Bearing Market Outlook, 2030

A bearing is a mechanical component that only permits the desired relative motion and lessens friction between moving elements. In their assemblies, bearings generally make use of balls, rollers, rings, fluids, and magnets. Bearings are essentially used in every sort of machinery or equipment, from automobile components, agricultural gear, and home appliances to aerospace and defence technology. Moreover, a rise in demand for specialized bearing solutions that meet different industry-specific requirements and challenges is projected to boost the market. For instance, the rising application of high-capacity products in wind turbines is expected to catapult the demand.

Wind turbines utilize these products to enhance turbine performance and reliability, increase energy production, and reduce lubricant consumption. Manufacturers have been working towards producing bearings that are not only more efficient but also environmentally friendly. The development of biodegradable lubricants and the use of recycled materials in bearing production are examples of how the industry is responding to growing environmental concerns. In addition, the integration of smart bearings with embedded sensors has become a significant trend. These sensors provide real-time data on temperature, vibration, and load conditions, enabling predictive maintenance and reducing the risk of sudden failures. Growing automation in manufacturing facilities and gradual greening of industrial production further enhance market growth during the forecast period. According to the United Nations Industrial Development Organization (UNIDO), motor vehicles and other transport equipment showcased the highest growth rate in 2023. Advanced technologies, such as Computer-Aided Design (CAD) and simulation, enable manufacturers to develop highly efficient and reliable bearings. Manufacturing companies are investing in new product launches with an expanded range of applications across industries.

According to the research report 'Global Bearing Market Outlook, 2030,', the Global Bearing market was valued at more than USD 120.51 Billion in 2024, and expected to reach a market size of more than USD 179.34 Billion by 2030 with the CAGR of 6.90% from 2025-2030. Bearings come in a wide range of sizes and shapes and are a crucial tri-biological component of many different types of machinery. The bearing market continues to evolve, driven by advancements in materials science, manufacturing processes, and the increasing need for high-performance components.

As industries embrace new technologies like 5G, Internet of Things (IoT), and artificial intelligence (AI), the demand for specialized bearings will likely continue to rise. The bearing market’s future will see even more developments in automation, sustainability, and digitalization, as manufacturers seek to provide increasingly sophisticated solutions to meet the growing demands of a technologically advanced world. For instance, according to the International Federation of Robotics, around 553,052 industrial robots were installed across factories in 2023, with 73% of the total robots deployed in Asia. Bearings play a crucial role in electric vehicles and robots by improving reliability, overall efficiency, and performance. The increased focus on healthcare infrastructure and medical equipment production increased the demand for specialized bearings used in ventilators, diagnostic devices, and medical machinery. Moreover, the rising popularity of e-commerce and online platforms during the pandemic drove the demand for bearings in logistics and material handling systems. Manufacturers in this industry had to navigate supply chain disruptions, ensuring a steady flow of raw materials and components to meet customer demands. The coronavirus pandemic has had a significant impact on the market, with many manufacturing companies facing adverse effects of lockdown situations in major economies such as China and Japan, among several others. The automotive industry, which is the largest consumer of bearing among all the other industries, witnessed a substantial reduction in vehicle production, primarily owing to supply chain disruptions and restrictions on the movement of people.

Market Drivers

Growth in the Automotive Industry: One of the most significant drivers of the global bearing market is the robust growth of the automotive industry. Bearings are integral to nearly every component of a vehicle, from the engine to the wheels, transmission, and suspension systems. As the automotive sector continues to expand globally, so does the demand for bearings. Furthermore, advancements in automotive technologies, including the development of electric vehicles (EVs) and hybrid vehicles, have fueled the need for specialized bearings that are lightweight, energy-efficient, and capable of withstanding higher performance requirements.

Expansion of Renewable Energy Projects: The growing focus on renewable energy sources like wind, solar, and hydropower is another critical driver of the bearing market. Bearings are essential components in various renewable energy systems, particularly in wind turbines, where they help support the rotor and ensure smooth operation in harsh environmental conditions. Wind energy, in particular, is one of the largest sectors driving bearing demand, as wind turbines require high-performance bearings capable of withstanding heavy loads, extreme temperatures, and continuous rotational movement.

