In the machine tool industry, spindles are a critical component used to shape materials through the use of high-speed rotation and pressure. As modern machinery advances, machining equipment is required to be faster, more precise, and more durable than ever before. Bearings are crucial parts that direct and enhance spindle movement. The use of high quality bearings, improves the efficiency and reliability of machine tool spindles, thereby increasing production and reducing wear and tear on machinery.
As the effect of COVID-19 spreads, the overall market has been impacted by COVID-19 and the growth rate has also been impacted in 2019-2020. Our latest research, perspectives, and insights on the management issues that matter most to the companies and organization about the market, which is leading through the COVID-19 crisis to managing risk and digitizing operations to deliver trusted information and experiences to the decision makers.
This report has a detailed outlook of the many changes that have emerged in the Machine Tool Bearing industry depending on upstream and downstream market conditions. A deep analysis of the Covid-19 pandemic inflicted changes in the businesses and the best industrial practices to restore growth trends across regions and countries have been documented in thorough detail to encourage progressive investment decisions by players and aspirants in the global Machine Tool Bearing market.
Based on Type,
On the basis of Product type, the Machine Tool Bearing market has been segmented into Ball Bearing and Roller Bearing. Roller Bearing dominates the global Machine Tool Bearing owing to their high stiffness and greater rigidity, roller bearing evolves in manufacturing industry. The ball-bearing market will drive by their property, such as minimizing heat generation property, especially where higher speeds are desired.
Based on Material,
Based on the application, the global Machine Tool Bearing market has been segregated into Metallic Bearings, Non-Metallic Bearings and Hybrid Bearings. All the three are used by different industries for different purposes.
Based on Application,
Based on the application, the global Machine Tool Bearing market has been segregated into Metal Cutting Machine Tools and Metal Forming Machine Tools. By application type, metal cutting will lead the market due to provide precision and improvise the accuracy into the manufacturing of components required in the automobile industry. Metal forming will boost by investments in the process of automation applications have been increasing, which emphasis more on technology, software, hardware, to make more feasible automation processing.
Based on Region,
On the basis of region, the Machine Tool Bearing market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the world Machine Tool Bearing market over the forecast period owing to the demand of manufacturing components from the major auto industry, which is now rectified towards environmental- free vehicles. Europe is projected to be the fastest-growing market throughout the forecast period due to the presence of the world’s giant auto industry in this region.
The overall purpose of a spindle bearing is to enhance and streamline spindle movement to ensure optimal machine speed and accuracy. Bearings affect the speed, rotation, vibration, precision, and temperature of the machine tool, which in turn alters the quality of the final product.
The Machine Tool Bearing Market 2021 will register a 3.0% CAGR in terms of revenue Over the next five years and the global Market Size will reach 4310.9 Million USD by 2028, Increasing demand for Machine Tool Bearing from various end-user industries including Metal Cutting Machine Tools, Metal Forming Machine Tools is expected to drive the consumption of Machine Tool Bearing Market during the forecast period.
The machine tool bearing consumption volume was 220694.0 K units in 2016 and is expected to reach 225612.8 K units in 2017 and 251434.0 K units in 2022, growing at a CAGR of 2.19% from 2017 to 2022. China`s sales volume accounted for the highest market share (33.58%) in 2016, followed by the Europe and North America.
Asia-Pacific is expected to be the largest and the fastest-growing market for machine tool bearings during the forecast period. Increasing demand for metal cutting machines coupled with the well-developed supply chain and significant expansions and investments in the automotive, oil and gas, and railway industries in the region are among the major factors driving the growth of the region's market for machine tool bearings.
COVID-19 has taken a toll on almost every industry that machine tool players serve. The global crisis left the machine tool industry in disarray. The demand for machine tools declined due to lockdowns, followed by reduced investment in the industry. The machine tool bearings market typically relies on the organic growth of the machine tool industry and usually takes the same path as the latter. Key challenges that arose in front of the industry stakeholders on account of the pandemic were lower orders, supply chain disruptions, along uncertain future demand. Amid pandemic-related shutdowns and economic uncertainties, all major stakeholders have responded by adjusting volume planning to suit the new landscape and focusing on addressing near-term financial management concerns. Robust government support across most of the regions, accompanied by joint efforts of OEMs and other sectoral stakeholders towards mitigating both the short- and long-term challenges of COVID-19, is signalling towards healthy and quick recuperation, helping the machine tool bearings market to grow at a CAGR of 5.2%, which is faster than normal for 2021.
The supply chain of this market comprises several nodes including raw material suppliers, bearing manufacturers, OEMs, and MRO companies. Following are the key players in the machine tool bearings market. Harbin Bearing Group, Fujian Longxi Bearing, TMB, Nachi-Fujikoshi, LYC, Luoyang Bearing, Schaeffler, C&U Group, ZWZ, Minebea, Timken, NTN, SKF, NSK, JTEKT.
To maximize production, machine tools are being pushed to their limits. Simultaneously, machine operations are becoming more and more complicated. Higher speeds and faster development put a lot of strain on the machine's basic components, particularly the spindle units. The industry is shifting towards developing new application-oriented bearings for industry-specific demands. Bearing fabricators are focusing on addressing client needs such as lowering energy losses and increasing capacity through lubrication methods.
Machine Tool Bearing Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||4310.9 Million USD|
|Growth Rate||CAGR of 3.0% during 2021-2028|
|Segment Covered||By Type, By Material, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Harbin Bearing Group, Fujian Longxi Bearing, TMB, Nachi-Fujikoshi, LYC, Luoyang Bearing, Schaeffler, C&U Group, ZWZ, Minebea, Timken, NTN, SKF, NSK, JTEKT.|
Key Segments of the Global Machine Tool Bearing Market
- Ball Bearing
- Roller Bearing
- Metallic Bearings
- Non-Metallic Bearings
- Hybrid Bearings
- Metal Cutting Machine Tools
- Metal Forming Machine Tools
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa