TRUNNION SPHERICAL BEARINGS MARKET ANALYSIS

A trunnion spherical bearing is a special type of bearing, which is used when there is an axial load on the shaft with rotational movement. Trunnion spherical bearings also allow certain misalignment of the rotating shaft, which further reduces vibration in the machine. Due to these benefits provided by trunnion spherical bearings, it finds application in the aviation industry, manufacturing industry, oil and gas industry, and others.

The global trunnion spherical bearings market was valued at US$ 39,640 Mn in 2021 and is expected to exhibit a CAGR of 5.1% during the forecast period (2022 - 2030)

Recent Developments:

• In November 2022- SFK, a bearing, and seal manufacturing company announced the acquisition of Tenute Srl, a developer, and manufacturer of sealing solutions. This acquisition has protected Tenute Srl, all leading offers, with a specific focus on customers.
• In January 2020- National Engineering Industries Ltd. (NEI) part of CK Birla Group, announced the acquisition of Kinex bearings, a bearing manufacturer. Through this deal NEI plan to expand its product offering, NEI covers more ground geographically, improve services to current clients, and attracts new clients.

Restraint:

• Short life span of trunnion spherical bearings is expected to hamper the global trunnion spherical bearings market growth during the forecast period

Global Trunnion Spherical Bearings Market - Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 pandemic has adversely affected the global trunnion spherical bearing market. Trunnion spherical bearing is widely used in the aviation industry, as they have the capability to support substantial axial and radial load combinations of the rolls and cylinders used.

 But, due to the pandemic, the aviation industry was shut down and caused disruption in the supply chain. Furthermore, manufacturers faced financial crises due to which many new projects were postponed which directly impacted the sales of the trunnion spherical bearing. Hence, the global trunnion spherical bearing market witnessed slow growth during the pandemic.

Asia Pacific held a dominant position in the global trunnion spherical bearings market in 2021

Statistics:

Asia Pacific held a dominant position in the global trunnion spherical bearings market in 2021, accounting for 37.4% share in terms of value, followed by North America, Europe, Latin America and Middle East, and Africa, respectively.

Figure 1: Global Trunnion Spherical Bearings Market Share (%), By Region, 2021

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Asia Pacific is the leading market in terms of revenue in 2021 and is expected to hold its dominant position over the forecast period. The market growth in these regions is attributed to the growing aviation industry. For instance, the trunnion spherical market is majorly used to support substantial axial and radial load combinations of the rolls and cylinders, which is expected to drive demand for trunnion spherical bearings over the forecast period.

Figure 2: Global Trunnion Spherical Bearings Market (US$ Mn) Analysis and Forecast, 2022 - 2030

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The global trunnion spherical Bearing market was valued at US$ 39,640 Mn in 2021 and is expected to reach US$ 60,840 Mn by 2030, growing at a CAGR of 5.1% between 2022 and 2030.

Major players operating in the global trunnion spherical bearings market include AB SKF, Pratt & Whitney, Rockwell Automation, Inc., Safran S.A., Avio S.p.A., IHI Corporation, AST Bearings LLC, Thomson Industries, Inc., NTN Corporation, NSK Ltd., Schaeffler Technologies AG & Co. KG, General Electric Company, ILJIN co., ltd., JTEKT Corporation, The Timken Company, GMB Corporation, and others.