Bearings are key mechanical parts in the manufacturing industry chain. They can not only reduce friction, but also support loads, transmit power and maintain positioning, thereby promoting the efficient operation of equipment. The global bearing market is about 40 billion U.S. dollars and is expected to reach 53 billion U.S. dollars by 2026, with a compound annual growth rate of 3.6%.
The bearing industry can be considered as a traditional industry dominated by enterprises, which has been operating efficiently for decades. In the past few years, only a small number of industries have prominent trends, which are more dynamic than before, and may play an important role in shaping the industry within this decade.
In the past few years, the improvement of the surface texture of rolling elements and raceways and the addition of wear-resistant coatings have accelerated significantly. For example, the development of tungsten carbide coated balls that are both wear-resistant and corrosion-resistant is a major development. These bearings are very suitable for high stress, high impact, low lubrication and high temperature conditions.
As the global bearing industry responds to emission regulatory requirements, improved safety standards, lightweight products with lower friction and noise, increased reliability expectations, and fluctuations in global steel prices, research and development expenditure seems to be a strategic decision leading the market. In addition, most organizations continue to focus on accurate demand forecasts and integrate digitalization into manufacturing to gain global advantages.
Post time: Aug-22-2020