Duplex Bearings Market Overview:
The goal of this research is to give a comprehensive analysis of the Duplex Bearings market by component, application, industry, and geography. The paper goes into great detail on the major variables impacting the growth of the Duplex Bearings market. The report also provides a thorough examination of the market's value chain.
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Duplex Bearings Market size was valued at US$ 5.2Bn. in 2020 and expected to reach US$ 8.35Bn. by 2027 at a CAGR of 7% during the forecast period.
Market Scope:
The "Global Duplex Bearings Market Analysis" is a detailed investigation of the Duplex Bearings market, with a focus on global market trends and analysis. The goal of this research is to provide an overview of the Duplex Bearings market as well as detailed market segmentation based on connection type, end-use, and geography. The Duplex Bearings market is expected to grow substantially over the forecast period. The study contains critical information on the market positions of the leading Duplex Bearings players, as well as noteworthy industry trends and opportunities.
Secondary research is used to examine and forecast the Duplex Bearings market, and it begins with sources that gather revenue data from important suppliers. When estimating market segmentation, vendor offerings are also taken into account. Using the income of key firms, the whole size of the Duplex Bearings market was determined using the bottom-up technique.
Drivers:
The main demand generators for the market are the rising demand for better shaft locations for assembly of bearing parts and the global trend toward compact devices. The primary factor thought to propel the growth of the market is the rising demand for radial clearance in the manufacture of aircraft, construction load manoeuvring, and robotics equipment. In 2019, the construction equipment industry accounted for about 2.6 billion USD in duplex bearing applications, per an article in Engineering 360 magazine.
Segmentation:
Tandem bearing mountings, which have a higher axial stiffness than face-to-face and back-to-back arrangements of bearings, accounted for about 2.9 billion USD in the United States in 2019, according to the American Bearing Manufacturers Association. Tandem bearings are used in unique situations where it is impractical to accommodate more bearings and the bearing size and allocation parameters are being restricted by the diameter. Additionally, tandem bearings account for roughly 29% of market share in the construction industry and 17% in the manufacture of aircraft, respectively.
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Key Players:
The major players covered in the Duplex Bearings market report are
• SKF
• Emerson Bearing
• NSK
• RBC Bearings
• NTN Corporation
• PIB Bearings, Inc.
• IEC
• NHBB
• GRW
• Aisin Seiki Corporation
• JTEKT Corporation
• Schaeffler AG
• Timken
• THK
• MRC Bearings
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Regional Analysis:
Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.
COVID-19 Impact Analysis on Duplex Bearings Market:
The COVID-19 outbreak has affected industries such as aerospace and defense, agriculture, autos, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. COVID-19 has had an influence on the Duplex Bearings market as a whole, as well as the growth rate in 2019-2020 as the impact of COVID-19 spreads. Our most recent investigation, viewpoints, and pieces of administration expertise are vital to the firms and associations in the Duplex Bearings sector, which is driving through the COVID-19 emergency to handle risk digitizing tasks in order to communicate trustworthy data and experiences to CEOs.
Key Questions Answered in the Duplex Bearings Market Report are:
- Which segment grabbed the largest share in the Duplex Bearings market?
- What is the competitive scenario of the Duplex Bearings market in 2020?
- Which are the key factors responsible for the Duplex Bearings market growth?
- Which region held the maximum share in the Duplex Bearings market in 2020?
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