Europe Bearing Steel Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Carbon Steel, Stainless Steel, and Others) and End Use (Energy and Power, Industrial Machinery, Automotive, Electrical and Electronics, Aerospace, and Others)

BMIRE00028467 | Pages: 117 | Chemicals and Materials | May 2023 | Type: Regional | Status: Published

The Europe bearing steel market is expected to grow from US$ 1,530.82 million in 2022 to US$ 2,054.11 million by 2028. It is estimated to grow at a CAGR of 5.0% from 2022 to 2028.

Growing Demand for Bearings from Automotive Industry Drive Europe Bearing Steel Market

Bearings are a vital component of automotive parts and are commonly used in engines, generators, motors, wheels, gearboxes, transmission shafts, steering shafts, and steering gears, among others. Its load-carrying characteristics and ability to facilitate the transfer of torque improve the overall performance of rotating parts in an automotive system. The performance of bearings can be enhanced by the correct selection of bearing steel, technology, and lubrication while manufacturing, based on their specific applications. Carbon steel and stainless steel, among others, are widely used for the manufacturing of bearings. Moreover, manufacturers are utilizing new raw materials such as lightweight steel alloys to fulfill the demand for lightweight materials from automotive companies. The use of lightweight materials also allows them to keep up with the changing emission norms. According to a report published by the European Automobile Manufacturers’ Association (ACEA), global motor vehicle production rose by 1.3% from 2020 to 2021; a total of 79.1 million motor vehicles, including 61.6 million passenger cars, were produced across the world in 2021. According to a report by Germany Trade & Invest, Germany is a major automotive market in Europe, and the market in this country registered a foreign market revenue of US$ 289.0 billion (a 10% rise from 2020) from passenger car and light commercial vehicle original equipment manufacturers in 2021. Governments of a few other European countries, such as the Netherlands, have introduced incentives to stimulate the sale of electric automobiles. The International Energy Agency (IEA) estimates that 80% of the total cars sold in the world will be hybrid or electric cars by 2050. Therefore, the growing demand for bearings from the automotive industry, coupled with a rise in the sales of electric vehicles, drives the Europe bearing steel market.

Europe Bearing Steel Market Overview

According to the European Construction Industry Federation, in 2020, the European Union (EU) invested US$ 1.4 trillion in the construction industry, and the investment increased by 4.2% in 2021. Germany, France, the UK, Italy, and Spain were the major countries that accounted for more than 70% of the EU’s total investments in the construction of buildings and other structures. As a result, the utilization of bearing steel is increasing in excavators, loaders, dozers, dump trucks, graders, cranes, forklifts, and other bearing applications in the construction sector. Moreover, automotive is one of the major industries in Europe as it contributes significantly to the GDPs of many European countries, including Germany, Italy, and the UK. According to the report by European Commission, turnover generated by the automotive industry in Europe represents 7% of the region’s total GDP. As per a report by the International Energy Agency in 2022, 2.3 million electric vehicles were sold in Europe in 2021, a rise from 1.4 million in 2020. Thus, the surge in investments by governments of various countries in Europe and private companies in infrastructure building & construction projects is anticipated to fuel the Europe bearing steel market growth in Europe during the forecast period.

Europe Bearing Steel Market Revenue and Forecast to 2028 (US$ Million)

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Europe Bearing Steel Market Segmentation 

The Europe bearing steel market is segmented into type, end use, and country.

Based on type, the Europe bearing steel market is segmented into carbon steel, stainless steel, and others. In 2022, the carbon steel segment registered a largest share in the Europe bearing steel market.

Based on end use, the Europe bearing steel market is segmented into energy and power, industrial machinery, automotive, electrical and electronics, aerospace, and others. In 2022, the automotive segment registered a largest share in the Europe bearing steel market.

Based on country, the Europe bearing steel market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, Russia segment registered a largest share in the Europe bearing steel market.

Baosteel Group Corp; Benxi Iron and Steel Group Co Ltd; Dongbei Special Steel Group Co Ltd; EZM Edelstahlzieherei Mark GmbH; Fushun Special Steel Co Ltd; HBIS Group Co Ltd; Kobe Steel Ltd; Ovako AB; Saarstahl AG; and Sanyo Special Steel Co Ltd are the leading companies operating in the Europe bearing steel market.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        Europe Bearing Steel Market – By Type

1.3.2        Europe Bearing Steel Market – By End Use

1.3.3        Europe Bearing Steel Market – By Country

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Europe Bearing Steel Market Landscape

