United States Ceramic Roller Bearings Market to Reach US$ 170.4 Million by 2028, Propelled by Considerable Growth in Automotive Industry

October 25, 2022 | Heavy Industry

According to the latest report by IMARC Group, titled “United States Ceramic Roller Bearings Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the United States ceramic roller bearings market size reached US$ 94.8 Million in 2022. Ceramic roller bearings refer to rotatory machine components, including rolling cylindrical elements, that are designed to carry heavy loads while minimizing friction. Several elements like the inner and outer ring, balls, snap rings, and retainers are generally included. They are primarily composed of various ceramic materials that provide higher electrical insulation, superior dimensional stability, and better water resistance. The ceramic roller bearing exhibits lower thermal conductivity, enhanced electrical insulation, and better acceleration capabilities than conventional bearings. Consequently, they are widely used in manufacturing across a variety of end-use industries. 


United States Ceramic Roller Bearings Market Trends:

The market in the United States is primarily driven by considerable growth in the automotive industry. This can be attributed to the escalating demand for heavy-duty passenger cars and commercial vehicles. The growing utilization of lightweight materials in automotive components resulting in the incorporation of ceramic roller bearings for high-temperature applications and fuel efficiency is also propelling the market. Additionally, the market is propelled by the inclination to use ceramic-based bearings over stainless-steel bearings for rail and marine equipment that requires corrosion-resistant parts. Apart from this, numerous technological advancements, such as the introduction of advanced seal, lubrication technologies and lightweight materials, are creating a positive outlook for the market. Some of the other factors contributing to the market include rapid industrialization, the augmenting demand for commercial vehicles, continual innovations in the manufacturing of conveyors and electric motors, inflating disposable income levels, and extensive research and development (R&D) activities conducted by the key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 170.4 Million by 2028, exhibiting a CAGR of 10.36% during 2023-2028.


Market Summary:

  • Based on the type, the market has been segmented into silicon nitride, zirconium oxide, and others.
  • On the basis of the product type, the market has been divided into hybrid ceramic roller bearings and full ceramic ball bearings.
  • Based on the application, the market has been categorized into automotive and railways, industrial and mechanical equipment, power generation, aerospace, and others.
  • On the geographical front, the market has been segregated into northeast, midwest, south, and west.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
     

Report Scope:

Report Features Details
Base Year of the Analysis 2022
 Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Million
Segment Coverage Type, Product Type, Application, Region
Region Covered Northeast, Midwest, South, West
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United States Ceramic Roller Bearings Market to Reach US$ 170.4 Million by 2028, Propelled by Considerable Growth in Automotive Industry
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