South & Central America 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)
The South & Central America bearing steel market is expected to grow from US$ 448.61 million in 2022 to US$ 514.68 million by 2028. It is estimated to grow at a CAGR of 2.3% from 2022 to 2028.
Strategic Developments by Bearing Manufacturers Drive South & Central America Bearing Steel Market
The growing demand for efficient and reliable bearings from industries such as automotive, construction, and industrial machinery businesses is prompting bearings and bearing steel manufacturers to develop new products, expand their market presence, and enhance their clientele. In 2022, Schaeffler Technologies AG & Co. KG developed hydrodynamic bearings for wind turbine gearboxes; these products benefit through increased power density, high operating time, and small installation area requirements. Further, the increased competition among bearing manufacturers compels them to raise investments in the use of advanced raw materials to bring novel products to market. In 2020, NTN Corporation expanded the production and delivery capacities of deep groove ball bearings designed for electric vehicles and hybrid electric vehicles. Moreover, in 2021, JTEKT Corporation developed sealed ball bearings with high muddy water resistance, which makes them ideal for agricultural machinery. In 2021, AB SKF launched a spherical roller bearing, developed to lower production costs, reduce the environmental impact of continuous slab casting operation, and increase uptime. Thus, these key developments by bearing manufacturers are expected to bolster the South & Central America bearing steel market in the coming years.
South & Central America Bearing Steel Market Overview
Governments of various countries in South & Central America are focusing on developing infrastructure projects, which is expected to boost the demand for bearing steel in the construction industry. Moreover, the significant presence of automotive companies in Brazil and Argentina and the rise in sales of vehicles are propelling the sales of bearing steel in the region. According to the report by the Brazilian Association of Automotive Vehicle Manufacturers, automotive production in Brazil grew by 11.4%, and sales boosted by 10.9% during February–March 2022. Further, major players operating in the automotive sector are adopting various strategies for the development of their operational capacities in South & Central America. In 2022, Audi AG invested US$ 19.2 million to restart production at its plant in Parana, Brazil and registered a capacity of 4,000 vehicles per year. Thus, the increasing presence of the automotive industry is driving the industrial components market, which, in turn, is projected to boost the South & Central America bearing steel market in South & Central America during the forecast period.
South & Central America Bearing Steel Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Bearing Steel Market Segmentation
The South & Central America bearing steel market is segmented into type, end use, and country.
Based on type, the South & Central America bearing steel market is segmented into carbon steel, stainless steel, and others. In 2022, the carbon steel segment registered a largest share in the South & Central America bearing steel market.
Based on end use, the South & Central America 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 South & Central America bearing steel market.
Based on country, the South & Central America bearing steel market is segmented into Brazil, Argentina, and the Rest of South & Central America. In 2022, the Rest of South & Central America segment registered a largest share in the South & Central America bearing steel market.
Baosteel Group Corp; HBIS Group Co Ltd; Kobe Steel Ltd; and Sanyo Special Steel Co Ltd are the leading companies operating in the South & Central America bearing steel market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 South & Central America Bearing Steel Market – By Type
1.3.2 South & Central America Bearing Steel Market – By End Use
1.3.3 South & Central America Bearing Steel Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America 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: South & Central America 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. South & Central America 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 – South & Central America Market Analysis
6.1 South & Central America Bearing Steel Market Forecast and Analysis
7. South & Central America Bearing Steel Market Analysis – By Type
7.1 Overview
7.2 South & Central America Bearing Steel Market, By Type (2021 and 2028)
7.3 Carbon Steel
7.3.1 Overview
7.3.2 Carbon Steel: South & Central America Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
7.3.3 Carbon Steel: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Stainless Steel
7.4.1 Overview
7.4.2 Stainless Steel: South & Central America Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
7.4.3 Stainless Steel: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: South & Central America Bearing Steel Market – Volume and Forecast to 2028 (Kilo Tons)
7.5.3 Others: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Mn)
8. South & Central America Bearing Steel Market Analysis – End Use
8.1 Overview
8.2 South & Central America Bearing Steel Market, By End Use (2021 and 2028)
8.3 Energy and Power
8.3.1 Overview
8.3.2 Energy and Power: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Industrial Machinery
8.4.1 Overview
8.4.2 Industrial Machinery: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Automotive
