Report : Asia Pacific Low Temperature Bearing Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Cryogenic Bearings, Plain Bearings, Rolling Element Bearing, Jewel Bearing, and Others), Material (Stainless Steel, Ceramic, Bearing Steel, and Others), and Application (Aerospace, Pharmaceutical, Manufacturing, and Others)

At 5.7% CAGR, the Asia Pacific Low Temperature Bearing Market is speculated to be worth US$ 317.00 million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the Asia Pacific low temperature bearing market was valued at US$ 218.91 million in 2021 and is expected to reach US$ 317.00 million by 2028, registering an annual growth rate of 5.7% from 2021 to 2028. Burgeoning use of liquid nitrogen equipment emergence of self-lubricating deep groove ball bearings and emergence of self-lubricating deep groove ball bearings.                

Plain bearings are a viable substitute for rolling component bearings due to their ease of use. They are simpler in design and require little upkeep. They have a more compact structure and higher load-carrying capacity. Another advantage of transporting heavyweights is the wider contact area. This also aids in stress resistance and misalignment tolerance. If properly installed, they can save more space and dampen vibrations more effectively than rolling component bearings. They are more durable and have a longer lifespan, making them an excellent value for money option for designers. Due to their slight advantages in terms of cost and usability, designers in the car industry have begun to replace roller bearings with plain bearings. Plain bearings are gaining popularity in various industries, including aerospace, manufacturing, and other mechanical equipment. All of these factors creating substantial growth opportunity for the low temperature bearings market. Furthermore, plain bearings are utilized in various aerospace applications to improve fuel efficiency, increase maintenance intervals, and reduce carbon emissions. Installation in aircraft wing systems (flaps, spoilers, and slats), flight controls, cockpit controls, auxiliary power units, landing gear, door systems, and aircraft interiors are examples of these uses (seats, bins, latches, and hinge points). For instance, since 2012, GGB's plain bearings have served as the primary suspension modules in NASA's Curiosity Mars rover's robotic drilling arm, working in temperatures ranging from -200°C to +280°C. GGB aerospace bearings are used in various applications, including the arm-drill of NASA's Curiosity Mars Rover, which uses DU metal-polymer bearings. To ensure that the rover could operate efficiently for the duration of its mission, bearings that could withstand the severe temperatures of Mars (between -153°C and 20°C) while also having outstanding wear resistance, were required. Other uses include DU-B metal-polymer bearings in landing gear struts and HSG high-load FRC bearings in aviation ground support scissor lifts. The increasing investment by leading manufacturers in plain bearing production is accelerating the market growth. The investment will enable the Group's largest production location in Italy to produce super-precision bearings for industrial applications. Thus, increasing demand for plain bearings is huge opportunity for the low temperature bearing market.  

On the contrary, exorbitant cost of raw material. 

Based on type, the Asia Pacific low temperature bearing market is segmented into cryogenic, bearings, plain bearings, rolling element bearing, jewel bearing, and others. The rolling element bearing segment held 52.7% market share in 2021, amassing US$ 115.47 million. It is projected to garner US$ 163.12 million by 2028 to expand at 5.3% CAGR during 2021–2028.

Based on application, the Asia Pacific low temperature bearing market is segmented into aerospace, pharmaceutical, manufacturing, and others. The aerospace segment held 48.7% market share in 2021, amassing US$ 106.68 million. It is projected to garner US$ 151.04 million by 2028 to expand at 5.3% CAGR during 2021–2028.

Based on material, the Asia Pacific low temperature bearing market is categorized into stainless steel, ceramic, bearing steel, and others. The bearing steel segment held 42.7% market share in 2021, amassing US$ 93.47 million. It is projected to garner US$ 130.49 million by 2028 to expand at 5.1% CAGR during 2021–2028.

Based on country, the Asia Pacific low temperature bearing market has been segmented into China, Japan, India, South Korea, Australia, and Rest of APAC.  Our regional analysis states that China captured 36.5% market share in 2021. It was assessed at US$ 79.81 million in 2021 and is likely to hit US$ 122.80 million by 2028, exhibiting a CAGR of 6.6% during the forecast period.  

Key players dominating the Asia Pacific low temperature bearing market are SKF; Gebr. Reinfurt GmbH & Co. KG; THE TIMKEN COMPANY; NSK Europe Ltd.; Carter Manufacturing LTD.; Luoyang Monton Bearing Science &Technology Co., ltd.; ZYS Bearing Research Institute Co., Ltd.; and Durofit Technologies Pvt Ltd. among others.

  • In April 2022, Timken has entered into agreement to acquire Spinea, Slovakian manufacturer. Spinea is a gears and factory automation systems manufacturing company.  
  • In April 2022, ZYS have recently done the successful trial proceed of their precision bearing intelligent production line.

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