Vacuum Bearing Market Size and Trends (2021-2031)
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.
Vacuum Bearing Market Analysis
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.
Vacuum Bearing Market Overview
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.
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Vacuum Bearing Market: Strategic Insights
Market Size Value in US$ 9,967.73 million in 2021 Market Size Value by US$ 16,678.55 million by 2028 Growth rate CAGR of 7.7% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
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Vacuum Bearing Market: Strategic Insights
| Market Size Value in | US$ 9,967.73 million in 2021 |
| Market Size Value by | US$ 16,678.55 million by 2028 |
| Growth rate | CAGR of 7.7% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Vacuum Bearing Market Drivers and Opportunities
Growing implementation of vacuum bearing in aerospace and defense sector to Favor Market
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.
Growing development in the energy and power sector
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.
Vacuum Bearing Market Report Segmentation Analysis
Key segments that contributed to the derivation of the vacuum bearing market analysis are type, application, material.
- Based on the type, the vacuum bearing 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 held a larger market share in 2023.
- Based on the application, the vacuum bearing market is divided into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy and power segment held a larger market share in 2023.
- Based on the material, the vacuum bearing market is divided into silicon, stainless steel, hybrid, and others. The stainless steel segment held a larger market share in 2023.
Vacuum Bearing Market Share Analysis by Geography
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.
Vacuum Bearing Market Report Scope
Vacuum Bearing Market News and Recent Developments
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:
- HepcoMotion opened a new Stockholding Factory in the Netherlands. This new plant is a significant new endeavour for HepcoMotion, and it is anticipated to speed up and simplify product distribution to EU clients. (Source: HepcoMotion, Press Release, January 2022)
- Schaeffler Technologies AG & Co. KG announced its 12-year partnership with Rolls Royce. With the newest production technology and manufacturing methods, Schaeffler is anticipated to provide long-term support for Rolls-Royce. (Source: Schaeffler Technologies AG & Co. KG, Press Release, April 2022)
Vacuum Bearing Market Report Coverage and Deliverables
The “Vacuum Bearing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Vacuum bearing market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Vacuum bearing market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Vacuum bearing market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the vacuum bearing market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and Material
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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