The North America angular contact ball bearing market was valued at USD 1,812 Million in 2019 and is projected to reach USD 2,289 Million by 2027, expanding at a CAGR of 3.7% during the forecast period. The market is driven by factors such as increasing need for ability to handle combined loads, growing adoption of angular contact ball bearings in various industries, increasing demand for high precision angular ball bearing in high-speed applications, growing demand from automotive industry. Conversely, volatility in raw material prices is a major challenge.
Angular contact ball bearings are a type of rolling component bearings. The angular contact ball bearings use a ball as the rolling element to sustain loads. They have raceways in the inner and the outer rings which are comparatively displaced to each other in the direction of the bearing axis. This indicates that these bearings are designed to carry instantaneously acting radial and axial loads. The angular contact ball bearings can bear combined loads.
The axial load-bearing capacity of these bearings rises with the increase in the angle of contact but decreases the radial load capacity, and hence they are called angular contact bearings. The various types of angular contact bearings include single-row contact ball bearings, which are used for point contact ball bearings, and double-row contact ball bearings. Angular contact ball bearings utilize axially asymmetric races. The angle of the contact of the inner race is similar to the angle of contact of the outer race.
Increasing demand for angular contact ball bearing across numerous industry verticals is expected to boost the market during the forecast period. Moreover, the increasing adoption of precision engineering in the manufacturing and industrial sectors for operating in extreme work conditions is anticipated to fuel the market in the coming years.
Growing focus on product innovation to gain a competitive edge in the market is anticipated to create lucrative opportunities for the market players in the North America angular contact ball bearing market in the coming years. For instance, NSK Ltd., a Japan-based bearing manufacturer for numerous industries, announced the launch of a new machine tool spindle bearing technology to improve spindle reliability and productivity. Similarly, the US based power transmission and bearing product manufacturer launched an angular contact ball bearing for compressor, pump, electric motor, and other industrial applications. The angular contact ball bearing features robust seals and high-speed capability. Innovations in products are anticipated to fuel the North America angular contact ball bearing market during the forecast period.
By Product Types Segment
In terms of Product Types, the North America angular contact ball bearing market is segmented into single row angular contact, and double row angular contact. The single row angular contact segment dominated the market with a share of 67.0% in 2019. This growth may be attributed to the capability of single row angular contact ball bearings to withstand heavy loads. Single row angular contact ball bearings can withstand radial, composite, or axial loads. However, it can bear the axial load in a single direction. High contact angle in single row angular contact ball bearing has superior axial load capability. The double row angular contact segment is anticipated to expand at a CAGR of 3.4% during the forecast period. The capability of double row angular ball bearing is less than single row angular ball bearing, as a few balls can be inserted per row. Double row angular contact ball bearings can withstand moment, radial, and bi-directional axial loads. The bearings are available in open and sealed designs. The double row angular contact ball bearing adoption for limited axial space applications is increasing. Thus, contributing to a propelling the segment.
By Contact Angles Segment
On the basis Contact Angles, the North America angular contact ball bearing market is segmented into 15°, 25°, 30°, 40°, and others. The 15° °segment is anticipated to hold a significant share of the market, owing to their increasing application in the high-precision industries. Synthetic resin, machined brass cages, or molded polyamide cages are used in 15° angular contact ball bearings. The highest working temperature of molded polyamide cages is 120°c. Thus, propelling the segment. The 25° segment is anticipated to grow at a CAGR of 3.9%. The 40° segment is expected to grow at a high CAGR during the forecast period, owing to its increasing adoption for single row angular contact ball bearings.
By Applications Segment
Based on applications, the market is categorized as agriculture machinery, engineering machinery, automotive, and others. The agriculture industry extensively uses heavy equipment and machinery. Angular contact ball bearings are known for their high radial and axial load capacities and high performance that make them an idyllic solution for agricultural machinery. This in turn is anticipated to boost the segment. Angular contact ball bearings are used in the automobile industry due to their durability and high capabilities to working in hostile environments. Angular contact ball bearings are used in clutches, gearbox, steering arrangements, engines, and other automotive parts. This is likely to drive the segment growth. The others segment is estimated to grow at a CAGR of 4.4% during the forecast period.
By Precision Segment
On the basis of Precision, the market is classified into high precision angular contact ball bearing, and standard angular contact ball bearing. High precision angular contact ball bearings are designed to accommodate heavy loads at comparatively high speeds under low to moderate working temperatures. Some of the features of high precision angular contact ball bearing are optimized chamfer design, lightweight cage, and asymmetrical outer ring. Some advantages of high precision angular contact ball bearing are high load carrying capacity, large cross-section, and have good thermal stability. The high precision angular contact ball bearing is estimated to grow at significant CAGR during the forecast period.
By Sales Channels segment
In terms of Sales Channels, the North America angular contact ball bearing market is divided into Online, and Offline. The sale of angular contact ball bearings is anticipated to rise using the offline sales channel, as it provides convenience. Physical display of angular contact ball bearings and the ability to check features of the products are key factors fueling the demand the offline sales channels. Offline stores help consumers differentiate between products based on the quality and material. The offline segment includes retail stores, wholesalers, and distributors. The online segment is anticipated to grow significantly during the forecast period.
On the basis of Country, the market is categorized as US and Canada. The market in US accounted for the significant share of the market in 2019 and is anticipated to grow during the forecast period owing to the early adoption of technologically advanced products in the US. The market in Canada is anticipated to expand considerably during the forecast period, due to the rising demand for advanced angular contact ball bearings.
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Additional company profiles can be provided on request.
According to this Growth Market Reports, the market for angular contact ball bearing market is likely to register a CAGR of 3.7% during period 2020-2027, with an anticipated valuation of USD 2,289 million by the end of the 2027.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the North America angular contact ball bearing market is available in final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The North America angular contact ball bearing market is anticipated to grow significantly during forecast period due to increasing demand for high precision angular ball bearing.
The demand for angular contact ball bearing from automotive applications is driving the market growth.
The market is expected to witness sluggish growth during 2019-2020 owing to the impact of COVID-19 pandemic on the North America angular contact ball bearing market.
The base year considered for the North America angular contact ball bearing market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years, and the forecast is provided from 2020 to 2027.
Major Manufacturers include SKF, JTEKT Corporation, NSK Ltd., NTN BEARING CORPORATION OF AMERICA, Schaeffler Group, and The Timken Company
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