Lucintel Forecasts Bearing Market to Reach $XX Billion by 2028

According to the recent study the bearing market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 6% to 8% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for bearings with lower maintenance and growing need for industry-specific bearing solutions with unique design.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in bearing market by product (ball bearing, roller bearing, plain bearing, and others), application (automotive, agriculture, electrical, mining & construction, railway & aerospace, automotive, power transmission, oil & gas, and others), type (mounted and unmounted), material (metal, plastic, and ceramic), distribution channel (offline and online), component (cages, balls, rollers, rings, and others), machine (ICE vehicle, electric vehicle, industrial machinery, aerospace machinery, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Roller bearing market is expected to remain the largest segment during the forecast period.”

Based on product, the bearing market is segmented into ball bearing, roller bearing, plain bearing, and others. Lucintel forecasts that the roller bearing market is expected to remain the largest segment due to reduces rotational friction, support radial and axial loads, and can sustain limited axial loads and heavy radial loads more efficiently than their counterparts.

“Within the bearing market, the automotive segment is expected to remain the largest application”

Based on application the automotive segment is expected to witness the highest growth over the forecast period due to the rising demand for modern automobiles, growing production of vehicles, and increasing demand for automobiles with technologically advanced solutions.

“Asia pacific will dominate the bearing market in near future”

Asia Pacific will remain the largest region due to the rapid expansion of machinery, increasing aftermarket demand for industrial equipment and growing construction & mining equipment market in this region.

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Major players of bearing market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Brammer, Harbin Bearing Manufacturing, HKT Bearings, JTEKT Corporation, NBI Bearings Europe, NSK Global, and NTN Corporation are among the major bearing providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link  or [email protected]

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