February 23, 2021: The global Bearings Market size is expected to value at USD 172.2 billion by 2025. The market is subject to witness a substantial growth due to the rising demand from heavy machinery manufacturing sector. In addition, increase in the number of application of high capacity bearings in wind turbines is predicted to boost overall market demand for bearing in the upcoming years. Increasing adoption of high capacity bearings in wind turbines helps to improve turbine reliability and performance.

Some of the typical advantage of the industrial bearing include reduction in lubricant consumption and increase in the energy production. Recent advancement in energy & power sector has led to the development of cost effective solution in the market of bearings. These factors are expected to fuel market growth of bearing industry over the next seven years. Globally, the bearings industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

Addition of electro-mechanical accessories into the bearings offers substantial performance enhancement along with reductions in size of the product. Incorporation of advanced sensor units with high performing bearing are anticipated to rocket market demand for bearing in the near future. The advanced sensor system helps to digitally monitor of axis movement, sequence speed, acceleration, deceleration, and load carrying capacity of the bearings.

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Development of advanced lubrication technology and seal technologies coupled with use of lightweight materials in high-performing systems are expected to offer lucrative growth opportunities for industry participants over the forecast period. The bearings market is broadly categorized into two major segments based on the application type such as ball bearings and roller type bearings. The ball bearings is considered as one of the fastest growing segment in the market of bearings with substantial revenue generation in the last few years. Growing popularity of the ball bearings segment is attributed to their ability to function very smoothly and frictionless. Increasing demand for ball bearing along with thrust and radial loadings in two and four-wheeled automobiles is estimated to escalate market demand for ball bearings segment. The roller type bearing segment has also witnessed substantial growth owing to their capacity to support radial and axial loads, thus reducing overall rotational friction.

The automotive sector is one of the fastest growing application in the bearing market owing to large-scale production of automobiles across the globe. Recent advancement in the automotive industry coupled with rising sale of vehicles in the Asia Pacific region are projected to stimulate market growth over the next seven years.

Furthermore, increasing demand for bearing from the railway & aerospace segment is predicted to generate massive revenue owing to the ascribed rise in the number of commuters using public transportation. Improved infrastructure and local transportation systems in developing economies is expected to favor market growth of railway & aerospace application segment.

The bearings market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the automotive sector, increase in the number of R&D activities in the region, and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the bearings market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with strong economic growth in the region, growing automotive sector, massive growth in robust construction and mining equipment market and significant investment by leading industry players considering potential growth opportunities in the region.

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The key players in the bearings industry are NTN Co., SNL Bearings Limited, KCI Bearings (India) Pvt. Ltd., AB SKF Group, NSK Global Ltd., The Timken Company Co., Schaeffler Technologies AG & Co., KG, and JTEKT Co.

Market Segment:

Bearings Product Outlook (Revenue, USD Billion; 2014 – 2025)

    • Ball Bearings

        • Deep Groove Bearings

        • Other

    • Roller Bearings

        • Split Bearings

        • Tapered Bearings

        • Others

    • Others

Bearings Application Outlook (Revenue, USD Billion; 2014 – 2025)

    • Automotive

    • Agriculture

    • Electrical

    • Mining & construction

    • Railway & Aerospace

    • Automotive aftermarket

    • Others

Bearings Regional Outlook (Revenue, USD Billion; 2014 – 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • UK

        • Germany

        • France

        • Italy

        • Eastern Europe

    • Asia Pacific

        • China

        • India

        • Japan

    • Latin America

        • Brazil

        • Mexico

    • The Middle East & Africa

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February 22, 2021: The global Automotive Transmission Market is estimated to touch US$ 259.1 million by the completion of the prediction period. The market was appreciated by US$ 132.2 million in the year 2015. It is estimated to develop at a substantial CAGR for the duration of the prediction. The Automotive Transmission market on the source of Type of Vehicle could span Farm Tractors, Construction, HCVs, LCVs, Defense, Off-road, ICVs and Passenger Cars.

