Country-Niche Players Dominate the Bearings Market, Despite the Presence of ~300 Competitors Comprising a Significant Number of Global and Regional Players, finds a recent market study on the Global Bearings Market by Ken Research.
Bearings are parts that assist in the rotation of an object. Bearings support the shaft that rotates inside the machinery. Machines that have the usage of bearings include automobiles, airplanes, electric generators, and others. They are also used in household appliances such as refrigerators, vacuum cleaners, air-conditioners, and others. The bearing supports the rotating shaft of the wheels, gears, turbines, rotors, and various other applications.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
- Global Players Constitute ~5% of the Total Number of Competitors, While Country-Niche Players Represent ~65% of Total Competitors
Competitive Analysis by the research study found that the Global Bearings Industry is highly competitive with ~300 players which include country-niche players, regional players as well as a significant number of globally diversified players, who deal in the manufacturing and supplying of bearings for multiple product types such as roller, ball, and others. The large global players even though comprise about 5% in terms of the number of companies, hold a strong portion of the market revenue share followed by country-niche players. Most of the players are having their headquarters in the Asia Pacific region.
- The majority Number of Players are Specialists, Manufacturing a Wide Array of Products in the Global Bearings Market.
Detailed comparative analysis of key competitors available within the research study reveals that players have a variety of bearings products catering to multiple applications such as automobile, aerospace, electronic component, and others. All leading competitors have a strong presence in the global bearings market. Furthermore, several companies and organizations are aggressively investing in R&D to cater to end-users demands.
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- In June 2021, JTEKT Corporation developed ball bearing with high muddy water resistance seals for agricultural machinery.
- In September 2020, NTN Corporation expands the mass production and delivery of high-speed deep groove ball bearing developed for motors equipped with electric vehicles (EV) and Hybrid Electric Vehicles (HEV).
- In October 2020, NTN Corporation expands the mass production and delivery of ULTAGE tapered roller bearing for automotive applications developed for automotive transmission and differential.
- Government Initiatives & Programs to Encourage the Expansion of the Global Bearings Market
- According Indian Brand Equity Foundation (IBEF), a semi-government trust formulated by the department of commerce, stated that, in September 2021, the Indian government issued a notification regarding a PLI (Production Linked Scheme) for automobile and auto components worth US$ 3.49 billion.
- In May 2020, The French Government announced, a US$ 8.8 billion aid package to help the auto industry recover from the COVID-19 crisis, including increased incentives for new electric vehicles.
Key Topics Covered in the Report: –
Snapshot of the Global Bearings Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Bearings Market
Historic Growth of the Overall Global Bearings Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Bearings Industry
Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
COVID-19 Impact on the Overall Global Bearings Market
Future Market Forecast and Growth Rates of the Total Global Bearings Market and by Segments
Market Size of Application / Material Type Segments with Historical CAGR and Future Forecasts
Analysis of the Global Bearings Market
Major Production/Supply and Consumption/Demand Hubs in Each Major Region
Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Continent
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Major Players Mentioned in the Report
Regal Rexnord Corporation
The Timken Company
HKT Bearings Ltd.
Notable Emerging Companies Mentioned in the Report
Liaocheng SAST Bearing Co., Ltd
Hangzhou DingTeng Industrial Co., Ltd.
Rotycan Turbotech Pvt. Ltd
Industria Bearings & Transmissions Ltd.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
Bearings Manufacturing Companies
Bearings Material Suppliers
Potential Investors in Bearings Companies
Steel Bearings Producers
Ceramic Bearings Producers
Bearing Accessories Manufacturers & Suppliers
Consulting Companies in the Bearings Market
Government and Research Organizations Working in Bearings Industry
Investment Banks Targeting Bearings Industry
Company Research and Development Institutes
Market Research & Consulting Firms
Banking and Financial Service Providers
Auto Component Manufacturers
Government & Regulatory Authorities
Testing & Inspection Companies
Time Period Captured in the Report: –
Historical Period: 2017-2021
Forecast Period: 2022-2028F
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