Bearing Isolators Market - Forecast (2022-2027)

Manideep Moluguri

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Bearing Isolators Market - Forecast (2022-2027)

Bearing Isolators Market Share, Size and Industry Growth Analysis 2022 – 2027

The Global Bearing Isolators Market size is forecasted to reach $1.42 billion by 2027, growing at an estimated CAGR of 3.45% from 2022 to 2027. Bearing isolators are dynamic seals designed to protect bearings from outside contaminants. They are comprised of a rotor (rotating) and stator (stationary) member. In addition to this, they also have lip materials such as Polyoxymethylene, Polyetheretherkeytone, fluoroelastomer, fluorosilicone and others. Rising awareness about the advantages offered by bearing isolators and their growing demand from end-use industries such as oil & gas, chemical processing, mining, paper & pulp and manufacturing for applications in preventing machine rust, contamination and lubrication leakage protection are driving the Bearing Isolators market share. Moreover, the rise in benefits of bearing isolators and growing demand from emerging countries would ensure robust growth of the market. Moreover, increasing industrialization across the globe and constant demand for the lubrication of the machine and the introduction of high speed, high-accuracy and high torque capacity Bearing Isolators create lucrative opportunities for the key players in the Bearing Isolators industry.

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Bearing Isolators Market Report Coverage

The Report : The “Bearing Isolators Market Report - Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Bearing Isolators Market.

By Type : Metallic and Non-Metallic.

By End-Use Industry : Oil & Gas, Chemical industry, Mining and Metal, Paper & Pulp, Manufacturing and Others.

By Geography : North America (the U.S, Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina and others) and RoW (the Middle East and Africa).

Key Takeaways

The chemical industry is analyzed to grow with the highest CAGR of 5.61% during the forecast period 2022-2027. The increasing awareness about the advantages offered by bearing isolators and the rising usage of these isolators in chemical processing are driving the Bearing Isolators market growth during the forecast period.
The Consumer Electronics sector is analyzed to witness the highest growth due to increasing penetration of biometric scanning and other cutting-edge 3D sensing technologies in consumer electronic products.
Bearing isolators help minimize downtime and replacement expenses. The increase in demand to prevent machine rust is anticipated to drive the production of Bearing Isolators in the upcoming years.
Bearing Isolators companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.

Global Bearing Isolators Market Value Share by Geography, 2021 (%)

Bearing Isolators Market

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Bearing Isolators Market Segment Analysis – by type

The Metallic Bearing Isolators market is estimated to witness the highest growth with an estimated CAGR of 5.56% in the forecast period. These Bearing Isolators are majorly used in view of their properties that restrict contamination, thereby acting as a key driver for market growth. The demand for metallic bearing isolators from the chemical and oil & gas industries also acts as another key factor that boosts the growth of the bearing isolators market throughout the world. These metallic bearing isolators offer superior bearing protection from airborne dust or other contaminations. It is the ideal bearing isolator in oil & gas, chemical processing, metal processing and mining industries. Metallic Bearing isolators made of non-sparking bronze are essential for process industries that do not tolerate sparking due to the risk of explosion. In 2020, Garlock has launched FLOOD-GARD Bearing Isolators for flooded applications. This metallic bearing isolator provides bearing protection even in the most challenging flooded environments, extending the life of rotating equipment such as gearboxes, pumps and motors. In addition, this Flood-guard bearing isolator is available in various materials such as fluoroelastomer, Fluorosilicone, polyoxymethylene, polyetheretherkeytone and others. Hence these kinds of advancements are analyzed to drive the Bearing Isolator industry in the forecast period 2022-2027.

Bearing Isolators Market Segment Analysis – by End-user

The chemical industry is analyzed to grow with the highest CAGR of 5.61% during the forecast period 2022-2027. Growing awareness about the advantages offered by bearing isolators and the rising usage of these isolators in chemical processing are driving the bearing isolators market growth during the forecast period. In the chemical industry, bearing isolators were applied to process pumps. Many companies across the globe have been investing heavily in the growth of the chemical industry. In 2021, Dow plans to invest around $250 million to construct specialty polyurethanes and alkoxylates facilities, with a total production capacity of about 250,000 tons. In addition, governments of several countries have been investing heavily to boost the growth of chemical industries. In 2022, the Government of India launched a 12 PLI scheme with an investment of US$107 billion for different sectors which would directly or indirectly benefit the chemicals sector. Hence these factors are analyzed to drive the Bearing Isolators market share in the forecast period 2022-2027.

