Global Anti-friction Bearings Market 2015-2019
About Anti-friction Bearings
Anti-friction bearings are mechanical devices employed to reduce friction between rotating equipment. Based on construction, anti-friction bearings are mainly classified into small- and large-bore ball and roller bearings. Roller bearings are further classified into needle, cylindrical, spherical, and tapered roller bearings.
Technavio's analysts forecast the global anti-friction bearings market to grow at a CAGR of 7.02% during 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global anti-friction bearings market during 2015-2019. For ascertaining the market size and vendor share, the report considers the revenue obtained from the sales of the two types of anti-friction bearings: roller bearings and ball bearings.
Technavio's report, Global Anti-friction Bearings Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Anti-friction Bearings Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Anti-friction Bearings Market: JTEKT Corp., NSK Ltd., NTN Corp., Schaeffler AG & Co. and SKF AB
Other Prominent Vendors in the market are: INA Bearing, Koyo Bearings, Nachi-Fujikoshi and NMB Bearings
Commenting on the report, an analyst from Technavio’s team said: “The leading players in the market are investing heavily in R&D to foster more innovative designs. The market leaders are striving to enhance the inherent characteristics associated with the operation of anti-friction bearings including the expansion of service life, lowering of torque, and reduction of maintenance costs and weight. Some innovative designs developed by global manufacturers such as ceramic bearings are already in use.”
According to the report, customer awareness about the choice of supplier has increased significantly. The decision is essentially made based on the total cost of ownership of the bearings. Therefore, all expenses associated with the purchase and maintenance of a machine or part of the equipment and lubrication expenses are considered before selecting a particular supplier.
Further, the report states that the global anti-friction bearings market is highly fragmented with the presence of many local, regional, and international vendors. Consequently, new players forayed into the market by providing anti-friction bearings at competitive prices. In addition, key vendors worldwide are adopting a low-price strategy to gain market share. This reduction in price will affect their overall profit margins considerably.