Bearing industry comprises companies that operate production, manufacture, and supply of a wide range of ball and roller bearing products to various industries. The bearing manufacturing industry produces an array of bearing products. Bearing devices reduce friction and allow constrained relative motion between two or more parts. Bearing market consists of roller bearing, ball bearing, plain bearing, spherical plain bearing, single row ball bearing, plastic ball bearing. Some of the types of ball bearing include cylinder roller bearing, hollow bearing, spherical roller bearings, tapered bearing, cross roller bearings, air bearings, and sensorised bearing. Industrial machinery and automobile sector contribute to the major share of this market. In automotive sector two wheeler and four wheelers captures the majority of the market share. The growth of bearings market is directly proportional to the global industrial production. Aerospace, off highway and Railway vehicles also contribute to the share of market.

 

Increased in industrial machinery and automobile sector is driving the bearing market forward and to thrive. This two segments account for a lion's share contributing to the growth of global bearings market. Increased investment in aerospace industry is boosting the growth of this market. The increase in demand for railway equipment, electronics, and aircraft in the developing regions is demonstrating record sales growth for bearings and related products. Growing concerns over global warming is increasing the demand for wind turbines and thus driving the growth of the bearing market. The global Automotive Bearing market to grow at a CAGR of 7.42% over the five year period between 2013 and 2018. One of the key factors contributing to this market growth is the growing Global Motorcycle market. The global automotive bearing market has also been witnessing the increasing development of integrated bearings. Bearing demand in the US is expected to increase 4.4% every year to the value of $12.9 billion by the end of 2017, which will prove to be a notable improvement from the 2007-2012 five year period. Roller bearing demand is expected to continue to outpace other product types, supported by motor vehicle, machinery and wind turbine markets. Ball bearing consumption is also expected to post healthy gains, which will be supported by increasing manufacturing output.

 

Ball bearing manufacturers have a close relationship with downstream markets, especially automotive manufacturers. With the economy poised for recovery, demand for downstream markets will rebound, bolstering demand for ball bearings. However, imports from China and other countries are making up a growing portion of the domestic market's demand, limiting the industry's growth. Asia dominates the global market contributing to the largest share. China is one of the major markets in this region followed by countries such as India, Thailand, Indonesia, Malaysia and the Republic of Korea all have been showing relatively quicker growth and are expected to be the key markets in upcoming years. Europe is one of the leading markets with Germany, Italy, UK, France, and Belgium accounting most of it. The region such as U.S. and Canada makes the largest share of the market in North America. Brazil in South America is showing substantial growth and is expected to be one of the dominant economies driving the market forward.

 

Major players in the bearing industry include Timken, SKF, Schaeffler, Federal-Mogul Corp, igus, JTEKT Corp, LM-Tarbell, Inc, Mineba Co. Ltd., MISUMI USA Inc, Nike Australia GmbH, NSK Ltd, NTN Corp, RBC France SAS, Rexnord Industries, LLC, General Bearing Corp, and Spyraflo Inc.