Market Challenges

Fluctuating Raw Material Prices: One of the major challenges faced by the bearing market is the volatility in the prices of raw materials. Bearings are primarily made from metals such as steel, stainless steel, and, more recently, ceramics. The prices of these materials are highly influenced by global supply and demand dynamics, economic fluctuations, and geopolitical tensions. For instance, an increase in the cost of raw steel due to tariffs, supply chain disruptions, or shortages can significantly impact the cost structure for bearing manufacturers.

Technological Complexity and Maintenance Costs: While the bearing market has seen significant technological advancements, these innovations often come with increased complexity. Bearings are now designed to handle higher loads, faster speeds, and more demanding environmental conditions, particularly in industries like aerospace, automotive, and renewable energy.

Market Trends

Shift Toward Smart Bearings and Predictive Maintenance: One of the most notable trends in the bearing market is the growing adoption of smart bearings, which are integrated with sensors that collect data on parameters like temperature, vibration, and load. This data is then used to predict potential failures, schedule maintenance activities, and optimize the performance of machines and systems. The adoption of smart bearings is closely tied to the rising demand for predictive maintenance in various industries, as companies seek to reduce unexpected downtime, lower maintenance costs, and extend the lifespan of machinery.

Sustainability and Environmentally Friendly Solutions: Sustainability is becoming an essential trend across all industries, and the bearing market is no exception. There is growing pressure for manufacturers to reduce their carbon footprint, minimize waste, and use eco-friendly materials in production. In addition, bearing manufacturers are exploring the use of alternative, environmentally friendly lubricants that are biodegradable and less harmful to the environment. The use of recycled materials in bearing production is also becoming more common, as manufacturers aim to reduce the environmental impact of their operations.

Ball bearings dominate the global bearing industry due to their versatility, cost-effectiveness, high efficiency, and ability to perform reliably under various conditions, making them essential in a wide range of applications across industries.

Ball bearings are a cornerstone of the global bearing industry due to their unique combination of design simplicity, durability, versatility, and high performance. These bearings consist of smooth, spherical balls that are positioned between two rings, typically an inner and outer race, allowing them to handle radial and axial loads with minimal friction. This structure, while simple, provides superior performance compared to other bearing types, such as roller or thrust bearings, particularly in terms of speed and smoothness.

The low friction and efficient rotation enabled by the ball bearings make them ideal for applications requiring high rotational speeds and precise motion, such as in electric motors, industrial machines, automobiles, and even household appliances. One of the primary reasons for the dominance of ball bearings in the global market is their adaptability to a wide array of applications. From heavy-duty machinery used in manufacturing to lightweight components in consumer electronics, ball bearings are indispensable. Their ability to function in both high-speed and heavy-load environments gives them a competitive advantage over other bearing types that may be more specialized for particular conditions. For example, roller bearings, while effective in handling heavier loads, typically have higher friction and are less efficient in high-speed applications, whereas ball bearings maintain excellent performance across a broad range of operational conditions. Cost-effectiveness is another reason behind the widespread use of ball bearings. They are relatively inexpensive to manufacture due to their simple design and the materials used, such as steel, ceramics, or plastic. Mass production techniques have driven costs down, making ball bearings an affordable option for even the most price-sensitive industries. This cost efficiency is a critical factor in the decision-making process of manufacturers across the globe, as ball bearings offer a reliable solution without significantly increasing production costs.

Industrial applications lead the global bearing industry due to the widespread demand for reliable, high-performance bearings that enable the efficient functioning of machinery and equipment across diverse manufacturing and processing sectors.

Industrial applications have become the driving force behind the global bearing industry, largely due to the critical role bearings play in the operation of machinery across a wide variety of sectors. Bearings are essential components that reduce friction between moving parts, thereby allowing equipment to run smoothly, efficiently, and for longer periods without excessive wear or failure. In industries ranging from automotive and aerospace to food processing and energy production, reliable bearings are crucial for maintaining the uptime, productivity, and safety of complex machinery and systems.

The vast scope of industrial applications and their need for continuous operation make bearings indispensable in achieving the required performance levels. Moreover, as industries scale up their operations and adopt more sophisticated technologies, the complexity of the machinery used also increases. In these advanced systems, bearings must not only reduce friction but also withstand varying temperatures, pressures, and environmental conditions. This drives the need for specialized bearings, such as high-temperature, corrosion-resistant, or precision ball bearings, that can maintain their performance under challenging circumstances. For example, in the energy sector, bearings are used in wind turbines, power plants, and oil and gas exploration, where they must endure harsh environments while maintaining the operational efficiency of critical equipment. Similarly, in the mining and construction industries, bearings must endure heavy-duty operations, such as those found in crushers, excavators, and other large machinery, where the ability to operate reliably and continuously is essential. The increased focus on quality control, precision engineering, and materials science has led to the development of bearings that offer superior performance, extended service life, and greater reliability. Industries such as aerospace, robotics, and automotive are at the forefront of adopting these innovations, with specialized bearings being used in critical applications like turbine engines, robotic arms, and high-speed train systems.

Chrome steel is leading in the global bearing industry due to its exceptional hardness and wear resistance.

Chrome steel, also known as chrome alloy steel, is a type of steel alloyed with chromium, which significantly enhances its hardness and wear resistance. This makes it an ideal material for manufacturing bearings, which are subjected to high loads and continuous friction. The hardness of chrome steel allows it to withstand heavy loads without deforming, ensuring the longevity and reliability of bearings. Additionally, chrome steel's wear resistance minimizes abrasion and extends the service life of bearings, even under harsh operating conditions.

These properties are particularly important in industries such as automotive, aerospace, and industrial machinery, where bearings play a critical role in ensuring smooth and efficient operation. Furthermore, chrome steel bearings are cost-effective compared to other materials like ceramic or stainless steel, making them a popular choice for a wide range of applications. The combination of high performance, durability, and affordability makes chrome steel the leading material in the global bearing industry.

Unmounted bearings are leading in the global bearing industry due to their versatility and cost-effectiveness.

Unmounted bearings, also known as standalone bearings, are gaining prominence in the global bearing industry because of their versatility and cost-effectiveness. These bearings are not pre-assembled into housings or other components, allowing them to be customized and integrated into a wide range of applications and machinery. This flexibility makes them highly adaptable to various industries, including automotive, aerospace, industrial machinery, and consumer electronics. Unmounted bearings can be easily selected and combined with other components to meet specific performance requirements, such as load capacity, speed, and environmental conditions.

The growing demand for high-performance and energy-efficient machinery is also driving the popularity of unmounted bearings. These bearings can be tailored to specific applications, ensuring optimal performance and reducing energy consumption. Advances in materials science and manufacturing technologies have enabled the production of unmounted bearings with improved properties, such as higher load capacity, better wear resistance, and enhanced durability. These advancements make unmounted bearings suitable for demanding applications, such as electric vehicle drivetrains, wind turbines, and heavy machinery. Moreover, the trend towards miniaturization and lightweight design in various industries has increased the demand for compact and lightweight bearings. Unmounted bearings can be designed to meet these requirements, providing the necessary support and reducing the overall weight of the machinery. This is particularly important in sectors like aerospace and consumer electronics, where weight reduction is critical for performance and efficiency.

The Asia-Pacific (APAC) region is leading the global bearing industry due to its robust industrial growth and significant investments in manufacturing and technology.

China is forecast to cater to the highest market share in Asia Pacific due to the rising investment in the manufacturing sector. China’s investment in the manufacturing sector and double-digit growth trend to surge the market demand for bearings. Advanced manufacturing facilities and demand for efficient manufacturing operations is anticipated to boost the market across the country. Additionally, the Chinese government has implemented favorable policies to encourage the establishment and growth of automotive manufacturing and precision engineering industries. These policies aim to attract investment, promote technological advancements, and enhance the overall competitiveness of this industry.

