North America Low Temperature Bearing Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Cryogenic Bearings, Plain Bearings, Rolling Element Bearing, Jewel Bearing, and Others), Material (Stainless Steel, Ceramic, Bearing Steel, and Others), and Application (Aerospace, Pharmaceutical, Manufacturing, and Others)
The low temperature bearing market in North America is expected to grow from US$ 152.52 million in 2021 to US$ 206.34 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.
Pumps for receiving and discharging LNG to road tanks are LNG pumps. The bearing operating conditions of these pumps can be extremely harsh, as the temperature can reach -162°C, and the bearing must operate without external lubrication. For instance, MONTON designed new LNG Pump Bearings to meet these stringent performance standards. For the LNG market, 2020 was a watershed moment. The LNG market was already on the verge of oversupply in 2020 and 2021, even before the COVID-19 outbreak, as new projects continued to expand capacity well beyond consistent demand growth. Due to the pandemic, reduced gas consumption has added to excess supply, causing market instability. According to a poll conducted by the Gas Exporting Countries Forum, LNG bunker fuel is predicted to account for 13% of the entire bunker fuel market by 2030, up from 3–5% now. These changes in the LNG market's value chain necessitate the employment of cryogenic systems for LNG storage, handling, and transportation, generating the demand for low temperature bearings. Thus, the increasing demand for low-temperature bearings across the entire LNG value chain is bolstering the low temperature bearings market.
By introducing new features and technologies, vendors in the North America low temperature bearing market can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the market at a substantial CAGR during the forecast period.
North America Low Temperature Bearing Market Revenue and Forecast to 2028 (US$ Million)
North America Low Temperature Bearing Market Segmentation
The North America low temperature bearing market is segmented on the basis of type, application, material, and country. Based on type, the market is segmented into cryogenic bearings, plain bearings, rolling element bearing, jewel bearing, and others. In 2021, the rolling element bearing segment held the largest share of the market. However, the cryogenic bearings segment is expected to register the highest CAGR during the forecast period. Based on application, the North America low temperature bearing market is segmented into aerospace, pharmaceuatical, manufacturing, and others. The aerospace segment held the largest market share in 2021, whereas the manufacturing segment is expected to register the highest CAGR in the market during the forecast period. Based on material, the market is segmented into stainless steel, ceramic, bearing steel, and others. In 2021, the bearing steel segment held the largest market share. However, the stainless steel segment is expected to register the highest CAGR during the forecast period. Based on country, the North America low temperature bearing market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest market share. The market in the country is also expected to grow at the highest CAGR during the forecast period.
SKF, Gebr. Reinfurt GmbH & Co. KG, THE TIMKEN COMPANY, NSK Europe Ltd., Carter Manufacturing LTD., RBC Bearings Incorporated, and Durofit Technologies Pvt Ltd. are among the leading companies in the North America low temperature bearing market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Low temperature bearings Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Low Temperature Bearings Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Demand for Low Temperature Bearings Across Entire LNG (Liquified Natural Gas) Value Chain
5.1.2 Elevating Use of Lliquid Nitrogen Equipment
5.2 Market Restraints
5.2.1 Higher Cost of Raw Material
5.3 Market Opportunities
5.3.1 Burgeoning Demand for Plain Bearings
5.4 Future Trends
5.4.1 Occurrence of Self-Lubricating Deep Groove Ball Bearings
5.5 Impact Analysis of Drivers and Restraints
6. North America Low Temperature Bearings Market Analysis
6.1 North America Low temperature bearings Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Low Temperature Bearings Market Analysis – By Type
7.1 Overview
7.2 North America Low Temperature Bearings, By Type
7.3 Cryogenic Bearings
7.3.1 Overview
7.3.2 Cryogenic Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Plain Bearings
7.4.1 Overview
7.4.2 Plain Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Rolling Element Bearings
7.5.1 Overview
7.5.2 Rolling Element Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Jewel Bearings
7.6.1 Overview
7.6.2 Jewel Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Low Temperature Bearings Market – By Application
8.1 Overview
8.2 North America Low Temperature Bearings Market, By Application
8.3 Aerospace
8.3.1 Overview
8.3.2 Aerospace: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Pharmaceutical
8.4.1 Overview
8.4.2 Pharmaceutical: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Manufacturing
8.5.1 Overview
8.5.2 Manufacturing: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Low Temperature Bearings Market – By Material
9.1 Overview
