The Global Mounted Bearing Market size is projected to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 5.8%.
A mounted unit is typically a ball or roller bearing set into a housing. These units can be designed for standard ball bearings, roller bearings, and even split bearings that allow easier mounting. They are primarily employed in both, light- and heavy-duty industries ranging from construction and mining to conveyors on a food processing line.
The global mounted bearing market is dominated by major players such as SKF (Sweden), Schaeffler ( Germany), THE TIMKEN COMPANY (US), NSK (Japan), ABB (Switzerland), PT International (US), Jones Bearing Company (US), NTN (Japan), Emerson Bearing Company (US), Jones Bearing Company (US), and JTEKT Corporation (Japan)
China is the largest automobile market in the world. OEMs such as Toyota, Honda, Volkswagen, Daimler, and Nissan have large-scale production bases in the country. Increasing focus on innovation has encouraged OEMs to address a wide array of consumer preferences in the region.
Growing focus on infrastructure developments to accommodate the growing population would represent a suitable business environment for manufacturers in the steel, cement, and metal processing sectors. As a result, industrial machinery producers would witness major growth opportunities post 2020 as the economy in the region rebounds. Major economies are expected to outline economic packages to boost the growth of small and medium companies to combat the downward economic trend due to the COVID-19 pandemic.
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=227619352
Growing focus on infrastructure developments to accommodate the growing population would represent a suitable business environment for manufacturers in the steel, cement, and metal processing sectors. As a result, industrial machinery producers would witness major growth opportunities post 2020 as the economy in the region rebounds. Major economies are expected to outline economic packages to boost the growth of small and medium companies to combat the downward economic trend due to the COVID-19 pandemic. Countries such as China and Japan would be key growth drivers of the Asia Oceania mounted bearing market. Companies have established manufacturing bases in this region, and countries in this region act as major export hubs. Bearing manufacturers such as SKF (Sweden), JTEKT Corporation (Japan), FYH Inc.(Japan), and NTN (Japan) have a strong presence in this region. These manufacturers are rapidly expanding their presence in this region to increase their market share for industrial bearings.
Growth Driver: Adoption of mounted bearings in major industries
The increasing adoption of mounted bearings in major industries such as food & beverages, mining & minerals, and pulp & paper drive the mounted bearing market.
According to the United States Department of Agriculture, food processing plants accounted for a share of 15% of the value of shipments from the US in 2018. Meat processing, dairy, and beverages contributed 24%, 13%, and 12%, respectively to the total food processing shipment in the same year. Improved economic conditions and increased consumption would likely to boost the demand for types of machinery for food processing. Stringent food safety standards and the adoption of new technologies drive the demand for premium mounted bearings. Efficient material handling through conveyers is also expected to increase the demand for mounted bearings in the food processing industry. Mounted bearings are used in packaging and pallet wrapping applications as well.
Major companies in the beverage industry are implementing measures to reduce water and energy consumption during the production process. The use of premium bearings in the conveyor increases sustainability by reducing water consumption. Mounted bearings are primarily used in conveyers for bottling applications.
Mounted bearings are also used in belt loaders, carousels, conveyors, sorters, and stackers in warehouses and distribution centres for material handling and reduce operating costs, and increase high return on investment.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227619352
Opportunity: Increasing development and adoption of sensor-based bearing unit and IoT
Sensors are essential in industrial automation as well as motion control systems. They are the vital link between the data collected through physical systems and the communication link that transmits data to the monitoring facilities or cloud. Sensors are used to keep a check on the performances of bearings, as failed bearing could lead to costly downtime. The
IIoT (Industrial IoT) sensor is a complex combination of software and hardware. IIoT sensors could be used as acoustic and chemical sensors to liquid levels and temperature monitoring sensors. Proximity sensors are another type, which is mounted onto bearings. IoT sensors are not limited to the collection and sending of data but include processing and decision-making functions as well. This added function saves engineering time as well as cost.
Major bearing manufacturers are shifting toward sensor-based mounted bearings, which are expected to enhance early detection of bearing malfunction and monitor performance. ABB is one of the top players in the mounted bearing market. It offers ABB Ability Smart Sensor, an easy-to-use, wireless sensor that monitors the health of ABB Dodge mounted bearings, allowing users to reduce downtime, improve reliability, and operate safely. Warnings on decreasing the health status of mounted bearings allow maintenance before there is a problem, and the system is down
Recent Developments:
- In June 2020, SKF has developed a new mobile app that simplifies the task of mounting and replacing bearings. SKF Bearing Assist app provides detailed mounting instructions for a comprehensive range of SKF bearings. It is suitable for use by all engineering and maintenance teams to avoid incorrect mounting, reduce installation time and cost, and extend the operating life of bearings.
- In June 2019, ABB launched Dodge Safety Mount spherical roller bearings with a built-in patented locking mechanism that reduces installation time by up to 75% compared to traditional products. These bearings are best suited for bulk material and air handling applications, the new bearing mounts by tightening fasteners instead of using a hammer and other tools.
- In March 2019, ABB launched Dodge Food Safe mounted ball bearings, which are designed to withstand caustic, high-pressure cleaning and sanitation processes. The new bearings are the first industrial bearings to achieve the IP69 water protection rating without the use of an end cover, making them ideal for use in the food and beverage industry, where equipment must be aggressively cleaned. They are the only bearings to carry a warranty against failure due to water ingress.
- In March 2019, THE TIMKEN COMPANY expanded its mounted bearing offerings with a new spherical roller bearing solid block housed units. These housed units are suitable for beer pasteurizers and in warming and cooling equipment. It allows easier installation and removal for a multitude of applications as it features new double-nut design. In addition, the double-nut design eliminates difficult measuring process and saves time while mounting. These housed units are suitable for harsh environments.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst