The mounted bearing market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The historical growth can be credited to industrialization, the expansion of heavy industries, rising investments, increased machinery capacity and speed, and the growing demand for specialized bearings.
The mounted bearing market size is expected to see strong growth in the next few years. It will grow to $2.0 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. Projected growth is expected due to population growth, the increasing adoption of automation and robotics, greater focus on environmentally friendly and sustainable practices, the rise of electric vehicles, and the globalization of manufacturing. Key trends in the forecast period include advancements in materials and coatings, smart and connected bearings, the electrification of transportation, automation and robotics, and the demand for application-specific solutions.
The growth of the mounted bearing market is expected to be propelled by the increasing demand for electric vehicles (EVs). Electric vehicles, powered by electricity stored in batteries, are gaining popularity due to their environmental advantages and lower operational costs, making them an attractive option for consumers and businesses alike. Mounted bearings play a crucial role in EVs by supporting essential functions such as motor operation, drivetrain efficiency, wheel rotation, and overall vehicle performance. For example, the Global EV Outlook 2023 report published by the International Energy Agency noted a significant increase in electric car sales, rising by 3.5 million in 2023 compared to 2022, marking a 35% year-on-year increase. This underscores the pivotal role of electric vehicle demand in driving the growth of the mounted bearing market.
Leading companies in the mounted bearing sector are focusing on innovation to enhance performance and meet the growing demand for durable, high-precision bearings across various industries. Spherical roller bearings, for instance, are a type of bearing capable of accommodating both radial and axial loads, designed specifically to handle heavy loads and misalignments. For instance, in September 2021, AB SKF introduced a new spherical roller bearing tailored for continuous steel casting operations. These bearings are engineered to endure extreme conditions prevalent in steel manufacturing, including high temperatures, static loads, and contamination from scale, dust, and water. By addressing these operational challenges, SKF's bearings aim to minimize unplanned equipment downtime and exemplify the company's commitment to ongoing innovation in bearing technology.
In February 2023, Timken Company, a US-based manufacturer specializing in bearings and power transmission products, completed the acquisition of American Roller Bearing Company for an undisclosed sum. This strategic move aims to strengthen Timken's portfolio of engineered bearing solutions, expand its market reach to $1 trillion, and capitalize on American Roller Bearing Company's U.S. installed base and aftermarket business. The acquisition underscores Timken's commitment to growth and strategic opportunities, enhancing its competitive edge and creating value for stakeholders. American Roller Bearing Company, based in the US, is renowned for its manufacturing of roller and ball bearings.
Major companies operating in the mounted bearing market are JTEKT Corporation, SKF AB, NSK Ltd., Rexnord Corporation, Regal Beloit Corporation, The Timken Company, Wafangdian Bearing Group Corporation, Rexnord Industries LLC, Altra Industrial Motion Corp., Baldor Electric Company, Peer Bearing Company, Kaman Industrial Technologies Corporation, NRB Industrial Bearings Limited, Aurora Bearing Company, IKO International Inc., Mageba SA, Climax Metal Products Company, Scheerer Bearing Corporation, ISB Industries, Dalton Bearing Service Inc., IPTCI Bearings, Moline Bearing Company, Hudson Bearings, FYH Bearing Units USA Inc., Cixing Group Co. Ltd.
North America was the largest region in the mounted bearing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mounted bearing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mounted bearing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A mounted bearing comprises a bearing enclosed within a mounting unit, typically including a housing or pillow block that supports, protects, and provides mounting surfaces for the bearing. These bearings find widespread application in industrial settings such as conveyor systems, agricultural equipment, and machinery, where they are essential for shaft support and alignment.
Mounted bearings primarily consist of ball bearings and roller bearings. A ball bearing utilizes balls to maintain separation between its bearing races, serving various equipment such as ball mill drives, fans, blowers, gearboxes, conveyors, crushers, and mixer drives. They are available in different housing configurations such as Plummer blocks, flanged blocks, and take-up blocks. These bearings are sold by original equipment manufacturers and aftermarket suppliers and are utilized across diverse industries including food and beverages, agriculture, construction, mining, automotive, chemical, pharmaceutical, energy, general industrial machinery, and pulp and paper.
The mounted bearing market research report is one of a series of new reports that provides mounted bearing market statistics, including mounted bearing industry global market size, regional shares, competitors with a mounted bearing market share, detailed mounted bearing market segments, market trends and opportunities, and any further data you may need to thrive in the mounted bearing industry. This mounted bearing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The mounted bearing market consists of sales of cartridge bearings, hanger bearings, insert bearings and related products. 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 3-5 business days.
The mounted bearing market size is expected to see strong growth in the next few years. It will grow to $2.0 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. Projected growth is expected due to population growth, the increasing adoption of automation and robotics, greater focus on environmentally friendly and sustainable practices, the rise of electric vehicles, and the globalization of manufacturing. Key trends in the forecast period include advancements in materials and coatings, smart and connected bearings, the electrification of transportation, automation and robotics, and the demand for application-specific solutions.
The growth of the mounted bearing market is expected to be propelled by the increasing demand for electric vehicles (EVs). Electric vehicles, powered by electricity stored in batteries, are gaining popularity due to their environmental advantages and lower operational costs, making them an attractive option for consumers and businesses alike. Mounted bearings play a crucial role in EVs by supporting essential functions such as motor operation, drivetrain efficiency, wheel rotation, and overall vehicle performance. For example, the Global EV Outlook 2023 report published by the International Energy Agency noted a significant increase in electric car sales, rising by 3.5 million in 2023 compared to 2022, marking a 35% year-on-year increase. This underscores the pivotal role of electric vehicle demand in driving the growth of the mounted bearing market.
Leading companies in the mounted bearing sector are focusing on innovation to enhance performance and meet the growing demand for durable, high-precision bearings across various industries. Spherical roller bearings, for instance, are a type of bearing capable of accommodating both radial and axial loads, designed specifically to handle heavy loads and misalignments. For instance, in September 2021, AB SKF introduced a new spherical roller bearing tailored for continuous steel casting operations. These bearings are engineered to endure extreme conditions prevalent in steel manufacturing, including high temperatures, static loads, and contamination from scale, dust, and water. By addressing these operational challenges, SKF's bearings aim to minimize unplanned equipment downtime and exemplify the company's commitment to ongoing innovation in bearing technology.
In February 2023, Timken Company, a US-based manufacturer specializing in bearings and power transmission products, completed the acquisition of American Roller Bearing Company for an undisclosed sum. This strategic move aims to strengthen Timken's portfolio of engineered bearing solutions, expand its market reach to $1 trillion, and capitalize on American Roller Bearing Company's U.S. installed base and aftermarket business. The acquisition underscores Timken's commitment to growth and strategic opportunities, enhancing its competitive edge and creating value for stakeholders. American Roller Bearing Company, based in the US, is renowned for its manufacturing of roller and ball bearings.
Major companies operating in the mounted bearing market are JTEKT Corporation, SKF AB, NSK Ltd., Rexnord Corporation, Regal Beloit Corporation, The Timken Company, Wafangdian Bearing Group Corporation, Rexnord Industries LLC, Altra Industrial Motion Corp., Baldor Electric Company, Peer Bearing Company, Kaman Industrial Technologies Corporation, NRB Industrial Bearings Limited, Aurora Bearing Company, IKO International Inc., Mageba SA, Climax Metal Products Company, Scheerer Bearing Corporation, ISB Industries, Dalton Bearing Service Inc., IPTCI Bearings, Moline Bearing Company, Hudson Bearings, FYH Bearing Units USA Inc., Cixing Group Co. Ltd.
North America was the largest region in the mounted bearing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mounted bearing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mounted bearing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A mounted bearing comprises a bearing enclosed within a mounting unit, typically including a housing or pillow block that supports, protects, and provides mounting surfaces for the bearing. These bearings find widespread application in industrial settings such as conveyor systems, agricultural equipment, and machinery, where they are essential for shaft support and alignment.