8.5.1 Overview
8.5.2 Automotive: South & Central America 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: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Aerospace
8.7.1 Overview
8.7.2 Aerospace Market: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: South & Central America Bearing Steel Market – Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Bearing Steel Market – Country Analysis
9.1 Overview
9.1.1 South & Central America: Bearing Steel Market, by Key Country
9.1.1.1 Brazil: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.1.1.2 Brazil: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Brazil: Bearing Steel Market, by Type
9.1.1.2.2 Brazil: Bearing Steel Market, by Type
9.1.1.2.3 Brazil: Bearing Steel Market, by End Use
9.1.1.3 Argentina: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.1.1.4 Argentina: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Argentina: Bearing Steel Market, by Type
9.1.1.4.2 Argentina: Bearing Steel Market, by Type
9.1.1.4.3 Argentina: Bearing Steel Market, by End Use
9.1.1.5 Rest of South & Central America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
9.1.1.6 Rest of South & Central America: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of South & Central America: Bearing Steel Market, by Type
9.1.1.6.2 Rest of South & Central America: Bearing Steel Market, by Type
9.1.1.6.3 Rest of South & Central America: Bearing Steel Market, by End Use
10. Company Profiles
10.1 HBIS Group Co Ltd
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 Kobe Steel 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 Baosteel Group Corp
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 Sanyo 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
11. Appendix
11.1 About The Insight Partners
11.2 Glossary of Terms
LIST OF TABLES
Table 1. South & Central America Bearing Steel Market Revenue Forecast to 2028 (US$ Mn)
Table 2. Brazil Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 3. Brazil Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 5. Argentina Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 6. Argentina Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of South & Central America Bearing Steel Market, by Type – Volume and Forecast to 2028 (Kilo Tons)
Table 9. Rest of South & Central America Bearing Steel Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of South & Central America Bearing Steel Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 11. Glossary of Terms, South & Central America Bearing Steel Market
LIST OF FIGURES
Figure 1. South & Central America Bearing Steel Market Segmentation
Figure 2. South & Central America Bearing Steel Market Segmentation – By Country
Figure 3. South & Central America Bearing Steel Market Overview
Figure 4. Carbon Steel segment holds the largest share
Figure 5. Rest of South & Central America Held Largest Share of South & Central America Bearing Steel Market in 2021
Figure 6. Porter's Five Forces Analysis
Figure 7. Ecosystem: South & Central America Bearing Steel Market
Figure 8. Expert Opinion
Figure 9. South & Central America Bearing Steel Market Impact Analysis of Drivers and Restraints
Figure 10. South & Central America Bearing Steel Market Forecast and Analysis, 2020–2028 (US$ Mn)
Figure 11. South & Central America Bearing Steel Market Revenue Share, By Type (2021 and 2028)
Figure 12. Carbon Steel: South & Central America Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 13. Carbon Steel: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. Stainless Steel: South & Central America Bearing Steel Market – Volume and Forecast To 2028 (Kilo Tons)
Figure 15. Stainless Steel: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Others: South & Central America Bearing Steel Market – Volume and Forecast To 2028 (Tons)
Figure 17. Others: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. South & Central America Bearing Steel Market Revenue Share, By End Use (2021 and 2028)
Figure 19. Energy and Power: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 20. Industrial Machinery: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 21. Industrial End Uses: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 22. Electrical and Electronics: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 23. Aerospace: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 24. Others: South & Central America Bearing Steel Market – Revenue and Forecast To 2028 (US$ Million)
Figure 25. South & Central America: Bearing Steel Market, by Key Country - Revenue (2021) (US$ Million)
Figure 26. South & Central America: Bearing Steel Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. Brazil: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 28. Brazil: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Argentina: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 30. Argentina: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of South & Central America: Bearing Steel Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 32. Rest of South & Central America: Bearing Steel Market –Revenue and Forecast to 2028 (US$ Million)
- Baosteel Group Corp
- HBIS Group Co Ltd
- Kobe Steel Ltd
- 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 South & Central America bearing steel 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 South & Central America bearing steel 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 South & Central America market trends and outlook coupled with the factors driving the bearing steel 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