4.1         Market Overview

4.2         Porter's Five Forces Analysis

4.2.1        Threat of New Entrants:

4.2.2        Bargaining Power of Buyers:

4.2.3        Bargaining Power of Suppliers:

4.2.4        Intensity of Competitive Rivalry:

4.2.5        Threat of Substitutes:

4.3         Ecosystem Analysis: Europe Bearing Steel Market

4.3.1        Mining & Refinery:

4.3.2        Bearing Steel Manufacturers:

4.3.3        Bearing Manufacturers:

4.3.4        Distributors/Suppliers:

4.3.5        End Use Industries:

4.4         Expert Opinions

5.           Europe Bearing Steel Market – Key Industry Dynamics

5.1         Market Drivers

5.1.1        Growing Demand for Bearings from Automotive Industry

5.1.2        Development of Durable and Smart Bearings

5.2         Market Restraints

5.2.1        Use of Polymer and Ceramic Ball Bearings as Alternatives

5.3         Market Opportunities

5.3.1        Surge in Demand for High-Efficiency Bearings

5.4         Future Trends

5.4.1        Strategic Developments by Bearing Manufacturers

5.5         Impact Analysis

6.           Bearing Steel – Europe Market Analysis

6.1         Europe Bearing Steel Market Forecast and Analysis

7.           Europe Bearing Steel Market Analysis – By Type

7.1         Overview

7.2         Europe Bearing Steel Market, By Type (2021 and 2028)

7.3         Carbon Steel

7.3.1        Overview

7.3.2        Carbon Steel: Europe Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)

7.3.3        Carbon Steel: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

7.4         Stainless Steel

7.4.1        Overview

7.4.2        Stainless Steel: Europe Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)

7.4.3        Stainless Steel: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

7.5         Others

7.5.1        Overview

7.5.2        Others: Europe Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)

7.5.3        Others: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Mn)

8.           Europe Bearing Steel Market Analysis – End Use

8.1         Overview

8.2         Europe Bearing Steel Market, By End Use (2021 and 2028)

8.3         Energy and Power

8.3.1        Overview

8.3.2        Energy and Power: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Industrial Machinery

8.4.1        Overview

8.4.2        Industrial Machinery: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

8.5         Automotive

8.5.1        Overview

8.5.2        Automotive: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

8.6         Electrical and Electronics

8.6.1        Overview

8.6.2        Electrical and Electronics: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

8.7         Aerospace

8.7.1        Overview

8.7.2        Aerospace: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

8.8         Others

8.8.1        Overview

8.8.2        Others: Europe Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)

9.           Europe Bearing Steel Market – Country Analysis

9.1         Overview

9.1.1        Europe: Bearing Steel Market, by Key Country

9.1.1.1          Germany: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

9.1.1.2          Germany: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1          Germany: Bearing Steel Market, by Type

9.1.1.2.2          Germany: Bearing Steel Market, by Type

9.1.1.2.3          Germany: Bearing Steel Market, by End Use

9.1.1.3          France: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

9.1.1.4          France: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1          France: Bearing Steel Market, by Type

9.1.1.4.2          France: Bearing Steel Market, by Type

9.1.1.4.3          France: Bearing Steel Market, by End Use

9.1.1.5          Italy: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

9.1.1.6          Italy: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1          Italy: Bearing Steel Market, by Type

9.1.1.6.2          Italy: Bearing Steel Market, by Type

9.1.1.6.3          Italy: Bearing Steel Market, by End Use

9.1.1.7          United Kingdom: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

9.1.1.8          United Kingdom: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

9.1.1.8.1          United Kingdom: Bearing Steel Market, by Type

9.1.1.8.2          United Kingdom: Bearing Steel Market, by Type

9.1.1.8.3          United Kingdom: Bearing Steel Market, by End Use

9.1.1.9          Russia: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

9.1.1.10       Russia: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

9.1.1.10.1       Russia: Bearing Steel Market, by Type

9.1.1.10.2       Russia: : Bearing Steel Market, by Type

9.1.1.10.3       Russia: : Bearing Steel Market, by End Use

9.1.1.11       Rest of Europe: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)

9.1.1.12       Rest of Europe: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)

9.1.1.12.1       Rest of Europe: Bearing Steel Market, by Type

9.1.1.12.2       Rest of Europe: Bearing Steel Market, by Type

9.1.1.12.3       Rest of Europe: Bearing Steel Market, by End Use

10.        Company Profiles

10.1      Ovako AB

10.1.1     Key Facts

10.1.2     Business Description

10.1.3     Products and Services

10.1.4     Financial Overview

10.1.5     SWOT Analysis

10.1.6     Key Developments

10.2      Dongbei Special Steel Group Co Ltd

10.2.1     Key Facts

10.2.2     Business Description

10.2.3     Products and Services

10.2.4     Financial Overview

10.2.5     SWOT Analysis

10.2.6     Key Developments

10.3      EZM Edelstahlzieherei Mark GmbH

10.3.1     Key Facts

10.3.2     Business Description

10.3.3     Products and Services

10.3.4     Financial Overview

10.3.5     SWOT Analysis

10.3.6     Key Developments

10.4      Fushun Special Steel Co Ltd

10.4.1     Key Facts

10.4.2     Business Description

10.4.3     Products and Services

10.4.4     Financial Overview

10.4.5     SWOT Analysis

10.4.6     Key Developments

10.5      HBIS Group Co Ltd

10.5.1     Key Facts

10.5.2     Business Description

10.5.3     Products and Services

10.5.4     Financial Overview

10.5.5     SWOT Analysis

10.5.6     Key Developments

10.6      Saarstahl AG

10.6.1     Key Facts

10.6.2     Business Description

10.6.3     Products and Services

10.6.4     Financial Overview

10.6.5     SWOT Analysis

10.6.6     Key Developments

10.7      Baosteel Group Corp

10.7.1     Key Facts

10.7.2     Business Description

10.7.3     Products and Services

10.7.4     Financial Overview

10.7.5     SWOT Analysis

10.7.6     Key Developments

10.8      Benxi Iron and Steel Group Co Ltd

10.8.1     Key Facts

10.8.2     Business Description

10.8.3     Products and Services

10.8.4     Financial Overview

10.8.5     SWOT Analysis

10.8.6     Key Developments

10.9      Sanyo Special Steel Co Ltd

10.9.1     Key Facts

10.9.2     Business Description

10.9.3     Products and Services

10.9.4     Financial Overview

10.9.5     SWOT Analysis

10.9.6     Key Developments

11.        Appendix

11.1      About The Insight Partners

11.2      Glossary of Terms

 

 

LIST OF TABLES

Table 1.             Europe Bearing Steel Market Revenue Forecast to 2028 (US$ Mn)

Table 2.             Germany Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)

Table 3.             Germany Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             Germany Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)

Table 5.             France Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)

Table 6.             France Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             France Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Italy Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)

Table 9.             Italy Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          Italy Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)

Table 11.          United Kingdom Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)

Table 12.          United Kingdom Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 13.          United Kingdom Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)

Table 14.          Russia: Bearing Steel Market, by Type– Volume and Forecast to 2028 (Kilo Tons)

Table 15.          Russia : Bearing Steel Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 16.          Russia : Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)

Table 17.          Rest of Europe Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)

Table 18.          Rest of Europe Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 19.          Rest of Europe Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)

Table 20.          Glossary of Terms, Europe Bearing Steel Market

 

 

LIST OF FIGURES

Figure 1.           Europe Bearing Steel Market Segmentation

Figure 2.           Europe Bearing Steel Market Segmentation – By Country

Figure 3.           Europe Bearing Steel Market Overview

Figure 4.           Carbon Steel segment holds the largest share

Figure 5.           Russia Held Largest Share of Bearing Steel Market in 2021

Figure 6.           Porter's Five Forces Analysis

Figure 7.           Ecosystem: Europe Bearing Steel Market

Figure 8.           Expert Opinion

Figure 9.           Europe Bearing Steel Market Impact Analysis of Drivers and Restraints

Figure 10.        Europe Bearing Steel Market Forecast and Analysis, 2020–2028 (US$ Mn)

Figure 11.        Europe Bearing Steel Market Revenue Share, By Type (2021 and 2028)

Figure 12.        Carbon Steel: Europe Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)

Figure 13.        Carbon Steel: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 14.        Stainless Steel: Europe Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)

Figure 15.        Stainless Steel: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 16.        Others: Europe Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)

Figure 17.        Others: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Mn)

Figure 18.        Europe Bearing Steel Market Revenue Share, By End Use (2021 and 2028)

Figure 19.        Energy and Power: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 20.        Industrial Machinery: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 21.        Industrial End Uses: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 22.        Electrical and Electronics: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 23.        Aerospace: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 24.        Others: Europe Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)

Figure 25.        Europe: Bearing Steel Market, by Key Country - Revenue (2021) (US$ Million)

Figure 26.        Europe: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)

Figure 27.        Germany: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

Figure 28.        Germany: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

Figure 29.        France: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

Figure 30.        France: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

Figure 31.        Italy: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

Figure 32.        Italy: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

Figure 33.        United Kingdom: Bearing Steel Market–Volume and Forecast to 2028 (Kilo Tons)

Figure 34.        United Kingdom: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

Figure 35.        Russia: Bearing Steel Market– Volume and Forecast to 2028 (Kilo Tons)

Figure 36.        Russia: Bearing Steel Market–Revenue and Forecast to 2028 (US$ Million)

Figure 37.        Rest of Europe: Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)

Figure 38.        Rest of Europe: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)

 

  1. Baosteel Group Corp  
  2. Benxi Iron and Steel Group Co Ltd
  3. Dongbei Special Steel Group Co Ltd
  4. EZM Edelstahlzieherei Mark GmbH
  5. Fushun Special Steel Co Ltd
  6. HBIS Group Co Ltd
  7. Kobe Steel Ltd
  8. Ovako AB  
  9. Saarstahl AG
  10. Sanyo Special Steel Co Ltd
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe bearing steel market.   
  • Highlights key business priorities in order to assist companies to realign their business strategies
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  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the bearing steel market, as well as those hindering it
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