9.2 North America Low Temperature Bearings Market, By Material
9.3 Stainless Steel
9.3.1 Overview
9.3.2 Stainless Steel: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Ceramic
9.4.1 Overview
9.4.2 Ceramic: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Bearing Steel
9.5.1 Overview
9.5.2 Bearing Steel: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Low temperature bearings Market – Country Analysis
10.1 Overview
10.1.1 North America: Low Temperature Bearings, by Key Country
10.1.1.1 US: Low Temperature Bearings – Revenue, and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Low Temperature Bearings, By Type
10.1.1.1.2 US: Low Temperature Bearings Market, By Application
10.1.1.1.3 US: Low Temperature Bearings Market, By Material
10.1.1.2 Canada: Low Temperature Bearings – Revenue, and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Low Temperature Bearings, By Type
10.1.1.2.2 Canada: Low Temperature Bearings Market, By Application
10.1.1.2.3 Canada: Low Temperature Bearings Market, By Material
10.1.1.3 Mexico: Low Temperature Bearings – Revenue, and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Low Temperature Bearings, By Type
10.1.1.3.2 Mexico: Low Temperature Bearings Market, By Application
10.1.1.3.3 Mexico: Low Temperature Bearings Market, By Material
11. North America Low Temperature Bearings Market- Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 SKF
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Gebr. Reinfurt GmbH & Co. KG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 THE TIMKEN COMPANY
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 NSK Europe Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Carter Manufacturing LTD.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 RBC Bearings Incorporated
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Low temperature bearings Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Low Temperature Bearings, By Key Country –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Low Temperature Bearings, By Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Low Temperature Bearings Market, By Application –Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Low Temperature Bearings Market, By Material –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Low Temperature Bearings, By Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Low Temperature Bearings Market, By Application –Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Low Temperature Bearings Market, By Material –Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Low Temperature Bearings, By Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Low Temperature Bearings Market, By Application –Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Low Temperature Bearings Market, By Material –Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Low Temperature Bearings Market Segmentation
Figure 2. North America Low Temperature Bearings Market Segmentation – by Country
Figure 3. North America Low Temperature Bearings Market Overview
Figure 4. North America Low Temperature Bearings Market, by Type
Figure 5. North America Low Temperature Bearings Market, by Country
Figure 6. North America: PEST Analysis
Figure 7. Expert Opinion
Figure 8. North America Low temperature bearings Market: Impact Analysis of Drivers and Restraints
Figure 9. North America Low temperature bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. North America Low Temperature Bearings Revenue Share, By Type (2020 and 2028)
Figure 11. Cryogenic Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Plain Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Rolling Element Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Jewel Bearings: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Others: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Low Temperature Bearings Revenue Share, By Application (2020 and 2028)
Figure 17. Aerospace: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Pharmaceutical: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Manufacturing: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Low Temperature Bearings Revenue Share, By Material (2020 and 2028)
Figure 22. Stainless Steel: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Ceramic: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Bearing Steel: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others: Low Temperature Bearings Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Geographic Overview of North America Low Temperature Bearings Market
Figure 27. North America: Low Temperature Bearings Revenue Share, by Key Country (2020 and 2028)
Figure 28. US: Low Temperature Bearings – Revenue, and Forecast to 2028 (US$ Million)
Figure 29. Canada: Low Temperature Bearings – Revenue, and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Low Temperature Bearings – Revenue, and Forecast to 2028 (US$ Million)
- SKF
- Gebr. Reinfurt GmbH & Co. KG
- THE TIMKEN COMPANY
- NSK Europe Ltd.
- Carter Manufacturing LTD.
- RBC Bearings Incorporated
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America low temperature bearing market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America low temperature bearing market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the low temperature bearing market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution