Global Mounted Bearing Market Analysis 2022
The Global Mounted Bearing Market is expected to reach $1.91 billion by 2028 growing at a CAGR of 6.2% from 2021 to 2028. Bearing refers to a machine component that limits relative motion to only the necessary motion and reduces friction between moving elements. The automobile bearing is an important component in the vehicle which is responsible for the efficient and smooth operation of the vehicle. A mounted unit is usually a ball or roller bearing placed in housing. These units can be designed for standard roller bearings, ball bearings, and even grooved bearings that allow for easier mounting. Its primary function is to allow linear or rotational movement, as well as high-pressure processing.
Factors such as rising demand for specialized bearings for cost optimization, growing adoption of sensor-based bearing units, and increasing adoption of mounted bearings in major industries are driving the growth of the market. However, raw materials price instability, availability of substitute products and contamination issues are restraining the growth of the market.
Based on sales channel, the original equipment manufacturer (OEM) segment is going to have a lucrative growth during the forecast period which can be attributed to the rising focusing on providing added features as a standard fitment in equipment along with after-sales service as a product differentiation strategy. For example, the food & beverage machinery and equipment manufacturers are mostly medium sized companies and develop machinery according to the needs of their customers. This factor boosts the mounted bearing original equipment manufacturer segment.
The key vendors mentioned are ABB Motors and Mechanical Inc, Bearings Ltd, BMI Bearings, Cixing Group Co. Ltd, IKO International Inc., ILJIN Co. Ltd., Indiana Bearings Pvt Ltd, IPTCI Bearings, JTEKT Corporation, NRB Bearings, NSK Ltd, NTN Corporation, PBC Linear, Schaeffler AG, SKF, and The TIMKEN Company.
Materials Covered:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook