Market Research

Bearings Market

Best Price Guarantee Length Publisher Published Date SKU
from $4,850 140 Pages Fortune Business Insights Pvt. Ltd. October, 2024 FOB19260655
Best Price Guarantee
Price from $4,850
Length 140 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date October, 2024
SKU FOB19260655

Bearings Market



Growth Factors of Bearings Market

The bearings market size was valued at USD 41.58 billion in 2022, and the market is now projected to grow from USD 43.98 billion in 2023 to USD 77.90 billion by 2030, exhibiting a CAGR of 8.5% during the forecast period of 2023-2030.

The bearings market growth was negatively impacted by the COVID-19 pandemic, which reduced the use of bearings in automobiles and aircraft. Nevertheless, there was a higher demand for application-specific bearings in healthcare products such as ventilators and diagnostic machinery. The increase in internet usage led to the enhancement of the e-commerce system where bearings were required in transportation and product handling. It was characterized by inconvenient access to raw materials and the overall problem of implementing safety measures. In conclusion, the pandemic affected the industry both negatively and positively.

The bearings market share is expected to be propelled by the need for precision bearings, particularly in automobiles and heavy industries. These components provide high accuracy and reliability levels, meaning they can rotate freely and increase performance. Automation in manufacturing processes raises the demand for delicate movement and little or no time is lost due to equipment adjustments. High accurate bearing is critical in increasing the efficiency of automated machines and robotics. So, the increasing significance spells out today’s growing needs in the modern industrial context.

Further, the bearings market is expanding because of increasing demand for small single-aisle aircraft and helicopters in emerging economies. Economic development is one of the most compelling factors driving demand for transportation and more importantly the short distance transport solutions. The growth of e-commerce drives the demand for smaller aircraft to handle last-mile deliveries. The utilization of technology and efficiency with sustainability concerns such as fuel efficiency, make it necessary for creating innovative aircraft bearings. This trend indicates how bearings are important in the aviation industry.

Comprehensive Analysis of Bearings Market

Due to their market segmentation, the bearings market and machinery and equipment industry are rising. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the machinery and equipment industry. These segmentations are methodically segregated by types and applications. The type includes, Ball Bearings, Roller Bearings and Others. The application includes, Automotive, Industrial Machinery, Aerospace and Others.

Asia Pacific is projected to dominate the bearings market due to the adoption of the industrial Internet of Things and automation in manufacturing. China led the region in 2022, benefiting from established manufacturing facilities and supportive government policies. Increased new industrial capacity is also improving competitive capabilities in automotive and precision engineering industries. The increase in industrialization in China, India, Japan and other South Asian countries is boosting the demand for roller and ball bearings. Further, the global inclination towards automation is creating a market for these parts for smooth operations in production lines.

The top players in the market play a crucial role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include, NSK Ltd (Japan), Nachi-Fujikoshi Corp (Japan), Myopic GmbH (Germany), LYC Bearings Corporation (China), Luoyang Huigong Bearings Technology Co., Ltd. (China), Koyo (Jtekt Corporation) (Japan), ISB Industries (Italy), NTN Corporation (Japan), SKF (Sweden), The Timken Company (U.S.), THB Bearings (China). These market players provide a level-playing competitive landscape.

In April 2023, SKF the world’s leading bearing manufacturing company came up with Pagani S.P.A, an eminent luxury automotive manufacturer to develop lightweight low-friction bearings for the limited edition supercar known as Pagani Hypercar.

Segmentation Table

Global Bearings Market Scope

Study Period 2019-2030

Base Year 2022

Forecast Period 2023-2030

Growth Rate CAGR of 8.5% from 2023 to 2030

Historical Period 2019-2021

Unit Value (USD Billion)

Segmentation By Type, Application, and Region

By Type Ball Bearings

Roller Bearings

Others (Plain Bearing, Journal Bearing)

By Application Automotive

Industrial Machinery

Aerospace

Others (Agriculture)

