TRUNNION SPHERICAL BEARINGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2022 to 2030)

Trunnion spherical bearings are special type of bearings that are used in equipment that is undergoing two types of stresses, namely axial and rotational. The demand for trunnion spherical bearings has increased in the recent past, owing to rapid adoption of industrial automation in various industries such as oil and gas, chemical, manufacturing, energy, and others. Furthermore, key players in the market are also providing customized trunnion spherical bearings, which will increase demand for trunnion spherical bearings in the near future. For instance, SKF bearing is providing customized bearing for the aviation industry.

The global trunnion spherical bearings market is estimated to account for US$ 60,840 Mn in terms of value by the end of 2030.

Market Dynamics

Increasing demand for trunnion spherical bearings in the manufacturing industry is expected to create lucrative growth opportunities during the forecast period. Manufacturing industry is rapidly growing, owing to increasing demand for electronic components in the world. Electronic component manufacturers are adopting various technologies such as robotics for manufacturing, as it increases the production rate and reduces the production cost by reducing material waste. All production machines such as drilling, rotating equipment, turbines, and others are equipped with trunnion spherical bearings. These are main equipment in any manufacturing plant. Therefore, growing manufacturing industry will drive growth of the global trunnion spherical bearings market over the forecast period. In February 2019, according to a report published by the United Nations Industrial Development Organization, the manufacturing sector registered 3.6% CAGR in 2018.

Furthermore, increasing demand for mining equipment is expected to drive the global trunnion spherical bearings market growth during the forecast period. According to Coherent Market Insights’ analysis, the global mining market was valued at US$ 346.8 billion in 2019 and is expected to register a CAGR of 4.2% over the forecast period 2020-2025. Increasing demand for automation in the mining industry will create growth opportunities for key players. Furthermore, mining equipment such as drilling, grinding, crusher, and others operates under harsh environment such as high temperature, dust, and humidity, which will increase the need for servicing. Among all these machines, bearing is one of the major components that need constant monitoring and servicing, as its life span is affected by environmental parameters.  Thus, increasing demand for mining equipment provides growth opportunities to both the new product market and after service market.

Key features of the study:

• This report provides an in-depth analysis of the global trunnion spherical bearing market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global trunnion spherical bearing market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the global trunnion spherical bearing market are AB SKF, Pratt & Whitney, Rockwell Automation, Inc., Safran S.A., Avio S.p.A., IHI Corporation, AST Bearings LLC, Thomson Industries, Inc., NTN Corporation, NSK Ltd., Schaeffler Technologies AG & Co. KG, General Electric Company, ILJIN co., ltd., JTEKT Corporation, The Timken Company, GMB Corporation, and others.
• The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global trunnion spherical bearing market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global trunnion spherical bearing market.

Detailed Segmentation

• Global Trunnion spherical bearing Market, By Type:
  • Split Spherical Roller Bearings
  • Non-split Bearings
• Global Trunnion spherical bearing Market, By Industry:
  • Aviation
  • Oil and Gas
  • Manufacturing
  • Energy
  • Others
• Global Trunnion spherical bearing Market, By Distribution Channel :
  • Online Sales
  • Company Direct Sales
  • Distributor Sales
•  Global Trunnion spherical bearing Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • AB SKF*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
  • Pratt & Whitney
  • Rockwell Automation, Inc.
  • Safran S.A.
  • Avio S.p.A.
  • IHI Corporation
  • AST Bearings LLC
  • Thomson Industries, Inc.
  • NTN Corporation
  • NSK Ltd.
  • Schaeffler Technologies AG & Co. KG
  • General Electric Company
  • ILJIN co., ltd.
  • JTEKT Corporation
  • The Timken Company
  • GMB Corporation

“*” marked represents similar segmentation in other categories in the respective section.