North America Plain Bearings Market Forecast to 2031 - Regional Analysis - by Product Type, Spherical Bearings, Rod Ends, and Application

The North America plain bearings market was valued at US$ 2.11 billion in 2023 and is expected to reach US$ 3.14 billion by 2031; it is estimated to register a CAGR of 5.1% from 2023 to 2031.

Growing Need of Plain Bearings in Several Industrial Applications Fuels North America Plain Bearings Market

Plain bearings are chosen for high-load and low-speed applications in various industrial applications, including automotive, power tools, and domestic appliances. In automobiles, plain bearings provide automotive support and guide moving components of the engine. They are used in the assembly of engine compartments, wheel suspensions, vehicle steering systems, brakes, pedals, pumps, and seats. Increasing automotive sales and production across the globe drives the North America plain-bearing market. According to the International Organization of Motor Vehicle Manufacturers, global automotive production reached 93.5 million units in 2023, up by 10% compared to 2022. Plain bearings comprise bearing shells that are locked in place in the bearing seat. Plain bearings are used in higher precision, lower weight applications where there is the presence of less moving parts of industrial vehicles such as excavators, tractors, dump trucks, and various cultivation and tillage construction machines. The plain bearings are cost-effective, easy to assemble and simpler in structure.

Further, plain bearing is widely used in the manufacturing of packaging machines that drives the market growth. The global packaging industry revenue was around US$ 1.11 trillion in 2023, with packaging machinery sales around US$ 27.45 billion in 2023, recording a CAGR of 4.8% during the forecast period 2023-2031. Packaging growth is typically higher in countries such as India, China, the US, Mexico, and Germany. Furthermore, plain bearings are widely used in power tools such as pneumatic fasteners, wrenches and drills, drivers, saws, guns, and masonry anchors.

North America Plain Bearings Market Overview

The US, Canada, and Mexico are the major nations contributing to the growth of the plain bearings market in North America. Mounting construction activities and industrialization across the region boosts the market growth substantially. Surging building and construction investments, including government funding toward infrastructure developments, are driving the demand for industrial vehicles, which fuels the application of plain bearings in the region. In August 2021, the US Ministry of Transportation and Infrastructure invested ~US$ 837.0 million for the highway expansion project between Western Canada in Alberta and British Columbia. This project includes the construction of bridges and the expansion of two-lane highways to four-lane highways. Such infrastructure development projects require various industrial vehicles and equipment, including forklifts, cranes, road rollers, and dump trucks. Thus, infrastructure development is expanding with a rise in construction projects across different countries in North America, which drives the plain bearing market.

In 2023, the Bipartisan Infrastructure Law by the Federal Transit Administration funded over US$ 300 billion for projects meant to rebuild and repair roads and bridges in the US. In addition, in 2023, it provided financial aid of US$ 25 billion to renovate and upgrade airports, and US$ 17 billion to improve US ports and waterways. Thus, the burgeoning government focus on infrastructure development is anticipated to favor the growth of the plain bearings market in the US. Aerospace & defense is one of the most notable end users of plain bearings in the US. The US handles more than 59,000 tons of cargo sent and received worldwide. The increasing number of aircraft in the US military and commercial sectors is a significant factor driving the plain bearings market, as companies deploy advanced aircraft components integrated with plain bearings to ensure smooth operations.

North America Plain Bearings Market Revenue and Forecast to 2031 (US$ Million)

North America Plain Bearings Market Segmentation

The North America plain bearings market is categorized into product type, application, and country.

Based on product type, the North America plain bearings market is segmented into spherical bearings, rod ends, and bushings. The spherical bearings segment held the largest North America plain bearings market share in 2023.

In terms of application, the North America plain bearings market is segmented into agriculture, construction, industrial vehicles, automotive and transportation, aerospace and defense, energy and power, and others. The automotive and transportation segment held the largest North America plain bearings market share in 2023.

By country, the North America plain bearings market is segmented into the US, Canada, and Mexico. The US dominated the North America plain bearings market share in 2023.

Rheinmetall AG, RBC Bearings Incorporated, Bailey International LLC, The Timken Co, AST Bearings LLC, NTN Corp, IKO International, Inc., SKF AB, and Regal Rexnord Corp. are some of the leading companies operating in the North America plain bearings market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America plain bearings market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the North America plain bearings market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America plain bearings market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.