast, and company profiles for key industry
participants. - MarketResearchReports.biz"
According to a new report,
recently added to the repository of MarketResearchReports.biz, the
global bearings market is likely to expand at a CAGR of 5.86% during
the period from 2017 to 2021. The report, titled “Global
Bearings Market
2017-2021,” states that the significant rise in the automotive
industry, especially in Asian countries, such as China, Australia,
South Korea, Japan, India, and Indonesia is the key driving force
behind the growth of this market.
In this report, the global
bearings market has been analyzed on the basis of the product, end
user, and the geography. By the product, the market has been
classified into magnetic bearings and anti-friction bearings. The
demand for anti-frictional bearings has been much higher than the
magnetic ones. Thanks to the high temperature enduring capacities of
anti-frictional bearings and their ability to improve the machines’
operations, the segment is anticipated to remain dominant over the
next few years.
Based on the end user, the
report categorizes the global market into the automotive, railway,
aerospace, ship building, and the heavy industry. The automotive
industry has emerged as the key consumer of bearings across the world
and is expected to retain its position throughout the forecast
period. The sustained economic growth, rise in industrial and
infrastructural development, and the escalating disposable income of
consumers is adding significantly to the increased consumption of
bearings in the automotive industry.
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On the basis of the region, the
report segments the global market for bearings into Asia Pacific
(APAC), the Americas, and Europe, the Middle East, and Africa (EMEA).
Asia Pacific has acquired the topmost position in this market and is
anticipated to remain here over the forthcoming years. The rapid
deployment of advanced automated machines, owing to the high
industrial development across Indonesia, India, China, South Korea,
and Taiwan is driving the growth of this market substantially. In
addition to this, the faster adoption of machines and bearings,
boosted by the increasing automation requirements, is likely to
propel this regional market in the years to come, states the research
report.
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The competitive landscape of
the global market for bearings has also been evaluated in this
research report. As per the study, the market demonstrates a highly
concentrates business structure, thanks to the presence of only a few
players at the top positions. SKF, Timken, Schaeffler AG, NTN, and
NSK have emerged as the leading players operating in this market.
These participants are constantly trying to retain their dominance by
expanding their presence across various geographies and diversifying
their product portfolios. Other prominent participants in the
worldwide bearings market are Asahi Seiko, JTEKT, C&U Group, LYC,
RBC Bearings, Nachi, and ZWZ Bearings.
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