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Bearing Market Size, Share & Trends Analysis Report by Product, by Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace, Automotive Aftermarket), by Region, and Segment Forecasts 2022-2030

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    Report

  • 80 Pages
  • October 2022
  • Region: Global
  • Grand View Research
  • ID: 4761201
Description Jump to:
The global bearings market is anticipated to reach USD 227.69 billion by 2030, registering a CAGR of 9.1% over the forecast period. Bearings are essential in almost every application that involves motion, and they help minimize friction between different mechanical components in several industrial machinery and equipment, resulting in reduced energy consumption. Hence, this machine element finds application in all industries, ranging from automobiles, household appliances, and aerospace to industrial machinery, using machinery or related motor-driven linkages.

The market is estimated to witness considerable growth in the forthcoming years, ascribed to the aim to achieve energy efficiency. Energy-saving and bearings go hand-in-hand. The main objective of this element is saving energy by reducing friction, be it during the rotation of shafts of a transmission or the wheel of a vehicle. Additionally, the rising demand for commercial vehicles is expected to catapult the demand from the automotive sector across the world.

Technological advancements including smart bearings, the development of advanced materials and lubricants, and integrating sensor units, are anticipated to provide high growth potential to the market. With the objective of enhancing performance, vendors are incorporating sensor units of the product. Sensor units help with digital monitoring of rotation speed, axial movement, load-carrying capacity acceleration, and deceleration. These units are presently being used in conveyors forklifts, road rollers, and electric motors. Furthermore, the integration of IoT capabilities facilitates manufacturers to monitor operations constantly.

The market is mature with a dynamic demand closely related to the state of engineering industries and capital goods. Companies are offering integrated products that significantly decrease the number of bearings that go into an assembled product and reduce the overall cost of equipment. This in turn is also increasing the shelf-life and reliability of the product. Product manufacturers are increasingly investing in R&D to address the intensifying competition by providing innovative products.

