Motor bearings are a type of mechanical part, which support object’s rotation and are used in all sorts of machines. Motor bearings support the rotating shafts of the wheels, gears, turbines, rotors, etc. allowing them to rotate effortlessly.
Motor bearings are a crucial tribological component of many types of machinery and available in a variety of forms and shapes. The main purpose of bearings is to prevent direct metal to metal contact between two elements that are in relative motion. This prevents friction, heat generation and ultimately, the wear and tear of parts.
It also reduces energy consumption as sliding motion is replaced with low friction rolling. Motor bearings is used to support and locate the rotor, to keep the air gap small and consistent and transfer the loads from the shaft to the motor. It should be able to operate at variable speeds whilst minimizing frictional loses.
Applications of motor bearings include automobiles, airplanes, and electric generators and many more. They are even used in household appliances such as refrigerators, vacuum cleaners, air-conditioners, etc.
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Motor bearings Market: Dynamics
The global motor bearings market has been augmented by factors such as rise in implementation of motor bearings in various end use applications like railways, electric vehicles, rolling mills, etc. In addition, increasing automotive electrification, and continuously variable transmission (CVT) is propelling the demand for motor bearings market.
The electric future will affect demand for motor bearings requirements, as an electric vehicle has up to 90% fewer moving parts compared to combustion-engine cars. Energy efficiency and reduction in fuel consumption are aspects increasingly demanded by users and manufacturers. Technological developments have improved the overall efficiency of the motor bearings for applications in the automobile sector and have enhanced the shelf life of products.
Additionally, railway industry is emphasizing on reduction of cost and enhancing more on increasing the life of rails. The force generated by traction motor and wheels running on tracks creates shocks and vibrations, motor bearings are used in railway gearbox for dampening the vibrations and shocks. The technological developments in motor bearings have fueled its demand in the railway industry.
The cost of raw materials remains the main concern for manufacturers. Instability in the supply and continuously fluctuating raw material prices is a major challenging factor for companies to remain competitive and assure sustainable margins.
In addition, bearing needs regular maintenance to avoid failure and improve their lifecycle, which further increases maintenance costs. Hence, high maintenance cost is also expected to be the restraining factor for the motor bearings market growth.
Rising awareness about environmental pollution and greater demand from consumers for fuel-efficient vehicles has led to development of electric vehicles. Motor bearings that are used in electric vehicles offer improved efficiency, operability, and shelf life owing to constant product development.
Thus constant development in the automobile industry and rising prominence of electric vehicles are the factors that provide lucrative opportunities to the growth of the global motor bearings market.
COVID-19 crisis impact
The ongoing COVID-19 pandemic has caused disruption and economic hardship around the globe. From Asia to Europe to North America, no country has been spared the virus’s effects and its economic fallout. The pandemic crisis has compelled nationwide lockdowns across all the countries in the world resulting in complete shutdown of manufacturing plants and supply chain disruptions owing to transport regulations across the globe.
The COVID-19 pandemic has had a swift and severe impact on all the industries. Correspondingly, it has resulted in substantial drop in the demand growth for motor bearings. However, as the economic activity resumes, post the containment of the pandemic, the motor bearings market growth is also expected to witness sharp recovery.
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Motor bearings Market: Regional Outlook
The demand for motor bearings in North America is estimated to witness substantial growth attributing to accelerating industrial activities coupled with increased sales of large, high-value roller bearings used in heavy machinery and wind turbines.
Motor bearings consumption will also post healthy gains, supported by increased manufacturing output, although value gains in this product category will continue to be held back by intense competition from low-cost foreign suppliers. The Industry 4.0 trend is one of the prime drivers which is anticipate to lift sale of motor bearings as industrial and factory automation gets thrust over the coming years.
Asia Pacific is expected to lead the motor bearings market in terms of both market share and growth rate during the forecast period. The growth of the Chinese automotive sector is expected to contribute significantly to the development of the motor bearings market in the region.
Europe is likely to secure and retain its position in global motor bearings market, due to the significant developments in the automotive industry in the region. Also, the demand for high-performance machines in industries such as construction, aerospace, etc. is also projected to drive the growth of the bearing market in Europe.
Augmented demand for dedicated motor bearings solutions that cater several industry specific specifications is expected to lift the demand of bearings worldwide. Automotive sector accounted for highest market share due to upsurge in the global automotive fleet.
Motor bearings Market: Market Participants
List of some of the prominent market participants in Motor bearings market are:
- RBC Bearings
- National Precision Bearing
- Aurora Bearing
- SKF
- Timken
- NSK
- NTN
- Schaeffler Group
- New Hampshire Ball Bearings
- FK Bearing Group
- CCTY Bearing
- Emerson Bearing
- LYC Bearing
The research report on Motor bearings market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Motor bearings market report also contains projections using a suitable set of assumptions and methodologies.
The research report on Motor bearings market provides analysis and information according to market segments such as of product type, by installation and by material and by application.
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Motor bearings Market: Segmentation
The Motor bearings market can be segmented based on product type, by applications, by size, by sales channel and by end use.
Product type :
- Rolling Bearing
- Sliding Bearing
- Joint Bearing
- Others
Application :
- ICE Vehicles
- Electric Vehicles
- Industrial Machinery
- Aerospace Machinery
Sales Channel :
- Original equipment manufacturers (OEMs)
- Aftermarket
end users :
- Automotive
- Industrial
- Aerospace
- Others