Report : South America Vacuum Bearings Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Cylindrical Roller Bearings, Tapered Roller Bearings, Spherical Roller Bearings, Thrust Roller Bearings, and Needle Roller Bearings), Application (Automotive, Manufacturing & Construction, Energy & Power, Mining, Aerospace & Defense, and Others), and Material (Silicon, Stainless Steel, Hybrid, and Others)
At 6.1% CAGR, the South America Vacuum Bearings Market is speculated to be worth US$ 577.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM vacuum bearings market was valued at US$ 404.48 million in 2022 and is expected to reach US$ 577.00 million by 2028, registering an annual growth rate of 6.1% from 2022 to 2028. Rising growth of SAM space sector and benefits of vacuum bearings.
Raw material accounts for ~60% of a vacuum bearing manufacturer's revenue. As high-grade steel is the major raw material used for manufacturing vacuum bearings, the costs of bearings are greatly correlated with the SAM steel price movement. The variation in raw material price challenges the vacuum bearing manufacturers to deliver reasonably priced and high-quality bearings. Further, the raw material price of the automotive vacuum bearing fluctuates as per the market economic condition. Such price volatility of raw materials is becoming an actual challenge for enterprises to remain competitive. Therefore, fluctuation of raw material price creates challenges for the vacuum bearing manufacturers to manufacture a bearing for a vehicle in terms of quality and price. Additionally, fluctuating supply and demand scenario is hindering the growth of the vacuum bearing industry. The difference in trade strategies, variations in foreign exchange rates, discrepancies in supply and demand, and intensified geopolitical risks across various countries potentially impact the pricing of steel and aluminum bearing materials. Besides, the vacuum bearing components comprise seals and cages that require lubrication at frequent intervals to ensure smooth functioning, thus requiring additional expenses. This is expected to drive the market during the forecast period.
On the contrary, fluctuating raw material prices and high maintenance cost hurdles the growth of SAM vacuum bearings market.
Based on product type, the SAM 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 34.0% market share in 2022, amassing US$ 137.35 million. It is projected to garner US$ 166.93 million by 2028 to expand at 3.3% CAGR during 2022–2028.
Based on application, the SAM vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy & power segment held 27.6% market share in 2022, amassing US$ 111.44 million. It is projected to garner US$ 169.41 million by 2028 to expand at 7.2% CAGR during 2022–2028.
Based on material, the SAM vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment held 56.4% market share in 2022, amassing US$ 228.21 million. It is projected to garner US$ 285.76 million by 2028 to expand at 3.8% CAGR during 2022–2028.
Based on country, the SAM vacuum bearings market has been categorized into the Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 44.9% market share in 2022. It was assessed at US$ 181.59 million in 2022 and is likely to hit US$ 257.00 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players dominating the SAM vacuum bearings market are HepcoMotion; NSK Ltd; Schaeffler Technologies AG & Co. KG; THE TIMKEN COMPANY; GMN Paul Muller Industrie GmbH & Co. KG; JTEKT Europe Bearings B.V; UNASIS; and SKF, among others.
- In Jan 2022, Schaeffler and technology company PTC establish a strategic partnership.
- In April 2022, Timken to Acquire Spinea, Increasing Robotics and Automation Offerings in Attractive and Growing End Markets.
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