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Middle East & Africa Super Precision Bearing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type ( Angular Contact Ball Bearings, Cylindrical Roller Bearings, and Others ) and Application ( Spindles, High Speed Rolling Mills, Printing Machinery, Precision Ball Screw, Live Centers, High Speed Turbochargers, Vacuum Pumps, Automotive, Boat Gyrostabilizers, Semiconductor Industry, Textile Machinery, Medical & Dental, Measuring Machines, and Aviation & Defense)

April 2023 | 125 pages | ID: MCC726217F4FEN
The Insight Partners

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The Middle East & Africa super precision bearing market is expected to grow from US$ 479.04 million in 2022 to US$ 668.85 million by 2028. It is estimated to grow at a CAGR of 5.7% from 2022 to 2028.

Growing Next-gen and EV market Fuels Middle East & Africa Super Precision Bearing Market

There is a boom market for electric car vehicles. The market has an upward trend and will grow more in the coming future. But the rate at which it should grow is less. According to Forbes in December 2022, electric vehicle sales should reach 1 million in 2023 but due to high battery and a smaller number of charging infrastructure will restrict it growth in 2023. So, there is still a long way to go for EV market.

The introduction of innovations and advancements in the electric vehicle market has been rising across the region. Electric vehicle manufacturers are engaged in adopting bearings technologies to minimize the weight and maximize the strength of electric vehicles. For instance, in October 2022, Bianchi launched the Oltre RC “hyperbike,” which uses Reparto Corse RC50 and RC65 tubeless-ready wheels developed with super precision bearing technology for smooth performance. In addition, super precision bearing manufacturers are collaborating with the Next-gen car manufacturer to boost the car performance. For instance, in February 2022, SKF supplied its single-row sealed angular contact ball bearings based on the super-precision angular contact ball bearing to the NASCAR Next-gen car. This bearing helped the Next-gen car reduce friction, improve fuel mileage, and reduce CO2 emissions. Thus, super precision bearings are used in electric vehicles and Next-gen cars, and their demand is expected to grow with the rising electric vehicles and Next-gen car market in the coming years. The trend to use electric vehicles to reduce the dependency on fossil fuels such as petrol and diesel is rising. Thus, the growing Next-gen and electric vehicle market are expected to contribute to the Middle East & Africa super precision bearing market growth during the forecast period.

Middle East & Africa Super Precision Bearing Market Overview

The super precision bearing market in the Middle East & Africa (MEA) is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. The market growth in this region is attributed to the growing automotive industry. In automobiles, super precision bearings are used to improve the vehicle's performance so that it can support heavy loads, minimize friction rate, and increase the reliability of the vehicles. The production of commercial vehicles in the MEA is increasing steadily. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) 2021 report, South Africa produced 304,340 passenger vehicle units in 2021 and 246,541 units in 2020. In addition, according to the Turkish Automotive Manufacturers Association (OSD), the total vehicle sales in Turkey increased to 49,652 units in February 2022 from 38,131 units in January 2022. Therefore, the rise in total vehicle production and sales in these countries fuels the demand for super precision bearings in the market.

Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Super Precision Bearing Market Segmentation

The Middle East & Africa super precision bearing market is segmented into type, application and country.

Based on type, the Middle East & Africa super precision bearing market is segmented into angular contact ball bearings, cylindrical roller bearings, and others. The angular contact ball bearings segment held the largest share of the Middle East & Africa super precision bearing market in 2022.

Based on application, the Middle East & Africa super precision bearing market is segmented into spindles, high speed rolling mills, printing machinery, precision ball screw, live centers, high speed turbochargers, vacuum pumps, automotive, boat gyrostabilizers, semiconductor industry, textile machinery, medical & dental, measuring machines, and aviation & defense. The spindles segment held the largest share of the Middle East & Africa super precision bearing market in 2022.

Based on country, the Middle East & Africa super precision bearing market is segmented into South Africa and the Rest of Middle East & Africa. South Africa dominated the share of the Middle East & Africa super precision bearing market in 2022.

JTEKT Corp; NSK Ltd; Schaeffler AG; SKF AB; and The Timken Co are the leading companies operating in the Middle East & Africa super precision bearing market.
1. INTRODUCTION

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation

2. KEY TAKEAWAYS


3. RESEARCH METHODOLOGY

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. MIDDLE EAST & AFRICA SUPER PRECISION BEARING MARKET LANDSCAPE

4.1 Market Overview
4.2 PEST Analysis Middle East and Africa
4.3 Ecosystem Analysis
4.4 Expert Opinions

5. MIDDLE EAST & AFRICA SUPER PRECISION BEARING MARKET – KEY MARKET DYNAMICS

5.1 Market Drivers
5.1.1 Increasing Demand from Aerospace Industry
5.1.2 Rising Investment in Super Precision Bearing Production
5.2 Market Restraints
5.2.1 Growing Fluctuations in Prices of Raw Materials
5.3 Market Opportunities
5.3.1 Rising Awareness Regarding Super Precision Bearing
5.4 Future Trends
5.4.1 Growing Next-gen and EV market
5.5 Impact Analysis of Drivers And Restraints

6. SUPER PRECISION BEARING – MIDDLE EAST & AFRICA MARKET ANALYSIS

6.1 Middle East & Africa Super Precision Bearing Market Overview
6.2 Middle East & Africa Super Precision Bearing Market Revenue Forecast and Analysis

7. MIDDLE EAST & AFRICA SUPER PRECISION BEARING MARKET – BY TYPE

7.1 Overview
7.2 Middle East & Africa Super Precision Bearing Market, By Type (2020 and 2028)
7.3 Angular Contact Ball Bearings
7.3.1 Overview
7.3.2 Angular Contact Ball Bearings: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Cylindrical Roller Bearings
7.4.1 Overview
7.4.2 Cylindrical Roller Bearings: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)

