Global Anti-Friction Bearing Market 2017-2021

Overview of the global anti-friction bearing market

According to Technavio’s analyst, the global anti-friction bearing market is anticipated to grow at a steady rate and post a CAGR of more than 4% during the forecast period. The growing demand for commercial aircrafts will drive the growth prospects for the global anti-friction bearing market until the end of 2021. Some of the contributing factors such as high replacement rate, increased aircraft size, technological revolutions, and increased high-net-worth population drive the aviation sector, which, in turn, will fuel the growth potential of the global anti-friction bearing market. Also, since the aircraft's lifespan is of 25 years, the replacement rate of aircraft is expected to rise from 2020.This will increase the demand for commercial aircraft and will positively influence the market by driving the demand for anti-friction bearings from the aviation sector.

The growing demand for hybrid and ceramic bearings will drive the growth prospects for the global anti-friction bearing market for the next four years. One of the factors responsible for the increasing demand for hybrid and ceramic bearings is its ability to deal with reduced lubrication and high loads and speeds. Additionally, these ceramic and hybrid bearings are applicable in a wide range of nuclear, high speed, vacuum, cryogenic, non-magnetic, and insulating applications, which will again, fuel market growth.

Competitive landscape and key vendors