Raipur, April 14, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Mining Bearings Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfil the market data needs of multiple stakeholders across the industry value chain.
- Bearing Type –
- Ball Bearing - Angular Contact Ball Bearing, Deep Groove Ball Bearing, and Others.
- Roller Bearing - Tapered Roller Bearing, Cylindrical Roller Bearing, Spherical Roller Bearing, and Others.
- Plain Bearings, and Others.
- Material Type - Metallic Bearings, Non-Metallic Bearings, and Hybrid Bearings.
- Application Type - Shovel, Haul Truck, Dragline, Crushing, Screening & Conveying, and Others.
- End-User Type - OE and Aftermarket
- Region - North America, Europe, Asia-Pacific, and the Rest of the World.
View the Report Scope and Table of Contents:
https://www.stratviewresearch.com/toc/1962/mining-bearings-market.html
Market Segments' Analysis
Based on the bearing type-
Roller bearings are expected to remain the most dominant product type in the market during the forecast period, driven by their high-load-carrying capacity and ability to operate in case of shocks and misalignments, helping OEMs to obtain low-maintenance costs and longer bearing service life.
Based on the application type –
Crushing, screening, & conveying is likely to be the leading segment of the market during the forecast period. Tapered, cylindrical, and spherical roller bearings reduce friction for greater operational efficiency in critical locations such as the swing system. The haul truck segment is expected to record healthy growth during the forecast period.
In terms of regions-
Asia-Pacific is expected to be the largest and the fastest-growing market for mining bearings during the forecast period.
- China is not only the largest market in the region but also in the global marketplace, driven by the dominance of the country in the production of coal, gold, and most of the rare-earth minerals, creating a humongous demand for mining equipment.
- North America is also expected to register healthy growth during the forecast period, led by the presence of key players in the region, increasing mining activities in the USA, and the adoption of the latest technology in the mining process.
- The USA is anticipated to be the fastest-growing market in the regional landscape.
COVID-19 Impact on the Mining Bearings Market
The outbreak of the COVID-19 pandemic ruthlessly impacted various industries, shattering all hopes of recovery in 2020 with huge, short as well as long-term repercussions. The entire value chain of the mining industry was also disrupted by the pandemic. The mining bearings market typically relies on the organic growth of the mining industry and usually takes the same path as the latter. Key challenges that arose in front of the industry stakeholders on account of the pandemic were lack of production flexibility, logistics disruptions, along with uncertain future demand.
To know more about the covid-19 impact, get a free sample report, here:
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Who are the Top Market Players?
The supply chain of this market comprises several nodes including raw material suppliers, bearing manufacturers, OEMs, and MRO companies. After a thorough analysis of the market, the experts have listed few key players and discussed the company profiles of the below-given players-
- AB SKF
- Schaeffler Technologies AG & Co. KG
- NSK Ltd.
- The Timken Company
- NTN Corporation
- Trelleborg AB
- C&U Group Ltd.
- LYC Bearing Corporation
- Thordon Bearings Inc.
- Harbin Bearing Manufacturing Co., Ltd. (HRB Group)
What deliverables will you get in this report?
- In-depth analysis of the Mining Bearings Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- The geographical presence of the key players.
Related reports which might be useful:
- Mining Condition Monitoring System Market Size & Share.
- Construction Bearings Market Forecast and Analysis
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