The new report by Expert Market Research titled, ‘Global Sliding Bearing Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global sliding bearing market, assessing the market based on its segments like type, material, application, railway type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 928 Million
- Forecast CAGR (2021-2026): 5.75%
- Forecast Market Size (2026): USD 1381 Million
In the coming years, the projected growth in railway infrastructure projects is expected to be the primary demand driver for sliding bearings. Rapidly increasing urbanisation is driving up demand for light trains and metros, which will help the sliding bearing market expand over the forecast period. Sliding bearings are expected to continue to increase in popularity due to their cost-effectiveness, high performance, and reliability. The market's expansion, however, may be hampered by raw material price fluctuations and the limited use of sliding bearings in the railway industry over the forecast period, the market is likely to benefit from rising demand for hybrid and autonomous train technologies, and also growing use of non-metallic sliding bearings.
Industry Definition and Major Segments
A plain bearing, also known as a sliding bearing or slide bearing (also known as a solid bearing, journal bearing, or friction bearing in railroading), is the most basic type of bearing, consisting of only a bearing surface and no rolling parts.
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By type, the market can be divided into:
Based on material, the industry can be bifurcated into:
- Metallic
- Non-Metallic
The market can be categorised based on application into:
- Engine
- Brakes
- Bogie
- Interior
- Exterior
On the basis of railway type, the industry can be segmented into:
- Locomotive
- Diesel Multiple Unit (DMU)
- Electric Multiple Unit (EMU)
- Coach
- Wagon
- Light Rail and Metro
- High-Speed Train
Regionally, the market is classified into:
- North America
- Latin America
- Europe
- Middle East and Africa
- Asia Pacific
Market Trends
The need for custom-designed cars has grown as the potential for freight movement between the countries has grown. To withstand such enormous weights, the bogies must be modified. These changes will necessitate a greater number of sliding bearings, resulting in an increase in demand for sliding bearings for bogie applications. Regional governments' efforts to expand their railway networks have boosted demand for locomotives, carriages, and coaches. Moreover, measures at the national level to improve public transit and minimise traffic congestion will raise demand for this sector. As a result of all of these forthcoming needs in railways, sliding bearings will be installed in a variety of applications. Over the forecast period, high efficiency, dependability, and cost-effectiveness, and an increase in railway infrastructure investments and supply contracts, are likely to drive demand for sliding bearings.
Key Market Players
The major players in the market are SKF, NTN Corporation, Saint-Gobain Performance Plastics Pampus GmbH, The Timken Company, and Schaeffler Technologies AG & Co. KG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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