The Vacuum Bearings Market Size Will Reach $16.67 Billion, Globally, By

New York, July 18. Feb. 2, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “vacuum bearing market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Type (cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings and needle roller bearings), application (automotive, manufacturing and construction , Energy & Power, Mining, Aerospace & Defense, and Others) and Materials (Silicon, Stainless Steel, Hybrid and Others)”

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Market size Value in US$9.96 billion in 2021
Market Size Value by $16.67 billion by 2028
Rate of growth CAGR of 7.7% from 2022 to 2028.
Forecast period 2022-2028
base year 2022
Number of pages 180
Number of tables 88
Number of graphs and figures 89
Historical data available Yes
Segments Covered Type, application and material
Regional scope North America; Europe; Asia Pacific; Latin America; AEM
Country scope United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report cover Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

The thriving automotive industry in Europe is supporting the growth of the vacuum bearing market. According to the OICA Statistical Report 2021, the production of motor vehicles in Europe was 1,63,30,509, 1,69,42,248 and 2,15,75,118 in 2021, 2020 and 2019. In addition, the total number of passenger cars produced in the region was 1,38,03,297 in 2021, 1,45,56,548 in 2020 and 1,87,24,208 in 2019, according to the same OICA 2021 statistical report. Germany, France, Spain , the United Kingdom and the Czech Republic are the main countries in Europe that produced the largest number of motor vehicles and passenger cars. Additionally, the national regulatory bodies are taking many initiatives to support the development of the automotive industry in the region. For example, the CARS 2020 action plan, GEAR 2030 and Horizon 2020 are some of the main initiatives of governments. The Horizon 2020 plan focuses on providing funding for research and development (R&D) activities in the automotive industry by launching programs, such as the European initiative for green vehicles and programs on factories of the future and information and communication technologies (ICT) for smart mobility, road transport and logistics. Hence, the presence of a robust automotive industry helps drive the demand for vacuum bearings owing to a large number of motor vehicle productions and several European government programs.

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Vacuum Bearings Market: Competitive Landscape and Key Developments

HepcoMotion; NSK Ltd; Schaeffler Technologies AG & Co. KG; THE TIMKEN COMPANY; Bunting Bearings, LLC; TPA Motion, LLC; GMN Paul Müller Industrie GmbH & Co. KG; JTEKT Europe BV Bearings; UNASIS and SKF are the main players profiled in this study. In addition, several other key market players have also been researched and analyzed to get a comprehensive view of the global Vacuum Bearings market and its ecosystem.

  • At the beginning of 2022, Hepcomotion announced the opening of a new Stockholding Factory in the Netherlands. This new factory is a major effort for the company, and it will speed up and simplify the distribution of products to European customers. The new facility is expected to open in January 2022. It will support the import of all products from HepcoMotion’s UK production for onward distribution throughout Europe.
  • In April 2022, Schaeffler announced its 12-year partnership with Rolls Royce. With the latest production technology and manufacturing methods, Schaeffler will provide long-term support to Rolls-Royce. The contract is primarily for the development and manufacture of engine bearing systems for the widebody and business jet markets. Rolls-Royce and Schaeffler have worked together for over 40 years, resulting in this unusual long-term alliance.

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With the growth of the automotive sector, the demand for vacuum bearings is also increasing as these bearings help improve vehicle performance and increase efficiency by reducing pressure on the brakes when the vehicle is in motion. The bearings also allow the vehicle to readjust when traversing rough terrain and dampen shock and vibration from sudden braking.

The global Vacuum Bearings market is analyzed based on type, application, material, and geography. Based on type, the market is divided into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. Based on application, the market is divided into automotive, manufacturing & construction, energy & power, mining, aerospace, defense, and others. On the basis of materials, 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), Middle East and Africa (MEA) and South America (SAM).

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Vacuum Bearings Market: Type Overview

The demand for cylindrical roller bearings is increasing dramatically due to several features including high load capacity, stiffness, suitable axial displacement, low friction, long life, improved operational reliability, as well as separability and interchangeability. In addition, cylindrical roller bearings are applicable in several industries: fixed gearboxes, automotive gearboxes, electric motors, vibrating motors, wind turbines, off-road equipment, pumps and compressors, material handling equipment, textile machinery, railway vehicles and rolling mills.

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