Indonesia Bearings Market (2023-2029) | Growth, Analysis, Trends, Industry, Share, Revenue, Value, Outlook, Size, Segmentation & COVID-19 IMPACT

Indonesia Bearings Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Other Asia, nes. It has registered a growth of 48.31% over the previous year. While Other Asia, nes registered a growth of 197.32% as compared to the previous year. In the year 2017 Other Asia, nes was the largest exporter followed by China. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Indonesia has a Herfindahl index of 2997 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  2349 which signifies moderately concentrated in the market.

Topics Covered in the Indonesia Bearings Market Report

The Indonesia 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.

Indonesia Bearings Market Synopsis

The Indonesia Bearings Market is estimated to grow at a tremendous growth rate during the forecast period. Rising industrialization since more manufacturing sectors are emerging across the nation and the growth in infrastructure developments like airports, seaports, and power plants contribute to the growth of this industry.

According to 6Wresearch, Indonesia Bearings Market size is projected to expand significantly during 2023-2029. Growing industrialization is the major reason behind the market growth since more manufacturing industries are emerging across the nation, which gives a boost to the market. Growth in infrastructure developments like airports, seaports, and power plants contribute to the growth of this industry and also support Indonesia Bearings Market Growth. There has been a rise in demand for the bearings which are used in the parts of cars like engines and wheels with the rising automotive sector. Besides this, technological advancements have led to the development of new kinds of bearings that are efficient as compared to their predecessors. Government initiatives that aim to boost the manufacturing industry via incentives such as tax breaks have created a favorable environment for businesses operating in this space. This market is a major part of the Asia Pacific Bearings Market, which also helps in its growth. Rising awareness among consumers regarding sustainable practices has pushed manufacturers towards eco-friendly materials while producing bearings that are of high quality. Lack of government regulations and rising competition from low-cost imports are the challenges hindering the Indonesia Bearings Market Share.

COVID-19 Impact on Indonesia Bearings Market

The pandemic affected the Bearings Market in Indonesia the way it affected other markets across the globe. The demand for bearings was hindered by reduced manufacturing activities and supply chain disruptions owing to the strict lockdown imposed in the nation. Numerous companies were forced to stop their operations which led to a reduction in demand for bearings and resulted in lower sales revenue as well as volume. The demand for bearings also decreased from the automotive sector which is one of the most prominent consumers of bearings in the country and it affected the growth of the market significantly. The market is now rising well and it will rise more in the years to come.

Key Players in the Indonesia Bearings Market

The players in the Bearings Market in Indonesia are responsible for driving competition and innovation, which benefits consumers. Some major players exist in the market are Schaeffler AG, SKF Group, NTN Corporation, JTEKT Corporation, Timken Company, Nachi-Fujikoshi Corp., NSK Ltd., MinebeaMitsumi Inc., THK Co. Ltd., and RBC Bearings Incorporated. These players run across many sectors including aerospace engineering, construction equipment production, and automotive manufacturing. These companies are investing in research and development activities that aim to enhance efficiency and product quality while reducing costs.

Market by Product

On the basis of product, the sector is divided into Ball Bearings and Roller Bearings. The roller bearings segment is estimated to rule the market in the coming years and the similar segment accounted for the largest revenue share of the market in the past few years.

Market by Application

According to Parth, Senior Research Analyst, 6Wresearch, the automotive market is projected to grow owing to the fact that it is the biggest consumer of bearings.

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

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