Plain Bearings

Plain Bearings

Global Plain Bearings Market to Reach US$18.0 Billion by 2030

The global market for Plain Bearings estimated at US$12.4 Billion in the year 2023, is expected to reach US$18.0 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2023-2030. Journal Plain Bearings, one of the segments analyzed in the report, is expected to record a 6.3% CAGR and reach US$8.2 Billion by the end of the analysis period. Growth in the Linear Plain Bearings segment is estimated at 5.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.5 Billion While China is Forecast to Grow at 6.9% CAGR

The Plain Bearings market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.5 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.6% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.

Global Plain Bearings Market - Key Trends & Drivers Summarized

Plain bearings, also known as bushings or sleeve bearings, play a pivotal role in the mechanical industry by supporting loads and facilitating the sliding or rotational motion between two machine components. These bearings, primarily characterized by their lack of rolling elements, stand out for their simplicity, reliability, and long service life, especially in high-load industrial applications. Simplest of all bearings, plain bearings are used in applications with continuous motion and light loads, such as crankshafts. Mostly finding applications in rectification of component misalignments, plain bearings are made up of cylindrical inserts. Raw materials used in the manufacture of plain bearings include white metal, cast iron, special plastics, and phosphor-bronze. Plain bearings are classified as spherical bushings, pilloballs, polymer plain bearings, and spherical plain bearings.

Product innovations and technological advancements are setting a perfect landscape for lucrative opportunities for the global plain bearings market. Advances like effective seal and lubrication technologies along with introduction of products with high stability, reduced energy usage, low friction and lightweight nature are buoying the demand for plain bearings. The introduction of sophisticated spherical rollers is leading to performance gains and reducing maintenance costs. In addition, self-lubricating options are eliminating the requirement of external lubrication while composite plain bearings and maintenance-free spherical plain bearings are gaining popularity. Market growth is also favored by increasing uptake of ceramic ball components owing to their enhanced strength and high adoption of smart bearings or plain bearings featuring compressed air cushioning. Bearing applications are set to benefit from innovations leading to availability of plain bearings marked by high speeds, reduced wear and superior durability. Innovations in material science have led to the development of advanced composite materials that enhance the performance and longevity of plain bearings.

The growth in the plain bearings market is driven by several factors, including strong focus on efficient heavy-loading systems, rapid industrialization across developing nations, increasing automobile production, shift towards wind energy, and technological advancements. Rising uptake of plain bearings in numerous industries remains a primary driver for the global market, propelling the demand from applications like elevators, production lines and conveyor belts. The high performance and durability makes plain bearings an appealing option for diverse industry verticals such as automotive, aerospace, oilfield machinery, construction, energy, and agricultural/ gardening machinery. Rising vehicle production on account of increasing demand for traditional automobiles and EVs coupled with favorable regulations and zero-emission initiatives are powering plain bearing demand. The market is slated to move ahead and gain momentum with availability of sophisticated seal and lubrication technologies intended to reduce friction and drive energy efficiency. Product innovations and technological advancements are opening new growth opportunities by leading to smart bearings with enhanced performance and reduced maintenance costs. The rise of Industry 4.0 along with increasing adoption of emerging technologies are augmenting the demand for plain bearings with capability to collect process data to support monitoring and predictive maintenance applications. These factors collectively ensure the steady expansion of the plain bearings market, addressing the evolving needs of industries for reliable and cost-effective bearing solutions.

Select Competitors (Total 123 Featured) -

• GGB Bearing Technology
• Minebea Mitsumi Inc.
• NSK Ltd.
• NTN Corporation
• RBC Bearings Incorporated
• Schaeffler Technologies AG & Co. KG
• SGL Group
• SKF Group
• THK Co. Ltd.
• Timken Company

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