Trunnion Spherical Bearings Market Size, Share, Growth, and Industry Analysis, By Type (Split Spherical Roller Bearings and Non-Split Bearings), By Application (Helicopters, Twin-Aisle Aircraft, Single-Aisle Aircraft and Regional Aircraft), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Trunnion Spherical Bearings Market REPORT OVERVIEW

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The global trunnion spherical bearings market size was USD 41340 million in 2022 and is projected to touch USD 56798 million by 2031, at CAGR of 3.6% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

The trunnion spherical bearings market refers to the industry involved in the manufacturing, distribution, and sales of trunnion spherical bearings. Trunnion spherical bearings are mechanical components used in various applications to enable rotational movement between two parts while accommodating misalignment and reducing friction.

Trunnion spherical bearings consist of an inner ring with a spherical surface, an outer ring with a corresponding spherical surface, and a bearing housing or trunnion that holds the inner and outer rings together. These bearings are designed to handle high loads, provide smooth rotation, and compensate for angular misalignment, axial displacement, and shaft deflection.

COVID-19 Impact: Supply Chain Disruptions to Challenge the Market Demands

The pandemic has disrupted global supply chains, causing delays in the production and delivery of trunnion spherical bearings. Manufacturing facilities faced temporary closures, restrictions on workforce, and transportation disruptions, leading to a shortage of raw materials and components necessary for production. Many industries that utilize trunnion spherical bearings, such as automotive, aerospace, and industrial machinery, experienced a decline in demand during the pandemic. Lockdown measures, reduced economic activity, and financial uncertainties led to a decrease in new projects, investments, and orders for trunnion spherical bearings. Due to the economic downturn caused by the pandemic, several construction and infrastructure projects were delayed or canceled. These projects often require trunnion spherical bearings, and the postponements had a direct impact on the demand for these bearings.

LATEST TRENDS

"Shift towards Lightweight Materials to Augment the Market Growth"

Trunnion spherical bearings are widely used in the automotive industry, particularly in steering systems and suspension components. The increasing demand for vehicles and advancements in automotive technology were driving the growth of this market. Trunnion spherical bearings find applications in various industrial sectors, such as construction, mining, and manufacturing. The growing industrialization and infrastructure development globally were contributing to the increased demand for trunnion spherical bearings. Manufacturers were focusing on product innovation to enhance the performance and durability of trunnion spherical bearings. This involved the development of advanced materials, improved sealing mechanisms, and better lubrication systems to extend the lifespan and reduce maintenance requirements. There was a trend towards the use of lightweight materials in trunnion spherical bearings, such as high-strength composites and alloys. This shift aimed to reduce the overall weight of machinery and improve fuel efficiency in the case of automotive applications.

Trunnion Spherical Bearings Market Segmentation

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• By Type Analysis

By type, market is segmented into split spherical roller bearings and non-split bearings. The split spherical roller bearings type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into helicopters, twin-aisle aircraft, single-aisle aircraft and regional aircraft. The helicopters segment will lead the global share through 2031.

DRIVING FACTORS

"Growing Infrastructure Projects to Push the Market"

he growing industrial sector across various regions is driving the demand for trunnion spherical bearings. These bearings are widely used in heavy machinery, automotive, construction, and other industrial applications, where they provide reliable support and rotational movement. As industrialization continues to expand, the demand for trunnion spherical bearings is expected to rise. Infrastructure development, such as construction of bridges, tunnels, dams, and buildings, requires heavy machinery and equipment that rely on trunnion spherical bearings. With the increasing number of infrastructure projects globally, the demand for these bearings is expected to grow significantly. The automotive industry is a major consumer of trunnion spherical bearings. With the expanding global automotive production and the increasing demand for vehicles, the need for trunnion spherical bearings for applications such as suspension systems, steering linkages, and drivetrain components is also increasing.

"Increasing Demand for Renewable Energy to Boost the Market Demands"

Continuous advancements in bearing technologies have led to the development of high-performance trunnion spherical bearings with improved durability, load capacity, and reduced friction. These advancements have expanded the application areas for trunnion spherical bearings and have fueled their demand in various industries. The renewable energy sector, including wind and solar power generation, relies on heavy machinery and equipment that require trunnion spherical bearings. The shift towards clean energy sources and the growing installation of wind turbines and solar panels worldwide are driving the demand for these bearings. The aftermarket sales of trunnion spherical bearings, including replacements and repairs, contribute to the market's growth. As industrial machinery and equipment age or experience wear and tear, the need for bearing replacements arises, creating a steady demand in the aftermarket.

RESTRAINING FACTORS

"Competition from Alternative Bearings to Slow the Market Growth "

Trunnion spherical bearings are primarily used in heavy-duty industrial applications such as construction, mining, and transportation. The limited application scope restricts their market potential compared to more versatile bearing types, which can be used across various industries. Trunnion spherical bearings face competition from other types of bearings such as ball bearings, roller bearings, and plain bearings. These alternatives may offer similar performance characteristics at a lower cost or with greater availability, reducing the demand for trunnion spherical bearings. Rapid technological advancements in the bearing industry can pose challenges to trunnion spherical bearings. Newer bearing technologies with improved performance, durability, and efficiency may emerge, making trunnion spherical bearings less attractive in comparison.

Trunnion Spherical Bearings Market REGIONAL INSIGHTS

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"European Market to Grow Exponentially with the Forecasted Period"

Trunnion spherical bearings are specialized components used in various industries, including automotive, aerospace, industrial machinery, and defense. These bearings provide rotational movement and axial alignment capabilities, making them essential in applications where there is a need for smooth and precise movement. The North American market, particularly the United States, has a strong presence in the bearings industry. The region is home to several prominent automotive and aerospace manufacturers, which drive the demand for trunnion spherical bearings. Additionally, the presence of a robust industrial sector contributes to the market growth.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• GE (U.S.)
• Pratt & Whitney (U.S.)
• Rockwell (U.S.)
• KHI (Japan)
• Safran (French)
• Avio Aero (Italy)
• IHI Corporation (Japan)
• AST Bearings LLC (U.S.)
• Thomson (U.S.)
• NTN (Japan)
• NSK (Japan)
• Schaeffler (Germany)
• SKF (Sweden)
• ILJIN (Korea)
• JTEKT (Japan)
• TIMKEN (U.S.)
• GMB Corporation (Japan)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.