At 4.7% CAGR, the South America Super Precision Bearing Market is projected to be worth US$ 231.60 million by 2028, says Business Market Insights

According to Business Market Insights research, the South America super precision bearing market was valued at US$ 176.30 million in 2022 and is expected to reach US$ 231.60 million by 2028, registering a CAGR of 4.7% from 2022 to 2028. Increasing demand from aerospace industry are the critical factors attributed to the South America super precision bearing market expansion.

Manufacturers are investing in super precision bearing production, which is creating demand for super precision bearings across the region. In February 2023, HB Bearings, a bearing manufacturing company, added Kellenberger K100 grinding center with an automated system for large volume taper bearings. This addition to the roller side of manufacturing helped the company to clear two months of backlog in two weeks. Another company investment is K100 with a Wenger WeStep 650 automation solution. This solution enabled the machine to manufacture 400-500 rollers within a day in 2022 as compared to 90 rollers in previous years. These additions helped the company increase its sales and fulfill customer demand for super precision bearings. Thus, rising investment to boost the production of super precision bearings is driving the growth of the South America super precision bearing market.

On the contrary, growing fluctuations in prices of raw materials hampers the South America super precision bearing market.  

Based on type, the South America super precision bearing market is segmented into angular contact ball bearings, cylindrical roller bearings, and others. The angular contact ball bearings segment held 58.4% share of South America super precision bearing market in 2022, amassing US$ 102.92 million. It is projected to garner US$ 136.42 million by 2028 to expand at 4.8% CAGR during 2022–2028. 

Based on application, the South America 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 35.3% share of South America super precision bearing market in 2022, amassing US$ 62.28 million. It is projected to garner US$ 80.42 million by 2028 to expand at 4.4% CAGR during 2022–2028.

Based on country, the South America super precision bearing market has been categorized into Brazil and the Rest of South America. Our regional analysis states that Brazil captured 71.8% share of South America super precision bearing market in 2022. It was assessed at US$ 126.52 million in 2022 and is likely to hit US$ 172.23 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.

Key players dominating the South America super precision bearing market are TEKT Corp; NSK Ltd; Schaeffler AG; SKF AB; and The Timken Co, among others.   

• 2022, NSK and Cyfuse Biomedical have agreed to collaborate in developing new technologies for regenerative medicine and cellular therapy products.

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