Mounted bearings primarily consist of ball bearings and roller bearings. A ball bearing utilizes balls to maintain separation between its bearing races, serving various equipment such as ball mill drives, fans, blowers, gearboxes, conveyors, crushers, and mixer drives. They are available in different housing configurations such as Plummer blocks, flanged blocks, and take-up blocks. These bearings are sold by original equipment manufacturers and aftermarket suppliers and are utilized across diverse industries including food and beverages, agriculture, construction, mining, automotive, chemical, pharmaceutical, energy, general industrial machinery, and pulp and paper.
The mounted bearing market research report is one of a series of new reports that provides mounted bearing market statistics, including mounted bearing industry global market size, regional shares, competitors with a mounted bearing market share, detailed mounted bearing market segments, market trends and opportunities, and any further data you may need to thrive in the mounted bearing industry. This mounted bearing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The mounted bearing market consists of sales of cartridge bearings, hanger bearings, insert bearings and related products. 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 3-5 business days.
Table of Contents
1. Executive Summary2. Mounted Bearing Market Characteristics3. Mounted Bearing Market Trends and Strategies32. Global Mounted Bearing Market Competitive Benchmarking33. Global Mounted Bearing Market Competitive Dashboard34. Key Mergers and Acquisitions in the Mounted Bearing Market
4. Mounted Bearing Market - Macro Economic Scenario
5. Global Mounted Bearing Market Size and Growth
6. Mounted Bearing Market Segmentation
7. Mounted Bearing Market Regional and Country Analysis
8. Asia-Pacific Mounted Bearing Market
9. China Mounted Bearing Market
10. India Mounted Bearing Market
11. Japan Mounted Bearing Market
12. Australia Mounted Bearing Market
13. Indonesia Mounted Bearing Market
14. South Korea Mounted Bearing Market
15. Western Europe Mounted Bearing Market
16. UK Mounted Bearing Market
17. Germany Mounted Bearing Market
18. France Mounted Bearing Market
19. Italy Mounted Bearing Market
20. Spain Mounted Bearing Market
21. Eastern Europe Mounted Bearing Market
22. Russia Mounted Bearing Market
23. North America Mounted Bearing Market
24. USA Mounted Bearing Market
25. Canada Mounted Bearing Market
26. South America Mounted Bearing Market
27. Brazil Mounted Bearing Market
28. Middle East Mounted Bearing Market
29. Africa Mounted Bearing Market
30. Mounted Bearing Market Competitive Landscape and Company Profiles
31. Mounted Bearing Market Other Major and Innovative Companies
35. Mounted Bearing Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Mounted Bearing Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on mounted bearing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for mounted bearing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mounted bearing market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Ball Bearing; Roller Bearing2) By Equipment: Ball Mill Drives; Fans And Blowers; Gearboxes And Transmissions; Conveyors; Crushers; Mixer Drives; Other Equipment
3) By Housing Block Type: Plummer Block; Flanged Block; Take-Up Block; Other Housing Block Types
4) By Sales Channel: Original Equipment Manufacturers; Aftermarket
5) By End User: Food And Beverages; Agriculture; Construction And Mining; Automotive And Transportation; Chemical And Pharmaceutical; Energy; General Industrial And Machinery; Pulp And Paper
Key Companies Mentioned: JTEKT Corporation; SKF AB; NSK Ltd.; Rexnord Corporation; Regal Beloit Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- JTEKT Corporation
- SKF AB
- NSK Ltd.
- Rexnord Corporation
- Regal Beloit Corporation
- The Timken Company
- Wafangdian Bearing Group Corporation
- Rexnord Industries LLC
- Altra Industrial Motion Corp.
- Baldor Electric Company
- Peer Bearing Company
- Kaman Industrial Technologies Corporation
- NRB Industrial Bearings Limited
- Aurora Bearing Company
- IKO International Inc.
- Mageba SA
- Climax Metal Products Company
- Scheerer Bearing Corporation
- ISB Industries
- Dalton Bearing Service Inc.
- IPTCI Bearings
- Moline Bearing Company
- Hudson Bearings
- FYH Bearing Units USA Inc.
- Cixing Group Co. Ltd
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.54 Billion |
Forecasted Market Value ( USD | $ 2 Billion |
Compound Annual Growth Rate | 6.7% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |