Market Insight

Global mounted roller bearings market making strong gains, growing at a 6 percent CAGR from 2017 to 2022

July 06, 2018

Sudhakar Chaudhary Sudhakar Chaudhary Analyst, Manufacturing Technology

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Highlights

  • Globally, the mounted ball and roller bearings market grew 8.1 percent in 2017 to $3.4 billion
  • The market for mounted bearings was consolidated in 2017, with the top-five global suppliers accounting for 36 percent of total market revenues. This trend towards consolidation is expected to continue for the mounted bearings market as companies look to expand product offerings and regional access via mergers and acquisitions.
  • The performance of the mounted bearings product market is largely dependent on global machinery production and industrial capital expenditure. Overall, the discrete industry sector for mounted roller bearings products is predicted to outperform the market average with revenues growing at a CAGR of 6.2 percent through 2022.

Our Analysis

The global market for mounted ball and roller bearings was $3.4 billion in 2017, an increase of 8.1 percent over the prior year. The performance of the mounted bearings product market is largely dependent on global machinery production and industrial capital expenditure. Overall, the discrete industry sector for mounted roller bearings products is predicted to outperform the market average with revenues growing at a CAGR of 6.2 percent through 2022.

The Americas was the largest regional market for mounted bearings in 2017, with revenues of $1.3 billion, which accounted for 39 percent of global revenue. The mounted bearings market in Europe, Middle East and Africa (EMEA) region was the second largest regional market, with 31.3 percent of total global revenues in 2017. The Asia Pacific market finished third, with total revenues of $1 billion, which accounted for 30 percent of the market.

In products, spherical mounted roller bearings (unitized housing and Plummer block) combined accounted for the largest share, 72.6 percent, of the total mounted roller bearing market with a value of $1.4 billion in 2017.  Revenues from these products are forecast to grow faster than from other roller bearing product types, with a CAGR of 6.2 percent from 2017 to 2022. This is due to the predicted recovery of heavy industries tied to infrastructure and process industries including cement and aggregates. The tapered bearing market accounted for the second largest share, 17.4 percent of the total mounted roller bearing market in 2017 with a value of $344 million. The market for this product type is forecast to benefit from the growth of markets other than mining and oil and gas. Examples are the food, beverage and tobacco, and plastics and rubber industries, though growth in these industries will not be sufficient to counter the effects from the decline of the mining and oil and gas industries. Split cylindrical mounted roller bearings are also tied to the infrastructure-related industries, including material handling, metals, and mining.

Machine tools and food, beverage and tobacco machinery industry sectors were by far the two largest source of revenues among discrete and process industries, accounting for 12.7 percent and 12.2 percent of the total mounted roller bearing market, respectively with a combined value of $491 million in 2017. Nearly 5 million mounted roller bearings were sold into the sector during the year. The food, beverage and tobacco machinery industry sector is forecast to be one of the fastest-growing market segments, with revenues growing at a CAGR of 7.1 percent from 2017 to 2022. Much of this growth is predicted to result from increased investment in food safety by governments and companies around the world. The food, beverage, and tobacco and the packaging and labelling machinery sectors contribute stability and consistent growth to the mounted bearing product market, helping to counter the volatility of the machine tool and semiconductor machinery sectors. Revenues from mounted roller bearings in the machine tools sector are forecast to grow at a CAGR of 5.6 percent over the forecast period. Driven by prices for raw materials, end-user market demand, and economic conditions, the global metal industry is a cyclical one. The machine tool sector comprises metal cutting and forming machinery. Demand in the metal markets will remain intrinsically related to their performance in motor vehicle production, construction, and packaging.

The IHS Markit Mounted Bearings Database provides an analysis of the world market for mounted ball and roller bearings. The goal of this database is to provide personnel responsible for mechanical power transmission products (for example, sales, product, and strategic marketing managers) with key insights and forecasts related to the strength and direction of the global mounted bearing market. Considerable emphasis is placed on providing the reader with the latest available information on how the economic environment in 2017 affected the performance of the market during the base year of the study and which trends will affect the market for mounted bearings in the future.

Research by Market
Manufacturing Technology
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