Bearings Market Report Highlights

  • The development of cost-effective wind energy-generating products has resulted in their increased espousal within wind turbine applications that aid in increasing energy production, reduce lubricant consumption, and enhancing turbine performance and reliability.
  • The roller bearings segment is anticipated to grow at the fastest CAGR registering 9.5% during the forecast period. Roller bearings are ideal for applications requiring higher load-carrying capacity than speed. They are used in heavy-load settings across various industries, including equipment and machinery, aerospace, manufacturing, and power generation. The aggressive investments in infrastructure developments, which drive the demand for heavy-duty equipment and machinery, bode well for the growing demand for roller bearings.
  • Railway and Aerospace application is estimated to witness the fastest CAGR of over 10.0% during the forecast period to their growing demand in applications such as shock absorbers, gearboxes, doors, and tilting mechanisms. Further, different types of bearings are commonly used in locomotives, traction motors, wagon wheels, freight carriers, and suspension. The development of the commercial aerospace industry, in line with the growing demand for aircraft, space vehicles, space shuttles, and satellites, is expected to drive the growth of the bearing market over the forecast period.
  • The Asia Pacific is anticipated to witness the fastest CAGR of 10.1% owing to the rapid expansion of the industrial and construction sector. Further, growing motor vehicle production coupled with the region's strong aftermarket demand for industrial equipment and motorcycle repairs augurs well for the growth in the region.
  • Various leading companies are investing in high-level R&D to come up with innovative solutions. These solutions are focused on being cost-effective as well as on enhancing the overall quality of the end-product. Key players in the market include Brammer PLC, HKT Bearings Ltd., Harbin Bearing Manufacturing Co., Ltd., NBI Bearings Europe, NSK Global, JTEKT Corporation, NTN Corporation, Rexnord Corporation, RHP Bearings, Schaeffler Group, RBC Bearings Inc., SKF Corporation, and The Timken Company.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation
1.2. Report Scope and Assumptions
1.3. Research Methodology
1.3.1. Bottom-Up Approach
1.3.2. Top-Down Approach
1.4. Research Assumptions
1.5. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Summary
2.2. Bearings- Industry Snapshot & Key Buying Criteria, 2017 - 2030
2.3. Bearings Market - Market Outlook
2.4. Bearings Market - Segmental Outlook
2.5. Global Bearings Market, 2017 - 2030
Chapter 3. Market Variables, Trends & Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Bearings Market Value Chain
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.1.1. Increased application of high capacity bearings in wind turbines
3.3.1.2. Increasing demand for bearings in energy-efficient vehicles
3.3.1.3. Growing demand in railway, aerospace and other applications
3.3.1.4. Rapidly Increasing EV Sales
3.3.2. Market challenges/restraint analysis
3.3.2.1. Counterfeit products
3.3.2.2. Increasing raw material prices
3.3.3. Market opportunity analysis
3.3.3.1. Integration of electro-mechanical features into bearings for medical applications
3.4. Bearings Market- Porter’s Five Forces
3.5. Bearings Market- PEST
3.6. Technology Trends of Bearings in Electric Vehicles Industry
3.6.1. Innovations In Bearing Design and Sizes
3.6.2. Usage Of High-Performance Materials In Bearings
3.6.3. Adoption Of Sensors with Bearings
3.6.4. Selection Of Lubricants
3.6.5. Adoption Of Smart Bearing
3.7. Impact of COVID-19 on the Bearings Market
Chapter 4. Bearings Market: Product Estimates & Trend Analysis
4.1. Bearings Market: Product Share Analysis, 2017 - 2030
4.1.1. Ball Bearings
4.1.1.1. Deep Groove Bearings
4.1.1.2. Others
4.1.2. Roller Bearings
4.1.2.1. Split
4.1.2.2. Tapered
4.1.2.3. Others
4.1.3. Plain Bearings
4.1.3.1. Journal Plain Bearings
4.1.3.2. Linear Plain Bearings
4.1.3.3. Thrust Plain Bearings
4.1.3.4. Others
4.1.4. Others
Chapter 5. Bearings Market: Application Estimates & Trend Analysis
5.1. Bearings Market: Application Share Analysis, 2017 - 2030
5.1.1. Automotive
5.1.2. Agriculture
5.1.3. Electrical
5.1.4. Mining and Construction
5.1.5. Railway & Aerospace
5.1.6. Automotive & Aftermarket
Chapter 6. Bearings Market: Regional Estimates & Trend Analysis
6.1. Bearings Market Share By Region, 2021 & 2030
6.2. North America
6.2.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.2.2. Bearings market by application, 2017 - 2030 (USD Billion)
6.2.3. U.S.
6.2.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.2.3.2. Bearings market by application 2017 - 2030 (USD Billion)
6.2.4. Canada
6.2.4.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.2.4.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3. Europe
6.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.2. Bearings market by application, 2017 - 2030 (USD Billion)
