
Data Bridge Market Research analyses that the railway bearing market was valued at USD 1.11 billion in 2021 and is expected to reach the value of USD 2.21 billion by 2029, at a CAGR of 9.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Global Railway Bearing Market Dynamics: -
Drivers
Governments around the world, both in developing and developed countries, are investing heavily in railway infrastructure, creating demand for systems and parts used in freight and passenger trains. As the production of railway systems is expected to increase, the use of railway bearings is expected to increase. For instance, the United States allocated $248.5 million in grants in March 2020 to fund several state and local railroad infrastructure projects through the Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program.
Market players are focusing on developing bearings in order to capitalise growing demand
Given that railway carriers are constantly in motion and frequently subjected to harsh physical conditions such as rain, cold temperatures, and extreme heat, mechanical components used in them are expected to be resistant to such extreme physical conditions.
Market players are focusing on developing bearings that can withstand such harsh climatic conditions in order to capitalise on the growing demand. Furthermore, manufacturers are coating the bearings with ceramic or polymers to improve insulation and increase safety. Similarly, the availability of a diverse range of roller and ball bearings, such as cylindrical, tapered, angular contact, four-point contact, electrically insulated, deep groove, and so on, facilitates usage in a variety of sites and applications, driving market revenue.
Opportunity
Among the major factors driving the railway bearing market evenly are increased use of high capacity bearings in wind turbines, growth in bearings in energy-efficient vehicles, and demand in aerospace, railway, and other applications. Furthermore, the incorporation of electro-mechanical features into bearings for medical applications will open up new opportunities for the railway bearing market.
Restraints
Counterfeit products, on the other hand, will act as a restraint and will further challenge the growth of the railway bearing market during the forecast period.
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Global Railway Bearing Market Scope: -
The railway bearing market is segmented on the basis of type, railway type, application and sales channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Roller bearing
Ball and plain bearing
Railway type
Very High Speed Railway
Mainline Railway
Metro Railway
Freight Railway
Special Railway
Application
Engine
Wheels
Interior
Exterior
Sales channel
Original equipment manufacturers (OEM)
Aftermarket
Railway Bearing Market Regional Analysis/Insights: -
The countries covered in the railway bearing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Railway Bearing Market Share Analysis: -
Some of the major players operating in the railway bearing market are:
RUBIX (U.K.)
Harbin Bearing Manufacturing Co., Ltd.(China)
HKT BEARINGS LIMITED. (Korea)
JTEKT Corporation (Japan)
NBI Group (Spain)
NSK Ltd. (Japan)
NTN Corporation (Japan)
RBC Bearings Incorporated (U.S.)
Rexnord Corporation (US)
Schaeffler AG (Germany)
SKF (Sweden)
THE TIMKEN COMPANY (U.S.)
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MAJOR TOC OF THE REPORT: -
Ø Chapter One: Introduction
Ø Chapter Two: Market Analysis and Insights
Ø Chapter Three: Market Dynamics
Ø Chapter Four: Market Scope
Ø Chapter Five: Market Regional Insights
Ø Chapter Six: Competitive Landscape System Market
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