Trunnion Spherical Bearings Market, By Type (Split Spherical Roller Bearings and Non-split Bearings), By Industry (Aviation, Oil and Gas, Manufacturing, Energy, and Others), By Distribution Channel (Online Sales, Company Direct Sales, and Distributor Sales), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Trunnion spherical bearings are special type of bearings that are used in equipment that is undergoing two types of stresses, namely axial and rotational. The demand for trunnion spherical bearings has increased in the recent past, owing to rapid adoption of industrial automation in various industries such as oil and gas, chemical, manufacturing, energy, and others. Furthermore, key players in the market are also providing customized trunnion spherical bearings, which will increase demand for trunnion spherical bearings in the near future. For instance, SKF bearing is providing customized bearing for the aviation industry.
Increasing demand for trunnion spherical bearings in the manufacturing industry is expected to create lucrative growth opportunities during the forecast period. Manufacturing industry is rapidly growing, owing to increasing demand for electronic components in the world. Electronic component manufacturers are adopting various technologies such as robotics for manufacturing, as it increases the production rate and reduces the production cost by reducing material waste. All production machines such as drilling, rotating equipment, turbines, and others are equipped with trunnion spherical bearings. These are main equipment in any manufacturing plant. Therefore, growing manufacturing industry will drive growth of the global trunnion spherical bearings market over the forecast period. In February 2019, according to a report published by the United Nations Industrial Development Organization, the manufacturing sector registered 3.6% CAGR in 2018.
Furthermore, increasing demand for mining equipment is expected to drive the global trunnion spherical bearings market growth during the forecast period. According to Coherent Market Insights’ analysis, the global mining market was valued at US$ 346.8 billion in 2019 and is expected to register a CAGR of 4.2% over the forecast period 2020-2025. Increasing demand for automation in the mining industry will create growth opportunities for key players. Furthermore, mining equipment such as drilling, grinding, crusher, and others operates under harsh environment such as high temperature, dust, and humidity, which will increase the need for servicing. Among all these machines, bearing is one of the major components that need constant monitoring and servicing, as its life span is affected by environmental parameters. Thus, increasing demand for mining equipment provides growth opportunities to both the new product market and after service market.
Key features of the study:
This report provides an in-depth analysis of the global trunnion spherical bearings market, and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by leading players
It profiles leading players in the global trunnion spherical bearings market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the global trunnion spherical bearings market include AB SKF, Pratt & Whitney, Rockwell Automation, Inc., Safran S.A., Avio S.p.A., IHI Corporation, AST Bearings LLC, Thomson Industries, Inc., NTN Corporation, NSK Ltd., Schaeffler Technologies AG & Co. KG, General Electric Company, ILJIN co., ltd., JTEKT Corporation, The Timken Company, GMB Corporation, and others
The market players are focusing on strategic collaborations to launch new products to meet the increasing needs and requirements of consumers
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global trunnion spherical bearings market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global trunnion spherical bearings market
Global Trunnion Spherical Bearings Market, by Type:
Split Spherical Roller Bearings
Global Trunnion Spherical Bearings Market, By Industry:
Oil and Gas
Global Trunnion Spherical Bearings Market, By Distribution Channel :
Company Direct Sales
Global Trunnion Spherical Bearings Market, By Region:
Middle East and Africa
Pratt & Whitney
Rockwell Automation, Inc.
AST Bearings LLC
Thomson Industries, Inc.
Schaeffler Technologies AG & Co. KG
General Electric Company
ILJIN co., ltd.
The Timken Company
*Browse all the market data tables and figures on “Global Trunnion Spherical Bearings Market- Forecast to 2027”
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