European ball bearing market to reach $ 5.50 billion by now

Pune, December 01, 2020 (GLOBE NEWSWIRE) – The European market for ball bearings the size should reach $ 5.50 billion by 2027, posting a CAGR of 1.9% during the forecast period. The introduction of Industry 4.0 technologies in the production of bearings will create huge opportunities in the market, observes Fortune Business Insights â„¢ in his report entitled “European market for ball bearings COVID-19 Size, Share, and Impact Analysis, by Product Type (Self-Aligning Ball Bearings, Deep Groove Ball Bearings, Angular Contact Ball Bearings and Others), by Application (Automotive, Industrial Machinery, Mining and construction, medical and others), and Country forecast, 2020-2027 ”. Smart manufacturing powered by Industry 4.0 technologies such as artificial intelligence (AI), machine learning (ML) and the Internet of Things (IoT) is gaining ground across Europe.

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The main reasons for the rapid adoption of smart technologies in the region are the growing emphasis on improving efficiency and productivity in the workplace as well as establishing environmentally friendly manufacturing processes. the environment. Some of the largest manufacturing companies in Europe are rapidly deploying Industry 4.0 tools to produce industrial equipment. Schaeffler AG, for example, uses a machine tool at its plant in Hoechstadt, Germany, equipped with numerous sensors and engaged in the production of high precision bearings. These roller bearings will in turn be used to power the company’s machine tools. Likewise, in 2019, SKF installed Industry 4.0 technologies in its bearings factory in Italy to increase its innovation capabilities. The use of smart technologies by European manufacturers will drive the growth of the ball bearing market in the region.

The sudden eruption of the COVID-19 pandemic has created a state of shock around the world. The global economy has been brought to its knees as businesses face a looming recession. Industries are experiencing a sharp decline in activity, some suffering more than others. We aim to provide companies with a quantitative and qualitative impact analysis of the current pandemic on different markets, based on our expertise and our experience in market intelligence.

According to the report, the market was worth 4.92 billion USD in 2019. Highlights of the report include:

  • In-depth understanding of key market segments and their performance;
  • Thorough profiling of the main market players and detailed study of their main strategies;
  • Comprehensive analysis of the different market drivers and challenges; and
  • Granular study of regional developments impacting the growth of the market.

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Driving factor

Extensive use of ball bearings in automobiles to support market growth

The growth of the ball bearing market in Europe is expected to show a stable trajectory due to the heavy use of bearings by car manufacturers in the region. For example, the 2021 BMW M3 and M4 models feature lightweight wheel bearings with a higher camber range and a unique swivel bearing. European automakers are also developing bearings for electric cars, although the bearing requirements for these vehicles are much lower than for regular cars. For example, the Volkswagen Golf contains only 50 bearings. In general, ball bearings are widely used by the automotive industry to keep vehicles running smoothly. In the case of steering, for example, the bearings provide the necessary support for the steering unit, which goes from the cab to the engine area. The indispensable nature of ball bearings in automobiles will enable stable growth in this market. More importantly, Europe is home to some of the largest automotive companies in the world and these companies are bolstering their products with next generation automotive components, which favor this market.

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Regional perspectives

Germany will be the first country supported by advanced manufacturing technologies

With USD 1.64 billion in 2019, Germany is expected to lead the ball bearing market share in Europe during the forecast period due to the deployment of advanced manufacturing technologies in the country. In addition, the demand for efficient bearing solutions is steadily increasing from various end-use industries such as food processing, construction and pharmaceuticals, creating an environment conducive to the growth of the market in Germany.

In Italy and the UK, the adoption of advanced bearings is fueled by the increasing intensity of operations in the mining, aerospace and construction industries. On the other hand, the French market is expected to experience a period of dynamic growth due to increased investment in companies specializing in industrial machinery in the country.

Competitive landscape

Key players to compete by launching innovative offers

In order to strengthen their position, the main market players are engaged in intense but healthy competition. This competition is characterized by the frequent launch of innovative bearing products by companies, which not only diversifies their portfolios, but also allows them to expand into untapped regional markets.

Industry Developments:

  • June 2020: SKF has announced an investment of SEK 400 million to set up a new ball bearing manufacturing plant in China. The investment is part of the company’s strategic expansion into the Chinese manufacturing sector.
  • July 2019: Schaeffler AG has announced that it will successively incorporate new bearing features into all of its 241 series spherical roller bearings with bore elements of 500mm and larger. The new rollers will be more robust thanks to the optimized micro-geometry on the ends of the rollers.

List of Key Companies Featured in the Europe Ball Bearing Market Report:

  • THB bearings (China)
  • ISB Industries (Italy)
  • Luoyang Huigong Bearing Technology Co. Ltd. (China)
  • Myonic GmbH (Germany)
  • NTN Bearing Corporation (United States)
  • LYC Bearing Corporation (China)
  • Nachi Fujikoshi Corp (Japan)
  • NSK Ltd. (Japan)

Quick purchase – Europe ball bearing Marlet Research report:

Detailed table of contents:

  • introduction
    • Definition, by segment
    • Research methodology / approach
    • Information source
  • Key points to remember
  • Market dynamics
    • Macro and micro economic indicators
    • Drivers, constraints, opportunities and trends
    • Impact of COVID-19
      • Short term impact
      • Long term impact
  • Competition landscape
    • Business strategies adopted by key players
    • Consolidated SWOT analysis of the main players
    • PESTLE analysis
    • Porter’s Five Forces Analysis
    • Supply chain analysis
    • Europe Ball Bearing Market Share Analysis and Matrix, 2019
  • Key market insights and strategic recommendations
  • Profiles of key players (Would be provided for 10 players only)
    • Overview
      • Key management
      • Headquarters, etc.
    • Offers / business segments
    • Key details (Key details are subject to data availability in the public domain and / or on chargeable databases)
      • Employee size
      • Key financial data
        • Past and current income
        • Gross margin
        • Geographic share
        • Share of business segment
    • Recent developments
  • Answers to the main interview
  • Annex / Appendix
    • Europe Ball Bearing Market Size Estimates & Forecasts (Quantitative Data), By Segments, 2016-2027
      • By product type (value)
        • Self-aligning ball bearings
        • Deep Groove Ball Bearings
        • Angular contact ball bearings
        • Others (stops, etc.)
      • By application (value)
        • Automotive
        • Industrial machinery
        • Mines and construction
        • Medical
        • Others (Aeronautics, etc.)
      • By country (value)
        • UK
        • Germany
        • France
        • Switzerland
        • Italy
        • The rest of europe

Table of contents continued ..

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Cross Roller Bearing Market Size, Share and Industry Analysis by Type (Single Inner Ring and Split Outer, Split Outer Ring and Single Inner, others), by dimension (18-50mm, 50-150mm, 150-250mm , 250 to 400mm, 400 to 630mm, 630 to 800mm,> 800mm), by industrial vertical (industrial machines, medical systems, robotics, semiconductor manufacturing equipment) and regional forecast 2019-2026

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