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Railway Bearing Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Roller Bearing, Ball Bearing, Plain bearing, and Others), By Train Type (High-Speed Trains, Metro Trains, Monorails, and Others), By Applications (Engines, Wheels, Exterior, and Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI108052 | Status : Ongoing

 

KEY MARKET INSIGHTS

The railway-bearing market has been experiencing significant growth in recent years and is poised to continue expanding in the coming years. Railway bearings play a critical role in ensuring smooth train operation and the safety of freight and passengers by reducing friction between moving components. One of the key factors driving growth for the railway-bearing market is the rapid expansion of Rail networks worldwide. Governments are investing heavily in railway infrastructure to meet growing urban and intercity travel demand. This has led to the upgradation of tracks and expansion of railway coaches to ensure high-speed as well as safe operations of trains.


Additionally, enhancing consumer comfort and reducing maintenance costs has led to demand for highly efficient roller bearings with great vibration-bearing capacity growth. Moreover, these bearings have a longer service life and require minimum maintenance leading to cost saving for railway departments. The railway-bearing market will surge as the demand for efficient and reliable transportation increases.

Impact of COVID-19 on the Railway Bearing Market


COVID-19 significantly impacted various industries, including the railway-bearing market. The pandemic led to disruption in global supply chain management, reduced demand for transportation services, and challenges in the production and distribution process. During the initial phases of the pandemic, many countries implemented strict restrictions on movement, including passenger railways and freight transportation. As a result, railway operations were scaled back, leading to decreased demand for railway bearings, and the concern regarding the transmission of the virus through service raised safety issues in railway maintenance facilities.

These concerns impacted the willingness of railway operators and governments to undergo maintenance activities, impacting the revenue of railway-bearing manufacturers. Post-pandemic, as the market adjusted to a new way of working, government and transportation authorities implemented measures to revive the railway sector. As Covid-19 also highlighted the performance and safety of these trains. As a result, there has been a renewed focus on railway maintenance, including replacement bearings, making sales and demand in the railway bearing market.

Key Insights


The report will cover the following key insights:


  • Key Industry Developments – Mergers, Acquisitions, and Partnerships.

  • Porter's Five Forces Analysis.

  • Technological Developments.

  • Impact of COVID-19 on the Railway Gears Market.


Analysis by Train Type and Product Type


The train type segment includes High-Speed Trains, Metro Trains, and Monorails. Railway Bearing provides operators with various bearing options based on their needs. High-speed train bearings will see significant growth in the upcoming years globally due to their requirement for advanced bearings that can withstand high speeds and provide smooth operation, efficiency, and comfort to passengers. They are also gaining significant popularity worldwide due to their ability to transport passengers quickly over long distances.

On the other hand, The roller bearings market is most used in railway applications due to its ability to handle high axial and radial loads. These bearings are suitable for heavy-duty freights and passenger trains and locomotives. The growth in this segment will be driven by the expansion of networks and the reliability of bearings through high-quality production by manufacturers.

Analysis by Applications


The bearings used in the wheels play a significant role in ensuring smooth and reliable train operations. The growth of this segment is closely tied to the expansion and modernization of railway networks. As new rail lines are constructed, and existing tracks are upgraded, wheels will be highly demanded. The growth in high-speed rail networks, urban rail transit, and freight transportation will increase the demand for wheel bearings.

Analysis by Region


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The highest growth rate is expected in the Asia Pacific market, especially India, because India is projected to account for most of the global share of rail activity by 2050. Other South East Asian countries follow the same path due to having major government operators of railways like JRTT Japan and China Railways, which needs these bearing for general and regular service interval and maintenance. Furthermore, urbanization, rising disposable income, interest in convenient transportation, reduced railway maintenance cost  and bearing manufacturing affordability are expected to set market on high growth potential and boost regional growth.

Key Players Covered


SKF AB (Sweden), Schaeffler Group (Germany), NSK Limited (Japan), JTEKT Corporation (Japan), NKE Austria GmbH (Austria), NEI Ltd (India), Timken Company (U.S), RBC Bearing Inc. (U.S).

Segmentation


















By Train Type


By Product Type


By Applications


By Region



  • High-Speed Trains

  • Metro Trains

  • Monorails

  • Others




  • Roller Bearing

  • Ball Bearing

  • Plain bearing

  • Others




  • Engines

  • Wheels

  • Exterior

  • Others




  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, and the Rest of Europe)

  • Asia Pacific (India, China, Japan).

  • Middle East and Latin America



Key Industry Developments 



  • November 2022: SKF India launched innovative products and solutions for the railway industry at InnoRail India at Research Designs and Standards Organization (RDSO) in Lucknow. Aiming to help railway freight operators and rolling stock manufacturers improve fleet efficiency, increase reliability and reduce the total cost of manufacturing and owing.

  • July 2022: SKF Malaysia announced the launch of the first railway remanufacturing service center to address the maintenance and service needs of the growing railway sector in Southeast Asia and help them capitalize on the benefits of low-cost manufacturing.

  • September 2022: Timken announced that it would acquire GGB Bearing Technology. This acquisition provides strong partnerships and expands Timken's business by adding complementary products with a solid growth outlook.





  • Ongoing
  • 2023
  • 2019-2022

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