Asia Pacific Vacuum Bearings Market Forecast to 2028 – COVID

Asia Pacific Vacuum Bearings Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Cylindrical Roller Bearings, Tapered Roller Bearings, Spherical Roller Bearings, Thrust Roller Bearings, and Needle Roller Bearings), Application (Automotive, Manufacturing & Construction, Energy & Power, Mining, Aerospace & Defense, and Others), and Material (Silicon, Stainless Steel, Hybrid, and Others)

Report Code : BMIRE00025901 | Region : Asia Pacific | Industry : Manufacturing and Construction | Published Date : 15/Sep/2022

The APAC vacuum bearings market is expected to grow from US$ 5,124.21 million in 2022 to US$ 8,041.30 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028.

Increasing funding in the space sector will likely witness increased opportunities, primarily in satellite broadband internet access. For instance, In May 2020, space investments stayed resilient at US$ 25.6 billion, and the impetus for investments had to continue solid in 2021. Space launch facilities recorded strong progress in 2021, with the market forecast to expand more than 15.7% year-over-year (Y-o-Y). Space exploration continued to evolve and flourish in 2021 due to diminishing launch costs and innovations in technology. Over the long term, prices are expected to continue dropping with companies deploying more satellites in the space ecosystem. For instance, in January 2021, more than 1,000 Starlink satellites were launched into orbit by SpaceX, and the company targets to further launch 4,425 satellites in orbit by 2024. Its launch costs decline because of reusable rockets and the mass production of satellites. The launch costs for satellites, which have already dropped from US$ 200 million in the past decade to about US$ 60 million presently, have the potential to decrease further to as low as US$ 5 million. Moreover, the launch of the Space Force in December 2019 influenced and propelled public-sector investments in 2021. These factors mentioned above positively impact the demand for various types of bearings, which play a vital part in producing space shuttles and other space launch components. For example, working in high temperatures between -200°C and +280°C, GGB's plain bearings have functioned as the primary suspension modules in the robotic drilling arm of NASA's Curiosity Mars rover. Also, the self-lubricating metal-polymer bearings are GGB's essential products in the aerospace sector. Besides GGB bearings, Curiosity used Timken's precision bearings in its descent to Mars in March 2021, and so did the other two rovers before it, namely, Spirit and Opportunity. Curiosity also used Timken bearings in the center core of its carousel system as it switched to position sample cups for gathering and examining rock, soil, and atmosphere. In addition, 2 6.35 mm Timken bearings operate Curiosity's tiny vacuum pump, which supports the rover's analytical equipment. Therefore, the demand for vacuum bearings is increasing due to rising growth of APAC space sector.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC vacuum bearings market . The APAC vacuum bearings market is expected to grow at a good CAGR during the forecast period.

APAC Vacuum Bearings Market Revenue and Forecast to 2028 (US$ Million )

APAC Vacuum Bearings Market Segmentation

The APAC vacuum bearings market is segmented based on product type, application, material, and country. Based on product type, the APAC vacuum bearings market is divided into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. The cylindrical roller bearings segment would dominate the market in 2022. In terms of application, the APAC vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy & power segment would dominate the market in 2022. Based on material, the APAC vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment would dominate the market in 2022. Based on country, the APAC vacuum bearings market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China would dominate the APAC vacuum bearings market in 2022.

Key players operating the APAC vacuum bearings market include HepcoMotion; NSK Ltd; Schaeffler Technologies AG & Co. KG; THE TIMKEN COMPANY; TPA Motion, LLC; GMN Paul Muller Industrie GmbH & Co. KG; JTEKT APAC Bearings B.V; UNASIS; and SKF by Altair.

At 7.7% CAGR, the Asia Pacific Vacuum Bearings Market is speculated to be worth US$ 8,041.30 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the APAC vacuum bearings market was valued at US$ 5,124.21 million in 2022 and is expected to reach US$ 8,041.30 million by 2028, registering an annual growth rate of 7.7% from 2022 to 2028. Expanding growth of APAC space sector and benefits of vacuum bearings.

