Bearing Steel Market Report 2026

The bearing steel market size has grown steadily in recent years. It will grow from $6.84 billion in 2025 to $7.06 billion in 2026 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to growth in automotive manufacturing, increasing industrial machinery deployment, rising demand for roller and ball bearings, expansion of construction activities, technological improvements in steel metallurgy.

The bearing steel market size is expected to see steady growth in the next few years. It will grow to $8.38 billion in 2030 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to rising adoption of electric vehicles, growing automation in manufacturing, increased demand from renewable energy sector, advancements in aerospace engineering, focus on long-life and low-maintenance bearings. Major trends in the forecast period include rising demand for high-performance bearing materials, increasing adoption of high carbon chromium steel, growing use of advanced heat treatment processes, expansion of precision bearing applications, rising focus on wear and fatigue resistance.

The expanding automotive industry is expected to drive the growth of the bearing steel market in the coming years. The automotive industry includes a wide range of businesses involved in the design, development, production, marketing, and sale of automobiles. Bearing steel is a key component in vehicles, as it helps reduce their weight while being both lightweight and durable. It also offers significant advantages such as reduced friction, corrosion resistance, and enhanced durability. For example, in March 2025, the European Automobile Manufacturers Association, a Belgium-based trade group, reported that in 2024, global car sales reached 74.6 million units, marking a 2.5% increase compared to 2023. The EU car market grew by 0.8% in 2024, with total sales reaching 10.6 million units, while car sales in North America showed resilience, recording a 3.8% growth. Therefore, the growth of the automotive industry is fueling the expansion of the bearing steel market.

Key companies in the bearing steel market are focusing on product innovation, such as developing spindle bearings, to maintain their market standing. Spindle bearings are specialized bearings designed to support and guide spindle rotation in machinery, offering high precision, rigidity, and load-bearing capacity for applications like turning, milling, and grinding. For example, in September 2023, Schaeffler, a Germany-based leader in bearing technology, launched new super precision cylindrical roller bearings aimed at enhancing performance in high-load applications, such as main spindles in machinery. These bearings feature an advanced PEEK cage construction that reduces friction and wear, leading to improved lubrication and lower operating temperatures. The design optimizes oil distribution, enhancing the reliability of non-locating bearing functions even at high speeds. Additionally, Schaeffler’s hybrid variants, with ceramic rollers, further reduce friction and extend the lifespan of spindles and machinery, broadening their applicability in precision engineering.

In February 2023, The Timken Company, a US-based bearings and power transmissions manufacturer, acquired American Roller Bearing Company for an undisclosed amount. The acquisition will help The Timken Company expand its advanced industrial-bearing product portfolio. American Roller Bearing Company is a US-based manufacturer of steel bearings used in various applications, including automotive, aerospace and machinery.

Major companies operating in the bearing steel market report are China Baowu Steel Group Corp. Ltd., Nippon Steel Corporation, Tata Steel Limited, HBIS Group Co. Ltd., Kobe Steel Ltd., Nanjing Iron and Steel Co. Ltd., Saarstahl AG, Daido Steel Co. Ltd., Fushun Special Steel Co. Ltd., Jiangsu Suzhou Steel Group Co. Ltd., EZM Edelstahlzieherei Mark GmbH, Schaeffler Technologies AG & Co. KG, JTEKT Corporation, MinebeaMitsumi Inc., AB SKF, NSK Ltd., NTN Corporation, The Timken Company, Wafangdian Guangyang Bearing Group Co. Ltd., Nachi-Fujikoshi Corp., National Engineering Industries Ltd., Fujian Longxi Bearing (Group) Corp. Ltd., Luoyang LYC Bearing Co. Ltd., Dongil Industries Co. Ltd., HKT Bearings Limited, RKB Europe SA, THB Bearings Co. Ltd., Harbin Bearing Manufacturing Co. Ltd., Del-Tron Precision Inc.

Asia-Pacific was the largest region in the bearing steel market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the bearing steel market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bearing steel market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The bearing steel market consists of sales of hybrid bearings, stainless steel bearings, bearing steel tubes and wire. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.