Australia Bearings Market (2024-2030) | Growth, Analysis, Trends, Value, Outlook, Industry, Share, Forecast, Size, Segmentation & COVID-19 IMPACT

Market Forecast By Product (Ball Bearing, Roller Bearing, Bearing Units), By Roller Bearing Type  (Taper Roller Bearings, Spherical Roller Bearings, Cylindrical Roller Bearings, Needle Rollers Bearings, Others), By Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace, Automotive Aftermarket, Others), And Competitive Landscape

Product Code: ETC283895 Publication Date: Dec 2024 Updated Date: Dec 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 73 No. of Figures: 13 No. of Tables: 7

Australia Bearings Market Competition 2023

Australia Bearings market currently, in 2023, has witnessed an HHI of 1574, Which has decreased slightly as compared to the HHI of 1707 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Australia Bearings Market Competition 2023

Australia Export Potential Assessment For Bearings Market (Values in USD Thousand)


topic

Topics Covered in Australia Bearings Market Report

Australia Bearings Market Report thoroughly covers the market by Product Type, Roller Bearing Type and Application. Australia Bearings Market Outlook report provides an unbiased and detailed analysis of the ongoing Australia Bearings Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.

Australia Bearings Market Synopsis

Australia bearings market witnessed significant growth, fueled by substantial investments across key sectors such as construction, automotive, and mining. Infrastructure development has been a major driver of this expansion, bolstered by a $647 billion allocation to residential, commercial, and industrial projects. With 5,500 projects in the pipeline, these initiatives account for 57% of the total construction market projected between 2021-22 and 2025-26. Additionally, Upcoming Major Construction Projects ~$608 360 Queen Street Office Tower expected to be completed by 2025 and $2200 Ivanhoe Estate Town Centre 2024-2025, further underscoring the sector's dynamic growth.

Australia Bearings Market OverviewAccording to 6Wresearch, Australia Bearings Market is projected to grow at a CAGR of 6.1% from 2024-2030F. This expected growth is fueled by strategic investments in the automotive industry, particularly in clean energy, along with the mining sector. With 21.17 million registered vehicles in Australia as of January 2023 and increasing interest in electric vehicles (EVs), demand for specialized bearings for electric powertrains is rising. The shift toward electric and hybrid vehicle production, supported by the Australian Government’s National Electric Vehicle Strategy, further drives growth.

Australia Bearings Market Segmentation

Additionally, Australia's increasing investments in the mining sector are also driving growth, with $11.5 billion invested in the March quarter of 2024, reflecting a 6% increase from 2023. This is further supported by upcoming projects such as the $3.5 billion Phosphate Project, expected to be completed by 2027, as well as the $1.9 billion Hawsons Iron Project and the $1.2 billion Kalgoorlie Nickel Project, both set to finish by 2025. These developments are positively impacting the Australian bearings market. Furthermore, Australia's commitment to a cleaner energy transition, with over $65 billion allocated through the Capacity Investment Scheme by 2030, along with the Australian Infrastructure Plan (2021–2036), would accelerate infrastructure and energy development. Collectively, these elements foster an ideal landscape for the growth of bearings industry in Australia , positioning the market for sustained growth in the coming years.

Market Segmentation By Product Type

Roller bearings are anticipated to experience the highest growth in the Australian bearings market in coming years due to their superior load-carrying capacity and widespread use across industries such as mining, automotive, and manufacturing.

Market Segmentation By Roller Bearing Type

In the coming years, Needle Roller Bearings are anticipated to experience the highest growth owing to their compact design, which enhances efficiency in space-constrained applications. Additionally, the rising demand for high-performance, lightweight solutions, particularly in the Renewable Energy and automotive sectors, is expected to further drive the growth of Needle Roller Bearings.

Market Segmentation By Application

The manufacturing sector in Australia offers the highest growth opportunity for bearings due to its ongoing shift towards high-tech, precision-driven operations. With the rise of Industry 4.0, there is an increasing need for specialized bearings to support automated systems, reduce downtime, and maintain the performance of advanced machinery in diverse industrial applications.

