Railway Sliding Bearing Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Railway Sliding Bearing Market Analysis
The railway sliding bearing market is anticipated to register a CAGR of about 6%, during the forecast period (2020 - 2025).
- Railway fares are on the lower side compared to other modes of transport, so more people are opting for rail travel than other modes of transport. Due to increased CO2 emissions and atmospheric pollutants, people are moving towards public transport instead of private vehicles. In developed nations like UK also Wales experienced 11-year high growth in railway passenger numbers. Railway stations in Wales experienced a rise of about 40% passengers in year 2018-19. Cardiff Central was the busiest station in the country, with 14,204,684 entries and exits, a rise of more than 1.2 million compared with the previous year. The Welsh government had to introduce additional trains to accommodate the passengers.
- With the growing population and increasing use of public transport in countries like China and India, Asia- pacific region is expected to be the dominating market during the forecast period. For instance, the Chinese government has invested approximately USD 148 billion to deploy more metros in the cities of Baotou, Urumqi, and Xiamen. Similar kind of efforts are observed in other Asian countries such as India, Japan, and Thailand. These projects will drive the demand of sliding bearings as new engines and bogies will be required for these projects.
Railway Sliding Bearing Market Trends
This section covers the major market trends shaping the Railway Sliding Bearing Market according to our research experts:
Government Spending to Upgrade Railway Network will be a Growth Driver
Governments from all around the world are spending a lot of money on upgrading the existing rail infrastructure. For instance, according to NITI Aayog, the capital expenditure by Indian government on railways grew from USD 7.4 billion in 2018 to USD 10 billion in 2019 (40% growth). By the end of 2025, 15 new cities in India are expected to have metro trains. Currently, there are 10 cities in India with metro rail service. According to international union of Railways, China dominates the construction of railway tracks, as China is developing its high-speed rail network on a very rapid scale.
Asia-pacific is Expected to be the Global Leader
With very high government spending in the sector and growing railway network in China and India, Asia- pacific is expected to be the largest market for railway sliding bearing. The India government is looking at privatization of railways. With introduction of new trains such as the Tejas express, there will be new train bogies and engine requirements in the country which will drive the demand for sliding bearings. It is expected that during the forecast period around 150 private trains will be deployed in India which will have around 2400 bogies, these bogies and engines will drive the demand for sliding bearings.
Railway Sliding Bearing Industry Overview
The railway sliding bearing market is relatively concentrated, with mainly dominated by some of the major players, such as SKF, Schaeffler, NTN, Fujian longxi etc., of which, SKF, Schaeffler and NTN, holding a significant market share of the Railway Sliding Bearing market, globally.
The companies are making new strategic partnerships, investing majorly in R&D projects and launching new products in the market for being ahead of their rivalries. For instance, SKF integrated with Siemens' Railigent application suite and MindSphere internet of things system.
Railway Sliding Bearing Market Leaders
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AB SKF
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Schaeffler AG
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NTN Corporation
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The Timken Company
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GGB
*Disclaimer: Major Players sorted in no particular order
Railway Sliding Bearing Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Bearing Type
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5.1.1 Thrust
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5.1.2 Radial
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5.1.3 Others
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5.2 Application
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5.2.1 Engine
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5.2.2 Brake
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5.2.3 Bogie
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5.2.4 Others
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Rest of North America
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Rest of Europe
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5.3.3 Asia Pacific
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5.3.3.1 India
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5.3.3.2 China
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5.3.3.3 Japan
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5.3.3.4 South Korea
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5.3.3.5 Rest of Asia-Pacific
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5.3.4 Rest of the World
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5.3.4.1 Brazil
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5.3.4.2 Mexico
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5.3.4.3 United Arab Emirates
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5.3.4.4 Other Countries
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 AB SKF
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6.2.2 Schaeffler AG
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6.2.3 NTN corporation
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6.2.4 The Timken Company
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6.2.5 GGB
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6.2.6 THK Company
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6.2.7 MinebeaMitsumi Inc.
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6.2.8 RBC Bearings Incorporated
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6.2.9 NSK Motion & Control
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6.2.10 Fujian longxi Bearing Company Limited
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Railway Sliding Bearing Industry Segmentation
The railway sliding bearing market covers the latest trends and technological development in the sliding bearing market, demand of the type (Thrust, Radial and Others) application (Engine, Brake, Bogie and others), and geography.
| Bearing Type | |
| Thrust | |
| Radial | |
| Others |
| Application | |
| Engine | |
| Brake | |
| Bogie | |
| Others |
| Geography | |||||||
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Railway Sliding Bearing Market Research FAQs
What is the current Railway Sliding Bearing Market size?
The Railway Sliding Bearing Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Railway Sliding Bearing Market?
AB SKF, Schaeffler AG, NTN Corporation, The Timken Company and GGB are the major companies operating in the Railway Sliding Bearing Market.
Which is the fastest growing region in Railway Sliding Bearing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Railway Sliding Bearing Market?
In 2024, the Asia Pacific accounts for the largest market share in Railway Sliding Bearing Market.
What years does this Railway Sliding Bearing Market cover?
The report covers the Railway Sliding Bearing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Railway Sliding Bearing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Railway Sliding Bearing Industry Report
Statistics for the 2024 Railway Sliding Bearing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Railway Sliding Bearing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
