The North America vacuum bearings market is expected to grow from US$ 2,225.10 million in 2022 to US$ 3,373.64 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2022 to 2028.
Raw material accounts for ~60% of a vacuum bearing manufacturer's revenue. As high-grade steel is the major raw material used for manufacturing vacuum bearings, the costs of bearings are greatly correlated with the North America steel price movement. The variation in raw material price challenges the vacuum bearing manufacturers to deliver reasonably priced and high-quality bearings. Further, the raw material price of the automotive vacuum bearing fluctuates as per the market's economic condition. Such price volatility of raw materials is becoming an actual challenge for enterprises to remain competitive. Therefore, fluctuation of raw material price creates challenges for the vacuum bearing manufacturers to manufacture a bearing for a vehicle in terms of quality and price. Additionally, fluctuating supply and demand scenario is hindering the growth of the vacuum bearing industry. The difference in trade strategies, variations in foreign exchange rates, discrepancies in supply and demand, and intensified geopolitical risks across various countries potentially impact the pricing of steel and aluminum bearing materials. Besides, the vacuum bearing components comprise seals and cages that require lubrication at frequent intervals to ensure smooth functioning, thus requiring additional expenses.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America vacuum bearings market . The North America vacuum bearings market is expected to grow at a good CAGR during the forecast period.
Raw material accounts for ~60% of a vacuum bearing manufacturer's revenue. As high-grade steel is the major raw material used for manufacturing vacuum bearings, the costs of bearings are greatly correlated with the North America steel price movement. The variation in raw material price challenges the vacuum bearing manufacturers to deliver reasonably priced and high-quality bearings. Further, the raw material price of the automotive vacuum bearing fluctuates as per the market's economic condition. Such price volatility of raw materials is becoming an actual challenge for enterprises to remain competitive. Therefore, fluctuation of raw material price creates challenges for the vacuum bearing manufacturers to manufacture a bearing for a vehicle in terms of quality and price. Additionally, fluctuating supply and demand scenario is hindering the growth of the vacuum bearing industry. The difference in trade strategies, variations in foreign exchange rates, discrepancies in supply and demand, and intensified geopolitical risks across various countries potentially impact the pricing of steel and aluminum bearing materials. Besides, the vacuum bearing components comprise seals and cages that require lubrication at frequent intervals to ensure smooth functioning, thus requiring additional expenses.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America vacuum bearings market . The North America vacuum bearings market is expected to grow at a good CAGR during the forecast period.
North America Vacuum Bearings Market Segmentation
The North America vacuum bearings market is segmented based on product type, application, material, and country.- Based on product type, the North America vacuum bearings market is divided into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. The cylindrical roller bearings segment would dominate the market in 2022. In terms of application, the North America vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy & power segment would dominate the market in 2022.
- Based on material, the North America vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment would dominate the market in 2022.
- Based on country, the North America vacuum bearings market is segmented into the US, Canada, and Mexico. The US would dominate the North America vacuum bearings market in 2022.
Table of Contents
1. Introduction
3. Research Methodology
4. North America Vacuum Bearing Market Landscape
5. North America Vacuum Bearing Market - Key Market Dynamics
6. Vacuum Bearing Market - North America Market Analysis
7. North America Vacuum Bearing Market - By Type
8. North America Vacuum Bearing Market - By Application
9. North America Vacuum Bearing Market - By Material
10. North America Vacuum Bearing Market - By Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- NSK Ltd
- Schaeffler Technologies AG & Co. KG
- THE TIMKEN COMPANY
- Bunting Bearings, LLC
- TPA Motion, LLC
- GMN Paul Muller Industrie GmbH & Co. KG
- JTEKT Europe Bearings B.V
- UNASIS
- SKF
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2225.1 Million |
| Forecasted Market Value ( USD | $ 3373.64 Million |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | North America |
| No. of Companies Mentioned | 9 |
