Technological innovation to drive the growth of the global bearings market till 2025
CLEVELAND, June 4, 2021 / PRNewswire / – The development and adoption of new bearing technologies in mature markets and the increasing use of more sophisticated bearings in developing countries will be among the main growth drivers in the $ 78 billion global bearings market until 2025, according to a new analysis by the Freedonia group:
- Although bearings are considered a mature technology, significant advancements continue to be made in product design, especially in areas that improve performance and extend life, or complement developments in manufacturing sectors. keys.
- R&D in the industry is also focused on the development of application specific bearings and bearings made from advanced materials that outperform their conventional counterparts.
Smart bearings enter the Industrial Internet of Things (IIoT)
Many large producers are using the Industrial Internet of Things (IIoT) to manufacture what is called “smart bearings“, which can provide predictive maintenance in the fields of aerospace and defense, wind turbines, railways, automotive and other applications with difficult requirements. For example:
- SKF offers bearings for several applications (e.g. wind turbines, rail) which showcase its Overview system that provides operators with detailed information on bearing health, helping to improve performance and extend bearing life.
- SKF bearings contain an advanced sensor (self-powered and wireless) that transmits information about bearing health over the internet, helping to reduce the risk of serious damage or bearing failure.
- Among the variables monitored by SKF Overview system are vibration, load, temperature and lubrication conditions. It also offers a warning about unsafe operating conditions.
Developments in global manufacturing sectors are driving innovation
Developments in the global manufacturing sector have a profound impact on R&D activity in the bearing industry. For example:
- Global production of hybrid and electric vehicles (HEVs) is expected to increase significantly by 2025, leading to increased demand for bearings that promote electric grounding.
- Likewise, the increasing use of robots in the automotive, electronics, pharmaceutical and aerospace industries is stimulating the development of specialty bearings for robotic applications, such as high precision miniature bearings and thin section bearings.
Bearings are also increasingly used in other harsh environments and applications that require bearings with very specific properties that allow them to operate for an extended period of time, as replacement can be a problem. Such environments include:
- clean rooms
- corrosive environments
- high and cryogenic temperatures
- non-magnetic environments
- semiconductor manufacturing
- water treatment applications
You want to know more ?
Global bearings is now available from the Freedonia Group. This study analyzes the global bearings industry by product, market and region. Historical data (2010, 2015, 2020) and forecast for 2025 and 2030 are provided for net bearing shipments, demand and exports in current US dollars at the manufacturer level.
Bearing products include:
- unmounted ball bearings
- unmounted roller bearings (taper, spherical, needle, cylindrical)
- plain bearings not assembled (ball, spherical, thrust bearing and other plain bearings)
- mounted and combined ball / roller bearings (e.g. flange, suspension, pillow block, tensioner)
- Bearing parts sold separately (including balls, rollers, cages, cups, bushings, housing closures, gaskets, shields, spacers)
Promising markets include:
- motor vehicles (e.g., automobiles; light, medium, and heavy trucks; recreational vehicles; minibuses and shuttles; all-terrain vehicles; coaches and city buses; vans)
- aerospace (e.g., airplanes, drones, helicopters, rockets, satellites, space vehicles)
- motorcycles, including internal combustion engine and electric mopeds, motorcycles and scooters
- other markets (e.g. household appliances; bicycles; boats, ships and other marine equipment; electronic and electrical equipment; instruments; medical products; military equipment; railway equipment; sports equipment; wind turbines)
About the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the leading international industrial research company, providing our clients with product analyzes, market forecasts, industry trends and market share information. From individual consulting firms to global conglomerates, our analysts provide businesses with unbiased and reliable market research and analysis to help them make important business decisions. With over 100 studies published each year, we support over 90% of Fortune 500 industrial companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for a personalized search: +1 440.842.2400.
SOURCE The Freedonia Group