Needle Roller Bearings Market Size, Share & Industry Analysis, By Type (Radial Needle Roller, Drawn Cup Needle Roller, Heavy-duty Needle Roller, Track Roller, Thrust Needle Roller, Combined Radial, Drawn Cup Roller), By Application (Automotive, Heavy Machinery, Aerospace & Defence, Medical Devices, Others)Others and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The needle roller bearings market is growing with the technical advancements and technologies. The manufacturing companies are focused on manufacturing the needle roller bearing with more tensile strength, by which it can bear the load of heavy machineries. Moreover, manufacturers are also focused on reduction in weight, space and energy consumptions of a bearing. These needle roller bearings are most commonly used in two-cycle engine sectors, agriculture and construction equipment. Additionally, the needle roller bearings are adopted by multiple consumers, as it offers various advantages compared with other roller bearings.
Key Market Driver -
- Increasing usage of needle roller bearings in automotive industry is boosting the growth of the market
Key Market Restraint -
Complex maintenance and high costs are the factors that are hampering the growth of the market, across the globe
Consumers are primarily focused on adopting smooth needle roller bearings due to its strength and flexibilities. Roller bearings are designed to carry maximum load with minimum frictions in a machine. Needle roller bearings are thinner as compared with conventional or traditional roller bearings. These are cylindrical in shape that are small in diameter as compared with normal roller bearings. These are designed in such a way that it can deal with radial space constraints in heavy-load with high speed applications. The growth of the market is growing with the increasing manufacturing of automobiles and heavy machineries, across the globe. Moreover, needle roller bearings have the ability to withstand larger shafts and rigid in multiple application areas. These are the prime factors that are directly the growth of the market in multiple regions. Moreover, the advantages offered after adopting the needle roller bearings are: minimum inertia, suitable for oscillating motions, improver mechanical efficiency, and it can bear heavy loads. Also, the life of a needle roller bearing is up to 1,000,000 revolutions.
Key Players Covered:
Some of the major players in the needle roller bearing market include multiple manufacturing companies, such as SNL Bearings Limited, LELI SRL, San Yun Industrial Co. Ltd., Koyo Seiko, NSK Ltd., Timken Company, Schaeffler Technologies AG & Co. KG, NTN Corporations, AST bearings and SKF.
Regional Analysis:
In the Asia Pacific, the market is matured and expected to hold the largest market share, due to the early adoptions of the innovative manufacturing technologies in the automotive industry. China is a developing country and working continuously in developing its infrastructure with innovative and useful technologies. Moreover, China is expected to dominate the market with prominent market share, owing to the increasing number of manufacturing companies in the region.
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Furthermore, the market in the North America is growing with the usage of needle roller bearings in the manufacturing industry. Also, the adoption of innovative roller bearings has increased in the North America from past few years, due to its efficient and smooth properties. Countries of the Latin American region are working continuously on developing needle roller bearings due to its lower costs and high load bearing capacity.
Segmentation
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Key Industry Developments:
- On April 01, 2019, the company named The Timken Company acquired the Diamond Chain Company. This acquisition will help The Timken company in adding strong industrial brand, which will provide reliability and quality.
- Ongoing
- 2023
- 2019-2022
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