6.3.3. Western Europe
6.3.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.3.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3.3.3. U.K.
6.3.3.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.3.3.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3.3.4. Germany
6.3.3.4.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.3.4.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3.3.5. France
6.3.3.5.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.3.5.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3.3.6. Italy
6.3.3.6.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.3.6.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3.4. Eastern Europe
6.3.4.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.4.2. Bearings market by application 2017 - 2030 (USD Billion)
6.3.4.3. Russia
6.3.4.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.3.4.3.2. Bearings market by application 2017 - 2030 (USD Billion)
6.4. Asia Pacific
6.4.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.4.2. Bearings market by application, 2017 - 2030 (USD Billion)
6.4.3. China
6.4.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.4.3.2. Bearings market by application 2017 - 2030 (USD Billion)
6.4.4. India
6.4.4.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.4.4.2. Bearings market by application 2017 - 2030 (USD Billion)
6.4.5. Japan
6.4.5.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.4.5.2. Bearings market by application 2017 - 2030 (USD Billion)
6.5. Latin America
6.5.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.5.2. Bearings market by application, 2017 - 2030 (USD Billion)
6.5.3. Brazil
6.5.3.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.5.3.2. Bearings market by application 2017 - 2030 (USD Billion)
6.5.4. Mexico
6.5.4.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.5.4.2. Bearings market by application 2017 - 2030 (USD Billion)
6.6. Middle East and Africa (MEA)
6.6.1. Bearings market by product, 2017 - 2030 (USD Billion)
6.6.2. Bearings market by application, 2017 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
7.1. Brammer PLC
7.1.1. Company Overview
7.1.2. Product Benchmarking
7.2. HARBIN BEARING MANUFACTURING CO., LTD.
7.2.1. Company Overview
7.2.2. Product Benchmarking
7.3. HKT BEARINGS LIMITED
7.3.1. Company Overview
7.3.2. Product Benchmarking
7.4. NBI Bearings Europe, S.A.
7.4.1. Company Overview
7.4.2. Product Benchmarking
7.5. JTEKT CORPORATION
7.5.1. Company Overview
7.5.2. Financial performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. NSK Ltd.
7.6.1. Company Overview
7.6.2. Financial performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. NTN Bearing Corporation
7.7.1. Company Overview
7.7.2. Financial performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. RBC BEARINGS INC
7.8.1. Company Overview
7.8.2. Financial performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. Zurn Water Solutions Corporation
7.9.1. Company Overview
7.9.2. Product Benchmarking
7.9.3. Recent developments
7.9.4. Strategic Initiatives
7.10. Schaeffler AG
7.10.1. Company Overview
7.10.2. Financial performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives
7.11. SKF
7.11.1. Company Overview
7.11.2. Financial performance
7.11.3. Product Benchmarking
7.11.4. Strategic Initiatives
7.12. The Timken Company
7.12.1. Company Overview
7.12.2. Product Benchmarking
7.12.3. Strategic Initiatives
List of Tables
Table 1 Global bearings market, 2017-2030 (USD Billion)
Table 2 Global bearings market by region, 2017-2030 (USD Billion)
Table 3 Global bearings market by product, 2017-2030 (USD Billion)
Table 4 Global roller bearings market by product, 2017-2030 (USD Billion)
Table 5 Global ball bearings market by product, 2017-2030 (USD Billion)
Table 6 Global plain bearings market by product, 2017-2030 (USD Billion)
Table 7 Global bearings market by applications, 2017-2030 (USD Billion)
Table 8 Global ball bearings market by product, 2017-2030 (USD Billion)
Table 9 Ball bearings market by region, 2017-2030 (USD Billion)
Table 10 Global ball bearings market, 2017-2030 (USD Billion)
Table 11 Deep groove bearings market by region, 2017-2030 (USD Billion)
Table 12 Other ball bearings market by region, 2017-2030 (USD Billion)
Table 13 Roller bearings market by region, 2017-2030 (USD Billion)
Table 14 Global roller bearings market, 2017-2030 (USD Billion)
Table 15 Split Roller bearings market by region, 2017-2030 (USD Billion)
Table 16 Tapered Roller bearings market by region, 2017-2030 (USD Billion)
Table 17 Other Roller bearings market by region, 2017-2030 (USD Billion)
Table 18 Plain bearings market by region, 2017-2030 (USD Billion)
Table 19 Global plain bearings market, 2017-2030 (USD Billion)
Table 20 Journal Plain bearings market by region, 2017-2030 (USD Billion)
Table 21 Linear Plain bearings market by region, 2017-2030 (USD Billion)
Table 22 Thrust Plain bearings market by region, 2017-2030 (USD Billion)
Table 23 Other Plain bearings market by region, 2017-2030 (USD Billion)
Table 24 Global bearings market by application, 2017-2030 (USD Billion)
Table 26 Automotive bearings market by region, 2017-2030 (USD Billion)
Table 28 Agriculture bearings market by region, 2017-2030 (USD Billion)
Table 30 Electrical bearings market by region, 2017-2030 (USD Billion)
Table 32 Mining & Construction bearings market by region, 2017-2030 (USD Billion)
Table 34 Railway & Aerospace bearings market by region, 2017-2030 (USD Billion)
Table 35 Automotive aftermarket bearings market by region, 2017-2030 (USD Billion)
Table 36 North America bearings market by country, 2017-2030 (USD Billion)
Table 37 North America bearings market by product, 2017-2030 (USD Billion)
Table 38 North America roller bearings market by product, 2017-2030 (USD Billion)
Table 39 North America ball bearings market by product, 2017-2030 (USD Billion)
Table 40 North America plain bearings market by product, 2017-2030 (USD Billion)
Table 41 North America bearings market by application, 2017-2030 (USD Billion)
Table 47 U.S bearings market by product, 2017-2030 (USD Billion)
Table 48 U.S. roller bearings market by product, 2017-2030 (USD Billion)
Table 49 U.S. ball bearings market by product, 2017-2030 (USD Billion)
Table 50 U.S. plain bearings market by product, 2017-2030 (USD Billion)
Table 51 U.S bearings market by application, 2017-2030 (USD Billion)
Table 52 Canada bearings market by product, 2017-2030 (USD Billion)
Table 53 Canada roller bearings market by product, 2017-2030 (USD Billion)
Table 54 Canada ball bearings market by product, 2017-2030 (USD Billion)
Table 55 Canada plain bearings market by product, 2017-2030 (USD Billion)
Table 56 Canada bearings market by application, 2017-2030 (USD Billion)
Table 57 Europe bearings market by region, 2017-2030 (USD Billion)
Table 58 Europe bearings market by product, 2017-2030 (USD Billion)
Table 59 Europe roller bearings market by product, 2017-2030 (USD Billion)
Table 60 Europe ball bearings market by product, 2017-2030 (USD Billion)
Table 61 Europe plain bearings market by product, 2017-2030 (USD Billion)
Table 62 Europe bearings market by application, 2017-2030 (USD Billion)
Table 68 Western Europe bearings market by country, 2017-2030 (USD Billion)
Table 69 Western Europe bearings market by product, 2017-2030 (USD Billion)
Table 70 Western Europe roller bearings market by product, 2017-2030 (USD Billion)
Table 71 Western Europe ball bearings market by product, 2017-2030 (USD Billion)
Table 72 Western Europe plain bearings market by product, 2017-2030 (USD Billion)
Table 73 Western Europe bearings market by application, 2017-2030 (USD Billion)
Table 74 U.K. bearings market by product, 2017-2030 (USD Billion)
Table 75 U.K. roller bearings market by product, 2017-2030 (USD Billion)
Table 76 U.K. ball bearings market by product, 2017-2030 (USD Billion)
Table 77 U.K. plain bearings market by product, 2017-2030 (USD Billion)
Table 78 U.K. bearings market by application, 2017-2030 (USD Billion)
Table 79 Germany bearings market by product, 2017-2030 (USD Billion)
Table 80 Germany roller bearings market by product, 2017-2030 (USD Billion)
Table 81 Germany ball bearings market by product, 2017-2030 (USD Billion)
Table 82 Germany plain bearings market by product, 2017-2030 (USD Billion)
Table 83 Germany bearings market by application, 2017-2030 (USD Billion)
Table 84 France roller bearings market by product, 2017-2030 (USD Billion)
Table 85 France ball bearings market by product, 2017-2030 (USD Billion)
Table 86 France plain bearings market by product, 2017-2030 (USD Billion)
Table 87 France bearings market by application, 2017-2030 (USD Billion)
Table 88 Italy roller bearings market by product, 2017-2030 (USD Billion)
Table 89 Italy ball bearings market by product, 2017-2030 (USD Billion)
Table 90 Italy plain bearings market by product, 2017-2030 (USD Billion)
Table 91 Italy bearings market by application, 2017-2030 (USD Billion)
Table 92 Eastern Europe bearings market by country, 2017-2030 (USD Billion)
Table 93 Eastern Europe bearings market by product, 2017-2030 (USD Billion)
Table 94 Eastern Europe roller bearings market by product, 2017-2030 (USD Billion)
Table 95 Eastern Europe ball bearings market by product, 2017-2030 (USD Billion)
Table 96 Eastern Europe plain bearings market by product, 2017-2030 (USD Billion)
Table 97 Eastern Europe bearings market by application, 2017-2030 (USD Billion)
Table 98 Russia roller bearings market by product, 2017-2030 (USD Billion)
Table 99 Russia ball bearings market by product, 2017-2030 (USD Billion)
Table 100 Russia plain bearings market by product, 2017-2030 (USD Billion)
Table 101 Russia bearings market by application, 2017-2030 (USD Billion)
Table 102 Asia Pacific bearings market by country, 2017-2030 (USD Billion)
Table 103 Asia Pacific bearings market by product, 2017-2030 (USD Billion)
Table 104 Asia Pacific roller bearings market by product, 2017-2030 (USD Billion)
Table 105 Asia Pacific ball bearings market by product, 2017-2030 (USD Billion)
Table 106 Asia Pacific plain bearings market by product, 2017-2030 (USD Billion)
Table 107 Asia Pacific bearings market by application, 2017-2030 (USD Billion)