The faster pace of advancements in the urban air mobility sector has been increasing expectations for the wide-scale commercialization of flying cars to reduce overcrowding in urban areas and ease access to mountainous areas and remote islands. Requirement for unmanned drones is also anticipated in aerial photography and surveillance, disaster rescue, agriculture, light cargo transport, and hobby applications. For instance, in November 2020, NSK announced the development of a motor hub with an adjustable-pitch propeller mechanism at the Flying Car Technology Expo, which helps in the rotation of the propeller and modifies the tilt of the blades to change the course of propulsive force and lift for flying cars. Also, the motor hub with an adjustable-pitch propeller mechanism utilizes bearings and ball screws produced by NSK company. Thus, numerous technological advancements are now permitting the production of highly advanced specialized vacuum bearings. Additionally, sensor units can now be assimilated into bearings; these bearings are aptly mentioned as smart bearings. Therefore, the rise in technological advancement in vacuum bearings will create future demand for vacuum bearings. This is expected to drive the market during the forecast period.

On the contrary, conflicting raw material prices and high maintenance cost hurdles the growth of APAC vacuum bearings market.

Based on product type, the APAC vacuum bearings market is divided into cylindrical roller bearings, tapered roller bearings, spherical roller bearings, thrust roller bearings, and needle roller bearings. The cylindrical roller bearings vacuum bearings segment held 32.5% market share in 2022, amassing US$ 1,663.27 million. It is projected to garner US$ 2,730.51 million by 2028 to expand at 8.6% CAGR during 2022–2028.

Based on application, the APAC vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy & power segment held 27.4% market share in 2022, amassing US$ 1,402.75 million. It is projected to garner US$ 2,266.03 million by 2028 to expand at 8.3% CAGR during 2022–2028.

Based on material, the APAC vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment held 49.5% market share in 2022, amassing US$ 2,535.47 million. It is projected to garner US$ 3,864.54 million by 2028 to expand at 7.3% CAGR during 2022–2028.

Based on country, the APAC vacuum bearings market has been categorized into the Australia, China, India, Japan, South Korea, and Rest APAC. Our regional analysis states that China captured 62.5% market share in 2022. It was assessed at US$ 3,202.63 million in 2022 and is likely to hit US$ 4,936.30 million by 2028, exhibiting a CAGR of 7.5% during the forecast period.

Key players dominating the APAC vacuum bearings market are HepcoMotion; NSK Ltd; Schaeffler Technologies AG & Co. KG; THE TIMKEN COMPANY; TPA Motion, LLC; GMN Paul Muller Industrie GmbH & Co. KG; JTEKT APAC Bearings B.V; UNASIS; and SKF, among others.

In Jan 2022, Schaeffler and technology company PTC establish a strategic partnership. In April 2022, Timken to Acquire Spinea, Increasing Robotics and Automation Offerings in Attractive and Growing End Markets.

TABLE OF CONTENTS

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 APAC Vacuum Bearing Market – By Type

1.3.2 APAC Vacuum Bearing Market – By Application

1.3.3 APAC Vacuum Bearing Market – By Material

1.3.4 APAC Vacuum Bearing Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. APAC Vacuum Bearing Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 APAC

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. APAC Vacuum Bearing Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Expanding Growth of APAC Space Sector

