Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Trunnion spherical bearing is a special type of bearing, which is used when there is axial load on the shaft with rotational movement. Trunnion spherical bearings also allow certain misalignment of the rotating shaft, which further reduces vibrational in the machine. Due to these benefits provided by trunnion spherical bearings, it finds application in aviation industry, manufacturing industry, oil and gas industry, and others.

The global trunnion spherical bearings market was valued at US$ 37.45 Bn in 2019 and is expected to exhibit a CAGR of 4.7% during the forecast period (2020 - 2027).

Market Dynamics- Drivers

Increasing demand for trunnion spherical bearings in the aviation industry is driving growth of the global trunnion spherical bearings market during the forecast period     

In the aviation industry, trunnion spherical bearings are used in rotors, as the rotor has to operate under rotating motion and with axial wind force. The aviation industry is rapidly growing in emerging economies such as India, China, and Brazil. According to a report published by India Brand Equity Foundation in March 2020, India’s international and domestic combined passenger traffic reached 293.99 Bn in January 2020 and domestic passenger traffic reached 235.44 billion. Furthermore, India has also witnessed increase in foreign direct investment (FDI). For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), India’s aviation industry is expected to witness US$ 4.99 billion investment in the next four years (2020-2024), of which majority of the share will be spent on manufacturing aircraft under the ‘Made in India’ program. Therefore, huge investments in the aviation industry is expected to increase demand for trunnion spherical bearings, thereby driving growth of the global trunnion spherical bearings market during the forecast period.

Statistics:

Asia Pacific held dominant position in the global trunnion spherical bearings market in 2019, accounting for 37.4% share in terms of value, followed by North America, Europe, Latin America and Middle East and Africa, respectively.

Figure 1: Global Trunnion Spherical Bearings Market Share (%), in Terms of Value, By Region, 2019

Trunnion Spherical Bearings  | Coherent Market Insights

Market Restraints

Short life span of trunnion spherical bearings is expected to hamper the global trunnion spherical bearings market growth during the forecast period

The use of trunnion spherical bearings is increased in various industries such as aviation, oil and gas, and others. However, there are certain limitations of trunnion spherical bearings, which may hamper growth of the global trunnion spherical bearings market. Trunnion spherical bearings have a low life span, as it has to operate under two types of stress, rotational and axial, which increases the chances of fatigue failure. Furthermore, increasing axial load causes thermal extraction and contraction in the bearing, which requires timely monitoring. All these parameters contributes to low life span and increasing maintenance cost of these bearings. Thus, short life span of trunnion spherical bearings is expected to hamper the global trunnion spherical bearings market growth during the forecast period.

Market Opportunity

The adoption of humanoid robots is expected to create lucrative growth opportunities for players operating in the global trunnion spherical bearings market

A humanoid robot is a combination of electric and mechanical parts combined with computer technology. Among the mechanical components, trunnion spherical bearings are used for joints such as robotic hands, legs, and others. Humanoid robots are yet to be commercialized, however, according to Coherent Market Insights’ analysis, it is expected to be one of the fastest growing industries over the forecast period. The humanoid robot market is expected to grow from US$ 209.54 billion in 2017 to US$ 4,321.23 billion by 2023, at a CAGR of 53.4% between 2017 and 2023. Thus, the adoption of humanoid robots is expected to create lucrative growth opportunities for players operating in the global trunnion spherical bearings market.

Figure 2: Global Trunnion Spherical Bearings Market Value (US$ Bn), 2017 - 2027

Trunnion Spherical Bearings  | Coherent Market Insights

The global trunnion spherical bearings market was valued at US$ 37.45 Bn in 2019 and is projected to reach a value of US$ 54.14 Bn by 2027 at a CAGR of 4.7% between 2020 and 2027.

Competitive Landscape

Key players operating in the global trunnion spherical bearings market include 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.

Key Developments

  • Key companies in the market are focused on business expansion, in order to gain competitive edge in the market. For instance, in April 2020, Schaeffler Technologies AG & Co. KG started a new bearing production plant in Vietnam. This is company’s first production plant in South Asia region.
  • In January 2020, AESSEAL, a global mechanical seal-based company, invested US$ 16 billion in its U.S. production and operation of bearings

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.

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 bearings market, and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 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 strategies adopted by leading players
  • It profiles leading players in the global trunnion spherical bearings 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 bearings market include 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 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 bearings 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 various strategy matrices used in analyzing the global trunnion spherical bearings market

Detailed Segmentation:

  • Global Trunnion Spherical Bearings Market, by Type:
    • Split Spherical Roller Bearings
    • Non-split Bearings
  • Global Trunnion Spherical Bearings Market, By Industry:
    • Aviation
    • Oil and Gas
    • Manufacturing
    • Energy
    • Others
  • Global Trunnion Spherical Bearings Market, By Distribution Channel :
    • Online Sales
    • Company Direct Sales
    • Distributor Sales
  • Global Trunnion Spherical Bearings 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
      • Future Plans
    • 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

*Browse all the market data tables and figures on “Global Trunnion Spherical Bearings Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Industry
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Coronavirus (COVID-19) Pandemic Impact
  5. Global Trunnion Spherical Bearings Market, By Type, 2017-2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Split Spherical Roller Bearings
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Non-split Bearings
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
  6. Global Trunnion Spherical Bearings Market, By Industry, 2017-2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Aviation
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Oil and Gas
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Manufacturing
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Energy
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
  7. Global Trunnion Spherical Bearings Market, By Distribution Channel, 2017-2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Online Sales
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Company Direct Sales
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
    • Distributor Sales
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Billion)
  8. Global Trunnion Spherical Bearings Market, By Region, 2017-2027  (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Industry, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Industry, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Industry, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Industry, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Industry, 2020–2027 (US$ Billion)
      • Market Size and Forecast, By Distribution Channel, 2020–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • AB SKF
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pratt & Whitney
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Rockwell Automation, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Safran S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Avio S.p.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • IHI Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AST Bearings LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Thomson Industries, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NTN Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NSK Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schaeffler Technologies AG & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • ILJIN co., ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • JTEKT Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Timken Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • GMB Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse XX market data tables and XX figures on “Global Trunnion Spherical Bearings Market-forecast to 2027”

Frequently Asked Questions

The global market for trunnion spherical bearings is expected to reach US$ 54.14 Billion by 2027.
The market is expected to exhibit a CAGR of 4.7% over the forecast period (2020-2027).
Increasing demand for trunnion spherical bearings in the aviation industry is driving growth of the global trunnion spherical bearings market.
Among industry, aviation segment held the largest market share, contributing XX% market share in terms of value in 2019.
Low life span of trunnion spherical bearings is expected to hamper the global trunnion spherical bearings market growth during the forecast period.
The major players operating in the global trunnion spherical bearings market include 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.
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