Market Leaders - Mounted Bearing Market
The global mounted bearing market size is projected to grow from USD 1.4 billion in 2022 to USD 1.8 billion by 2027, at a CAGR of 5.6%. The base year for the report is 2021, and the forecast period is from 2022 to 2027. The mounted bearing market is driven by adoption of mounted bearings in numerous industries; increased efficiency and long life with less maintenance requirements of mounted bearing; growing demand for specialized bearings for cost optimization; and increasing development and adoption of sensor based bearing units and IoT.
The global mounted bearing market is dominated by major players such as SKF (Sweden), Schaeffler ( Germany), Timken (US), NSK (Japan), and NTN (Japan). These companies have expertise in mounted bearings and related technologies, are present in major end-use industries, and have a strong customer base to offer their products to. For instance, SKF offers mounted bearings for mining, food & beverage, automotive, construction, agriculture, and others. The company is involved in the development and commercialization of various types of ball and roller mounted bearings and is one of their leading suppliers.
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Asia Oceania is projected to lead the global mounted bearing market which is due to increasing investments of mounted bearing manufacturers in the region, growth in various end-use industries, and rising adoption of equipment in various end-use industries. Companies such as NSK, NTN, SKF, Asahi Seiko Co., Ltd., FYH Inc., and JTEKT Corporation have a dominant presence in the region.
SKF is one of the leading players in this market, with a presence across Asia Oceania, North America, and Europe. The company has won supply contracts from key OEMs from end-use and small-medium bearing manufacturers the mounted bearing market. For instance, in September 2021, SKF launched a new line of spherical roller bearings in North America. These bearings are specifically designed to increase uptime and lower production costs, and their application in slab, billet, and bloom reduces environmental impact during continuous casting operations, thus diversify its bearing portfolio.
Other dominant players in this market are Schaeffler (Germany), Timken (US), NSK (Japan), PT International (US), Asahi Seiko Co., Ltd. (Japan), Jones Bearing Company (US), NTN (Japan), Emerson Bearing Company (US), Jones Bearing Company (US), and JTEKT Corporation (Japan), among others. These players are increasingly expanding their presence in the market and developing new products.
For instance, In May 2021, NSK Ltd. developed a new series of NSK spherical roller bearings with a patented cage design, which provides the general industry with new levels of productivity, reliability, and load capacity. The optimized cage reduces internal stress and eliminates the need for a guide ring. Its potential applications for the new ECA series extend from conveyors, gearboxes, and steelmaking machinery, to presses and machines used in mining. NSK is targeting around 42 million yen in sales of these bearings in 2023.
Related Reports:
Mounted Bearing Market by Product (Ball Bearing, Roller Bearing), Market Channel (OE Market, Aftermarket), Housing Block (Plummer Block, Flanged Block, Take-up Block), Equipment, End-use Industry and Region - Global Forecast to 2027
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