8. MIDDLE EAST & AFRICA SUPER PRECISION BEARING MARKET ANALYSIS – BY APPLICATION

8.1 Overview
8.2 Middle East & Africa Super Precision Bearing Market, by Application (2021 and 2028)
8.3 Spindles
8.3.1 Overview
8.3.2 Spindles: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.3.2.1 Middle East & Africa Super Precision Bearing Market, by Spindles
8.4 High Speed Rolling Mills
8.4.1 Overview
8.4.2 High Speed Rolling Mills: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.5 Printing Machinery
8.5.1 Overview
8.5.2 Printing Machinery: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.6 Precision Ball Screw
8.6.1 Overview
8.6.2 Precision Ball Screw: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.7 Live Centers
8.7.1 Overview
8.7.2 Live Centers: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.8 High Speed Turbochargers
8.8.1 Overview
8.8.2 High Speed Turbochargers: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.9 Vacuum Pumps
8.9.1 Overview
8.9.2 Vacuum Pumps: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.10 Automotive
8.10.1 Overview
8.10.2 Automotive: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.10.2.1 Middle East & Africa Super Precision Bearing Market, by Automotive
8.11 Boat Gyrostabilizers
8.11.1 Overview
8.11.2 Boat Gyrostabilizers: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.12 Semiconductor Industry
8.12.1 Overview
8.12.2 Semiconductor Industry: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.13 Textile Machinery
8.13.1 Overview
8.13.2 Textile Machinery: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.14 Medical and Dental
8.14.1 Overview
8.14.2 Medical and Dental: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.15 Measuring Machines
8.15.1 Overview
8.15.2 Measuring Machines: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
8.16 Aviation and Defense
8.16.1 Overview
8.16.2 Aviation and Defense: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)

9. MIDDLE EAST & AFRICA SUPER PRECISION BEARING MARKET – COUNTRY ANALYSIS

9.1 Overview
9.1.1 Middle East & Africa Super Precision Bearing Market, by Key Country
9.1.1.1 South Africa: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 South Africa: Middle East & Africa Super Precision Bearing Market, by Type
9.1.1.1.2 South Africa: Middle East & Africa Super Precision Bearing Market, by Application
9.1.1.1.2.1 South Africa: Middle East & Africa Super Precision Bearing Market, by Spindles
9.1.1.1.2.2 South Africa: Middle East & Africa Super Precision Bearing Market, by Automotive
9.1.1.2 Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Type
9.1.1.2.2 Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Application
9.1.1.2.2.1 Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Spindles
9.1.1.2.2.2 Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Automotive

10. INDUSTRY LANDSCAPE

10.1 Overview
10.2 Market Initiative
10.3 Product Development
10.4 Mergers & Acquisitions

11. COMPANY PROFILES

11.1 SKF AB
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Schaeffler AG
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 JTEKT Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 The Timken Co
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 NSK Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments

12. APPENDIX

12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES

Table 1. Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Middle East & Africa Super Precision Bearing Market, by Spindles – Revenue and Forecast to 2028 (US$ Million)
Table 3. Middle East & Africa Super Precision Bearing Market, by Automotive – Revenue and Forecast to 2028 (US$ Million)
Table 4. Middle East & Africa Super Precision Bearing Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Middle East & Africa Super Precision Bearing Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. South Africa: Middle East & Africa Super Precision Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. South Africa: Middle East & Africa Super Precision Bearing Market, by Spindles – Revenue and Forecast to 2028 (US$ Million)
Table 8. South Africa: Middle East & Africa Super Precision Bearing Market, by Automotive – Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Spindles – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market, by Automotive – Revenue and Forecast to 2028 (US$ Million)
Table 13. List of Abbreviation
LIST OF FIGURES

Figure 1. Middle East & Africa Super Precision Bearing Market Segmentation
Figure 2. Middle East & Africa Super Precision Bearing Market Segmentation – By Country
Figure 3. Middle East & Africa Super Precision Bearing Market Overview
Figure 4. Middle East & Africa Super Precision Bearing Market, By Type
Figure 5. Middle East & Africa Super Precision Bearing Market, By Country
Figure 6. Middle East and Africa – PEST Analysis
Figure 7. Middle East & Africa Super Precision Bearing Market- Ecosystem Analysis
Figure 8. Middle East & Africa Super Precision Bearing Market Impact Analysis of Drivers and Restraints
Figure 9. Middle East & Africa Super Precision Bearing Market Revenue Forecast and Analysis (US$ Million)
Figure 10. Middle East & Africa Super Precision Bearing Market Revenue Share, by Type (2021 & 2028)
Figure 11. Angular Contact Ball Bearings: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Cylindrical Roller Bearings: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Others: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Middle East & Africa Super Precision Bearing Market Revenue Share, by Application (2021 & 2028)
Figure 15. Spindles: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. High Speed Rolling Mills: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Printing Machinery: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Precision Ball Screw: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Live Centers: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. High Speed Turbochargers: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Vacuum Pumps: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Automotive: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Boat Gyrostabilizers: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. Semiconductor Industry: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Textile Machinery: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Medical and Dental: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Measuring Machines: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Aviation and Defense: Middle East & Africa Super Precision Bearing Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Middle East & Africa Super Precision Bearing Market, by Key Country– Revenue (2021) (US$ Million)
Figure 30. Middle East & Africa Super Precision Bearing Market Revenue Share, by Key Country (2021 & 2028)
Figure 31. South Africa: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of Middle East & Africa: Middle East & Africa Super Precision Bearing Market – Revenue and Forecast to 2028 (US$ Million)


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