The global bearings market size is expected to reach USD 186.1 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 9.1% during the forecast period. Bearings are essential in almost every application that involves motion and they help minimize friction between different mechanical components in several industrial machinery and equipment, resulting in reduced energy consumption. Hence, this machine element finds application in all industries, ranging from automobiles, household appliances, and aerospace to industrial machinery, using machinery or related motor-driven linkages.
The bearings market is estimated to witness a considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, rising demand for commercial vehicles is expected to catapult the demand from automotive sector across the world.
Technological advancements including smart bearings, development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help digital monitoring of rotation speed, axial movement, load carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor bearing operations constantly.
The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.
Further key findings from the study suggest:
- The development of cost-effective wind energy generating product has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability
- Roller bearings is anticipated to emerge as the largest product segment by 2025 and outpace ball bearings, ascribed to their ability to carry heavy loads and shock or impact loading
- Railway and aerospace segment is estimated to witness the fastest CAGR of over 8.0% over the foreseeable years, due to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms to name a few
- Asia Pacific is anticipated to witness the fastest CAGR of over 5.0% by 2025 attributed to the increased demand for fuel-efficient passenger vehicles, industrialization, and swift infrastructure development
- The key competitors operating in the bearings market include SKF, NSK, Timken, Schaeffler, NTN, and JTEKT. Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product
Access full research report on global bearings market: www.grandviewresearch.com/industry-analysis/bearings-market
The Bearings Market is primarily driven by process industries and their need to conserve energy.
The fluctuating prices of steel pose a challenge for the market.The worldwide market is segmented according to products, applications, and regions.
‘Others’ consist of thrust, angular contact, and self-aligning ball bearings.Ball bearings are predicted to lead the bearings market over the forecast period (2016-2024) due to its ability to reduce friction between different machine components.
They are estimated to garner huge growth in the next six years on account of being low-maintenance.
Split roller bearings are used in shafts and other hard to reach locations.Browse Details of Report @ https://www.hexaresearch.com/research-report/global-bearing-market/Electronics, agriculture equipment & machinery, mining & construction equipment, railway & aerospace, and automotive constitute as major market applications.
Railway & aerospace sector will experience a similar growth rate on account of increasing dependency by the normal public to use these transportation modes to commute.Regions covered under the market are North America, Latin America, Asia Pacific, MEA (Middle East & Africa), and Europe.
Bearings act as a support in automotive production.
That's the reason we must look up to some important factors while choosing a bearing.
Read on to know some of the factors for selecting a bearing for use.
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Selecting appropriate shaft and housing tightness fits are critical in optimizing a single row radial ball bearing’s performance and life. A bearing can only perform to its full capacity when it is correctly fitted on the shaft and in the housing. Improper fits can lead to undesirable operating conditions and early failure.
Below are some of the common considerations bearing users should consider:
Direction, type, and magnitude of loads
Based on the actual applied axial and radial loads an equivalent radial load is calculated. Generally, tighter fits are required as the load increases. Further, rings subjected to circumferential loading should have tight fits. For rings subjected to only point loading, a loose fit may be used.
Inner or outer ring rotation
Typically, the ring that is rotating requires an interference fit, and the non-rotating ring would have a slightly loose fit.
The size and type of bearing specified
Thin type and miniature bearings are very sensitive to interference fits due to loss of radial play. Bearings with heavier cross sections generally require tighter fits.
Material and manufacturing tolerances of mating components.
Fit tolerances are based on cast iron or steel housings and shafts. For alloys such as aluminum (with a different modulus of elasticity), a tighter fit is required to achieve rigid seating.
Operating temperature
With tight fits and a temperature differential between the inner and outer ring, the radial internal clearance in the bearing is reduced. This must be taken into consideration when selecting the internal clearance. Additionally, if the materials used for the housing or shaft are dissimilar, they will have different coefficients of thermal expansion than the bearing rings. This must be taken into consideration to achieve rigid seating.
Running accuracy required
In order to achieve high running accuracy, the same high standard of accuracy and surface quality expected in the bearing must be applied to the shaft and housing as well. In addition, with miniature and thin type bearings irregularities on the shaft or in the housing are transferred to the relatively thin walled bearing rings.
Want to learn more about radial ball bearings and the factors that can extend or shorten their operating lives? Try AST’s new calculator.
If you need assistance with understanding radial ball bearings fits, our team of bearing experts are standing by to provide engineering consulting and design.
