Thrust Bearings Market Report: Regional Data Analysis by Production, Revenue, Price and Gross Margin by 2028
VALLEY COTTAGE, N.Y. – Thrust Bearings Market: Introduction
A bearing is a component which facilitates relative motion between two surfaces. Bearings act as load carriers as well as friction reducers among rolling or sliding parts. Bearings are extensively used in almost every machinery or system and are custom-designed for specific applications or according to ASTM standards and other international standards. Thrust bearings are designed to take axial loads either in one or both directions. Thrust bearings come mainly in two different forms of rollers, i.e. ball thrust bearings and cylindrical thrust bearings. A ball thrust bearing is composed of spherical rollers guided into a raceway groove and washer-like bearing rings.
The bearing rings provide support and transfer the axial load uniformly. A cylindrical thrust bearing is equipped with spherical raceway in the outer ring with rollers diagonally arranged in a single row. Cylindrical thrust bearings have relatively high axial load carrying capacity and are used on the shaft with high axial load. Ball thrust bearings, on the other hand, have relatively less load bearing capacity and are often assisted by another supporting bearing. Some of the other types of thrust bearings are tapered roller thrust bearings, spherical roller thrust bearings, etc. which are have superior load carrying capacity and self-alignment properties.
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Thrust Bearings Market: Dynamics
Bearings are an essential component of machines and find applications in all almost all sectors, including manufacturing, mining, automotive, aerospace, military, consumer goods, electronics, processing plants, etc. There has been significant demand for various types of bearings from different machineries and systems. These bearings are required to reduce frictional loss and ensure reliable operation. Growth in demand has compelled manufactures to continually work on the development of more reliable and application specific bearings. Also, bearings have an extensive large aftermarket as all bearings have an estimated life cycle of millions of revolutions or millions of hours of work, after which the bearing must be replaced with a new one.
Thrust bearings are broadly used in a variety of machines, especially in heavy machineries, such as crushers, compounders, extruders and various other machineries. Growing market for mining machines, plastic processing machines, food processors and other associated machines is anticipated to create substantial market for thrust bearings during the forecast period.
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A typical car uses many thrust bearing in wheels, engines, transmission and various other components and thus, growth in automotive production will be an influential factor for the growth of the thrust bearing market. Aerospace applications require high grade bearings to ensure precise and reliable functioning of every component, which results in high replacement rate of bearings and other components.
The global thrust bearing market is anticipated to witness significant growth in near future, mainly driven by rising demand from both OEMs and aftermarkets. Also, growing efforts for developing more reliable bearings are also intensifying the competition among players participating in the global market.
Thrust Bearings Market: Segmentation
Thrust bearing are available in different bore diameters, outer diameters, dynamic and static load ratings. The thrust bearing market can be segmented as follows:
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- Ball Thrust Bearing
- Cylindrical Roller Bearing
- Spherical Roller Thrust Bearings
- Tapered Roller Thrust Bearing
Thrust Bearings Market: Region-wise Outlook
The estimated size of global bearing market is somewhere between US$ 45 – 50 Bn, with Asia Pacific being the largest market owing to its widespread customer base. Asia Pacific is followed by Europe, North America, Latin America, MEA and Japan. The demand for thrust bearings majorly depends on industrial demand and the demand for repair & maintenance of machines equipped with the designated thrust bearing.
At country level, Germany is anticipated to be the largest market in Europe whereas the U.S is anticipated to dominate the demand in North America market. China, Japan and India are expected to grab larger pies in the Asian Market and China is expected to be the most dominant country in the global market.
Thrust Bearings Market: Market Participants
The global thrust bearings market is assessed to be a fairly consolidated market, with some of the major brands holding highly developed sales and distribution network. Some of the examples of market participants identified across the value chain of the thrust bearing market are SKF AB, Schaeffler Group, THK Company Limited, NSK Limited, JTEKT Corporation, Nachi-Fujikoshi Corporation, RBC Bearings Incorporated, Timken Company, Luoyang Lyc Bearing Company Limited, Federal-Mogul Holdings Corporation, European Bearing Corporation, etc.
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