5.1.2 Benefits of Vacuum Bearings

5.2 Market Restraints

5.2.1 Conflicting Raw Material Prices and High Maintenance Cost

5.3 Market Opportunities

5.3.1 Growing Applications of Bearing

5.4 Future Trends

5.4.1 Growth in Technological Advancement

5.5 Impact Analysis of Drivers and Restraints

6. Vacuum Bearing Market – APAC Market Analysis

6.1 Vacuum Bearing Market APAC Overview

6.2 APAC Vacuum Bearing Market Forecast and Analysis

7. APAC Vacuum Bearing Market – By Type

7.1 Overview

7.2 APAC Vacuum Bearing Market, By Type (2021 and 2028)

7.3 Cylindrical Roller Bearings

7.3.1 Overview

7.3.2 Cylindrical Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

7.4 Tapered Roller Bearings

7.4.1 Overview

7.4.2 Tapered Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

7.5 Spherical Roller Bearings

7.5.1 Overview

7.5.2 Spherical Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

7.6 Thrust Roller Bearings

7.6.1 Overview

7.6.2 Thrust Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

7.7 Needle Roller Bearings

7.7.1 Overview

7.7.2 Needle Roller Bearings: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

8. APAC Vacuum Bearing Market – By Application

8.1 Overview

8.2 APAC Vacuum Bearing Market, By Application (2021 and 2028)

8.3 Automotive

8.3.1 Overview

8.3.2 Automotive: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

8.4 Manufacturing & Construction

8.4.1 Overview

8.4.2 Manufacturing & Construction: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

8.5 Energy & Power

8.5.1 Overview

8.5.2 Energy & Power: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

8.6 Mining

8.6.1 Overview

8.6.2 Mining: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

8.7 Aerospace & Defense

8.7.1 Overview

8.7.2 Aerospace & Defense: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

8.8 Others

8.8.1 Overview

8.8.2 Others: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

9. APAC Vacuum Bearing Market – By Material

9.1 Overview

9.2 APAC Vacuum Bearing Market, By Material (2021 and 2028)

9.3 Silicon

9.3.1 Overview

9.3.2 Silicon: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

9.4 Stainless Steel

9.4.1 Overview

9.4.2 Stainless Steel: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

9.5 Hybrid

9.5.1 Overview

9.5.2 Hybrid: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

9.6 Others

9.6.1 Overview

9.6.2 Others: Vacuum Bearing Market Revenue and Forecast To 2028 (US$ Million)

10. APAC Vacuum Bearing Market – By Country Analysis

10.1 APAC: Vacuum Bearing Market

10.1.1 Overview

10.1.3 APAC Vacuum Bearing Market Breakdown, by Country

10.1.3.1 Australia Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)

10.1.3.1.1 Australia Vacuum Bearing Market Breakdown, By Type

10.1.3.1.2 Australia Vacuum Bearing Market Breakdown, By Application

10.1.3.1.3 Australia Vacuum Bearing Market Breakdown, By Material

10.1.3.2 China Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)

10.1.3.2.1 China Vacuum Bearing Market Breakdown, By Type

10.1.3.2.2 China Vacuum Bearing Market Breakdown, By Application

10.1.3.2.3 China Vacuum Bearing Market Breakdown, By Material

10.1.3.3 India Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)

10.1.3.3.1 India Vacuum Bearing Market Breakdown, By Type

10.1.3.3.2 India Vacuum Bearing Market Breakdown, By Application

10.1.3.3.3 India Vacuum Bearing Market Breakdown, By Material

10.1.3.4 Japan Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)

10.1.3.4.1 Japan Vacuum Bearing Market Breakdown, By Type

10.1.3.4.2 Japan Vacuum Bearing Market Breakdown, By Application

10.1.3.4.3 Japan Vacuum Bearing Market Breakdown, By Material

10.1.3.5 South Korea Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)

10.1.3.5.1 South Korea Vacuum Bearing Market Breakdown, By Type

10.1.3.5.2 South Korea Vacuum Bearing Market Breakdown, By Application

10.1.3.5.3 South Korea Vacuum Bearing Market Breakdown, By Material

10.1.3.6 Rest of APAC Vacuum Bearing Market, Revenue and Forecast to 2028 (US$ million)

10.1.3.6.1 Rest of APAC Vacuum Bearing Market Breakdown, By Type

10.1.3.6.2 Rest of APAC Vacuum Bearing Market Breakdown, By Application

10.1.3.6.3 Rest of APAC Vacuum Bearing Market Breakdown, By Material

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

11.4 New Development

12. Company Profiles

12.1 HepcoMotion

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 NSK Ltd.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Schaeffler Technologies AG & Co. KG

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 THE TIMKEN COMPANY

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 TPA Motion, LLC

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 GMN Paul Müller Industrie GmbH & Co. KG

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 JTEKT Europe Bearings B.V.

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 UNASIS

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 SKF

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary

LIST OF TABLES.

Table 1.             APAC Vacuum Bearing Market, Revenue and Forecast, 2019–2028 (US$ Million)

Table 2.             APAC Vacuum Bearing Market, Revenue and Forecast To 2028 – By Country (US$ million)

Table 3.             Australia Vacuum Bearing Market, Revenue and Forecast to 2028 – By Type (US$ million)

Table 4.             Australia Vacuum Bearing Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 5.             Australia Vacuum Bearing Market, Revenue and Forecast to 2028 – By Material (US$ million)

Table 6.             China Vacuum Bearing Market, Revenue and Forecast to 2028 – By Type (US$ million)

Table 7.             China Vacuum Bearing Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 8.             China Vacuum Bearing Market, Revenue and Forecast to 2028 – By Material (US$ million)

Table 9.             India Vacuum Bearing Market, Revenue and Forecast to 2028 – By Type (US$ million)

