NTN Corporation is a global manufacturer of bearings, headquartered in Osaka, Japan. It was founded in 1918 and has since become one of the world’s largest bearing manufacturers. The company offers a wide range of products, including ball bearings, cylindrical roller bearings, and tapered roller bearings, among others.
According to a report by ResearchAndMarkets, the global bearing market is expected to grow at a CAGR of 6.4% between 2020 and 2025. The increasing demand for bearings in various industries, such as automotive, aerospace, and construction, is driving the growth of the market.
NTN Corporation has a significant market share in the global bearing market. According to a report by Allied Market Research, the global ball bearing market was valued at $19.08 billion in 2019, and is projected to reach $24.14 billion by 2027, growing at a CAGR of 3.6% from 2020 to 2027. In terms of market share, NTN Corporation held a share of approximately 12.5% in 2019.
The automotive industry is the largest consumer of bearings, and NTN Corporation is one of the major suppliers of bearings to the automotive industry. The company has established a strong foothold in the automotive market by providing innovative solutions to improve vehicle performance and reduce carbon emissions. NTN Corporation also supplies bearings to other industries, such as aerospace, construction, and renewable energy.
In recent years, NTN Corporation has been focusing on expanding its product portfolio and strengthening its market presence. In 2020, the company launched a new range of spherical roller bearings for the industrial machinery market. The new product line is designed to meet the increasing demand for high-performance bearings that can withstand harsh operating conditions.
|NTN Japan Ball Bearings|
|NTN Japan Roller Bearings|
In conclusion, NTN Corporation is a major player in the global bearing market with a significant market share. The company has established a strong presence in the automotive industry, and is expanding its product portfolio to cater to the growing demand for high-performance bearings in various industries. With its focus on innovation and customer satisfaction, NTN Corporation is well-positioned to maintain its market share in the years to come.
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