Australia Bearings Market | Growth, Analysis, Trends, Value, Outlook, Industry, Share, Forecast, Size, Segmentation & COVID-19 IMPACT: Market Forecast By Product, By Roller Bearing Type, By Application, And Competitive Landscape

Australia bearings market witnessed significant growth, fueled by substantial investments across key sectors such as construction, automotive, and mining. Infrastructure development has been a major driver of this expansion, bolstered by a $647 billion allocation to residential, commercial, and industrial projects. With 5,500 projects in the pipeline, these initiatives account for 57% of the total construction market projected between 2021-22 and 2025-26. Additionally, Upcoming Major Construction Projects ~$608 360 Queen Street Office Tower expected to be completed by 2025 and $2200 Ivanhoe Estate Town Centre 2024-2025, further underscoring the sector's dynamic growth.

According to the research, Australia Bearings Market is projected to grow at a CAGR of 6.1% from 2024-2030F. This expected growth is fueled by strategic investments in the automotive industry, particularly in clean energy, along with the mining sector. With 21.17 million registered vehicles in Australia as of January 2023 and increasing interest in electric vehicles (EVs), demand for specialized bearings for electric powertrains is rising. The shift toward electric and hybrid vehicle production, supported by the Australian Government’s National Electric Vehicle Strategy, further drives growth.

Additionally, Australia's increasing investments in the mining sector are also driving growth, with $11.5 billion invested in the March quarter of 2024, reflecting a 6% increase from 2023. This is further supported by upcoming projects such as the $3.5 billion Phosphate Project, expected to be completed by 2027, as well as the $1.9 billion Hawsons Iron Project and the $1.2 billion Kalgoorlie Nickel Project, both set to finish by 2025. These developments are positively impacting the Australian bearings market.

Furthermore, Australia's commitment to a cleaner energy transition, with over $65 billion allocated through the Capacity Investment Scheme by 2030, along with the Australian Infrastructure Plan (2021-2036), would accelerate infrastructure and energy development. Collectively, these elements foster an ideal landscape for the growth of bearings industry in Australia, positioning the market for sustained growth in the coming years.

Market Segmentation By Product Type

Roller bearings are anticipated to experience the highest growth in the Australian bearings market in coming years due to their superior load-carrying capacity and widespread use across industries such as mining, automotive, and Manufacturing.

Market Segmentation By Roller Bearing Type

In the coming years, Needle Roller Bearings are anticipated to experience the highest growth owing to their compact design, which enhances efficiency in space-constrained applications. Additionally, the rising demand for high-performance, lightweight solutions, particularly in the Renewable Energy and automotive sectors, is expected to further drive the growth of Needle Roller Bearings.

Market Segmentation By Application

The Manufacturing sector in Australia offers the highest growth opportunity for bearings due to its ongoing shift towards high-tech, precision-driven operations. With the rise of Industry 4.0, there is an increasing need for specialized bearings to support automated systems, reduce downtime, and maintain the performance of advanced machinery in diverse industrial applications.

Key Attractiveness of the Report

• 10 Years Market Numbers
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Australia Bearings Market Overview
• Australia Bearings Market Outlook
• Australia Bearings Market Forecast
• Industry Life Cycle
• Porter’s Five Forces Analysis
• Historical Data and Forecast of Australia Bearings Market Revenues for the Period 2020-2030F
• Historical Data and Forecast of Australia Bearings Market Revenues, By Product Types, for the Period 2020-2030F
• Historical Data and Forecast of Australia Bearings Market Revenues, By Roller Bearing Type, for the Period 2020-2030F
• Historical Data and Forecast of Australia Bearings Market Revenues, By Application, for the Period 2020-2030F
• Market Drivers and Restraints
• Market Trends
• Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product Types

• Ball Bearing
• Roller Bearing
• Bearing Units

By Roller Bearing Type

• Taper Roller Bearings
• Spherical Roller Bearings
• Cylindrical Roller Bearings
• Needle Rollers Bearings
• Others

By Application

• Mining & Construction
• Agriculture
• Food Industries
• Steel Industries
• Paper & Pulp
• Cement
• Manufacturing