According to a recently published report by Brisk Insights, the Global Bearings Market is expected to grow at the CAGR of 8% during 2015-2022 and it estimated to be $125 billion by 2022. The Global Bearings market is segmented on the basis of product, component, end-user and geography. The report on Global Bearings market forecast 2015-2022 provides detailed overview and predictive analysis of the market.
The high growth rate of global bearing market is due to increase in vehicle production globally. The high demand for energy efficient vehicles and the increasing demand for bearings in defense and aerospace industry are the key driving factors for bearing market. However increasing sales of counterfeit products is the key restraint for the market growth of bearings globally.
Full report available Global Bearings Market Forecast 2015-2022 Report at http://briskinsights.com/report/global-bearings-market
The global bearing market can be segmented on the basis of product, end-user, components and geography. The product segmentation includes unmounted ball bearing, plain bearings and roller bearings. The components segmentation includes balls, cages, roller, rings and others. End-user includes motor vehicles, aerospace equipment, power transmission equipment, garden and farm machinery, construction machinery and oilfield machinery. The global bearings market is geographically segmented into America, Europe, APAC, and ROW. It expected to witness high growth in APAC region over the forecasted period. In APAC, the automobile industry in growing at a high rate therefore the demand for bearings is increasing in this region. Also rapid industrialization in developing economies like China, India, Japan and South Korea also contribute in growth of bearing market.
The major players profiled in the report include Danaher Corp, GGB Bearing Technology, Daido Metal Company Ltd., NSK Ltd, Rexnord Corporation, JTEKT Corporation, RBC Bearings, Rexnord Corporation, ThyssenKrupp AG, Brammer PLC, Schaeffler Group., Asahi Seiko Co., Ltd. And so on. Innovation and R&D are the key winning strategies of the market.
Release ID: 735