[342 Pages Report] The global marine bearings market is forecasted to be appraised at US$ 8543.0 million by 2032, up from US$ 5622.0 million in 2022, advancing at a CAGR of 4.3% during the forecast period.
The marine bearings have critical importance in any marine vessel, whether it is a cruise ship with full luxury and comfort or any other ship used for transportation or a warship to protect the water boundaries of the nation. This factor is likely to influence the growth of the marine bearings market during the period 2022 to 2032.
Marine bearings have their prime application in providing support to the engine in the transmission of power and load. Thus the demand for marine bearings is anticipated to see a rise in the market size. Marine bearings are specially designed to be used in an underwater environment.
| Report Attribute | Details |
|---|---|
| Marine Bearings Market Value (2022) | US$ 5622.0 Million |
| Marine Bearings Market Anticipated Value (2032) | US$ 8543.0 Million |
| Marine Bearings Projected Growth Rate (2022 to 2032) | 4.3% |
Moreover, the shipbuilding industry is on rising due to increased globalization, and easy accessibility of raw materials, components, and finished products across the globe, which is driving the sales of marine bearings.
Therefore, the marine bearing industry is expected to have significant growth in the upcoming years due to its long operational life being the prime criterion in the market.
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Marine bearings have a prime application in providing support to the engines in the transmission of power and load. Saltwater is corrosive to metal. Hence the metal bearings do not sustain in saltwater for long, leading to subsequent corrosion and failure in due course of time. This increases the maintenance and operational costs for the ships and is driving the demand for marine bearings.
Moreover, the corrosive resistant nature of marine bearings with superior reliability even at extreme water temperatures with limited lubrication requirements is acting as a key driver for generating huge sales for marine bearings.
Furthermore, due to increased globalization, there is a growth in the shipbuilding industry. The market players in the industry are engaged in the construction, repair, and modification of ships, which is anticipated to drive the market size of marine bearings.
Additionally, according to the United Nations Conference on Trade and Development (UNCTAD), the operation of merchant ships contributes to approximately US$ 380 billion in freight rates within the global economy, representing about 5% of the total world trade.
The growth of the global seaborne trade can be attributed to the surging demand for marine bearings, expansion of e-commerce platforms as well as growing industrialization is driving the steady growth of the shipbuilding industry, which in turn is fuelling the marine bearings market size.
Furthermore, the rise in water-based logistics activities has led to a continuous increase in sea traffic which has fuelled the demand for ships & cargo in the past few years, and it is expected to boost the shipbuilding industry in the forecast period, which in turn will create demand for marine bearings market over this period.
In addition, several governmental authorities have proposed financial provisions for the marine industry. These are among the few key factors signaling the marine bearings market to take off to a healthy recuperation.
However, the unprecedented economic disaster caused huge losses to industry stakeholders in the base year, with imposed bans and shrinkage of cargo volumes, which have acted as key restraining factors for the marine bearings market.
At present, Asia-Pacific is expected to be the largest and fastest-growing market for marine bearings during the forecast period. The region has a dominant presence in the merchant marine, fishing vessel, and offshore vessel segments.
China is a dominant player in the region, and it alone produces more than 90 percent of the world’s shipping containers.
A demand and growing preference for outdoor recreational activities in these regions has increased the demand for recreational boats. To satisfy the high-end demand of clients, manufacturers are designing luxury yachts with the best machinery, including better composite bearings. Due to these reasons, the shipbuilding industry has observed a steady rise in terms of recreational boat manufacturing.
Moreover, growth in the travel, transportation, and leisure sectors is an important factor driving the growth in these regions. The repairs and maintenance demands of the components are also expected to leverage the market growth for marine bearings.
However, in terms of production Europe and North American regions are expected to hold a major share of the marine bearings market, whereas North America is anticipated to have a prominent market in terms of demand.
Principal Consultant
Some of the key players in the marine bearings market are: TENMAT Ltd, Trelleborg Sealing Solutions, Thordon Bearings Inc., Orkot® Marine, Teignbridge Propellers International Limited, VERSITEC MARINE, HORN International AS, SKF group, Chatfield Engineering Limited, CJR Propulsion., CRAFTED WITH CRAFTSMAN MARINE, ELCIHE RADICE Spa, Italian Propellers S.r.l., Lewmar Limited.
Some of the key developments in the marine bearings market are:
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2014 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in US$ million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The marine bearings market is precited to grow at a CAGR of 4.3% during the forecast period.
The marine bearings market would be US$ 8543.0 million by the end of 2032.
Surging demand for recreational boats and yachts owing to the rising disposable incomes of people is poised to drive the global market.
Composite bearings surpass the traditional metal or bronze bushing in terms of durability, productivity, and maintenance and therefore dominate the global market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Marine Bearings Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Units) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Type ofVessel 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Type ofVessel, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Type ofVessel, 2022-2032 5.3.1. Merchant Marine Vessel 5.3.2. Navy Marine Vessel 5.3.3. Yachts Marine Vehicle 5.4. Y-o-Y Growth Trend Analysis By Type ofVessel, 2017-2021 5.5. Absolute $ Opportunity Analysis By Type ofVessel, 2022-2032 6. Global Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Bearing Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Bearing Type, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Bearing Type, 2022-2032 6.3.1. Main Bearing 6.3.2. Top End Bearing 6.3.3. Bottom End Bearing 6.3.4. Thrust Pad Bearing 6.3.5. Pedestal Bearing 6.4. Y-o-Y Growth Trend Analysis By Bearing Type, 2017-2021 6.5. Absolute $ Opportunity Analysis By Bearing Type, 2022-2032 7. Global Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Material 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Material, 2017-2021 7.3. Current and Future Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Material, 2022-2032 7.3.1. Lead Bronze Bearing 7.3.2. Bi-metal Bearing 7.3.3. Tri Metal Bearing 7.3.4. Others 7.4. Y-o-Y Growth Trend Analysis By Material, 2017-2021 7.5. Absolute $ Opportunity Analysis By Material, 2022-2032 8. Global Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Mn) & Volume (Units) Analysis By Region, 2017-2021 8.3. Current Market Size Value (US$ Mn) & Volume (Units) Analysis and Forecast By Region, 2022-2032 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Country 9.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 9.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 9.2.1. By Country 9.2.1.1. U.S. 9.2.1.2. Canada 9.2.2. By Type ofVessel 9.2.3. By Bearing Type 9.2.4. By Material 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type ofVessel 9.3.3. By Bearing Type 9.3.4. By Material 9.4. Key Takeaways 10. Latin America Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Type ofVessel 10.2.3. By Bearing Type 10.2.4. By Material 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type ofVessel 10.3.3. By Bearing Type 10.3.4. By Material 10.4. Key Takeaways 11. Europe Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. U.K. 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Type ofVessel 11.2.3. By Bearing Type 11.2.4. By Material 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type ofVessel 11.3.3. By Bearing Type 11.3.4. By Material 11.4. Key Takeaways 12. Asia Pacific Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Malaysia 12.2.1.5. Singapore 12.2.1.6. Australia 12.2.1.7. New Zealand 12.2.1.8. Rest of APAC 12.2.2. By Type ofVessel 12.2.3. By Bearing Type 12.2.4. By Material 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type ofVessel 12.3.3. By Bearing Type 12.3.4. By Material 12.4. Key Takeaways 13. MEA Marine Bearings Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Units) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) & Volume (Units) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Type ofVessel 13.2.3. By Bearing Type 13.2.4. By Material 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type ofVessel 13.3.3. By Bearing Type 13.3.4. By Material 13.4. Key Takeaways 14. Key Countries Marine Bearings Market Analysis 14.1. U.S. 