/ Report Details / Global Trunnion Spherical Bearing Market: By Type (Split spherical and non-split bearings)
Global Trunnion Spherical Bearing Market: By Type (Split spherical and non-split bearings), By Application (Aerospace, oil & gas, manufacturing, automotive, and energy sector), By regions (North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa)
REPORT HIGHLIGHT
The global trunnion spherical bearings market was valued at USD 37.45 billion in 2019. The market is expected to grow at a CAGR of 4.7 % during 2020-27 to reach US$ 54.14 billion by 2027.
A trunnion spherical bearing is a specific form of bearing utilized when the shaft is loaded axially while rotating. Trunnion spherical bearings also allow for some rotational shaft misalignment, which minimizes vibration in the machine even more. Because of these advantages, trunnion spherical bearings are used in the aviation sector, industrial industry, oil and gas business, and other industries.
MARKET DYNAMICS
The worldwide trunnion spherical bearings market is growing due to the rising demand for bearings in the aviation industry. Because rotors must work under rotational motion and axial wind force, trunnion spherical bearings are utilized in the aviation sector. In rising economies like India, China, and Brazil, the aviation sector is quickly expanding. In January 2020, India's international and domestic passenger traffic was 293.99 billion dollars, with domestic passenger traffic being 235.44 billion dollars. In addition, India has seen a rise in global direct investment (FDI). For example, the Department for Promotion of Industry and Internal Trade (DPIIT) estimates that India's aviation industry will receive the U.S. $ 4.99 billion in investment over the next four years, with most of the money going toward aircraft manufacturing under the "Made in India" program. Massive expenditures in the aviation industry are projected to boost demand for this type of bearings, propelling the worldwide trunnion spherical bearings market forward throughout the forecast period.
Players may expect significant development possibilities as humanoid robots become more widely adopted. A humanoid robot is made up of electric and mechanical components, as well as computer technologies. Bearing is utilized in joints such as robotic hands, legs, and other mechanical parts. During the early adoption phase, the humanoid robot industry is a limited opportunity, but it is expected to be a promising sector later. Companies in the worldwide bearing market could expect attractive development prospects as humanoid robots become more common. They are also used in windmills. Increasing adoption of renewable energy sources and a large installation of windmills across the regions are favorable factors for the trunnion-bearing market.
Various sectors, including aviation, oil & gas, and others, are increasing their usage of trunnion spherical bearings. Certain application characteristics of trunnion spherical bearings might hamper the global trunnion spherical bearings market's growth. Because it must work under two forms of stress, rotational and axial, trunnion spherical bearings have a short life period. As the axial load increases, the bearing experiences heat extraction and contraction, necessitating close monitoring. All of these factors lead to the bearings' short life cycle and high maintenance costs. As a result, the market growth is projected to be hampered by the limited life duration of trunnion spherical bearings.
MARKET SEGMENTATION
Trunnion spherical bearing market can be bifurcated based on the type and industrial application.
TYPE TAKEAWAY
Split spherical and non-split are two major types of trunnions available in the market. For high load conditions and most axial loading conditions, split spherical bearings are used due to their high tensile strength loading capacity and rigidity. The non-split type is used for high rotary loads due to its high flexibility. Due to high demand in the aerospace market, spit spherical bearing occupies a major share. The automotive industry also splits spherical type into its axial loading components such as transmission axles and gearbox components.
APPLICATION TAKEAWAY
Aerospace, oil & gas, manufacturing, automotive, and energy sectors are major applications. Aerospace is the largest segment for bearing manufacturing companies. The increasing adoption of air traveling in developed and developing countries is increasing the demand for new aircraft. This can boost bearing demand during the forecast period. The energy sector is also lucrative as demand for renewable energy such as wind energy is increasing, which needs spherical bearing in windmill manufacturing. The oil & gas industry is on an expansion spree with new site explorations and complex drilling conditions. It can create additional demand for spherical bearings in drilling machinery. Increasing the automobile market for conventional and electric, and hybrid vehicles is a good opportunity for bearing makers as it is used in automobile axles.
REGIONAL TAKEAWAYS
In terms of value, Asia Pacific dominated the worldwide bearing market in 2019, with a 37.4% share, followed by North America, Europe, Latin America, and the Middle East, and Africa. Developing countries in APAC such as China, India, and Japan are major aerospace and automobile industries markets. With increasing economic prosperity, the population's purchasing power rises, increasing demand for automobiles and air travel. Trunnion bearings find their application in these industries. Thus, industrial expansion opportunities in this region are big. European and North American markets are already big for existing industrial demand. New sectors such as wind energy and robotics are creating future opportunities for bearing makers. The presence of major manufacturers in North America and Europe is also improving the scope of new product development and fulfilling supply for the future demand across the industries.
