• 25-27 November 2021
  • Bombay Exhibition Centre (NESCO), WEH, Mumbai

Bearings market is projected to reach USD 52.44 billion by 2026, according to market report

According to market research report by Fortune Business Insights, “Bearings market is projected to reach USD 52.44 billion by 2026.”

The market is segmented on the basis of application such as automotive, industrial machinery, aerospace and others. The maximum share is of automotive segment owing to the rising investment and expansion of the industry. The rising emphasis on weight reduction will further enable growth of the segment.

Key reasons driving demand for bearings in the automobile sector is due to its advantages such as the ability to rotate at high speed with precision and high durability along with noise and vibration reduction property. In addition, demand for precision bearing owing to industrial automation is expected to boost the market size. Furthermore, demand from various applications including the aerospace industry and machine tools has resulted in the adoption of precision bearings. The growing requirement for miniature bearings in industrial robots will also influence the growth of the market.

Implementation of various technologies such as better forging techniques, low tolerances, and lightweight alloys by manufacturers is expected to further propel growth of the market.

Read more

Go Back