Vacuum Bearing Market Share, Size, Industry, Analysis - 2028

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Vacuum Bearing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Cylindrical Roller bearings, Tapered Roller Bearings, Spherical Roller Bearings, Thrust Roller Bearings, and Needle Roller Bearings), Application (Automotive, Manufacturing & Construction, Energy & Power, Mining, Aerospace & Defense, and Others), and Material (Silicon, Stainless Steel, Hybrid, and Others)

Publication Month: May 2022 | Report Code: TIPRE00029412 | No. of Pages: 180 | Category: Manufacturing and Construction | Status: Published

The vacuum bearing market size was valued at US$ 9,967.73 million in 2021 and is projected to reach US$ 16,678.55 million by 2028. It is expected to grow at a CAGR of 7.7% from 2022 to 2028.

Vacuum bearings are for special environments, such as corrosive, clean, and high-temperature environments. Bearing materials and lubricants must be carefully chosen to avoid complications. Vacuum bearings find applications in multiple sectors, such as automobile, construction and mining machinery, wind turbines, aerospace equipment, and machine tools. They are used in automobiles to ensure the smooth running of cars and electric vehicles (EVs), and other types of vehicles, including light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs), including trucks.

Factors, such as the rising growth of the global space sector and the benefits of vacuum bearings are influencing the growth of the Vacuum Bearing Market. However, fluctuating raw material prices and high maintenance costs are restraining the growth of the Vacuum Bearing Market. On the contrary, the rising applications of vacuum bearing and surge in technological advancement are contributing to the vacuum bearings market growth.

Recent major developments observed in the global vacuum bearing market are:

In December 2021, NSK Ltd. completed developing a series of environmentally friendly cage bearings. NSK will continue to include bioplastics into its products in the future to reduce carbon emissions and contribute to creating a carbon-neutral society.

Further, in September 2021, SKF released a new spherical roller bearings line in North America. These bearings are designed for continuous casting processes, such as slab, billet, and bloom, to reduce downtime, manufacturing costs, and environmental effect.

The global vacuum bearing market is broadly analyzed on four fronts: Type, application, material, and geography. Based on type, the market is bifurcated into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. Based on application, the market is bifurcated into automotive, manufacturing and construction, energy and power, mining, aerospace, defense, and others. Based on material, the market is segmented into silicon, stainless steel, hybrid, and others. Geographically, the vacuum bearing market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).


Strategic Insights

Report Coverage - Vacuum Bearing Market
Report CoverageDetails
Market Size Value inUS$ 9,967.73 million in 2021
Market Size Value byUS$ 16,678.55 million by 2028
Growth rateCAGR of 7.7% from 2022 to 2028.
Forecast Period2022-2028
Base Year2022
No. of Pages180
No. of Tables88
No. of Charts & Figures89
Historical data availableYes
Segments coveredType, Application, and Material
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Vacuum Bearing Market

In the pre-COVID-19 pandemic, the need for vacuum bearing was prevalent due to the growing global railway sector. For example, the global railway sector is working towards transforming the passenger experience. It is entering a high-speed era, reducing logistical costs and spearheading advanced manufacturing. Several upcoming metro rail projects across major cities have piloted many global players to invest in manufacturing activities in countries such as India.

In 2020, the COVID-19 pandemic negatively impacted the vacuum bearing market's growth due to the decline in the construction industries. The pandemic derailed the entire construction sector with the cancellations and postponements of several construction projects. Furthermore, as governments diverted their focus from development activities to healthcare, the vacuum bearing market was negatively impacted. The overall impact of the COVID-19 pandemic on the market was negative in 2020.

Lucrative Regions for Vacuum Bearing Market

Lucrative Regions for Vacuum Bearing Market

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Market Insights– Vacuum Bearing Market

Rising Growth of Global Space Sector

The increasing funding in the space sector will likely witness increased opportunities, primarily in satellite broadband internet access. For instance, In May 2020, space investments stayed resilient at US$ 25.6 billion, and the impetus for investments had to continue solid in 2021. Space launch facilities recorded strong progress in 2021, with the market forecast to expand more than 15.7% year-over-year (Y-o-Y). Space exploration continued to evolve and flourish in 2021 due to diminishing launch costs and innovations in technology.

Over the long term, prices are expected to continue dropping with companies deploying more satellites in the space ecosystem. For instance, in January 2021, more than 1,000 Starlink satellites were launched into orbit by SpaceX, and the company targets to further launch 4,425 satellites in orbit by 2024. Its launch costs decline because of reusable rockets and the mass production of satellites.

The launch costs for satellites, which have already dropped from US$ 200 million in the past decade to about US$ 60 million presently, have the potential to decrease further to as low as US$ 5 million. Moreover, the launch of the Space Force in December 2019 influenced and propelled public-sector investments in 2021. Further, the US Space Command, which supervises space operations using personnel and assets managed by the Space Force, is expected to support aerospace & defense companies in fast-tracking investments in innovative technologies and capabilities, supporting the use of vacuum bearings. 