Australia Bearings Market Opportunity Assessment

Key Attractiveness of the Report

  • 10 Years Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year: 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Australia Bearings Market Overview
  • Australia Bearings Market Outlook
  • Australia Bearings Market Forecast
  • Industry Life Cycle
  • Porter’s Five Forces Analysis
  • Historical Data and Forecast of Australia Bearings Market Revenues for the Period 2020-2030F
  • Historical Data and Forecast of Australia Bearings Market Revenues, By Product Types, for the Period 2020-2030F
  • Historical Data and Forecast of Australia Bearings Market Revenues, By  Roller Bearing Type, for the Period 2020-2030F
  • Historical Data and Forecast of Australia Bearings Market Revenues, By Application, for the Period 2020-2030F
  • Market Drivers and Restraints
  • Market Trends
  • Market Opportunity Assessment
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product Types

  • Ball Bearing
  • Roller Bearing
  • Bearing Units

By Roller Bearing Type

  • Taper Roller Bearings
  • Spherical Roller Bearings
  • Cylindrical Roller Bearings
  • Needle Rollers Bearings
  • Others

By Application

  • Mining & Construction
  • Agriculture
  • Food Industries
  • Steel Industries
  • Paper & Pulp
  • Cement
  • Manufacturing
Australia Bearings Market: FAQs
Australia Bearings Market is projected to grow at a CAGR of 6.1% from 2024-2030F
Australia bearings market witnessed significant growth, fuelled by substantial investments across key sectors such as construction, automotive, and mining.
The Australia bearings market is significantly impacted by the volatility of raw materials such as steel and specialty alloys.
Australia Bearings Market Report thoroughly covers the market by Product Type, Roller Bearing Type and Application.
1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights of the Report
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
3. Australia Bearings Market Overview
3.1. Australia Bearings Market Revenues, 2020-2030F
3.2. Australia Bearings Market – Industry Life Cycle
3.3. Australia Bearings Market – Porter’s Five Forces
4. Australia Bearings Market Dynamics
4.1. Impact Analysis
4.2. Market Drivers
4.3. Market Restraints
5. Australia Bearings Market Trends & Evolution
6. Australia Bearings Market Overview, By Product Types
6.1. Australia Bearings Market Revenue share, By Product Types, 2023 & 2030F
6.1.1 Australia Bearings Market Revenue Share and Revenues, By Ball Bearing, 2020-2030F
6.1.2 Australia Bearings Market Revenue Share and Revenues, By Roller Bearing, 2020-2030F
6.1.3 Australia Bearings Market Revenue Share and Revenues, By Bearing Units, 2020-2030F
7. Australia Bearings Market Overview, By Roller Bearing Type
7.1. Australia Bearings Market Revenue Share, By Roller Bearing Type, 2023 & 2030F
7.1.1 Australia Bearings Market Revenue Share and Revenues, By Taper Roller Bearings, 2020-2030F
7.1.2 Australia Bearings Market Revenue Share and Revenues, By Spherical Roller Bearings, 2020-2030F
7.1.3 Australia Bearings Market Revenue Share and Revenues, By Cylindrical Roller Bearings, 2020-2030F
7.1.4 Australia Bearings Market Revenue Share and Revenues, By Needle Rollers Bearings, 2020-2030F
7.1.5 Australia Bearings Market Revenue Share and Revenues, By Others, 2020-2030F
8. Australia Bearings Market Overview, By Application
8.1. Australia Bearings Market Revenue Share, By Application, 2023 & 2030F
8.1.1 Australia Bearings Market Revenue Share and Revenues, By Mining & Construction, 2020-2030F
8.1.2 Australia Bearings Market Revenue Share and Revenues, By Agriculture, 2020-2030F
8.1.3 Australia Bearings Market Revenue Share and Revenues, By Food Industries, 2020-2030F
