At 5.7% CAGR, the Middle East & Africa Super Precision Bearing Market is projected to be worth US$ 668.85 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa super precision bearing market was valued at US$ 479.04 million in 2022 and is expected to reach US$ 668.85 million by 2028, registering a CAGR of 5.7% from 2022 to 2028. Increasing demand from aerospace industry are the critical factors attributed to the Middle East & Africa 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. In addition, according to Aerospace Manufacturing news published in December 2022, the global aircraft order was recorded to be 299 in October 2022. Approximately 95 aircraft were delivered in October 2022, which registered a growth of 51% compared to the figure in October 2021. 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 Middle East & Africa super precision bearing market.  

Based on type, the Middle East & Africa super precision bearing market is segmented into angular contact ball bearings, cylindrical roller bearings, and others. The angular contact ball bearings segment held 60.1% share of Middle East & Africa super precision bearing market in 2022, amassing US$ 287.88 million. It is projected to garner US$ 406.49 million by 2028 to expand at 5.9% CAGR during 2022–2028. 

Based on application, the Middle East & Africa 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 30.8% share of Middle East & Africa super precision bearing market in 2022, amassing US$ 147.54 million. It is projected to garner US$ 202.53 million by 2028 to expand at 5.4% CAGR during 2022–2028.

Based on country, the Middle East & Africa super precision bearing market has been categorized into South Africa and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 65.8% share of Middle East & Africa super precision bearing market in 2022. It was assessed at US$ 315.03 million in 2022 and is likely to hit US$ 445.30 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.      

Key players dominating the Middle East & Africa super precision bearing market are TEKT 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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