The global Trunnion Spherical Bearings was valued at US$ 39,640 Million in 2021 and is expected to surpass US$ 60,840 Million by 2030, registering a CAGR of 5.1% during the forecast period (2022-2030), according to the Global Trunnion Spherical Bearings Market, By Type (Split Spherical Roller Bearings and Non-split Bearings), By Industry (Aviation, Oil and Gas, Manufacturing, Energy, and Others), By Distribution Channel (Online Sales, Company Direct Sales, and Distributor Sales) by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
Trunnion spherical bearing is primarily used in machines that operate under two stresses, rotational and axial. These two stresses may cause damage to the machine by creating vibrations in the machine, thereby reducing its life. These bearings provide good quality to the machine and is a cost-effective way to reduce the vibrations in the machine. There are various types of trunnion spherical bearings available in the market such as spherical roller bearings and non-split bearings
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).
Key Developments
- In March 2020, Schaeffler Technologies AG & Co. KG, a manufacturer of rolling element bearings, initiated a new manufacturing plant in Vietnam that offers a needle-bearing roller. Whereas, this plant will serve the increasing global demand and further confirm business stability
Global Trunnion Spherical Bearings Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 epidemic has had a negative impact on the market for trunnion spherical bearings worldwide. As they can sustain significant axial and radial load combinations of the rolls and cylinders utilized, trunnion spherical bearings are frequently used in the aviation sector. But, due to the pandemic, the aviation sector was shut down, and manufacturers experienced financial difficulties as a result of a shortage of raw materials caused by a disruption in the supply chain. This delayed the start of many new projects, which negatively impacted the sales of trunnion spherical bearings.
As a result, the global market for trunnion spherical bearings grew slowly during the pandemic.
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Competitive landscape of the Global Trunnion Spherical Bearings Market:
- 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.
