Meet Abi
Abi will answer all Bearings related
procurement queries with relevant data points
Abi - AI powered digital procurement assistant
Discover Market Info
Get up-to-date market and supplier info on Bearings to help you build
Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices
Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices
Manage Risk
Assess Supplier Risk based on key risk and compliance parameters
Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.
Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus
Find Suppliers
Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography
Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings
Assess Category Performance
Benchmark your category performance against peers and the market
Measure category performance on 15 key parameters across cost, risk and strategy KPIs
Source Market Indices
Get information on key factors affecting your supply
Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics
Meet Abi
Discover Market Info
Manage Risk
Find Suppliers
Assess Category Performance
Source Market Indices
Abi will answer all Bearings related
procurement queries with relevant data points
Abi - AI powered digital procurement assistant
Get up-to-date market and supplier info on Bearings to help you build
Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices
Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices
Assess Supplier Risk based on key risk and compliance parameters
Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.
Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus
Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography
Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings
Benchmark your category performance against peers and the market
Measure category performance on 15 key parameters across cost, risk and strategy KPIs
Get information on key factors affecting your supply
Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics
USD 112 Billion
8.7 Percent
$ 24.90 billion
$ 56.24 billion
Category Intelligence on Bearings covers the following
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.
Growth of Automotive Industry
New Technological Developments
Investments and Improvements in Renewable Energy
Diversification Expansion
Dropping Market Share
Increasing Concern over counterfeit products
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.
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