The railway industry emphasizes on reducing costs and 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. Severe operating conditions increase engine maintenance and downtime. 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 the utilization of bearing 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. Bearings used in rolling mills possess the ability to support flaking mechanisms, high load capacity, and enhanced shelf life of rolling mills.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America vacuum bearings market. The South America vacuum bearings market is expected to grow at a good CAGR during the forecast period.
South America Vacuum Bearings Market Segmentation
The South America vacuum bearings market is segmented based on product type, application, material, and country. Based on product type, the South America 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 segment dominated the South America vacuum bearings market in 2022. Based on application, the South America vacuum bearings market is categorized into automotive, manufacturing & construction, energy & power, mining, aerospace & defense, and others. The energy & power segment dominated the South America vacuum bearings market in 2022. Based on material, the South America vacuum bearings market is categorized into silicon, stainless steel, hybrid, and others. The stainless-steel segment dominated the South America vacuum bearings market in 2022. Based on country, the South America vacuum bearings market is segmented into Brazil, Argentina, and the Rest of South America. Brazil would dominate the South America vacuum bearings market in 2022.
Key players operating in the SAM vacuum bearings market include 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 by Altair.