8.1.4 Australia Bearings Market Revenue Share and Revenues, By Steel Industries, 2020-2030F
8.1.5 Australia Bearings Market Revenue Share and Revenues, By Paper & pulp, 2020-2030F
8.1.6 Australia Bearings Market Revenue Share and Revenues, By Cement, 2020-2030F
8.1.7 Australia Bearings Market Revenue Share and Revenues, By Manufacturing, 2020-2030F
9. Australia Bearings Market Key Performance Indicators
10. Australia Bearings Market Opportunity Assessment
10.1 Australia Bearings Market Opportunity Assessment, By Product Types, 2030F
10.2 Australia Bearings Market Opportunity Assessment, By Roller Bearing Type, 2030F
10.3 Australia Bearings Market Opportunity Assessment, By Application, 2030F
11. Australia Bearings Market Competitive Landscape
11.1 Australia Bearings Market Revenue Share, By Top Companies (2023) 
11.2 Australia Bearings Market Competitive Benchmarking, By Technical Parameters
11.3 Australia Bearings Market Competitive Benchmarking, By Operating Parameters
12. Company Profiles
12.1 NSK Ltd.
12.2 NTN Corporation
12.3 SKF Group
12.4 The Timken Company
12.5 The Schaeffler Group
12.6 JTEKT Corporation
12.7 Regal Rexnord Corporation
12.8 IKO International
12.9 Nachi-Fujikoshi Corp
12.10 RBC Bearings
12.11 Galaxy Bearings Ltd.
12.12 Metatek Engineering
12.13 Asahi Seiko Co., Ltd.
13. Key Strategic Recommendations
14. Disclaimer
List of figures
1. Australia Bearings Market Revenues, 2020-2030F ($ Million)
2. Australia Number of Retail Under Construction Projects
3. Australia Bearings Market Revenue Share, By Product Types, 2023 & 2030F
4. Australia Bearings Market Revenue Share, By Roller Bearing Type, 2023 & 2030F
5. Australia Bearings Market Revenue Share, By Application, 2023 & 2030F
6. Australia Battery Electric Vehicles (BEVs) Sales, (H12023-H12024) (units)
7.Australia Monthly Vehicle Sales Distribution (June 2024)
8. Australia Automotive Sector Outlook, (2022-2023)
9. Australia Bearings Market Opportunity Assessment, By Product Types, 2030F
10.  Australia Bearings Market Opportunity Assessment, By Roller Bearing Type, 2030F
11.  Australia Bearings Market Opportunity Assessment, By Application, 2030F
12.  Australia Bearings Market Revenue Share, By Companies, 2023
13.  Electric Vehicle (BEVs, Plug in Hybrid EVs and PHEVs) Share in Australia (2022-2023)
List of tables
1. Australia Upcoming Major Construction Projects (2024-2025)
2. Australia Ongoing and Upcoming Major Rail Projects
3. Australia Key Upcoming Energy Projects
4. Australia Bearings Market Revenues, By Product Types, 2020-2030F ($ Million)
5. Australia Bearings Market Revenues, By Roller Bearing Type, 2020-2030F ($ Million)
6. Australia Bearings Market Revenues, By Application, 2020-2030F ($ Million)
7. Key Projects in Australia Mining Sector 
 

Market Forecast By Product (Ball Bearings, Roller Bearings), By Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace, Automotive Aftermarket, Others), And Competitive Landscape

Product Code: ETC283895 Publication Date: Aug 2022 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 35 No. of Tables: 20

Australia Bearings Market | Country-Wise Share and Competition Analysis

In the year 2021, the USA  was the largest exporter in terms of value, followed by Areas, nes. It has registered a growth of 2.68% over the previous year. While Areas, nes registered a growth of 95.34% as compared to the previous year. In the year 2017, the USA was the largest exporter followed by China. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Australia has the Herfindahl index of 2011 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  1752 which signifies moderately concentrated in the market.

