The Thailand Industrial Bearings Market is growing rapidly, driven by strong expansion across key sectors including infrastructure, energy, automotive, and general manufacturing. Major infrastructure initiatives, such as the ongoing development of the Eastern Economic Corridor (EEC) with its next-gen industrial zones and port upgrades, have been significant drivers. Concurrently, the automotive sector, a long-standing pillar of the economy, maintained its resilience as Southeast Asia's leading production hub.
Despite a temporary slowdown in 2024 due to tighter credit conditions, the sector's fundamentals remained strong, supported by a vehicle production output that ranked globally. This period also saw the industrial sector flourish, with a year-on-year increase in investment promotions reaching more in Q1 2024, leading to a surge in new factory openings and expansions, which in turn accelerated machinery usage and the consumption of critical components such as industrial bearings.
The energy sector's transformative journey toward carbon neutrality and net-zero emissions, guided by the NEP 2023, aiming for renewable energy, would drive substantial investments in new machinery and infrastructure upgrades like smart grids and LNG terminals. Complementing this, the automotive industry is projected to ramp up production by 2025, with a growing focus on hybrid vehicles, ensuring a continuous and expanding need for industrial bearings across the entire value chain, solidifying Thailand's position as a regional MRO and manufacturing hub.
Despite a temporary slowdown in 2024 due to tighter credit conditions, the sector's fundamentals remained strong, supported by a vehicle production output that ranked globally. This period also saw the industrial sector flourish, with a year-on-year increase in investment promotions reaching more in Q1 2024, leading to a surge in new factory openings and expansions, which in turn accelerated machinery usage and the consumption of critical components such as industrial bearings.
Thailand Industrial Bearings Market Overview
The Thailand Industrial Bearings Market revenue is projected to grow at a CAGR of 7.3% during 2025-2031F. The Thailand Industrial Bearings Market is set for significant growth, fueled by ambitious long-term national strategies. The infrastructure sector is set to be a primary catalyst, with the EEC's five-year investment target and major projects like the high-speed rail link between key airports. Furthermore, large-scale defense modernization plans, including the Gripen E/F procurement program starting deliveries in 2028, would generate sustained demand for high-precision components.The energy sector's transformative journey toward carbon neutrality and net-zero emissions, guided by the NEP 2023, aiming for renewable energy, would drive substantial investments in new machinery and infrastructure upgrades like smart grids and LNG terminals. Complementing this, the automotive industry is projected to ramp up production by 2025, with a growing focus on hybrid vehicles, ensuring a continuous and expanding need for industrial bearings across the entire value chain, solidifying Thailand's position as a regional MRO and manufacturing hub.
Thailand Industrial Bearings Market Segmentation
Market Segmentation by Bearing Type
Roller bearings are projected to record the highest growth rate in Thailand Industrial Bearings Market in the foreseeable future due to their superior load-bearing capacity and durability under heavy-duty operations. Increasing demand from industries like construction, mining, energy, and heavy machinery, where equipment reliability is critical, is expected to accelerate their adoption.Market Segmentation by End-User
The Energy and Power sector is expected to witness the highest growth rate in Thailand Industrial Bearings Market in the foreseeable future, driven by rising investments in renewable energy projects, grid modernization, and power plant expansions, as they play a critical role in turbines, generators, and other heavy-duty equipment, making their demand surge alongside the country’s energy transition goals.Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data: Starting from 2021 to 2024
- Base Year: 2024
- Forecast Data until 2031
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Thailand Industrial Bearings Market Overview
- Thailand Industrial Bearings Market Outlook
- Thailand Industrial Bearings Market Forecast
- Historical Data and Forecast of Thailand Industrial Bearings Market Revenues, for the Period 2021-2031F
- Historical Data and Forecast of Thailand Industrial Bearings Market Revenues, by Bearing Type, for the Period 2021-2031F
- Historical Data and Forecast of Thailand Industrial Bearings Market Revenues, by End-User, for the Period 2021-2031F
- Thailand Industrial Bearings Market Revenue Ranking, by Companies
- Thailand Industrial Bearings Market Drivers and Restraints
- Thailand Industrial Bearings Market Porters Five Forces
- Thailand Industrial Bearings 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 Bearing Type
- Ball Bearings
- Roller Bearings
- Others
By End-User
- Automotive
- Manufacturing
- Construction
- Energy and Power
- Mining and Metal
- Aviation & Aerospace
- Others
Table of Contents
1. Executive Summary5. Thailand Industrial Bearings Market Trends8. Thailand Industrial Bearings Market Key Performance Indicators12. Key Strategic Recommendations
2. Introduction
3. Thailand Industrial Bearings Market Overview
4. Thailand Industrial Bearings Market Dynamics
6. Thailand Industrial Bearings Market Overview, by Bearing Type
7. Thailand Industrial Bearings Market Overview, by End-User
9. Thailand Industrial Bearings Market Opportunity Assessment
10. Thailand Industrial Bearings Market Competitive Landscape
11. Company Profiles
List of Figures
List of Tables
Companies Mentioned
- NSK Bearings (Thailand) Co., Ltd
- NTN Bearing - Thailand Co., Ltd.
- SKF (Thailand) Ltd.
- NRB Bearings Thailand Limited
- Schaeffler Manufacturing (Thailand) Co., Ltd.
- SWC Bearings Technology Co., Ltd.
- Nachi Technology (Thailand) Co., Ltd.
- NMB-Minebea Thai Ltd.
- Asahi Bearing (Thailand) Co.,Ltd.
- Igus Motion Plastics (Thailand) Co., Ltd
- JTEKT Asia Pacific Co., Ltd.
