CATEGORY

Bearings

A bearing is a machine element that constrains relative motion to only the desired motion, and reduces friction between moving parts.

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CATEGORY ALERTS

World's Most Powerful Offshore Wind Turbine from GE, Haliade- X, Will Have Bearings From Timken

July 05, 2022
alert level: Medium

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Cost Structure
Supply Demand

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Bearings Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Bearings category is 2.50%

Payment Terms

(in days)

The industry average payment terms in Bearings category for the current quarter is 45.0 days

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Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

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Inventory Control

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    Bearings Suppliers


    63,805
    Total Suppliers
    1,739
    Diverse Suppliers
    78
    Normalized Supplier Rating
    Bearings Supplier

    Find the right-fit bearings supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    WW Grainger
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    3
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    44

    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    54
    Social
    37
    Governance
    51
    6 Domains Performance (/100)
    Business behaviour
    42
    Human rights
    49
    Community Environment
    55
    Corporate governance
    56
    Human resources
    27
    Security Scorecard
    85

    Threat indicators
    B
    89
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    D
    69
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    B
    80
    Application Security
    Detecting common website application vulnerbilities
    B
    83
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    B
    84
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    grainger.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    1
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    1
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    1
    Fraud Issues
    0
    Labor Health Safety Flags
    0
    Regulatory Issues
    1
    Workforce Disputes
    0
    Sanctions
    0
    esg energy transition
    55
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Bearings market frequently asked questions


    According to Beroe's bearing market news report, the United States, Japan, and Germany are the top three bearing manufacturing countries globally. Out of these, China is known to be rapidly increasing its presence.

    The demand for bearings is highest in Asia with valuation being higher than 50 percent. The contributing factor is the increase in automobile production followed by industrialization in developing nations like China, India, and South-East Asia.

    The net contribution made by the top six suppliers is more than 65 percent of the market share and this high valuation has consolidated the overall supply landscape of the bearings market.

    According to the bearing market size analysis done by Beroe, multiple factors push the growth of bearing marketing on a global scale. Here are the primary reasons: - The automobile industry is the highest revenue-generating industry right now and the rapid growth of vehicles produced worldwide is further contributing to the growth of the bearing market. - Continents like Europe, America, Africa, and Asia-Pacific promise a considerable rise in bearings demand since the demand for two-wheelers and passenger cars is on the rise worldwide. - To meet industry demands and requirements in hi-tech applications, tech-oriented industries like aerospace, defense, robotics, etc. require heavy-duty, SMART, and durable bearings. This further bolsters the demand for bearings.

    The main factors challenging the growth of the bearings market are: - The arrival of new key players in the market with cut-to-cut pricing and tough competition brought the bearing prices down - US manufacturers are seeing a rough competition from low-cost imports coming from developing countries within the APAC region - The counterfeiting of products has hit the bearing manufacturers badly and thus they are collaborating with channel partners to combat the growing menace.

    Bearings market report transcript


    Market Overview–Global Bearings Market

    The global bearing market was estimated to have declined by 1 to 3% in 2019 as compared to the previous year. This decline was mainly due to weak demand in the automotive market, but also in off-highway and machine tool markets. However, strong growth was witnessed across renewable energy and railway sectors in the same year.

    Asia-Pacific is the biggest market for bearings due to strong demand from multiple industrial sectors such as, machinery, construction, automotive, aerospace, defence, etc.

    Suppliers

    ●      The top suppliers of the bearing market include Schaeffler, SKF, NTN, and JEKT among others.

    Market Dynamics–Drivers & Constraints

    Drivers

    Growth of Automotive Industry

    • The global automotive industry is currently, one of the highest revenue generating industries in the world. The rising production of vehicles worldwide is pushing the growth of bearing market
    • In the coming years, automotive bearings demand is expected to rise in Europe, Americas, Africa, and Asia-Pacific especially. This is because the demand for vehicles, mainly passenger cars and two wheelers are witnessing a constant rise worldwide

    New Technological Developments

    • The technology oriented industries such as, aerospace and defense, robotics, medical, etc. have witnessed a huge demand for effective, heavy-duty, SMART, and durable bearings in order to meet industry standards and demand across critical and hi-tech applications. So, a rising demand for bearings from these industries are also expected to drive the demand for bearings globally

    Investments and Improvements in Renewable Energy

    • In the wind energy sector, bearings are the most important components used in wind turbines. These bearings require designs that can optimize reliability and provide economic efficiency depending on the applications
    • The present wind energy market is witnessing a lot of investments due to ongoing projects and innovations in wind power generation and transmission such as power transmission.. The market for wind energy is driven by China and India significantly in the Asia-Pacific region

    Diversification Expansion

    • The end user markets served by bearings distributors have witnessed wild swings in demand since the recession. As a result, many distributors have been expanding their target markets. Key targets for growth areas includes; food and beverage, automation, manufacturing, and energy

    Constraints

    Dropping Market Share

    • The influx of new players with aggressive pricing and lower cost structures has caused bearing prices to drop considerably
    • Manufacturers from the USA are facing increased competition from low cost imports from developing countries, especially from APAC
    • The turbulence in the global industrial sector has restrained the bearing market growth. The market witnessed a decline in 2016, however, there was a recovery of the bearings market in 2017

    Increasing Concern over counterfeit products 

    • Nearly every major bearing manufacturer has been hit over the last few years by counterfeiters – and as a result, they're working with channel partners to combat the growing issue (e.g. SKF )
    • For example, NSK provides training to its distribution network on “how to identify and address counterfeiting activity of  bearings”

    Market Outlook

    ●      Bearings are used in a wide range of applications. They are used in machinery and equipment. They are used in household appliances, automobile parts, and farm equipment among others. The automotive bearing market and engine bearings market will likely see an improvement in demand. 

    ●      The ball bearings, including groove bearings, are being increasingly used in the automobile market.

    ●      Roller  bearings, both taper bearings and needle bearings, are one of the fastest growing in the global bearings market according to industry intelligence.

    ●      According to experts, the bearings which have low maintenance and are highly efficient will witness a growth in demand from various industries.

    ●      Industry-specific bearing solutions can help propel the growth of bearings in the next 10 years. India and China will emerge as leaders in propelling the growth of the bearings market due to continual high growth in these regions. These regions will specifically be focused on vehicle-production and industrial-machinery.

    ●       The bearings industry can also be impacted by Capex and MRO because MRO is directly linked to the bearings industry.

    ●      Manufacturers of high performance products are increasingly using lightweight materials and in this case the bearings industry will get a boost too.

    ●      Technological innovations and advancements, especially in seal and lubrication technologies, will witness a growth according to bearings industry experts.

    ●      Specialized bearing solutions are likely to witness a high growth due to an increase in the demand.