UAE Bearing Market Research Report, 2027

UAE Bearing Market Research Report, 2027

Actual Market Research 06-08-2022 62 Pages Figures : 6 Tables : 19 Region : MEA Country : United Arab Emirates Category : Manufacturing & Industry Machinery, Parts & Equipment

All types of machinery, including but not limited to automobiles, aircraft, industrial machinery, turbines, and even satellites orbiting far in space, depend on bearings as an essential part. The market value of low-friction bearings is rising as demand increases. By utilising simulation and artificial intelligence to increase growth and evaluation efficiency, bearings are becoming more vital throughout the UAE. Additionally, massive bearings make every effort to support the necessary motion by developing cutting-edge innovations like sensor bearings, IoT-related bearings, etc. Every industry, including automotives, industrial machines, hydrogen, and others, is seeing a growth in the use of bearings. Key shaft bearings for wind turbines are growing in size as wind turbines grow in size, which is related to the core products. The development of industrial technologies, such as sophisticated, effective heat treatment technology, is crucial. With the development of renewable energy, efforts to reach carbon neutrality and a decarbonized civilization are growing. Because they are essential parts of renewable energy sources, rolling bearings Additionally, Schaeffler's spherical roller bearings have already played a vital role in a number of well-known wave and tidal energy systems in Europe, including the Pelamis P2 wave energy converter. In the UAE region, new bearing designs can be industrialised and customised to meet particular wind turbine requirements. According to the research report titled, "UAE Bearing Market Research Report, 2027", published by Actual Market Research, the market in the UAE was valued at almost USD 0.7 billion in the year of 2021 and had a CAGR of around 5% in the same year. This market is bifurcated into many different segments according to various criteria. These are with respect to the product type, by application, and according to the distribution channels. The product type segment consists of ball bearings, roller bearings, plain bearings and other segments which include specialised bearings like magnetic, fluid, disc, etc. All of these bearings have different functions they perform and are used accordingly. The ball bearing segment is the largest segment in the market which makes use of spherical rolling elements between its races. Races in this context refer to the two components which act as sliding rings with grooves, in some cases, which use rolling elements of different kinds. Ball bearings as mechanisms provide the necessary motion required with a rather simple working procedure, which is why they are so commonly used. This is the reason the segment was able to garner around 45% of the total market share in the country. This trend is also seen in the global market for the same reasons. By the application they are used for, the bearing market is segmented into four major categories, which are the automobile sector, industrial sector, aerospace sector, and the other sector, which includes railways, agriculture, and energy. The energy sector, which produces electrical energy through various methods like coal, turbines and hydroelectricity, widely uses bearings in their pumps, compressors and motors. The UAE established the energy strategy 2050 in which the country is looking to increase the contribution of clean energy mix, which is currently around 25%, and aims to increase this to about 50% by the year 2050. This will help the country reduce its carbon footprint of power generation by 70% and also save them around 700 billion by the same year. This shift in the sector, which majorly will be going to wind and solar energy, uses bearings of some sort in the mechanism. The turbines used in windmills use ball bearings, and the solar energy sector has recently started using solar tracking methods that use bearings in the mechanism. These bearings are distributed through two channels: the OEM channel, which is the original equipment manufacturing, and the aftermarket channel. The OEM channel accounts for the majority of the market, accounting for approximately 80% of the total market in the UAE, a trend that is followed in other Middle Eastern countries, and is comparatively around 8% higher than other markets globally in the bearing sector. The OEM channel entails producing the bearings for use in other products for the end user. This means using bearings for the production of machineries, automobiles, bicycles, and some domestic products. The factors boosting the bearings market in the country of the UAE are the adoption of renewable energy, an increase in exports to other countries, the use of lightweight materials in high performance products, and advancements in lubrication and seal technologies. The UAE exports the majority of the bearings to Libya, followed by Iran and, thirdly, the country of Saudi Arabia. On the other hand, the bearing market also had to face some obstacles which consisted of fluctuation in prices of the primary products like steel and metal, hindrance in supply chain of different materials, and the COVID-19 pandemic, which essentially affected the economy of the world, created a lack of sustained human resources, and uneven supply and demand in the market, which all affected the bearing market. Considered in this report Geography: United Arab Emirates Historic year: 2016 Base year: 2021 Estimated year: 2022 Forecast year: 2027 Aspects covered in this report UAE Bearing market with its value and forecast along with its segments Various drivers and challenges On-going trends and developments Top profiled companies Strategic recommendation By Product type in the report: Ball Bearing Roller Bearing Plain Bearing Others (Magnetic Bearing, Fluid Bearing, Disc Harrow Bearing, etc.) By Application type in the report: Automotive Industrial Aerospace Others (Railway, Agriculture, etc.) By Distribution channel in the report: Original equipment manufacturers (OEMs) Aftermarket The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to bearing industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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