Table 108 China bearings market by product, 2017-2030 (USD Billion)
Table 109 China roller bearings market by product, 2017-2030 (USD Billion)
Table 110 China ball bearings market by product, 2017-2030 (USD Billion)
Table 111 China plain bearings market by product, 2017-2030 (USD Billion)
Table 112 China bearings market by application, 2017-2030 (USD Billion)
Table 113 Japan bearings market by product, 2017-2030 (USD Billion)
Table 114 Japan roller bearings market by product, 2017-2030 (USD Billion)
Table 115 Japan ball bearings market by product, 2017-2030 (USD Billion)
Table 116 Japan plain bearings market by product, 2017-2030 (USD Billion)
Table 117 Japan bearings market by application, 2017-2030 (USD Billion)
Table 118 India bearings market by product, 2017-2030 (USD Billion)
Table 119 India roller bearings market by product, 2017-2030 (USD Billion)
Table 120 India ball bearings market by product, 2017-2030 (USD Billion)
Table 121 India plain bearings market by product, 2017-2030 (USD Billion)
Table 122 India bearings market by application, 2017-2030 (USD Billion)
Table 123 Latin America bearings market by country, 2017-2030 (USD Billion)
Table 124 Latin America bearings market by product, 2017-2030 (USD Billion)
Table 125 Latin America roller bearings market by product, 2017-2030 (USD Billion)
Table 126 Latin America ball bearings market by product, 2017-2030 (USD Billion)
Table 127 Latin America plain bearings market by product, 2017-2030 (USD Billion)
Table 128 Latin America bearings market by application, 2017-2030 (USD Billion)
Table 129 Brazil bearings market by product, 2017-2030 (USD Billion)
Table 130 Brazil roller bearings market by product, 2017-2030 (USD Billion)
Table 131 Brazil ball bearings market by product, 2017-2030 (USD Billion)
Table 132 Brazil plain bearings market by product, 2017-2030 (USD Billion)
Table 133 Brazil bearings market by application, 2017-2030 (USD Billion)
Table 134 Mexico bearings market by product, 2017-2030 (USD Billion)
Table 135 Mexico roller bearings market by product, 2017-2030 (USD Billion)
Table 136 Mexico ball bearings market by product, 2017-2030 (USD Billion)
Table 137 Mexico plain bearings market by product, 2017-2030 (USD Billion)
Table 138 Mexico bearings market by application, 2017-2030 (USD Billion)
Table 139 Middle East & Africa bearings market by product, 2017-2030 (USD Billion)
Table 140 Middle East & Africa roller bearings market by product, 2017-2030 (USD Billion)
Table 141 Middle East & Africa ball bearings market by product, 2017-2030 (USD Billion)
Table 142 Middle East & Africa ball bearings market by product, 2017-2030 (USD Billion)
Table 143 Middle East & Africa bearings market by application, 2017-2030 (USD Billion)
Table 144 Company categorization
List of Figures
Fig. 1 Bearings Market Segmentation
Fig. 2 Bearings Market Regional Scope
Fig. 3 Bearings-Industry snapshot & key buying criteria, 2017-2030
Fig. 4 Bearings Market Outlook 2017-2030 (Revenue in USD Billion)
Fig. 5 Bearings Market-Segmental Outlook 2017-2030 (Revenue in USD Billion)
Fig. 6 Bearings Market Size and Growth Prospects
Fig. 7 Bearings Market-Value Chain Analysis
Fig. 8 Bearings Market-Key Market Driver Impact
Fig. 9 Global Electric Vehicle Sales, 2015-2021
Fig. 10 Bearings Market-Key Market Challenge/Restraint Impact
Fig. 11 Steel price forecast to 2019 (USD)
Fig. 12 Bearings Market-Key Market Opportunity Impact
Fig. 13 Bearings Market-Porter’s Five Forces
Fig. 14 Bearings Market-PEST
Fig. 15 Bearings Market, By Product Analysis, 2021 & 2030 (USD Billion)
Fig. 16 Bearings Market Share-By Product, 2021 & 2030
Fig. 17 Bearings Market, By Application Analysis, 2021 & 2030 (USD Billion)
Fig. 18 Bearings Market-Application Share Analysis, 2021 & 2030
Fig. 19 Bearings Market-Regional Market Outlook
Fig. 20 Bearings Market, By Regional Analysis, 2021 & 2030 (USD Billion)
Fig. 21 Bearings Market-Regional Share Analysis, 2021 & 2030
Fig. 22 North America Bearings Market-Key Takeaways
Fig. 23 Europe Bearings Market-Key Takeaways
Fig. 24 Asia Pacific Bearings Market-Key Takeaways
Fig. 25 Latin America Bearings Market-Key Takeaways
Fig. 26 Middle East & Africa Bearings Market-Key Takeaways
Fig. 27 Key company market share analysis, 2021
Fig. 28 Bearings market-Position analysis
Fig. 29 Bearings market-Competitive dashboard analysis

Companies Mentioned

  • Brammer plc
  • Harbin Bearing Manufacturing Co. Ltd.
  • Hkt Bearings Limited
  • Nbi Bearings Europe, S.A.
  • Jtekt Corporation
  • Nsk Ltd.
  • Ntn Bearing Corporation
  • Rbc Bearings Inc
  • Zurn Water Solutions Corporation
  • Schaeffler AG
  • Skf
  • The Timken Company

Methodology

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Table Information

Report AttributeDetails
No. of Pages80
PublishedOctober 2022
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 113.22 Billion
Forecasted Market Value ( USD ) by 2030 $ 227.69 Billion
Compound Annual Growth Rate9.1%
Regions CoveredGlobal
No. of Companies Mentioned12

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