What is the Market Share of NSK Bearings?
NSK bearings are one of the most popular and widely used types of bearings in the world. Founded in Japan in 1916, the company has since expanded its operations globally, producing a wide range of bearings for various industries, including automotive, industrial machinery, and electronics.
Market Share of NSK Bearings
According to a report by ResearchAndMarkets.com, the global market for bearings was valued at USD 100.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. Among the key players in the global bearings market, NSK Corporation is one of the leading companies.
In terms of market share, NSK Corporation accounted for 6.9% of the global bearings market in 2020, making it the third-largest player in the market after SKF and Schaeffler. The company’s revenue from the bearings business segment in the fiscal year 2020 was JPY 532.1 billion (approximately USD 4.9 billion), representing an increase of 2.8% compared to the previous year.
NSK Bearings in the Automotive Industry
NSK bearings are widely used in the automotive industry, where they are utilized in a wide range of applications, including engine components, powertrain, steering systems, and suspension systems. The demand for NSK bearings in the automotive industry is driven by the increasing production of vehicles and the growing trend towards electric and hybrid vehicles.
In the fiscal year 2020, NSK’s revenue from the automotive business segment was JPY 345.3 billion (approximately USD 3.2 billion), representing a decrease of 5.5% compared to the previous year. However, the company expects to see growth in the automotive segment in the coming years as the demand for electric and hybrid vehicles continues to increase.
NSK Bearings in the Industrial Machinery and Electronics Industries
NSK bearings are also widely used in the industrial machinery and electronics industries, where they are used in a variety of applications, including machine tools, robotics, and semiconductor manufacturing equipment. The demand for NSK bearings in these industries is driven by the increasing automation of manufacturing processes and the growing adoption of Industry 4.0 technologies.
In the fiscal year 2020, NSK’s revenue from the industrial machinery and electronics business segment was JPY 131.7 billion (approximately USD 1.2 billion), representing an increase of 6.7% compared to the previous year.
Conclusion
NSK Corporation is one of the leading players in the global bearings market, with a market share of 6.9% in 2020. The company’s revenue from the bearings business segment in the fiscal year 2020 was JPY 532.1 billion (approximately USD 4.9 billion). NSK bearings are widely used in the automotive, industrial machinery, and electronics industries, and the company expects to see growth in these segments in the coming years.
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