According to Nova one advisor, the global Bearing market size is expected to hit around USD 243.09 billion by 2030 from valued at USD 121.35 billion in 2021 and growing at a CAGR of 7.9% from 2022 to 2030.
A bearing is a machine component that constrains relative motion and reduces friction between moving parts of a machine. Ball bearings, roller bearings, spherical bearings, and sleeve bearings are the different bearing types, used in automotive, construction, and aerospace applications. Bearings used in diverse machinery need to be monitored continuously to ensure the efficiency, reliability, and consistency of operations. Upcoming technologies, such as smart bearings, are likely to help manufacturers monitor bearing operations constantly. The opportunity for the bearing market to expand is influenced by an increase in the demand for bearings from the automobile industry. The various types of bearings used in automobiles include automotive mounted bearings, and air bearings, which comprise car hub unit bearings, truck hub units, belt tensioner units, water pump spindles, clutch release bearings, propeller shaft support bearings, propeller shaft centering bearings, suspension bearings, and free wheel clutches. Growth in demand for specialized bearing solutions that meet different industry-specific requirements is projected to boost the market during the forecast period.
Report Scope of the Bearing Market
|
Report Coverage |
Details |
|
Market Size |
USD 243.09 Billion by 2030 |
|
Growth Rate |
CAGR of 7.9% from 2022 to 2030 |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Product, Type, Material, Distribution Channels and Region, |
|
Companies Mentioned |
SKF, The Timken Company, Rexnord Corporation, MinebeaMitsumi Inc., NSK Ltd, Schaeffler AG, RBC Bearings Incorporated, JTEKT Corporation, NTN Bearing Corporation, Danaher |
Rapid Growth in Automotive Sector to Drive Global Bearing Market
In terms of application, the global bearing market has been classified into automotive, construction, aerospace, power transmission, oil & gas, agriculture, and others. The automotive segment held major share of the bearing market in 2021. This is due to increase in demand for bearings in automotive parts of the vehicle. Increase in production of vehicles across the globe is directly fueling the demand for bearings used in automotive parts. Thrust bearings or helical gears are the most common bearing utilized in modern automobile gearboxes (in cars) for forward gears, which improve smoothness and ensure noise reduction but produce axial forces that must be managed. Radio antenna masts may include thrust bearings to lighten the weight of an antenna rotator. Bearings are the most important part of machines to provide motion and to help run machines/vehicles smoothly and more efficiently, which is also encouraging the growth of the global bearing market. Increase in industrialization has been one of the major factors leading to rise in vehicle production, which has propelled the adoption of bearings. Globally, sales of electric vehicles have also boosted the demand for bearings in the automotive sector. Therefore, development of the automotive sector is expected to augment the global bearing market during the forecast period.
Significant Usage of Bearings in Defense and Aerospace Industry to Augment Global Bearing Market
Various countries globally are revving up their defense infrastructure, which in turn is likely to increase the demand for bearings. Specialized bearings such as thrust bearings and linear bearings are needed for mission-critical uses in aerospace equipment. Companies such as SKF create specialist energy-efficient ball bearings with specific lubricants that decrease friction. These bearings have far lower bearing temperatures, longer grease life, and longer service intervals, besides using less energy. Smart bearings have in-built sensors to provide data about their surroundings, such as vibration, temperature, direction, speed, load, amounts of debris, and other elements. The data collected by smart bearings is sent to a control system that keeps track of the specific bearing activity; for instance, smart bearings used in automobile wheel applications to track speed information. The future of bearings is likely to depend on technologies that are expected to aid producers in continuously monitoring bearing functions, such as smart bearings, and magnetic bearings.
Increase in Preference for Low Cost and Easily Replaceable Ball Bearings
In terms of product, the bearing market has been segmented into ball bearing, roller bearing, plain bearing, and others (air bearings, magnetic bearings, etc.). The ball bearing segment held major share of the global bearing market in 2021, and it is expected to maintain its leading position in the market during the forecast period. Light vehicle and heavy vehicle manufacturers opt for ball bearings. This is expected to boost the segment during the forecast period. Production of light vehicles is projected to rise, globally, in the next few years due to demand for fuel-efficient vehicles. Ball bearings can handle lesser loads at a faster speed as compared to linear bearings. Under shock and impact loads, linear bearings function better. Typically, ball bearings are offered in assemblies, and they are easily replaced as single parts and available at a lower cost. Furthermore, the compact nature of ball bearings is enhancing their utility among end-users. All these factors are expected to boost the global bearing market during the forecast period.
Regional Insights
Asia Pacific dominated the market and accounted for a revenue share of 41.01% in 2021. The region is also anticipated to witness the fastest growth in terms of revenue, accounting for over USD 98.70 billion by 2030. China is one of the major markets, and sale in the country is expected to catapult over the foreseeable years stimulated by the rapid expansion of machinery and motor vehicle production coupled with a strong aftermarket for industrial equipment and motor vehicle repair. Moreover, the robust construction and mining equipment market in India is estimated to facilitate market growth through 2030.
In Europe, the market is anticipated to witness favorable growth during the forecast period, owing to sustainable economic growth and increased investment. Furthermore, in the mature markets of the U.S., Western Europe, and Japan, the demand is driven by the rebounding production of motor vehicles and a healthy fixed investment environment. Increased sales of high-value bearings, such as large-diameter, custom-built used in heavy machinery, and wind turbines are also expected to drive the market in North America. In the Middle East and Africa, the rapid development of city infrastructures is positively influencing overall growth.
Some of the prominent players in the Bearing Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Bearing market
By Product Type
By Type
By Material Type
By Distribution Channel Type
By Component Type
By Application Type
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Benefits for Stakeholders
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Bearing Market, By Product Type
7.1. Bearing Market, by Product Type, 2020-2030
7.1.1. Plain Bearing
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Ball Bearing
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Roller Bearing
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Other
7.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Bearing Market, By Type
8.1. Bearing Market, by Type, 2020-2030
8.1.1. Mounted Bearing
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Unmounted Bearing
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Bearing Market, By Material Type
9.1. Bearing Market, by Material Type, 2020-2030
9.1.1. Metal (Stainless Steel, Chrome Steel, Carbon Steel, Brass)
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Plastic
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Ceramic
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Bearing Market, By Component Type
10.1. Bearing Market, by Component Type, 2020-2030
10.1.1. Cages
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Balls
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Rollers
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Rings
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Other
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Bearing Market, By Distribution Channel
11.1. Bearing Market, by Distribution Channel, 2020-2030
11.1.1. Offline
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Online
11.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Bearing Market, By Application
12.1. Bearing Market, by Application Type, 2020-2030
12.1.1. Construction
12.1.1.1. Market Revenue and Forecast (2017-2030)
12.1.2. Aerospace
12.1.2.1. Market Revenue and Forecast (2017-2030)
12.1.3. Automotive
12.1.3.1. Market Revenue and Forecast (2017-2030)
12.1.4. Power Transmission
12.1.4.1. Market Revenue and Forecast (2017-2030)
12.1.5. Oil & Gas
12.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 13. Global Bearing Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.2. Market Revenue and Forecast, by Type (2017-2030)
13.1.3. Market Revenue and Forecast, by Material (2017-2030)
13.1.4. Market Revenue and Forecast, by Component (2017-2030)
13.1.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.1.6. Market Revenue and Forecast, by Application (2017-2030)
13.1.7. U.S.
13.1.7.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.7.2. Market Revenue and Forecast, by Type (2017-2030)
13.1.7.3. Market Revenue and Forecast, by Material (2017-2030)
13.1.7.4. Market Revenue and Forecast, by Component (2017-2030)
13.1.8. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.1.8.1. Market Revenue and Forecast, by Application (2017-2030)
13.1.9. Rest of North America
13.1.9.1. Market Revenue and Forecast, by Product (2017-2030)
13.1.9.2. Market Revenue and Forecast, by Type (2017-2030)
13.1.9.3. Market Revenue and Forecast, by Material (2017-2030)
13.1.9.4. Market Revenue and Forecast, by Component (2017-2030)
13.1.10. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.1.11. Market Revenue and Forecast, by Application (2017-2030)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.2. Market Revenue and Forecast, by Type (2017-2030)
13.2.3. Market Revenue and Forecast, by Material (2017-2030)
13.2.4. Market Revenue and Forecast, by Component (2017-2030)
13.2.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.2.6. Market Revenue and Forecast, by Application (2017-2030)
13.2.8. UK
13.2.8.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.8.2. Market Revenue and Forecast, by Type (2017-2030)
13.2.8.3. Market Revenue and Forecast, by Material (2017-2030)
13.2.9. Market Revenue and Forecast, by Component (2017-2030)
13.2.10. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.2.10.1. Market Revenue and Forecast, by Application (2017-2030)
13.2.11. Germany
13.2.11.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.11.2. Market Revenue and Forecast, by Type (2017-2030)
13.2.11.3. Market Revenue and Forecast, by Material (2017-2030)
13.2.12. Market Revenue and Forecast, by Component (2017-2030)
13.2.13. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.2.14. Market Revenue and Forecast, by Application (2017-2030)
13.2.15. France
13.2.15.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.15.2. Market Revenue and Forecast, by Type (2017-2030)
13.2.15.3. Market Revenue and Forecast, by Material (2017-2030)
13.2.15.4. Market Revenue and Forecast, by Component (2017-2030)
13.2.16. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.2.16.1. Market Revenue and Forecast, by Application (2017-2030)
13.2.17. Rest of Europe
13.2.17.1. Market Revenue and Forecast, by Product (2017-2030)
13.2.17.2. Market Revenue and Forecast, by Type (2017-2030)
13.2.17.3. Market Revenue and Forecast, by Material (2017-2030)
13.2.17.4. Market Revenue and Forecast, by Component (2017-2030)
13.2.18. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.2.18.1. Market Revenue and Forecast, by Application (2017-2030)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.2. Market Revenue and Forecast, by Type (2017-2030)
13.3.3. Market Revenue and Forecast, by Material (2017-2030)
13.3.4. Market Revenue and Forecast, by Component (2017-2030)
13.3.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.3.6. Market Revenue and Forecast, by Application (2017-2030)
13.3.7. India
13.3.7.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.7.2. Market Revenue and Forecast, by Type (2017-2030)
13.3.7.3. Market Revenue and Forecast, by Material (2017-2030)
13.3.7.4. Market Revenue and Forecast, by Component (2017-2030)
13.3.8. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.3.9. Market Revenue and Forecast, by Application (2017-2030)
13.3.10. China
13.3.10.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.10.2. Market Revenue and Forecast, by Type (2017-2030)
13.3.10.3. Market Revenue and Forecast, by Material (2017-2030)
13.3.10.4. Market Revenue and Forecast, by Component (2017-2030)
13.3.11. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.3.11.1. Market Revenue and Forecast, by Application (2017-2030)
13.3.12. Japan
13.3.12.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.12.2. Market Revenue and Forecast, by Type (2017-2030)
13.3.12.3. Market Revenue and Forecast, by Material (2017-2030)
13.3.12.4. Market Revenue and Forecast, by Component (2017-2030)
13.3.12.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.3.12.6. Market Revenue and Forecast, by Application (2017-2030)
13.3.13. Rest of APAC
13.3.13.1. Market Revenue and Forecast, by Product (2017-2030)
13.3.13.2. Market Revenue and Forecast, by Type (2017-2030)
13.3.13.3. Market Revenue and Forecast, by Material (2017-2030)
13.3.13.4. Market Revenue and Forecast, by Component (2017-2030)
13.3.13.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.3.13.6. Market Revenue and Forecast, by Application (2017-2030)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.2. Market Revenue and Forecast, by Type (2017-2030)
13.4.3. Market Revenue and Forecast, by Material (2017-2030)
13.4.4. Market Revenue and Forecast, by Component (2017-2030)
13.4.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.4.6. Market Revenue and Forecast, by Application (2017-2030)
13.4.7. GCC
13.4.7.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.7.2. Market Revenue and Forecast, by Type (2017-2030)
13.4.7.3. Market Revenue and Forecast, by Material (2017-2030)
13.4.7.4. Market Revenue and Forecast, by Component (2017-2030)
13.4.8. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.4.9. Market Revenue and Forecast, by Application (2017-2030)
13.4.10. North Africa
13.4.10.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.10.2. Market Revenue and Forecast, by Type (2017-2030)
13.4.10.3. Market Revenue and Forecast, by Material (2017-2030)
13.4.10.4. Market Revenue and Forecast, by Component (2017-2030)
13.4.11. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.4.12. Market Revenue and Forecast, by Application (2017-2030)
13.4.13. South Africa
13.4.13.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.13.2. Market Revenue and Forecast, by Type (2017-2030)
13.4.13.3. Market Revenue and Forecast, by Material (2017-2030)
13.4.13.4. Market Revenue and Forecast, by Component (2017-2030)
13.4.13.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.4.13.6. Market Revenue and Forecast, by Application (2017-2030)
13.4.14. Rest of MEA
13.4.14.1. Market Revenue and Forecast, by Product (2017-2030)
13.4.14.2. Market Revenue and Forecast, by Type (2017-2030)
13.4.14.3. Market Revenue and Forecast, by Material (2017-2030)
13.4.14.4. Market Revenue and Forecast, by Component (2017-2030)
13.4.14.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.4.14.6. Market Revenue and Forecast, by Application (2017-2030)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.2. Market Revenue and Forecast, by Type (2017-2030)
13.5.3. Market Revenue and Forecast, by Material (2017-2030)
13.5.4. Market Revenue and Forecast, by Component (2017-2030)
13.5.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.5.6. Market Revenue and Forecast, by Application (2017-2030)
13.5.7. Brazil
13.5.7.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.7.2. Market Revenue and Forecast, by Type (2017-2030)
13.5.7.3. Market Revenue and Forecast, by Material (2017-2030)
13.5.7.4. Market Revenue and Forecast, by Component (2017-2030)
13.5.8. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.5.8.1. Market Revenue and Forecast, by Application (2017-2030)
13.5.9. Rest of LATAM
13.5.9.1. Market Revenue and Forecast, by Product (2017-2030)
13.5.9.2. Market Revenue and Forecast, by Type (2017-2030)
13.5.9.3. Market Revenue and Forecast, by Material (2017-2030)
13.5.9.4. Market Revenue and Forecast, by Component (2017-2030)
13.5.9.5. Market Revenue and Forecast, by Distribution Channel (2017-2030)
13.5.9.6. Market Revenue and Forecast, by Application (2017-2030)
Chapter 14. Company Profiles
14.1. SKF
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. The Timken Company
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Rexnord Corporation
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. MinebeaMitsumi Inc.
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. NSK Ltd
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Schaeffler AG
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. RBC Bearings Incorporated
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. JTEKT Corporation
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. NTN Bearing Corporation
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Danaher
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers