Mining Bearings Market to Witness Mounting Growth in Approaching Time

Stratview Research has published a report on the Mining Bearings Market Segmented by Bearing Type (Ball Bearing [Angular Contact Ball Bearing, Deep Groove Ball Bearing, and Others], Roller Bearing [Tapered Roller Bearing, Cylindrical Roller Bearing, Spherical Roller Bearing, and Others], Plain Bearings, and Others), by Material Type (Metallic Bearings, Non-Metallic Bearings, and Hybrid Bearings), by Application Type (Shovel, Haul Truck, Dragline, Crushing, Screening & Conveying, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Segments’ Analysis

The market researchers have studied the Mining Bearings Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is the short piece of information –

Based on the bearing type, the market is segmented as ball bearing, roller bearing, plain bearing, and others. Ball bearings are further classified as angular contact ball bearing, deep groove ball bearing, and others. In a similar way, roller bearings are further classified as tapered roller bearing, cylindrical roller bearing, spherical roller bearing, and others. Roller bearings are expected to remain the most dominant product type in the market during the forecast period, driven by their high-load-carrying capacity and ability to operate in case of shocks and misalignments, helping OEMs to obtain low-maintenance costs and longer bearing service life.

Based on the application type, the market is segmented as shovel; haul truck; dragline; crushing, screening & conveying; and others. Crushing, screening, & conveying is likely to be the leading segment of the market during the forecast period. Tapered, cylindrical, and spherical roller bearings reduce friction for greater operational efficiency in critical locations such as the swing system. The haul truck segment is expected to record healthy growth during the forecast period, driven by huge demand from both OE and aftermarket levels. The rotational movements in haul truck wheel ends are enabled by tapered roller bearings.

In terms of regions, Asia-Pacific is expected to be the largest and the fastest-growing market for mining bearings during the forecast period. China is not only the largest market in the region but also in the global marketplace, driven by the dominance of the country in the production of coal, gold, and most of the rare-earth minerals, creating a humongous demand for mining equipment. North America is also expected to register healthy growth during the forecast period, led by the presence of key players in the region, increasing mining activities in the USA, and the adoption of the latest technology in the mining process. The USA is anticipated to be the fastest-growing market in the regional landscape.

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What else are available in this report?

The answer lies in the TOC and other details. Take a sneak-peek into the TOCs of this report.

  • Report Scope
  • Report Objectives
  • Research Methodology
  • Market Segmentation
  • Secondary Research
  • Primary Research
  • Breakdown of Primary Interviews by Region, Designation, and Value Chain
  • Data Analysis and Triangulation

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