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Bearings - Global Strategic Business Report

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    Report

  • 791 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338754

Global Bearings Market to Reach $173.2 Billion by 2030

The global market for Bearings estimated at US$108.6 Billion in the year 2023, is projected to reach a revised size of US$173.2 Billion by 2030, growing at a CAGR of 6% over the analysis period 2023-2030.

Roller Bearings, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$79.3 Billion by the end of the analysis period. Growth in the Ball Bearings segment is estimated at 5.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $18.1 Billion, While China is Forecast to Grow at 8.7% CAGR

The Bearings market in the U.S. is estimated at US$18.1 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$54.8 Billion by the year 2030 trailing a CAGR of 8.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 238 Featured)

  • Harbin Bearing Manufacturing Co., Ltd.
  • HKT Bearings Ltd.
  • igus® GmbH
  • JTEKT Corporation
  • MinebeaMitsumi, Inc.
  • Misumi USA
  • myonic GmbH
  • Nachi-Fujikoshi Corp.
  • NSK Ltd.
  • NTN Corporation
  • RBC Bearings, Inc.
  • Regal Rexnord Corporation
  • Rubix Group International Limited
  • Schaeffler AG
  • SKF Group
  • SNL Bearings Limited
  • Tenneco Inc.
  • The Timken Company
  • Thk Co. Ltd.
  • Wafangdian Bearing Group Corp., Ltd.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Bearings: Vital Anti-Friction Parts in Modern Mechanical Machinery
  • Global Economic Update
  • Competition
  • Bearings - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Bearings: Major Types & Applications
  • Recent Market Activity
  • Innovations
  • World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Salient Trends Favoring Steady Growth in Global Bearing Industry
  • Spotlight on China as a Major Market for Bearings
  • Are Bearings Ready for Industry 4.0?
  • Predictive Maintenance as the Hallmark of IIoT Drives Focus on Smart Bearings
  • Market to Witness Unconventional Growth for Smart Bearings as Adoption of Predictive Analytics in Failure & Maintenance Rises on the Back of IIoT: Global Breakdown of Investments in Manufacturing IoT (in US$ Billion) for the Years 2020, 2022, 2024, and 2026
  • Bright Outlook for Automotive Bearings
  • Global Motor Vehicle Production in Million Units: 2017-2023
  • Automotive Bearings Market & Its Dynamics
  • Focus on Lightweighting Boosts Demand for Light Weight Bearings
  • Engineering Interest in Lightweighting Drives Focus on Innovative Lightweight Bearings: Global Automotive Lightweight Materials Market (In US$ Billion) for the Years 2022, 2024 & 2026
  • Strong Outlook for Automotive Aftermarket to Benefit Demand for Bearings
  • Exciting Times Ahead for Bearings with Emerging Trends in Automotive Industry
  • Bearings Industry Faces a New Challenge amid EV Boom & Recovery in Automotive Industry
  • World Electric Vehicles (EVs) Market Analysis of Annual Sales in '000 Units for Years 2020, 2022, 2024, 2026
  • Electric Powertrain: A Buzzing Automotive Trend Triggering Advances for Bearings
  • New Solutions at Fore to Avoid Electrical Erosion of Ball Bearings in Electric Drivetrain
  • High-Speed Bearings Racing Ahead to Optimize Power Density in Electric Powertrains
  • Lighter, Smarter Transport Vehicles to Ushers in Opportunities for Innovative 3D Printed & Smart Bearing Solutions in Railway & Aerospace Industries
  • Steady Recovery in Commercial Aviation Provides the Foundation for a Stronger Outlook for the Market Through 2025
  • The Much Awaited Recovery of the Commercial Aviation Sector to Spur Opportunities for Propeller Manufacturers: Global Aviation Sector Service Revenues (In US$ Billion) for Years 2018 through 2024
  • Construction Industry Prospects to Have an Impact on the Bearings Market
  • Home Renovations & Need for Better Buildings for Post Pandemic Living to Spur Opportunities in the Construction Sector
  • Improved Growth in Metals & Mining Industry amid Headwinds to Drive Demand
  • Strong Outlook for Autonomous Farm Equipment to Benefit Demand in the Agriculture End-Use Segment
  • Growing Use of Autonomous Farm Equipment Expands the Addressable Market Opportunity for Bearings in the Agriculture End-Use Sector: Global Opportunity for Autonomous Farm Equipment (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Continuous Innovation Remains Crucial for Market Growth
  • Focus on Lightweighting Has Manufacturers Looking Beyond Steel
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Bearings Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Bearings by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Roller Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Roller Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Roller Bearings by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Ball Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for Ball Bearings by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for Ball Bearings by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for Other Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 15: World Historic Review for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 16: World 16-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Mining & construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 18: World Historic Review for Mining & construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 19: World 16-Year Perspective for Mining & construction by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Railway & Aerospace by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 21: World Historic Review for Railway & Aerospace by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 22: World 16-Year Perspective for Railway & Aerospace by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Agriculture by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 24: World Historic Review for Agriculture by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 25: World 16-Year Perspective for Agriculture by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Electrical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 27: World Historic Review for Electrical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 28: World 16-Year Perspective for Electrical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 29: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 30: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 31: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • A Peek into the US Ball Bearing Market
  • US Ceramic Ball Bearing Market
  • Competition
  • Single-Source Supply Trend
CANADA
  • Bearings Industry: An Insight
  • Canadian Ball Bearing Market Overview
JAPAN
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Competition
CHINA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • China: A Frontrunner in the Bearings Industry
EUROPE
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Market Overview
  • Competition
FRANCE
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Tapered Roller Bearings Dominate the Roller and Needle Bearings Market
  • UK Market for Roller and Needle Bearings by Type (2020): Percentage Breakdown of Value Sales for Tapered, Cylindrical, Spherical and Needle
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
  • Indian Bearings Industry: At a Glance
  • Industry Structure
  • Growth Drivers
  • Challenges
  • Market Overview
  • Competitive Scenario
  • Indian Bearings Market (2020): Market Share Breakdown by Leading Companies
  • Leading Bearing Manufacturers in India
  • Organized Sector Rules Domestic Bearings Production
  • Indian Bearings Market (2020): Percentage Share Breakdown by Sector for Organized, Unorganized, and Imports
  • Imports Account for a Prominent Share
  • Automotive: The Major Application Segment
  • Competition from Chinese Bearings
  • Automotive Bearing Exports: An Insight
  • Brief Note on Other Application Segments
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
  • Brief Overview
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
AFRICA
  • Bearings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Harbin Bearing Manufacturing Co., Ltd.
  • HKT Bearings Ltd.
  • igus® GmbH
  • JTEKT Corporation
  • MinebeaMitsumi, Inc.
  • Misumi USA
  • myonic GmbH
  • Nachi-Fujikoshi Corp.
  • NSK Ltd.
  • NTN Corporation
  • RBC Bearings, Inc.
  • Regal Rexnord Corporation
  • Rubix Group International Limited
  • Schaeffler AG
  • SKF Group
  • SNL Bearings Limited
  • Tenneco Inc.
  • The Timken Company
  • Thk Co. Ltd.
  • Wafangdian Bearing Group Corp., Ltd.

Table Information