Quadintel published a new report on the Mounted Bearing Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Global Mounted Bearing Market is valued at approximately USD 1.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2022-2028.
The bearing is a machine component that decreases friction between moving parts by restricting relative motion to only that which is required. The car bearing is a critical component in the vehicle since it is responsible for the vehicle’s efficient and smooth functioning. Its main purpose is to enable linear or rotational movement as well as high-pressure processing.
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The market is driven by key factors such as adoption of mounted bearings in major industries and increased efficiency and long life with less maintenance requirements. For instance, Food processing industries accounted for 15% of the value of shipments from the United States in 2018, according to the US Department of Agriculture (USDA). In the same year, meat processing, dairy, and drinks represented 24 percent, 13 percent, and 12 percent of total food processing shipping, respectively. Improved economic conditions and increased consumption would almost certainly enhance demand for food processing machinery. The US Department of Agriculture (USDA) spent USD 500 million to expand meat and poultry processing capacity. However, availability of counterfeit products impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Mounted Bearing Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is dominating the market shares owing to motor vehicle production along with the dominance of strong aftermarket in the region and rapid expansion of the machinery. However, Europe is projected to be the fastest growing region due to rising production of motor vehicles in forecast years.
Major market players included in this report are:
SKF Timken NSK Ltd. Schaeffler Ag NTN Bearing Corporation Regal Rexnord PT International Jones Bearing Company Asahi Seiko Co., Ltd. FYH Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type: Ball Bearing Roller Bearing
By Housing Block Type: Plummer Block Flanged Block Take-up Block Others
By Market Channel: OE Market Aftermarket
By End-User Industry: Food & Beverage Agriculture Farm & Fish Construction & Mining Others
By Equipment Type: Ball Mill Drives Fans & Blowers Gearbox & Transmission Conveyors Crushers Mixer Drives Others
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By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020 Base year – 2021 Forecast period – 2022 to 2028
Target Audience of the Global Mounted Bearing Market in Market Study: Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
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The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
What is the key information extracted from the report?
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