Thrust Bearings Market: Introduction
A bearing is a component which facilitates relative motion between two surfaces. Bearings act as load carriers as well as friction reducers among rolling or sliding parts. Bearings are extensively used in almost every machinery or system and are custom-designed for specific applications or according to ASTM standards and other international standards. Thrust bearings are designed to take axial loads either in one or both directions. Thrust bearings come mainly in two different forms of rollers, i.e. ball thrust bearings and cylindrical thrust bearings.
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Thrust Bearings Market: Dynamics
Bearings are an essential component of machines and find applications in all almost all sectors, including manufacturing, mining, automotive, aerospace, military, consumer goods, electronics, processing plants, etc. There has been significant demand for various types of bearings from different machineries and systems. These bearings are required to reduce frictional loss and ensure reliable operation. Growth in demand has compelled manufactures to continually work on the development of more reliable and application specific bearings. Also, bearings have an extensive large aftermarket as all bearings have an estimated life cycle of millions of revolutions or millions of hours of work, after which the bearing must be replaced with a new one.
Thrust Bearings Market: Region-wise Outlook
The estimated size of global bearing market is somewhere between US$ 45 – 50 Bn, with Asia Pacific being the largest market owing to its widespread customer base. Asia Pacific is followed by Europe, North America, Latin America, MEA and Japan. The demand for thrust bearings majorly depends on industrial demand and the demand for repair & maintenance of machines equipped with the designated thrust bearing. At country level, Germany is anticipated to be the largest market in Europe whereas the U.S is anticipated to dominate the demand in North America market. China, Japan and India are expected to grab larger pies in the Asian Market and China is expected to be the most dominant country in the global market.
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By Segmentation:
Thrust bearing are available in different bore diameters, outer diameters, dynamic and static load ratings. The thrust bearing market can be segmented as follows:
By Type
• Ball Thrust Bearing
• Single Direction
• Double Direction
• Cylindrical Roller Bearing
• Spherical Roller Thrust Bearings
• Tapered Roller Thrust Bearing
By Series Type
• Extra light
• Light
• Medium
• Heavy
By Cage Type
• Steel Cage
• Brass Cage
By Sales Type
• OEMs
• Aftermarket
By Application
• Manufacturing & Metal Processing
• Plastic Processing Machines
• Food Processing Industry
• Oil & Gas
• Automotive & Locomotive
• Aerospace
• Pumps and Compressors
• Mining Machines (Crushers) & Earth Moving Equipment
• Consumer Appliances
• Others
Thrust Bearings Market: Market Participants
The global thrust bearings market is assessed to be a fairly consolidated market, with some of the major brands holding highly developed sales and distribution network. Some of the examples of market participants identified across the value chain of the thrust bearing market are SKF AB, Schaeffler Group, THK Company Limited, NSK Limited, JTEKT Corporation, Nachi-Fujikoshi Corporation, RBC Bearings Incorporated, Timken Company, Luoyang Lyc Bearing Company Limited, Federal-Mogul Holdings Corporation, European Bearing Corporation, etc.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.