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

Argentina Bearings Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Thailand. It has registered a growth of 61.89% over the previous year. While Thailand registered a growth of 93.26% as compared to the previous year. In the year 2017, Brazil was the largest exporter followed by China. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Argentina has a Herfindahl index of 970 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of  1043 which signifies high competitiveness in the market.

Argentina Bearings Market - Export Market Opportunities

Topics Covered in the Argentina Bearings Market Report

The Argentina 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.

Argentina Bearings Market Synopsis

The Argentina Bearings Market is anticipated to grow massively during the forecast period on account of many factors like rising demand for efficient and reliable bearing solutions for many applications across industries like construction, oil & gas, mining, and agriculture.

According to 6Wresearch, Argentina Bearings Market size is projected to expand significantly during 2023-2029. The market is one of the prominent markets in the world and is driven by the rising demand for bearing solutions that are efficient and reliable and which is applicable in a number of industries such as oil & gas, mining, agriculture, and construction. Government initiatives that aim to promote local manufacturing are also contributing to the Argentina Bearings Market Growth. Increasing adoption of automation technologies like CNC machines and robotics has further stimulated the requirement for precision-engineered bearings which are able to withstand heavy loads as well as run at a high speed. Growing demand for bearings from the automotive sector is also driving the market. The sales and production of vehicles have been rising which is creating a major opportunity for the manufacturers of bearings. The sector is facing certain challenges and the slow economic growth of the nation is the one significant challenge for the market. Rising competition from cheaper imports from nations such as India and China is hampering the Argentina Bearings Market Share.

COVID-19 Impact on Argentina Bearings Market

The Argentina Bearings Industry was affected significantly during the pandemic on the back of the strict lockdown imposed by the government of the country to limit the virus spread for the sake of its people. The market is a prominent part of the Latin America Bearings Market. The economic slowdown of the country, coupled with decrease demand from major end-use sectors like aerospace, and automotive, resulted in a reduction in demand for bearings sales. There were delays in shipments of components and raw materials needed for bearing production, which halted the Argentina Bearings Market progression. The shift towards online working methods fuelled the demand for online purchases, which boosted the e-commerce sales of bearings. In addition to this, players in the market adapted to new safety protocols quickly and implemented virtual technologies in order to streamline their processes as well as decrease physical contact among workers.

Argentina Bearings Market: Key Players

There are many companies that have a strong presence in the market and that are helping the market to grow smoothly and efficiently. These companies include Timken Company, NSK Ltd., Schaeffler AG, NTN Corporation, and SKF Group. These players are able to maintain their position in the market by investing in research & development activities and they also focus on increasing their product portfolio in order to cater to diverse customer requirements. These companies play a crucial role in the progression of the market.

Market by Product

According to Shivankar, Research Manager, 6Wresearch, it is the roller bearing segment that is dominating the market. The segment will keep dominating the market in the years to come.

Market by Application

The automotive segment out of other segments is growing in the market and it is estimated to rise more in the near future.

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:

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

Market Scope and Segmentation

Thereportprovides 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