COVID-19 IMPACT
COIVD-19 pandemic spread in the early period of 2020. Due to its virulent nature and widespread, many nations put stringent traveling measures in place. These containment measures affected industrial operations and other economic activities adversely. Manufacturing supply chains were broken due to international border closure for many of the countries. On the other hand, labor shortage in developing countries was a major issue for production disruptions and an increase in the cost of final products. The airline industry, the biggest market for trunnion bearings, has observed the worst turbulence due to pandemic-driven demand disruption. Many airlines had put fleet expansion plans on hold due to high losses during the pandemic's peak. Due to stagnant demand, maintenance activities are also reduced compared to the pre-pandemic level. Due to these situations, the global trunnion spherical bearing market also faced reduced demand. It is expected that the market will recover for the later part of the forecast period due to the post-pandemic economic boom in several parts of the world.
KEY PLAYERS
Some of the leading players in the global market are SKF, Rockwell Automation, GMB Corporation, Safran S.A., NTN Corporation, Schaeffler Technologies NSK Ltd., Pratt & Whitney, Thomson Industries, ILJIN Co. Ltd., AST Bearings LLC, Avio S.p.A., Timken Company, IHI Corporation, and KHI.
To get a competitive advantage in the industry, key market players are focusing on business growth. For example, Schaeffler Technologies AG & Co. K.G. opened a new bearing manufacturing facility, the first facility in the region of South Asia, in Vietnam in April 2020. New lucrative opportunities are also attracting new players to venture into the trunnion-bearing industry. AESSEAL, a worldwide mechanical seals manufacturer, spent US$ 16 billion in bearing production in the United States in January 2020. To increase product life and reduce maintenance costs, companies are experimenting with advanced materials. The growing usage of fiber composite and thermoplastic bearings might create attractive development possibilities for major companies.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2019
- Base Year – 2020
- Projected Year – 2021 to 2027
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL TRUNNION SPHERICAL BEARING MARKET KEY PLAYERS
- SKF
- Rockwell Automation
- GMB Corporation
- Schaeffler Technologies
- Safran S.A.
- NTN Corporation
- NSK Ltd.
- Pratt & Whitney
- Thomson Industries
- Timken Company
- ILJIN Co. Ltd.
- AST Bearings LLC
- Avio S.p. A.
- IHI Corporation
- KHI
GLOBAL TRUNNION SPHERICAL BEARING MARKET, BY TYPE
- Split-spherical
- Non-split bearing
GLOBAL TRUNNION SPHERICAL BEARING MARKET, BY APPLICATION
- Aerospace
- Oil & gas
- Manufacturing
- Automotive
- Energy
GLOBAL TRUNNION SPHERICAL BEARING MARKET, BY REGIONS
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. TRUNNION SPHERICAL BEARING MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Types
2.1.2. Market Snippet by Applications
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. TRUNNION SPHERICAL BEARING KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. TRUNNION SPHERICAL BEARING APPLICATION STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. TRUNNION SPHERICAL BEARING MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. TRUNNION SPHERICAL BEARING MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. TRUNNION SPHERICAL BEARING MARKET – BY TYPES
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2020 & 2027 (%)
7.2. Split-spherical bearing
7.2.1. Overview
Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Non-split Spherical
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion
8. TRUNNION SPHERICAL BEARING MARKET – BY APPLICATIONS
8.1. Overview
8.1.1. Segment Share Analysis, By Applications, 2020 & 2027 (%)
8.2. Aerospace
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Oil & Gas
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.4. Manufacturing
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.5. Automotive
8.5.1. Overview
8.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.6. Energy
8.6.1. Overview
8.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. TRUNNION SPHERICAL BEARING MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. U.K. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.8.4. U.K. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Applications, 2016 - 2027 (US billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.5.9. Rest of LATAM
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Applications, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. U.A.E. Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.7.4. U.A.E. Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Types, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Applications, 2016 - 2027 (US Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. SKF
10.2.1.1. Company Overview
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. Rockwell Automation
10.2.3. GMB Corporation
10.2.4. Schaeffler Technologies
10.2.5. Safran S.A.
10.2.6. NTN Corporation
10.2.7. NSK Ltd.
10.2.8. Pratt & Whitney
10.2.9. Thomson Industries
10.2.10. Timken Company
10.2.11. ILJIN Co. Ltd.
10.2.12. AST Bearings LLC
10.2.13. Avio S.p.A.
10.2.14. IHI Corporation
10.2.15. KHI
11. 360 DEGREE VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
