New report published by QY Research which offers insights on the global Roller Bearings market. During the 2017-2023 timeline, the global market for Roller Bearings is expected to reflect an increase in the revenue growth. In 2017 the global Roller Bearings market was valued at 21 billion USD and by the end of the assessment year (2021), it is estimated to touch a value more than 23 billion USD growing at a value CAGR of 2.3% throughout the period of forecast.
Global Roller Bearings Market: Market Driver and Restraint
Applications of Roller Bearings are anticipated to create new business segments in the market. Roller Bearings are in use for a broad range of General and Heavy Machinery products. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since more demand from customers.
Manufacturers are exploring the potential of Roller Bearings in Automotive products. Application of Roller Bearings in Automotive products is gaining traction in the recent years.
Global Roller Bearings Market: Forecast by Type
This segment includes Taper, Cylindrical, Needle, etc.. Taper Roller Bearings segment is expected to rank relatively high on the attractiveness index in the global Roller Bearings market by 2023 end, however, Cylindrical Roller Bearings segment is expected to account for a relatively higher growth rate in the Roller Bearings market over the forecast period.
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Global Roller Bearings Market: Forecast by Region
North America, Europe, Asia are the key regions that are included in this report. China is the dominant market in the global Roller Bearings market in terms of value. The China Roller Bearings market was estimated to be valued at 6 billion in 2017.
Global Roller Bearings Market: Key Players
SKF, Schaeffler, NSK, NTN, JTEKT, Timken, C&U, LYC, Nachi, NMB, TMB, ZWZ, RBC Bearings, HRB, ZXY, Wanxiang Qianchao are the key vendors included in this report.
Roller Bearings are a type of rolling-element bearing that uses cylinders (rollers) to maintain the separation between the moving parts of the bearing (as opposed to using balls as the rolling element). The purpose of a roller bearing is to reduce rotational friction and support radial and axial loads. Compared to ball bearings, roller bearings can support heavy radial loads and limited axial loads (parallel to the shaft).
Roller Bearings are a type of rolling-element bearing that uses cylinders (rollers) to maintain the separation between the moving parts of the bearing. The primary end market for this type of bearing is the industrial and automotive industry. In 2015, demand from general and heavy machine industry contributed 61.21% share, followed by Automotive with 20.98% share.
Commonly, roller bearings can be divided into many types, tapered roller bearing, cylindrical roller bearings, needle roller bearings and others. Among these types, tapered roller bearing is the most basic and widely used one. In 2015, production of tapered roller bearing reached to 9242 million units.
During the 2017-2023 timeline, the global market for Roller Bearings is expected to reflect an increase in the revenue growth. In 2017 the global Roller Bearings market was valued at 21 billion USD and by the end of the assessment year (2021), it is estimated to touch a value more than 23 billion USD growing at a value CAGR of 2.3% throughout the period of forecast.
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