Trunnion spherical bearings market

Trunnion Spherical Bearings Market, By Type (Split Spherical Roller Bearings and Non-split Bearings), By Industry (Aviation, Oil and Gas, Manufacturing, Energy, and Others), By Distribution Channel (Online Sales, Company Direct Sales, and Distributor Sales), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Jan 2023
CMI3832
130 Pages
Excel & Pdf
Industrial Automation and Machinery

Summary

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

The global trunnion spherical bearings market was valued at US$ 39,640 Mn in 2021 and is expected to exhibit a CAGR of 5.1% during the forecast period (2022 - 2030)

Recent Developments:

In November 2022- SFK, a bearing, and seal manufacturing company announced the acquisition of Tenute Srl, a developer, and manufacturer of sealing solutions. This acquisition has protected Tenute Srl, all leading offers, with a specific focus on customers.
In January 2020- National Engineering Industries Ltd. (NEI) part of CK Birla Group, announced the acquisition of Kinex bearings, a bearing manufacturer. Through this deal NEI plan to expand its product offering, NEI covers more ground geographically, improve services to current clients, and attracts new clients.

Restraint:

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

Trunnion Spherical Bearings Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 39,640 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	5.1 %	2030 Value Projection:	US$ 60,840 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Type: Split Spherical Roller Bearings and Non-split Bearings By Industry: Aviation, Oil and Gas, Manufacturing, Energy, and Others By Distribution Channel: Online Sales, Company Direct Sales, and Distributor Sales
Companies covered:	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
Growth 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
Restraints & Challenges:	Short life span of trunnion spherical bearings is expected to hamper the global trunnion spherical bearings market growth during the forecast period

Global Trunnion Spherical Bearings Market - Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 pandemic has adversely affected the global trunnion spherical bearing market. Trunnion spherical bearing is widely used in the aviation industry, as they have the capability to support substantial axial and radial load combinations of the rolls and cylinders used.

But, due to the pandemic, the aviation industry was shut down and caused disruption in the supply chain. Furthermore, manufacturers faced financial crises due to which many new projects were postponed which directly impacted the sales of the trunnion spherical bearing. Hence, the global trunnion spherical bearing market witnessed slow growth during the pandemic.

Asia Pacific held a dominant position in the global trunnion spherical bearings market in 2021

Statistics:

Asia Pacific held a dominant position in the global trunnion spherical bearings market in 2021, 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 (%), By Region, 2021

Asia Pacific is the leading market in terms of revenue in 2021 and is expected to hold its dominant position over the forecast period. The market growth in these regions is attributed to the growing aviation industry. For instance, the trunnion spherical market is majorly used to support substantial axial and radial load combinations of the rolls and cylinders, which is expected to drive demand for trunnion spherical bearings over the forecast period.

Figure 2: Global Trunnion Spherical Bearings Market (US$ Mn) Analysis and Forecast, 2022 - 2030

The global trunnion spherical Bearing market was valued at US$ 39,640 Mn in 2021 and is expected to reach US$ 60,840 Mn by 2030, growing at a CAGR of 5.1% between 2022 and 2030.

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.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Trunnion Spherical Bearings Market- Global forecast to 2030”.

Segmentation

Detailed Segmentation

- Frequently Asked Questions -

What is the expected market size of the global trunnion spherical bearings market in 2030?

The trunnion spherical bearings market is expected to reach US$ 60,840 million by 2030.

What is the expected compound annual growth rate (CAGR) of themmarket during the forecast period (2022-2030)?

The market is expected to witness a CAGR of 5.1% during the forecast period (2022-2030).

3. What is the primary factor contributing to the growth of the market?

Increasing demand for trunnion spherical bearings in the aviation industry is driving the growth of the market.

Based on industry, which segment held the largest market share in the Market in 2021?

The aviation industry of trunnion spherical bearings held the largest market share among the industry segment in 2021.

Which region held the largest market share in the market in 2021?

Asia Specific held the largest share in the nmarket in 2021.

Who are the key players operating in the market?

The 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.