At 7.7% CAGR, the Europe Vacuum Bearings Market is projected to be worth US$ 4,195.50 million by 2028, says Business Market Insights           

According to Business Market Insights’ research, the Europe vacuum bearings market was valued at US$ 2,578.85 million in 2022 and is expected to reach US$ 4,195.50 million by 2028, registering an annual growth rate of 7.7% from 2022 to 2028. Increasing growth of Europe space sector and advantages of vacuum bearings.               

The railway industry emphasizes reducing costs and enhancing more on increasing the life of rails. Bearings are used in railway gearboxes to dampen the shocks and vibrations that are caused due to force generated by the traction motor and wheels running on tracks. Thus, severe operating conditions increase engine maintenance and downtime. Several developments in bearings have fueled the growth of bearing in the railway sector. For example, tapered roller bearings support pinion shafts that require regular adjustments and expert maintenance to reduce maintenance costs. In addition, increasing public awareness and the growing need for EVs have increased bearing utilization in EVs. Bearings are developed to overcome lean lubrication conditions. A smaller bearing size has improved the gearbox's overall efficiency, increasing the driving range of EVs. Rolling bearings are widely used in rolling mills designed to sustain tough working conditions. Thus, bearings used in rolling mills possess an ability to support flaking mechanisms, high load capacity, and enhanced shelf life of rolling mills. This is expected to drive the market during the forecast period.

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

Based on product type, the Europe 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 31.2% market share in 2022, amassing US$ 805.09 million. It is projected to garner US$ 1,462.18 million by 2028 to expand at 10.5% CAGR during 2022–2028.    

Based on application, the Europe vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The automotive segment held 26.3% market share in 2022, amassing US$ 677.31 million. It is projected to garner US$ 1,296.01 million by 2028 to expand at 11.4% CAGR during 2022–2028.

Based on material, the Europe vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment held 47.0% market share in 2022, amassing US$ 1,213.26 million. It is projected to garner US$ 1,967.13 million by 2028 to expand at 8.4% CAGR during 2022–2028.

Based on country, the Europe vacuum bearings market has been categorized into the Germany, France, Italy, UK, Russia, and Rest Europe.  Our regional analysis states that Germany captured 35.0% market share in 2022. It was assessed at US$ 902.60 million in 2022 and is likely to hit US$ 1,567.50 million by 2028, exhibiting a CAGR of 9.6% during the forecast period.            

Key players dominating the Europe 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 Europe Bearings B.V; UNASIS; and SKF, among others.

• In April 2022, Koyo Bearings will officially continue as JTEKT Bearings.
• In Dec 2021, SKF has released a new generation of spherical roller bearings.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com