Type-Based Insights

Based on type, the global vacuum bearing market is segmented into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. The growth of the Cylindrical roller bearings market  is considerable due to various reasons which include technical aspects as well as end-user requirements. Also, the high adoption of cylindrical roller bearings in various sectos is growing such as automotive sector in some transmission applications, and renewable sector for wind turbines, pumps and compressors. The usage is also popular in heavy duty material handling, heavy equipment and machinery, manufacturing applications such as rolling mills to name a few.

Application-Based Insights

Based on application, the vacuum bearing market is segmented into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. Vacuum bearings application is growing considerably in the aerospace & defense segment due to the growing fleet of commercial and combat aircraft to drive the aerospace bearings and sustained growth of the defense sector, increasing the delivery of military aircraft.

Furthermore, the rising passenger travel has increased the demand for new aircraft for long-haul flights and short-haul flights. It will positively impact this segment over the forecast period.

Material-Based Insights

Based on material, the global vacuum bearing market is segmented into silicon, stainless steel, hybrid, and others. The demand for aluminum alloy bearings is considerably rising because of having a wide variety of applications, such as steel-backed and solid aluminum bearings. These bearings are employed as connecting rods and main bearings in internal combustion engines and industrial compressors. Other aluminum bearing applications include heavy toolings, such as boring mills, presses, lathes, milling machines, grinding mills, and hydraulic pump bushings.

Based on the vacuum bearing market report, players operating in the market are mainly focused on developing advanced and efficient products.

  • In early 2022, Hepcomotion announced the opening of a new Stockholding Factory in the Netherlands. This new plant is a significant endeavor for HepcoMotion, and it will speed up and simplify product distribution to European clients. The new facility is set to open in January 2022. It will take over the import of all commodities from HepcoMotion's production in the UK for onward distribution throughout Europe.
  • In April 2022, Schaeffler announces its 12-year partnership with Rolls Royce. With the newest production technology and manufacturing methods, Schaeffler will provide long-term support for Rolls-Royce. The contract primarily concerns developing and manufacturing engine rolling bearing systems for the widebody and business jet markets. Rolls-Royce and Schaeffler have collaborated for over 40 years, culminating in this unusual long-term alliance.

Frequently Asked Questions

Increasing funding in the space sector will likely witness increased opportunities, primarily in satellite broadband internet access. For instance, In May 2020, space investments stayed resilient at US$ 25.6 billion, and the impetus for investments had to continue solid in 2021. Space launch facilities recorded strong progress in 2021, with the market forecast to expand more than 15.7% year-over-year (Y-o-Y). Space exploration continued to evolve and flourish in 2021 due to diminishing launch costs and innovations in technology. Over the long term, prices are expected to continue dropping with companies deploying more satellites in the space ecosystem. For instance, in January 2021, more than 1,000 Starlink satellites were launched into orbit by SpaceX, and the company targets to further launch 4,425 satellites in orbit by 2024. Its launch costs decline because of reusable rockets and the mass production of satellites. The launch costs for satellites, which have already dropped from US$ 200 million in the past decade to about US$ 60 million presently, have the potential to decrease further to as low as US$ 5 million. Moreover, the launch of the Space Force in December 2019 influenced and propelled public-sector investments in 2021. Further, the US Space Command, which supervises space operations using personnel and assets managed by the Space Force, is expected to support aerospace & defense companies in fast-tracking investments in innovative technologies and capabilities, supporting the use of vacuum bearings.
The railway industry emphasizes reducing costs and enhancing more on increasing the life of rails. Bearings are used in railway gearboxes to dampen the shocks and vibrations that are caused due to force generated by the traction motor and wheels running on tracks. Thus, severe operating conditions increase engine maintenance and downtime. Several developments in bearings have fueled the growth of bearing in the railway sector. For example, tapered roller bearings support pinion shafts that require regular adjustments and expert maintenance to reduce maintenance costs. In addition, increasing public awareness and the growing need for EVs have increased bearing utilization in EVs. Bearings are developed to overcome lean lubrication conditions. A smaller bearing size has improved the gearbox's overall efficiency, increasing the driving range of EVs. Rolling bearings are widely used in rolling mills designed to sustain tough working conditions. Thus, bearings used in rolling mills possess an ability to support flaking mechanisms, high load capacity, and enhanced shelf life of rolling mills.
The cylindrical roller bearings segment led the vacuum bearing market with a share of 32.1% in 2021.
APAC held the largest market share of 34.6% in 2020, followed by Europe and North America.
The major companies in well completion equipment and services includes SKF; Gebr. Reinfurt GmbH & Co. KG; THE TIMKEN COMPANY; NSK Ltd; and RBC Bearings.
The stainless steel segment led the vacuum bearing market with a share of 47.4% in 2021

The List of Companies - Vacuum Bearing Market

  1. HepcoMotion
  2. NSK Ltd.
  3. Schaeffler Technologies AG & Co. KG
  4. THE TIMKEN COMPANY
  5. Bunting Bearings, LLC
  6. TPA Motion, LLC
  7. GMN Paul Müller Industrie GmbH & Co. KG
  8. JTEKT Europe Bearings B.V.
  9. UNASIS
  10. SKF
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global vacuum bearing market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global vacuum bearing market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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