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【English Market Research Report】World Market for Bearings

【English Market Research Report】World Market for Bearings

Bearings Global Market Report 2022

The global bearing market size is expected to grow from 107.1 billion USD in 2021 to 115.63 billion USD in 2022, with a CAGR of 8.1%, and reach 158.78 billion USD by 2026, with a CAGR of 8.2%. The increasing demand for electric vehicles is anticipated to drive future market growth. This report analyzes the global bearing market, providing information on market characteristics, market size and forecasts, segment and regional analysis, competitive landscape, and profiles of key companies.

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[English Market Research Report] Global Bearing Market

[English Market Research Report] Global Bearing Market

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The global bearing market was valued at approximately 106.96 billion USD in 2021 and is expected to grow at a healthy growth rate of over 9.1% during the forecast period from 2022 to 2029. Bearings are mechanical elements primarily employed to suppress relative motion and reduce friction between moving parts. Bearings are highly used in industries including automotive, agriculture, mining & construction, and others. Market growth is primarily driven by a surge in demand in railway, aerospace, and other applications, along with the growth of high-capacity bearings in wind turbine applications.

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[English Market Research Report] Global Bearing Market

[English Market Research Report] Global Bearing Market

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The global bearing market is expected to show significant growth from 2023 to 2032. Due to increased awareness of global warming and climate change, the adoption of EVs as a mode of mobility is rising, leading to higher demand for bearings. This report investigates and analyzes the global bearing market, providing insights into the industry, segment analysis, regional analysis, and company profiles.

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World Market Report on Bearings

World Market Report on Bearings

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The global bearing market size is projected to grow from 114.21 billion USD in 2022 to 165.1 billion USD by 2028, with a CAGR of 6.36% during the forecast period from 2023 to 2028. The expansion of adoption in the automotive and construction sectors is driving market growth. This report investigates the global bearing market, providing comprehensive information on market dynamics, market analysis, company profiles, and more.

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[English Market Research Report] Global Bearing Market

[English Market Research Report] Global Bearing Market

Global Bearing Market

The global market size for bearings is expected to reach 181.1 billion USD by 2028, growing at a CAGR of 8.8% during the forecast period. Plain bearings are the simplest type of bearing, consisting of a shaft that rotates within a hole. Lubricants are used to minimize friction. In ball bearings and roller bearings, rolling elements such as rollers or balls with a circular cross-section are inserted between the races or journals of the bearing assembly to minimize sliding friction. Various bearing designs can be made to meet the application requirements for optimal efficiency, reliability, durability, and performance. The name "bearing" is derived from the verb "to bear," referring to a mechanical element that supports one part against another. The simplest bearings are made by cutting or shaping the bearing surface into parts, allowing for various controls over surface shape, size, roughness, and arrangement. Other bearings are individual components incorporated into machines or machine parts.

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【English Market Research Report】World Market for Bearings

【English Market Research Report】World Market for Bearings

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The global bearing market size was approximately 55 billion USD in 2017 and is expected to reach around 80 billion USD by 2022. Due to continuous upgrades of products by multiple entrants and an increase in the usage of bearings, the market is projected to reach 120 billion USD by 2028. This report investigates the global bearing market, providing an overview of the market along with trends by product type, application, material type, and region, as well as profiles of companies entering the market.

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[English Market Research Report] Global Bearing Market

[English Market Research Report] Global Bearing Market

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The global bearing market grew from 116.69 billion USD in 2022 to 127.15 billion USD in 2023, with a CAGR of 9.0%. The Russia-Ukraine war has disrupted the potential for global economic recovery from the COVID-19 pandemic, at least in the short term. This bilateral conflict has led to economic sanctions against multiple countries, skyrocketing commodity prices, and supply chain disruptions, causing inflation across goods and services and impacting many markets worldwide. The bearing market is expected to grow to 176.67 billion USD by 2027, with a CAGR of 8.6%.

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