By Region North America (By Type, By Application, By Country)
  • U.S. (By Application)
  • Canada (By Application)
Europe (By Type, By Application, By Country)
  • Germany (By Application)
  • U.K. (By Application)
  • France (By Application)
  • Italy (By Application)
  • Spain (By Application)
  • Rest of Europe
Asia Pacific (By Type, By Application, By Country)
  • China (By Application)
  • India (By Application)
  • Japan (By Application)
  • South Korea (By Application)
  • Rest of Asia Pacific
Middle East & Africa (By Type, By Application, By Country)
  • GCC (By Application)
  • South Africa (By Application)
  • Rest of the Middle East & Africa
Latin America (By Type, By Application, By Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America


1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
3.3. Impact of COVID-19
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Bearings Key Players Market Share/Ranking, 2022
5. Global Bearings Market Size Estimates and Forecasts, By Segments, 2019-2030
5.1. Key Findings
5.2. By Type (USD)
5.2.1. Ball Bearing
5.2.2. Roller Bearing
5.2.3. Others (Plain & Journal Bearings)
5.3. By Application (USD)
5.3.1. Automotive
5.3.2. Industrial Machinery
5.3.3. Aerospace & Defense
5.3.4. Others (Agriculture & Etc.)
5.4. By Country (USD)
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Middle East & Africa
5.4.5. Latin America
6. North America Bearings Market Size Estimates and Forecasts, By Segments, 2019-2030
6.1. Key Findings
6.2. By Type (USD)
6.2.1. Ball Bearing
6.2.2. Roller Bearing
6.2.3. Others (Plain & Journal Bearings)
6.3. By Application (USD)
6.3.1. Automotive
6.3.2. Industrial Machinery
6.3.3. Aerospace & Defense
6.3.4. Others (Agriculture & Etc.)
6.4. By Country (USD)
6.4.1. U.S.
6.4.1.1. By Application
6.4.1.1.1. Automotive
6.4.1.1.2. Industrial Machinery
6.4.1.1.3. Aerospace & Defense
6.4.1.1.4. Others (Agriculture & Etc.)
6.4.2. Canada
6.4.2.1. By Application
6.4.2.1.1. Automotive
6.4.2.1.2. Industrial Machinery
6.4.2.1.3. Aerospace & Defense
6.4.2.1.4. Others (Agriculture & Etc.)
7. Europe Bearings Market Size Estimates and Forecasts, By Segments, 2019-2030
7.1. Key Findings
7.2. By Type (USD)
7.2.1. Ball Bearing
7.2.2. Roller Bearing
7.2.3. Others (Plain & Journal Bearings)
7.3. By Application (USD)
7.3.1. Automotive
7.3.2. Industrial Machinery
7.3.3. Aerospace & Defense
7.3.4. Others (Agriculture & Etc.)
7.4. By Country (USD)
7.4.1. Germany
7.4.1.1. By Application
7.4.1.1.1. Automotive
7.4.1.1.2. Industrial Machinery
7.4.1.1.3. Aerospace & Defense
7.4.1.1.4. Others (Agriculture & Etc.)
7.4.2. U.K.
7.4.2.1. By Application
7.4.2.1.1. Automotive
7.4.2.1.2. Industrial Machinery
7.4.2.1.3. Aerospace & Defense
7.4.2.1.4. Others (Agriculture & Etc.)
7.4.3. France
7.4.3.1. By Application
7.4.3.1.1. Automotive
7.4.3.1.2. Industrial Machinery
7.4.3.1.3. Aerospace & Defense
7.4.3.1.4. Others (Agriculture & Etc.)
7.4.4. Italy
7.4.4.1. By Application
7.4.4.1.1. Automotive
7.4.4.1.2. Industrial Machinery
7.4.4.1.3. Aerospace & Defense
7.4.4.1.4. Others (Agriculture & Etc.)
7.4.5. Spain
7.4.5.1. By Application
7.4.5.1.1. Automotive
7.4.5.1.2. Industrial Machinery
7.4.5.1.3. Aerospace & Defense
7.4.5.1.4. Others (Agriculture & Etc.)
7.4.6. Rest of Europe
8. Asia Pacific Bearings Market Size Estimates and Forecasts, By Segments, 2019-2030
8.1. Key Findings
8.2. By Type (USD)
8.2.1. Ball Bearing
8.2.2. Roller Bearing
8.2.3. Others (Plain & Journal Bearings)
8.3. By Application (USD)
8.3.1. Automotive
8.3.2. Industrial Machinery
8.3.3. Aerospace & Defense
8.3.4. Others (Agriculture & Etc.)
8.4. By Country (USD)