Bearing Isolators Market Segment Analysis – by Geography

By Geography, the Bearing Isolators market is segmented into North America, Europe, APAC, South America and the RoW. North America has dominated the market with 38% in 2021. Countries such as the U.S. and Canada emerge as lucrative regions for bearing isolators market with surging demand from Oil & Gas, Metal & steel, pharmaceutical, dairy and food & beverage processing industries. The construction of new oil refineries and factories to meet the increasing demand for oil & offshore exploration and production activities in the U.S. is anticipated to further drive the Bearing Isolator market. The newest refinery in the United States is the Texas International Terminals and it started operating in February 2022. In July 2020, the U.S., Mexico and Canada entered into an agreement called the United States-Mexico-Canada Agreement (USMCA). It is a critical milestone for the North American steel sector, its workers and its supply chains. The USMCA would strengthen the competitiveness of all three trading partners while enhancing the development of North America’s globally competitive advanced manufacturing sector, particularly for North American steel producers. Such initiatives would create more opportunities and drive Bearing Isolators industry outlook during the forecast period.

Bearing Isolators Market Drivers

Rise in the number of accidents in industries:

With the increasing proportion of industrial damage and accidents, there has been an increase in demand for lubrication. Therefore more preference is given to bearing isolators. According to a report given by IndustriALL Global Union, as many as 116 industrial accidents in the Indian chemical and mining industries that resulted in the deaths of at least 231 workers were reported between May 2020 and June 2021. Similarly, a series of explosions and fires at the Jiangsu Tianjiayi Chemical Company, China, almost completely destroyed this chemical plant, resulting in at least 78 deaths, 640 injuries and huge property loss. Such factors are analyzed as the prime factors, fostering the demand for bearing isolators. Moreover, stringent regulations are also expected to obligate end-use industries in developed regions to adopt bearing isolators over the forecast period. In addition, Bearing Isolators help in reducing replacement, repair and downtime costs which are estimated to drive revenue sales in the Bearing Isolators market.

Technological advancements of Bearing Isolators:

Advancements in technologies have led to the development of Bearing Isolators to replace the traditional seals. Many manufacturers have been developing technically advanced bearing isolators. Garlock, a manufacturer of high-performance fluid sealing products - labyrinth design, provides bearing protection even in the most challenging environments, extending the life of rotating equipment. In addition, this company has launched FLOOD-GARD Bearing Isolators, which offer the proven performance of Garlock bearing isolators for flooded applications. The patent-pending seal design provides bearing protection even in the most challenging flooded environments, extending the life of rotating equipment such as gearboxes, pumps and motors. Furthermore, bearing isolators with compound labyrinth seals and dynamic O-rings have become common. They are a proven way to protect bearing lubrication. In addition, this O-ring is available in various materials such as fluoroelastomer, Fluorosilicone, polyoxymethylene, polyetheretherkeytone and others. Several companies manufacture bearing isolators that use O-rings technology. The introduction of high speed and high torque capacity Bearing Isolators is estimated to drive demand for high-accuracy Bearing Isolators in the forecast period 2022-2027.

Bearing Isolators Market Challenges

High Price of Bearing Isolators and fluctuations in raw material prices:

Bearing Isolators generally cost five times as much as a common rubber lip seal. In addition to these, fluctuations in the prices of the raw material required to manufacture bearing isolators are also a challenge to the growth of the global bearing isolators market. In most cases, bronze is used in the bearing isolators, as it enables the transfer of the vapor. They can also be made of stainless steel, titanium and aluminum. These metal prices are constantly fluctuating throughout the market and could be frustrating for individuals and business owners looking to sell them. Thus, the constant fluctuations in metal prices would affect the cost of isolated bearing thereby hindering the Bearing Isolators market growth in the forecast period 2022-2027.

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Bearing Isolators Market Landscape

Product innovations, acquisitions, Partnerships and R&D activities are key strategies players adopt in the Bearing Isolators market. The top 10 companies in the Bearing Isolators market include: