The vacuum bearing market size is projected to reach US$ 19,753.29 million by 2031 from US$ 11,435.62 million in 2023. The market is expected to register a CAGR of 7.1% during 2023–2031. The growing development in the energy and power sector is likely to remain a key trend in the market.
The major end-users of the Vacuum bearing market include Automotive, Manufacturing & Construction, Aerospace & Defense, Energy & Power, and Mining industries. Bearings are one of the most important components of car parts. Bearings are used to support activities at several levels, from steering to transmission to wheels. To learn more about the use of bearings in the automobile industry, read this blog. One of the main businesses that uses a lot of bearings is the car sector. Bearings are deployed in aerospace applications like aircraft landing gear struts, or shock absorbers, to prevent heat damage and ladder cracking on the strut rod surface. The vacuum bearing manufacturer players include HepcoMotion; NSK Ltd; SKF (Kaydon bearings); UNASIS; Bunting bearings, llc; JTEKT Europe Bearings B.V. The advancement in bearing technology is strengthening the demand for vacuum bearings.
The major stakeholders in the global Vacuum bearing market ecosystem include raw material suppliers, vacuum bearing manufacturers, and end-users. The raw material supplier is the crucial stakeholder in the ecosystem of the Vacuum bearing market. The major raw materials are Silicon, Stainless Steel, Hybrid, Other materials primarily used to manufacture the vacuum bearings. The major raw material suppliers include ASTM International, National Bearings, Kineco Limited, Morgan Advanced Materials, etc. ASTM International, which is a raw materials supplier for bearings has announced seven new sponsored Research to Standards (R2S) projects to assist ASTM's Additive Manufacturing Center of Excellence (AM CoE) and its objective to accelerate AM standardization and industry adoption. As a result, increased activities from raw material suppliers are improving vacuum bearing production, fueling the market growth.
In aerospace & defense sector vacuum bearings are utilized in all aircraft, including narrow-body aircraft, wide-body aircraft, freighters, and jets. The basic usage of a vacuum bearing in an aircraft is to lower the axial and radial force applied to shafts. The aerospace vacuum bearings also enable simple movement of seats, doors, and parts of engine management systems and flight control systems without any breakdown. The growing development in the aerospace and defense sector is projected to drive the application of vacuum bearings globally.
Virtually all forms of power generation, such as coal, solar, hydroelectric, nuclear, or gas, primarily depends on a rotating turbine dynamo to transform the mechanical potential of wind, steam, or water into usable electrical energy. Thus, the air-bearing products have numerous and consequential applications to power-generating technology, reducing efficiency and eliminating costly downtime for technologies used and those currently under development. The growing energy demand is driving the government focus on investing more on energy and power sector to meet the rising requirements which is simultaneously driving the growth of vacuum bearing market.
Key segments that contributed to the derivation of the vacuum bearing market analysis are type, application, material.
The geographic scope of the vacuum bearing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is leading the market. Government efforts in the Asia Pacific area, such as the 'Make in India' and 'Make in China' initiatives to enhance the country's manufacturing sector, would also benefit the vacuum bearing industry. The growing development in the manufacturing, mining and aerospace sector is driving the demand for vacuum bearing market in the Asia Pacific region.
The regional trends and factors influencing the Vacuum Bearing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Vacuum Bearing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 11,435.62 Million |
| Market Size by 2031 | US$ 19,753.29 Million |
| Global CAGR (2023 - 2031) | 7.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Vacuum Bearing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Vacuum Bearing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The vacuum bearing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the vacuum bearing market are listed below:
The “Vacuum Bearing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific dominated the vacuum bearing market in 2023.
The growing development in the energy and power sector is the future trend of the vacuum bearing market.
HepcoMotion, NSK Ltd., Schaeffler Technologies AG & Co. KG, The Timken Company, Bunting Bearings, LLC, TPA Motion, LLC, GMN Paul Müller Industrie GmbH & Co. KG, JTEKT Europe Bearings B.V., UNASIS are some of the leading players in the market.
US$ 19,753.29 million estimated value of the vacuum bearing market by 2031.
7.1% is the expected CAGR of the Vacuum Bearing market.