8.4.1. China
8.4.1.1. By Application
8.4.1.1.1. Automotive
8.4.1.1.2. Industrial Machinery
8.4.1.1.3. Aerospace & Defense
8.4.1.1.4. Others (Agriculture & Etc.)
8.4.2. India
8.4.2.1. By Application
8.4.2.1.1. Automotive
8.4.2.1.2. Industrial Machinery
8.4.2.1.3. Aerospace & Defense
8.4.2.1.4. Others (Agriculture & Etc.)
8.4.3. Japan
8.4.3.1. By Application
8.4.3.1.1. Automotive
8.4.3.1.2. Industrial Machinery
8.4.3.1.3. Aerospace & Defense
8.4.3.1.4. Others (Agriculture & Etc.)
8.4.4. South Korea
8.4.4.1. By Application
8.4.4.1.1. Automotive
8.4.4.1.2. Industrial Machinery
8.4.4.1.3. Aerospace & Defense
8.4.4.1.4. Others (Agriculture & Etc.)
8.4.5. Rest of Asia Pacific
9. Middle East & Africa Bearings Market Size Estimates and Forecasts, By Segments, 2019-2030
9.1. Key Findings
9.2. By Type (USD)
9.2.1. Ball Bearing
9.2.2. Roller Bearing
9.2.3. Others (Plain & Journal Bearings)
9.3. By Application (USD)
9.3.1. Automotive
9.3.2. Industrial Machinery
9.3.3. Aerospace & Defense
9.3.4. Others (Agriculture & Etc.)
9.4. By Country (USD)
9.4.1. GCC
9.4.1.1. By Application
9.4.1.1.1. Automotive
9.4.1.1.2. Industrial Machinery
9.4.1.1.3. Aerospace & Defense
9.4.1.1.4. Others (Agriculture & Etc.)
9.4.2. South Africa
9.4.2.1. By Application
9.4.2.1.1. Automotive
9.4.2.1.2. Industrial Machinery
9.4.2.1.3. Aerospace & Defense
9.4.2.1.4. Others (Agriculture & Etc.)
9.4.3. Rest of Middle East & Africa
10. Latin America Bearings Market Size Estimates and Forecasts, By Segments, 2019-2030
10.1. By Type (USD)
10.1.1. Ball Bearing
10.1.2. Roller Bearing
10.1.3. Others (Plain & Journal Bearings)
10.2. By Application (USD)
10.2.1. Automotive
10.2.2. Industrial Machinery
10.2.3. Aerospace & Defense
10.2.4. Others (Agriculture & Etc.)
10.3. By Country (USD)
10.3.1. Brazil
10.3.1.1. By Application
10.3.1.1.1. Automotive
10.3.1.1.2. Industrial Machinery
10.3.1.1.3. Aerospace & Defense
10.3.1.1.4. Others (Agriculture & Etc.)
10.3.2. Mexico
10.3.2.1. By Application
10.3.2.1.1. Automotive
10.3.2.1.2. Industrial Machinery
10.3.2.1.3. Aerospace & Defense
10.3.2.1.4. Others (Agriculture & Etc.)
10.3.3. Rest of Latin America
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. NSK Ltd
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.1.3.1. Key Details (Key details are consolidated data and not product/service specific)
11.1.1.3.1.1. Employee Size
11.1.1.3.1.2. Past and Current Revenue
11.1.1.3.1.3. Geographical Share
11.1.1.3.1.4. Business Segment Share
11.1.1.3.1.5. Recent Developments
11.2. Nachi-Fujikoshi Corp
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. Myopic GmbH
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. LYC Bearings Corporation
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Luoyang Huigong Bearings Technology Co., Ltd.
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Koyo (JTKT corporation)
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. ISB Industries
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. NTN Corporation
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. SKF Bearings
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. The Timken Company
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Developments
11.11. THB Bearings
11.11.1. Overview
11.11.1.1. Key Management
11.11.1.2. Headquarters
11.11.1.3. Offerings/Business Segments
11.11.2. Key Details (Key details are consolidated data and not product/service specific)
11.11.2.1. Employee Size
11.11.2.2. Past and Current Revenue
11.11.2.3. Geographical Share
11.11.2.4. Business Segment Share
11.11.2.5. Recent Developments

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