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2021 14.1.2.1. By Type ofVessel 14.1.2.2. By Bearing Type 14.1.2.3. By Material 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2021 14.2.2.1. By Type ofVessel 14.2.2.2. By Bearing Type 14.2.2.3. By Material 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2021 14.3.2.1. By Type ofVessel 14.3.2.2. By Bearing Type 14.3.2.3. By Material 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2021 14.4.2.1. By Type ofVessel 14.4.2.2. By Bearing Type 14.4.2.3. By Material 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2021 14.5.2.1. By Type ofVessel 14.5.2.2. By Bearing Type 14.5.2.3. By Material 14.6. U.K. 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2021 14.6.2.1. By Type ofVessel 14.6.2.2. By Bearing Type 14.6.2.3. By Material 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2021 14.7.2.1. By Type ofVessel 14.7.2.2. By Bearing Type 14.7.2.3. By Material 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2021 14.8.2.1. By Type ofVessel 14.8.2.2. By Bearing Type 14.8.2.3. By Material 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2021 14.9.2.1. By Type ofVessel 14.9.2.2. By Bearing Type 14.9.2.3. By Material 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2021 14.10.2.1. By Type ofVessel 14.10.2.2. By Bearing Type 14.10.2.3. By Material 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2021 14.11.2.1. By Type ofVessel 14.11.2.2. By Bearing Type 14.11.2.3. By Material 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2021 14.12.2.1. By Type ofVessel 14.12.2.2. By Bearing Type 14.12.2.3. By Material 14.13. Malaysia 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2021 14.13.2.1. By Type ofVessel 14.13.2.2. By Bearing Type 14.13.2.3. By Material 14.14. Singapore 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2021 14.14.2.1. By Type ofVessel 14.14.2.2. By Bearing Type 14.14.2.3. By Material 14.15. Australia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2021 14.15.2.1. By Type ofVessel 14.15.2.2. By Bearing Type 14.15.2.3. By Material 14.16. New Zealand 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2021 14.16.2.1. By Type ofVessel 14.16.2.2. By Bearing Type 14.16.2.3. By Material 14.17. GCC Countries 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2021 14.17.2.1. By Type ofVessel 14.17.2.2. By Bearing Type 14.17.2.3. By Material 14.18. South Africa 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2021 14.18.2.1. By Type ofVessel 14.18.2.2. By Bearing Type 14.18.2.3. By Material 14.19. Israel 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2021 14.19.2.1. By Type ofVessel 14.19.2.2. By Bearing Type 14.19.2.3. By Material 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Type ofVessel 15.3.3. By Bearing Type 15.3.4. By Material 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. TENMAT Ltd 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Trelleborg Sealing Solutions 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Thordon Bearings Inc. 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Orkot® Marine 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Teignbridge Propellers International Limited 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. VERSITEC MARINE 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. HORN International AS 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. SKF group 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Chatfield Engineering Limited 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. CJR Propulsion. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 16.1.11. CRAFTED WITH CRAFTSMAN MARINE 16.1.11.1. Overview 16.1.11.2. Product Portfolio 16.1.11.3. Profitability by Market Segments 16.1.11.4. Sales Footprint 16.1.11.5. Strategy Overview 16.1.11.5.1. Marketing Strategy 16.1.11.5.2. Product Strategy 16.1.11.5.3. Channel Strategy 16.1.12. ELCIHE RADICE Spa 16.1.12.1. Overview 16.1.12.2. Product Portfolio 16.1.12.3. Profitability by Market Segments 16.1.12.4. Sales Footprint 16.1.12.5. Strategy Overview 16.1.12.5.1. Marketing Strategy 16.1.12.5.2. Product Strategy 16.1.12.5.3. Channel Strategy 16.1.13. Italian Propellers S.r.l. 16.1.13.1. Overview 16.1.13.2. Product Portfolio 16.1.13.3. Profitability by Market Segments 16.1.13.4. Sales Footprint 16.1.13.5. Strategy Overview 16.1.13.5.1. Marketing Strategy 16.1.13.5.2. Product Strategy 16.1.13.5.3. Channel Strategy 16.1.14. Lewmar Limited 16.1.14.1. Overview 16.1.14.2. Product Portfolio 16.1.14.3. Profitability by Market Segments 16.1.14.4. Sales Footprint 16.1.14.5. Strategy Overview 16.1.14.5.1. Marketing Strategy 16.1.14.5.2. Product Strategy 16.1.14.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Marine Bearings Market
