Global Plain Bearing Market, By Type (Journal, Linear, Thrust, Angular Contact) By Application (Automotive, Industrial, Aerospace, Energy, Construction Machinery, Agricultural & Gardening Equipment, Oilfield Machinery, Office Products) – Industry Trends and Forecast to 2024
Market Analysis: Global Plain Bearing Market
The Global Plain Bearing Market accounted for USD 11.53 billion in 2016 and is projected to grow at a CAGR of 4.6% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Plain Bearing Market
Bearings are components made with high precision which enable machines to move at high speeds or carry heavy loads with efficiency. There are several types of bearings such as roller bearing, plain bearing jewel bearing and fluid bearing among others. There is a growing demand for plain bearings in automotive, industrial, aerospace, energy, construction machinery, agricultural & gardening equipment, oilfield machinery sectors which is expected to be one of the major drivers of the market over the next seven years.
Major Market Drivers:
- Increasing demand for plain bearings from end users
- Cost-effective production of plain bearings in Asia-Pacific
- Advantage of plain bearings in the automotive sector
- Increasing life span of bearings due to technological innovations
Market Segmentation: Global Plain Bearing Market
The plain bearing market is segmented on the basis of type into journal, linear, thrust, and angular contact.
On the basis of application, the market is segmented into automotive, industrial, aerospace, energy, construction machinery, agricultural & gardening equipment, oilfield machinery, office products and others.
On the basis of geography, the plain bearing market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Landscape: Global Plain Bearing Market
The global plain bearing market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Plain Bearing Market
Some of the major players in plain bearing market include Boston Gear LLC, GGB Bearing Technology, IGUS, Kashima Bearings, Inc., Minebea Mitsumi Inc., NSK Ltd., NTN Corporation, PBC Linear, RBC Bearings Incorporated, SGL Group, SKF Group, Schaeffler Technologies Ag & Co. KG, THK Co., Ltd., Thomson Industries, Inc., Timken Company, Zollern GmbH & Co. KG and many more.
Research Methodology: Global Plain Bearing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.