Thin Section Bearing Market: Introduction
- Thin section bearings refer to those bearings which are designed from a number of width & thickness or cross sections; each cross section is manufactured in a large range of bore diameters. Radial ball bearings are designed in such a way that the bore size increases and width & thickness of the bearing changes proportionally.
Key Drivers of the Global Thin Section Bearing Market
- Thin section ball bearings are increasingly demanded to solve numerous design problems that cannot be resolved by using conventional ball bearings. Thin section ball bearings are used more often in case of space limitations, weight restrictions, and combined loading restrictions. Growing adoption of thin section bearings among various industry verticals is attributed to advantages such as their light weight and space saving properties, high stiffness, accurate positioning, reduction in overall design costs, and easy customization, leading to bearings being successfully used in numerous applications. Additionally, it has multi load capability and comes in a variety of cross sections and sizes. These factors are contributing toward the global growth of the thin section bearing market.
Factor Restraining the Global Thin Section Bearing Market
- High capital and technological expertise are some of the factors which may restrict small and medium scale manufacturers from producing such products.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global thin section bearing market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the thin section bearing market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the thin section bearing market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America thin section bearing market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global thin section bearing market due to the presence of major producers and users of industrial automation equipment. Factors such as wage pressure, trade policies, and technical improvements are driving the robotics market in the U.S. that leads to the increasing adoption of thin section bearing among commercial end-users. This is expected to expand the thin section bearing market in North America.
- The thin section bearing market in the Asia Pacific region is projected to expand rapidly during the forecast period due to the rapid development of economies through industrialization. Moreover, the automotive industry is growing significantly in the region. Emerging countries such as Republic of Korea, Japan, India, and China follow policies such as protecting domestic markets and preferential treatment for vehicle manufacturers, which pushes the growth of the automotive sector. Increasing adoption of thin section bearing among automobiles is propelling the growth of the market in the Asia Pacific region.
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Key Players Operating in the Global Market
Manufacturers in the thin section bearing market are focusing on developing advanced features for ball bearings which will enhance their competitive advantage and subsequently increase their market share. The objective of manufacturers is to provide improved thin section bearings due to technological advancement, and changing preference for innovative products. Companies or designers increasingly choose hardened thin section bearings for hi-tech rotating equipment where low weight & small size are essentially required.
A few of the key players operating in the global thin section bearing market are:
- Cixing Group Co., Ltd.
- CSC Bearing Europe GmbH
- Kaydon Bearings (SKF Group Company)
- NSK Ltd.
- Ritbearing Corporation
- Schatz Bearing Corp.
- Slim Section Bearings, Inc.
- The Timken Company
- TPA
- ZYS INTERNATIONAL CO., LTD.
Global Thin Section Bearing Market: Research Scope
Global Thin Section Bearing Market, by Product Type
- Radial Contact Type Bearings
- Angular Contact Type Bearings
- Four-point Contact Bearings
Global Thin Section Bearing Market, by Application
- Aerospace and Defense
- Food Processing Equipment
- Index and Rotary Tables
- Rail Transportation
- Automobile
- Robotics
- Others (Wind Power, Textile Machinery, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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