Bearing steel is special steel featuring high wear resistance and rolling fatigue strength. High-carbon chromium bearing steel, engineering steel and some types of stainless steel and heat resistant steel are used as materials of bearings. Growing demand for bearings from automotive industry and development of durable and smart bearings are the major factors driving the market growth.
Bearings are a vital component of automotive parts and are commonly used in engines, generators, motors, wheels, gearboxes, transmission shafts, steering shafts, and steering gears, among others. Its load-carrying characteristics and ability to facilitate the transfer of torque improve the overall performance of rotating parts in an automotive system. The performance of bearings can be enhanced by the correct selection of bearing steel, technology, and lubrication. Moreover, manufacturers are utilizing new raw materials such as lightweight steel alloys to fulfill the demand for lightweight materials from automotive companies. The use of lightweight materials also allows them to keep up with the changing emission norms.
A few of the players operating in the global bearing steel market include Ovako AB, Dongbei Special Steel Group Co Ltd, Ezm Edelstahlzieherei Mark Gmbh, Fushun Special Steel Co Ltd, Hbis Group Co Ltd, Saarstahl AG, Kobe Steel Ltd, Baosteel Group Corp, Benxi Iron And Steel Group Co Ltd, and Sanyo Special Steel Co Ltd. Players operating in the global advanced composites market focus on providing high-quality products to fulfill the customer demand.
