Mounted Bearing Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Mounted units provide a plethora of application and service options to end users. A mounted unit is generally a ball or roller bearing set into a housing. Mounted bearings, also called as bearing units or bearing blocks are motor components that drive relative action for desired motions. They are face or surface mounted in applications where the shaft is perpendicular to the unit. The main purpose of a bearing includes reducing friction between parts, serving regular rotation, machine assurance, sustaining the state of the rotating shaft.
They are primarily employed in both, light- and heavy-duty industries ranging from construction and mining to machineries such as conveyors on a food processing line, automobiles and others. They are increasingly used for radial thrust and heavy loads applications including powertrain and engine mountings.
The global mounted bearing market is expected to witness explicit growth at a tremendous CAGR in the next few years.
The growth of this market is attributed towards major relying factors which include: the growing durable goods manufacturing activities, growing adoption of mounted bearings in numerous industries , growing demand for specialized bearings for cost optimization; increasing development and adoption of sensor-based bearing units in IoT, increased output of heavy user industries and their expansions in fixed investment spending for mounted bearings which offer increased efficiency and long life with less maintenance requirements.
Additionally, mounted bearings are also used in carousels, conveyors, belt loaders, sorters, and stackers in warehouses and distribution centers for material handling which reduce operating costs and increase high return on investment. Also, mounted bearings are these days increasingly used in packaging and pallet wrapping applications as well. With this, stringent food safety standards and the adoption of new technologies propel the demand for premium mounted bearings in the food processing industry.
Moreover, top companies in the beverage industry are adopting measures to reduce water and energy consumption during the production process. The use of premium bearings in the conveyor increases sustainability by reducing water consumption, which requires their demand consistently, thereby fueling the market growth.
Furthermore, rise in disposable incomes, rise in consumer preference for lightweight and fuel-efficient vehicles, reduction in tax rates on passenger and commercial vehicles due to the coronavirus pandemic and the rising demand for electric vehicles will drive the automotive industry which will enhance the demand and manufacture of mounted bearings.
However, availability of counterfeit products, concerns relating to contamination and intense competition from bearing suppliers in lower cost countries are a few factors among others which hinder the growth of the market.
More importantly, the COVID-19 pandemic is expected negatively impact the mounted bearing market, but not on a large scale. Mounted bearings have huge potential in both the process and discrete industries. Though, the industry has taken a downfall due to the shutting down of various corporations concerning the global lockdown situation, certain industries have recommenced production and activity to overcome the losses incurred and to bring about a positive change in the economies of their nations.
MOUNTED BEARING MARKET SEGMENTATION:
By Product Type:
- Ball Bearing
- Roller Bearing
By Housing Type:
- Plummer Block
- Flanged Block
- Take-up Block
By End-use Industries:
- Food & Beverage
- Farm & Fish
- Construction & Mining
- Chemical & Pharmaceutical
- General Industrial & Machinery
- Other Transportation
- Pulp & Paper
By Market Channel:
- OE Market
- Floor Cleaning Machines
- Commercial Printing
- Packaging Machinery
- Material Handling
- Storage Systems
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The North American region is the largest regional market for mounted bearings and is also expected to maintain this position. This is attributed to the well-established major firms in developed economies in the region which have the demand for their products growing from all around the globe and which continuously focus on improving the quality and functioning of their products by consistently putting efforts in the research and development domain of products and technological advancements that take place on an year round basis.
The Asia-Pacific region is the anticipated to be the fastest growing regional market for mounted bearings in the years to follow. Factors such as rapid motorization, influential aftermarket for equipment repair, robust mining & construction industries, growing industrialization, development of low-cost bearing solutions, increasing sales of vehicles across the region and easy availability of raw material required for manufacturing of mounted bearing will prove effective in propelling the growth of this market in the region. Additionally, strong presence of well-established companies manufacturing bearings also aid in the growth of this market. The major contributors in the region include India, China and Japan.
The European region is estimated for a substantial growth in this market owing to the rapid expansion of manufacturing industries across the region, supportable economic growth, increasing investments, presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding mounted bearings etc.
FEW KEY PLAYERS IN MOUNTED BEARING MARKET:
- THE TIMKEN COMPANY
- Rexnord Corporation
- Regal Beloit Corporation
- Jones Bearing Company
- Asahi Seiko Co. Ltd.
- Fyh Inc.
- PT International
- Svenska Kullagerfabriken AB
- Applied Industrial Technologies, Inc.
- Schaeffler Technologies AG & Co.
- JTEKT Corporation
- NSK Ltd.
- NTN Corp.
- NTN Bearing Corporation
- Other Players
- In June 2020, SKF developed a new mobile app that simplifies the task of mounting and replacing bearings. The SKF Bearing Assist app is said to provide detailed mounting instructions for a comprehensive range of SKF bearings.
- In November 2020, Bearing manufacturer and distributor ISO Bearings South Africa launched a substantial marketing drive to announce it being a distributor of bearing manufacturer FYH Bearings in Southern and South Africa. As per reports, FYH produces only mounted ball bearing units and spherical roller units which consist of about 900 varieties of bearings and about 500 forms of housings.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022 to 2027: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global mounted bearing market by the following segments:
- Product Type
- Housing Type
- End-use Industries
- Market Channel
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Mounted Bearing Industry Report
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2027?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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