Argentina Bearings Market | Country-Wise Share and Competition Analysis

Australia Bearings Market - Export Market OpportunitiesAustralia Bearings Market - Export Market OpportunitiesTopics Covered in Australia Bearings Market Report

The Australia Bearings Market report thoroughly covers the market by product and application. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Australia Bearings Market Synopsis

The Australia Bearings Market has significant in the country and it is expected to expand more in the upcoming years. The market is driven by many factors, including the rising demand for industrial machinery and automobiles. As these sectors continue to expand, there will be huge growth in the bearings market of Australia.

According to 6Wresearch, the Australia Bearings Market size is estimated to rise enormously during 2023-2029. There are many factors play a major role in the success of the market and these factors are the growth in demand for industrial machinery and automobiles, government initiatives to support the market, and technological advancements. The rise of sources of renewable energy is also a driver for the Australia Bearings Market Growth. These need specialized bearings which can endure severe weather conditions while offering consistent performance. One of the most essential drivers of the market is that it is one of the most prominent parts of the Asia Pacific Bearings market. There are certain challenges facing the market and these challenges. Competition from international manufacturers who provide lower-priced products as it makes it challenging for loyal players to compete on price alone as well as forces them to discover other ways to distinguish themselves in the marketplace is the major challenge facing the market. Environmental concerns led to strict regulations across manufacturing as well as disposal of some materials used in the production of bearings is another challenge.

COVID-19 Impact on Australia Bearings Market

The pandemic had a noteworthy impact on the Australia Bearings Market. The industry witnessed a sudden slowdown in demand on account of the halt in manufacturing activities as well as disruptions in supply chains. During the initial phase, most businesses were forced to either shut down or reduce their operations, which led to decreased production levels, and this resulted in lower demand for bearings from many end-user sectors like aerospace, automotive, and construction. However, with the slow lifting of restrictions in Australia and a rise in economic activity, there was a slight recovery observed within the industry. As industries resumed their operations as well as began restocking their inventory levels which were previously depleted during the lockdown.

Australia Bearings Market: Key Players

Some of the most prominent players that are aiding in the progression of the Bearings Market in Australia are:

  • Schaeffler AG.
  • SKF Group
  • NSK Ltd.
  • Timken Company
  • NTN Corporation
  • JTEKT Corporation
  • THK Co. Ltd.

These key players have dominance over the market and with their constant efforts by making strategies, they are playing a key role in the market progression.

Market by Product

According to Nitesh Kumar, Senior Research Analyst, 6Wresearch, the roller bearings segment has the largest dominance over the Australia Bearings Industry and this dominance will remain the same in the years to come.

Market by Application

The automotive segment by application has been dominating the market and it is estimated that the similar segment will remain dominant in the years to come.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2019 to 2022.
  • Base Year: 2022.
  • Forecast Data until 2029.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Australia Bearings Market Outlook
  • Market Size of Australia Bearings Market, 2022
  • Forecast of Australia Bearings Market, 2029
  • Historical Data and Forecast of Australia Bearings Revenues & Volume for the Period 2019 - 2029
  • Australia Bearings Market Trend Evolution
  • Australia Bearings Market Drivers and Challenges
  • Australia Bearings Price Trends
  • Australia Bearings Porter's Five Forces
  • Australia Bearings Industry Life Cycle
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Product for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Ball Bearings for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Roller Bearings for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Application for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Automotive for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Agriculture for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Electrical for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Mining & Construction for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Railway & Aerospace for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Automotive Aftermarket for the Period 2019 - 2029
  • Historical Data and Forecast of Australia Bearings Market Revenues & Volume By Others for the Period 2019 - 2029
  • Australia Bearings Import Export Trade Statistics
  • Market Opportunity Assessment By Product
  • Market Opportunity Assessment By Application
  • Australia Bearings Top Companies Market Share
  • Australia Bearings Competitive Benchmarking By Technical and Operational Parameters
  • Australia Bearings Company Profiles
  • Australia Bearings Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product

  • Ball Bearings
  • Roller Bearings

By Application

  • Automotive
  • Agriculture
  • Electrical
  • Mining & Construction
  • Railway & Aerospace
  • Automotive Aftermarket
  • Others
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