Table 10.          India Vacuum Bearing Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 11.          India Vacuum Bearing Market, Revenue and Forecast to 2028 – By Material (US$ million)

Table 12.          Japan Vacuum Bearing Market, Revenue and Forecast to 2028 – By Type (US$ million)

Table 13.          Japan Vacuum Bearing Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 14.          Japan Vacuum Bearing Market, Revenue and Forecast to 2028 – By Material (US$ million)

Table 15.          South Korea Vacuum Bearing Market, Revenue and Forecast to 2028 – By Type (US$ million)

Table 16.          South Korea Vacuum Bearing Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 17.          South Korea Vacuum Bearing Market, Revenue and Forecast to 2028 – By Material (US$ million)

Table 18.          Rest of APAC Vacuum Bearing Market, Revenue and Forecast to 2028 – By Type (US$ million)

Table 19.          Rest of APAC Vacuum Bearing Market, Revenue and Forecast to 2028 – By Application (US$ million)

Table 20.          Rest of APAC Vacuum Bearing Market, Revenue and Forecast to 2028 – By Material (US$ million)

Table 21.          Glossary of Terms, Vacuum Bearing Market

LIST OF FIGURES.

Figure 1.           APAC Vacuum Bearing Market Segmentation

Figure 2.           APAC Vacuum Bearing Market Segmentation – by Country

Figure 3.           APAC Vacuum Bearing Market Overview

Figure 4.           APAC Vacuum Bearing Market, By Type

Figure 5.           APAC Vacuum Bearing Market, By Application

Figure 6.           APAC Vacuum Bearing Market, By Material

Figure 7.           APAC Vacuum Bearing Market, By Country

Figure 8.           APAC: PEST Analysis

Figure 9.           APAC Vacuum Bearing Market Ecosystem Analysis

Figure 10.        APAC Expert Opinion

Figure 11.        APAC Vacuum Bearing Market: Impact Analysis of Drivers and Restraints

Figure 12.        APAC Vacuum Bearing Market, Forecast and Analysis (US$ Million)

Figure 13.        APAC Vacuum Bearing Market, by Type (2021 and 2028)

Figure 14.        APAC Cylindrical Roller Bearings: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 15.        APAC Tapered Roller Bearings: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 16.        APAC Spherical Roller Bearings: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 17.        APAC Thrust Roller Bearings: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 18.        APAC Needle Roller Bearings: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 19.        APAC Vacuum Bearing Market, by Application (2021 and 2028)

Figure 20.        APAC Automotive: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 21.        APAC Manufacturing & Construction: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 22.        APAC Energy & Power: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 23.        APAC Mining: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 24.        APAC Aerospace & Defense: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 25.        APAC Others: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 26.        APAC Vacuum Bearing Market, by Material (2021 and 2028)

Figure 27.        APAC Silicon: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 28.        APAC Stainless Steel: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 29.        APAC Hybrid: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 30.        APAC Others: Vacuum Bearing Market Revenue and Forecast to 2028 (US$ Million)

Figure 31.        APAC Vacuum Bearing Market, by Country – Revenue (2021) (US$ Million)

Figure 32.        APAC Vacuum Bearing Market Breakdown, by Country, 2021 & 2028 (%)

Figure 33.        Australia Vacuum Bearing Market, Revenue and Forecast To 2028 (US$ million)

Figure 34.        China Vacuum Bearing Market, Revenue and Forecast To 2028 (US$ million)

Figure 35.        India Vacuum Bearing Market, Revenue and Forecast To 2028 (US$ million)

Figure 36.        Japan Vacuum Bearing Market, Revenue and Forecast To 2028 (US$ million)

Figure 37.        South Korea Vacuum Bearing Market, Revenue and Forecast To 2028 (US$ million)

Figure 38.        Rest of APAC Vacuum Bearing Market, Revenue and Forecast To 2028 (US$ million)

The List of Companies - Asia Pacific Vacuum Bearings Market

● HepcoMotion

● NSK Ltd

● Schaeffler Technologies AG & Co. KG

● THE TIMKEN COMPANY

● TPA Motion, LLC

● GMN Paul Muller Industrie GmbH & Co. KG

● JTEKT Europe Bearings B.V

● UNASIS

● SKF

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC vacuum bearings market.

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the APAC vacuum bearings market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the APAC vacuum bearings market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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