The global market for Plain Bearings is estimated at US$12.4 Billion in 2023 and is projected to reach US$18.0 Billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the plain bearings market is driven by several factors, including strong focus on efficient heavy-loading systems, rapid industrialization across developing nations, increasing automobile production, shift towards wind energy, and technological advancements. Rising uptake of plain bearings in numerous industries remains a primary driver for the global market, propelling the demand from applications like elevators, production lines and conveyor belts. The high performance and durability makes plain bearings an appealing option for diverse industry verticals such as automotive, aerospace, oilfield machinery, construction, energy, and agricultural/ gardening machinery.
Rising vehicle production on account of increasing demand for traditional automobiles and EVs coupled with favorable regulations and zero-emission initiatives are powering plain bearing demand. The market is slated to move ahead and gain momentum with availability of sophisticated seal and lubrication technologies intended to reduce friction and drive energy efficiency. Product innovations and technological advancements are opening new growth opportunities by leading to smart bearings with enhanced performance and reduced maintenance costs.
The rise of Industry 4.0 along with increasing adoption of emerging technologies are augmenting the demand for plain bearings with capability to collect process data to support monitoring and predictive maintenance applications. These factors collectively ensure the steady expansion of the plain bearings market, addressing the evolving needs of industries for reliable and cost-effective bearing solutions.
The growth in the plain bearings market is driven by several factors, including strong focus on efficient heavy-loading systems, rapid industrialization across developing nations, increasing automobile production, shift towards wind energy, and technological advancements. Rising uptake of plain bearings in numerous industries remains a primary driver for the global market, propelling the demand from applications like elevators, production lines and conveyor belts. The high performance and durability makes plain bearings an appealing option for diverse industry verticals such as automotive, aerospace, oilfield machinery, construction, energy, and agricultural/ gardening machinery.
Rising vehicle production on account of increasing demand for traditional automobiles and EVs coupled with favorable regulations and zero-emission initiatives are powering plain bearing demand. The market is slated to move ahead and gain momentum with availability of sophisticated seal and lubrication technologies intended to reduce friction and drive energy efficiency. Product innovations and technological advancements are opening new growth opportunities by leading to smart bearings with enhanced performance and reduced maintenance costs.
The rise of Industry 4.0 along with increasing adoption of emerging technologies are augmenting the demand for plain bearings with capability to collect process data to support monitoring and predictive maintenance applications. These factors collectively ensure the steady expansion of the plain bearings market, addressing the evolving needs of industries for reliable and cost-effective bearing solutions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Journal Plain Bearings segment, which is expected to reach US$8.2 Billion by 2030 with a CAGR of a 6.3%. The Linear Plain Bearings segment is also set to grow at 5.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.5 Billion in 2023, and China, forecasted to grow at an impressive 6.9% CAGR to reach $5.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Plain Bearings Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Plain Bearings Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Plain Bearings Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as GGB Bearing Technology, Minebea Mitsumi Inc., NSK Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 123 Featured):
- GGB Bearing Technology
- Minebea Mitsumi Inc.
- NSK Ltd.
- NTN Corporation
- RBC Bearings Incorporated
- Schaeffler Technologies AG & Co. KG
- SGL Group
- SKF Group
- THK Co. Ltd.
- Timken Company
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAFRANCEITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
GERMANY
ASIA-PACIFIC
Companies Mentioned
- GGB Bearing Technology
- Minebea Mitsumi Inc.
- NSK Ltd.
- NTN Corporation
- RBC Bearings Incorporated
- Schaeffler Technologies AG & Co. KG
- SGL Group
- SKF Group
- THK Co. Ltd.
- Timken Company
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 546 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 12.4 Billion |
| Forecasted Market Value ( USD | $ 18 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
