Report : Asia Pacific Super Precision Bearing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type ( Angular Contact Ball Bearings, Cylindrical Roller Bearings, and Others ) and Application ( Spindles, High Speed Rolling Mills, Printing Machinery, Precision Ball Screw, Live Centers, High Speed Turbochargers, Vacuum Pumps, Automotive, Boat Gyrostabilizers, Semiconductor Industry, Textile Machinery, Medical & Dental, Measuring Machines, and Aviation & Defense)

At 7.8% CAGR, the Asia Pacific Super Precision Bearing Market is speculated to be worth US$ 5,439.70 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific super precision bearing market was valued at US$ 3,475.61 million in 2022 and is expected to reach US$ 5,439.70 million by 2028, registering a CAGR of 7.8% from 2022 to 2028. Increasing demand from aerospace industry are the critical factors attributed to the Asia Pacific super precision bearing market expansion.

In aerospace applications, super precision bearings are used in engines, gearboxes, pneumatic and electric starters, and various auxiliary aircraft positions to improve operational efficiency. These bearings are useful in ensuring reliable aircraft operation with minimum power loss, which is increasing their demand in the aerospace industry. In addition, super precision bearing manufacturers are increasingly focusing on implementing innovative initiatives to increase aircraft reliability. For instance, in July 2022, Barden Bearings improved the design of super precision bearings for aircraft starter generators. The improved design led to better oil flow to the bearing; it also strengthened the bearing cage structure and introduced a method to detect cage debris. Thus, such initiatives by the manufacturers to increase the efficiency of the aircraft are boosting the demand for super precision bearings in the aerospace industry. In addition, many countries across the region are engaged in boosting their aviation industry by introducing manufacturing facilities for aircraft. For instance, in October 2022, the Prime Minister of India laid the C-295 aircraft manufacturing facility’s foundation in Vadodara and became a leading manufacturer and exporter of transport aircraft worldwide. This manufacturing facility was launched to cater to the increasing demand for passenger and cargo aircraft in the country, as the requirement for aircraft is expected to reach ~2,000 by 2050. Aircraft production requires super precision bearings in its engines, gearbox, and starter generators. Thus, the rising number of initiatives to boost aircraft production is contributing to the demand for super precision bearings for new aircraft production. Thus, the rising aircraft deliveries are boosting the aerospace industry, which is driving the demand for super precision bearings in the industry.

On the contrary, growing fluctuations in prices of raw materials hampers the Asia Pacific super precision bearing market.  

Based on type, the Asia Pacific super precision bearing market is segmented into angular contact ball bearings, cylindrical roller bearings, and others. The angular contact ball bearings segment held 59.1% share of Asia Pacific super precision bearing market in 2022, amassing US$ 2,052.76 million. It is projected to garner US$ 3,244.42 million by 2028 to expand at 7.9% CAGR during 2022–2028. 

Based on application, the Asia Pacific super precision bearing market is segmented into spindles, high speed rolling mills, printing machinery, precision ball screw, live centers, high speed turbochargers, vacuum pumps, automotive, boat gyrostabilizers, semiconductor industry, textile machinery, medical & dental, measuring machines, and aviation & defense. The spindles segment held 31.2% share of Asia Pacific super precision bearing market in 2022, amassing US$  1,084.64 million. It is projected to garner US$ 1,658.34 million by 2028 to expand at 7.3% CAGR during 2022–2028.

Based on country, the Asia Pacific super precision bearing market has been categorized into China, Japan, India, South Korea, Taiwan, Australia, the Rest of Asia Pacific. Our regional analysis states that China captured 34.1% share of Asia Pacific super precision bearing market in 2022. It was assessed at US$ 1,184.83 million in 2022 and is likely to hit US$ 1,950.50 million by 2028, exhibiting a CAGR of 8.7% during the forecast period.

Key players dominating the Asia Pacific super precision bearing market are Austin Engineering Co Ltd; JTEKT Corp; Luoyang Huigong Bearing Technology Co Ltd; Nachi-Fujikoshi Corp; NSK Ltd; Schaeffler AG; SKF AB; and The Timken Co, among others.   

  • 2022, NSK and Cyfuse Biomedical have agreed to collaborate in developing new technologies for regenerative medicine and cellular therapy products.

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