The subdivision of Passenger Cars [PC] ruled the business having a stake of more than 25% of the general business in the year 2015. The most important suppliers to the demand for passenger cars are the nations in Asia-Pacific. Those will carry on taking over the international market in the forthcoming years. Improvement in the equipment of transmission in the subdivision of passenger cars as of four-speed automatic transmissions to 8-speed and 9-speed is increasing the general coziness, experience of driving and fueling effectiveness of the automobile.

The subdivision of Heavy Commercial Vehicle [HCV] grabbed a substantial stake with more than 12% in the year 2015. The progressive expertise for example self-governing driving, associated security arrangements, and driver-associated machineries are likely to propose huge openings for the development.

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The Automotive Transmission market on the source of Type of Fuel could span Diesel, Gasoline, and Others. The subdivision of Diesel ruled the business grabbing more than 40% stake of income in the year 2015. It is estimated additionally develop at the CAGR of almost 7.6% above the prediction period. Latest developments in diesel engine by way of discharge regulator machineries and outline of extremely small sulfur diesel are estimated to upsurge the demand for the subdivision internationally for unpolluted diesel automobiles.

The subdivision of Gasoline is estimated to observe significant development at a CAGR of more than 7.0% for the duration of prediction. Inventions and progressions in gasoline engines offer superior productivity, great performance, low noise and greenhouse gasses, which are likely to motivate the development of the subdivision.

The Automotive Transmission market on the source of Type of Transmission could span Automatic and Manual. The subdivision of manual transmission ruled the business by means of an income stake of more than 60% in the year 2015. On the other hand, the business is, at present, observing a speedy weakening in the transactions of manual transmission due to the growing acceptance of the automatic transmission. The issues like growing road blocking, mandate for extremely fuel effective automobiles have headed to the increasing acceptance of electronic arrangements all over the world.

The greater price of the subdivision of automatic transmission may perhaps encounter its development in the nations like Mexico and India. Yet, growing power of buying and altering inclination of the clienteles of the nations, together with India, is likely to motivate the demand above the prediction period. The Automotive Transmission industry on the source of Area with respect to Trades in terms of intake, Profits, Market stake and Development percentage in these areas, for the duration of the prediction could span North America, Europe, Asia Pacific and Rest of the World.

By the source of geography, Asia-Pacific was responsible for a stake of more than 28% in the year 2015. It is expected to grow at a CAGR of more than 8.5% for the duration of prediction. Strict code of practices throughout Asia Pacific is likely to trigger the demand for well-organized structures. Let us say, in China, ever since the year 2010, new-fangled gasoline powered passenger vehicles were planned to satisfy China IV necessities. They were created based on Euro 4 norms. South Korea and Taiwan have followed criteria laid down by Europe and U.S.A for the diesel and gasoline vehicles.

North America is estimated to develop at a CAGR of above 7.2% for the duration of prediction. Growing demand for Automated Manual Transmission [AMT] throughout the area is expected to offshoot the progress of the business above the forthcoming years. The statement revises Trades in terms of intake of Automotive Transmission in the market; particularly in North America, Europe, Asia Pacific, and Rest of the World. It concentrates on the topmost companies operating in these regions.

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The companies, operating in the field, are implementing a number of development policies comprising unifications and acquirements to withstand in the altering background of expertise. Some of the important companies operating in the field on the international basis are ZF Friedrichshafen AG, Jatco Ltd., GKN PLC, BorgWarner Inc., Aisin Seiki Co., Ltd., Magna International Inc., Get rag, Eaton Corporation PLC, Continental AG, and Allison Transmission Inc.

Market Segment:

Automotive Transmission Type Outlook (Revenue, USD Million, 2014 – 2024)

    • Manual

    • Automatic

Automotive Transmission Fuel Type Outlook (Revenue, USD Million, 2014 – 2024)

    • Gasoline

    • Diesel

    • Others

Automotive Transmission Vehicle Type Outlook (Revenue, USD Million, 2014 – 2024)

    • Passenger cars

    • LCVs

    • ICVs

    • HCVs

    • Off-road

    • Construction

    • Defense

    • Farm Tractors

Automotive Transmission Regional Outlook (USD Million, 2014 – 2024)

    • North America

    • Europe

    • Asia Pacific

    • RoW

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At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: 

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Research Support Specialist, USA

Email: ryan@millioninsights.com