Vacuum Bearing Market Analysis, Size, and Share by 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

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 Regional Insights

The regional trends and factors influencing the Vacuum Bearing Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Vacuum Bearing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Vacuum Bearing Market Report Scope

Vacuum Bearing Market Players Density: Understanding Its Impact on Business Dynamics

The Vacuum Bearing Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

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