China has been actively expanding its manufacturing clusters and industrial infrastructure, creating a conducive environment for the development of this industry. Considerable efforts have been made to establish well-connected production facilities and manufacturing hubs nationwide. Government initiatives and supportive energy policies are further surging the demand for energy-efficient bearings. Increasing demand for machines and rapid growth in automobile production are a few of the prominent factors surging the market demand for bearings. Rapid industrialization and high-end technologies to drive the bearings market growth in the region. Industrial machine demand is growing across several developing countries in the region. For instance, Germany’s machine tools export to Malaysia rose by 51% in 2020. Similar heavy trade-offs and dynamic growth across developing nations in the Asia Pacific are surging the market demand for bearings. Asia Pacific, due to rising construction activities, increasing investment in machinery, and advanced manufacturing facilities, is expected to experience the highest growth rate. The presence of major bearing manufacturers and suppliers in APAC has created a competitive environment that drives continuous improvement and cost-effectiveness. The availability of skilled labor and favorable government policies supporting industrial growth have also played a crucial role in the region's success.

• In February 2023, Timken, a leading manufacturer of engineered industrial motion tools and bearings, took over the operations of American Roller Bearing Co. (ARB), a maker of modern bearings with headquarters in North Carolina. Timken's business-leading array of industrial-bearing solutions now includes products from ARB. In 2022, sales for ARB, which has a significant user base and a strong aftermarket in the United States, hit USD 30 million.
• In November 2022, For air turbine handpieces, a type of dental tool used by dentists all over the world, NSK Ltd. has created QuickStopBearing. The revolutionary QuickStopBearing from NSK increases the treatment effectiveness and security of air-driven dental tools.
• In November 2022, A contract for the purchase of CERASPIN has been signed by the CERATIZIT Group and the automotive and industrial supplier Schaeffler. CERASPIN, a company with headquarters in Livange, Luxembourg, has more than 25 years of experience in the design and manufacture of high-quality ceramic products, the bulk of which are converted into rolling components for various bearing applications.
• In September 2022, To assist customers in decreasing weight and improving the performance of bogies while minimizing their environmental impact, SKF created a new design for axleboxes. The new Y25 axlebox complies with industry standards and is intended for axle loads up to 25 tonnes.
• NTN Corporation developed a bearing product that is called as Tenter clip bearing in March 2021 that is used in the packaging industry.
• SKF upgraded the application that provides rapid information on extreme precision bearings in March 2021. Customers can use the application to scan product codes and get product information.
• The Timken Company announced the acquisition of Aurora Bearing Company in December 2020. Aurora provides spherical plain bearings and rod ends to the off-highway equipment, aerospace and defense, and racing manufacturing industries.
• NTN Corporation announced in September 2020 that it would increase manufacturing and distribution of deep groove ball bearings designed exclusively for electric vehicles and hybrid electric vehicles.

Major Companies present in the market

SKF Corporation, NTN Corporation, NSK Limited, JTEKT Corporation, The Timken Company, Schaeffler AG, Daido Metal Company Limited, Regal Rexnord Corporation, NBI Bearings Europe SA, Harbin Bearing Manufacturing Co., Limited, HKT Bearings Limited, Luoyang LYC Bearing Company Limited, Iljin Bearing, RKB Bearing, Wafangdian Bearing Group Corp, THK Co. Ltd., MinebeaMitsumi, RBC Bearings Incorporated.

Considered in this report

• Geography: Global
• Historic year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report

• Global Bearing market with its value and forecast along with its segments
• Region-wise bearing market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By product type in the report

• Ball Bearing
• Roller Bearing
• Plain Bearing
• Others (Magnetic Bearing, Fluid Bearing, Disc Harrow Bearing, etc.)

By application type in the report

• Automotive
• Industrial
• Aerospace
• Others (Railway, Agriculture, etc.)

By installation type in the report

• Unmounted Bearing
• Mounted Bearing

By distribution channel in the report

• Original equipment manufacturers (OEMs)
• Aftermarket

By material type in the report

• Metal
• Stainless Steel
• Chrome Steel
• Carbon Steel
• Brass
• Others (Plastic, Ceramic, etc.)

The approach of the report

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases.

After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to bearing industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

This product will be delivered within 2 business days.