Global Anti-Friction Bearing Market 2017-2021

Overview of the global anti-friction bearing market

According to Technavio’s analyst, the global anti-friction bearing market is anticipated to grow at a steady rate and post a CAGR of more than 4% during the forecast period. The growing demand for commercial aircrafts will drive the growth prospects for the global anti-friction bearing market until the end of 2021. Some of the contributing factors such as high replacement rate, increased aircraft size, technological revolutions, and increased high-net-worth population drive the aviation sector, which, in turn, will fuel the growth potential of the global anti-friction bearing market. Also, since the aircraft's lifespan is of 25 years, the replacement rate of aircraft is expected to rise from 2020.This will increase the demand for commercial aircraft and will positively influence the market by driving the demand for anti-friction bearings from the aviation sector.

The growing demand for hybrid and ceramic bearings will drive the growth prospects for the global anti-friction bearing market for the next four years. One of the factors responsible for the increasing demand for hybrid and ceramic bearings is its ability to deal with reduced lubrication and high loads and speeds. Additionally, these ceramic and hybrid bearings are applicable in a wide range of nuclear, high speed, vacuum, cryogenic, non-magnetic, and insulating applications, which will again, fuel market growth.

Competitive landscape and key vendors

The global anti-friction bearing market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Also, various regional or local vendors are increasingly finding it difficult to compete against international vendors in terms of quality, features, functionalities, and services. Moreover, factors such as product extensions, technological innovations, and mergers and acquisitions will further intensify the competitive environment in the market.

Key vendors in this market are -

• JTEK
• NSK
• NTN
• Schaeffler
• SKF
• Timken

Other prominent vendors in the market include AST Bearings, Harbin Bearing Manufacturing, HKT, igus, MinebeaMitsumi, NBI Bearings, RBC Bearings, and Rexnord.

Segmentation by product and analysis of the anti-friction bearing market

• Ball bearings
• Roller bearings

The global ball bearings segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the contributing factors attributing to the growth of the market include the benefits of ball bearings in the reduction of friction between rotating or moving parts of equipment such as shafts, axles, and wheels, elimination of external lubrication source in modern ball bearings and improved efficiency and cost-effectiveness.

Segmentation by geography and analysis of the anti-friction bearing market

• Americas
• APAC
• EMEA

In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. One of the major factors that will contribute to the growth of the market is the increasing demand for bearings from the automotive, railway, wind, textile, manufacturing, and industrial sectors. Countries such as Japan, China, Australia, India, South Korea, Taiwan, and Singapore will be the major growth contributors to the market. Furthermore, the market is witnessing a high demand for construction equipment from the construction sector in India and Indonesia, which will again fuel the demand for anti-friction bearings in the coming years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global anti-friction bearing market?
• What are the key market trends impacting the growth of the global anti-friction bearing market?
• What are the challenges to market growth?
• Who are the key vendors in the global anti-friction bearing market?
• What are the market opportunities and threats faced by the vendors in the global anti-friction bearing market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global anti-friction bearing market?

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