Sensor Bearings

Sensor Bearings

Global Sensor Bearings Market to Reach US$11.2 Billion by 2030

The global market for Sensor Bearings estimated at US$7.9 Billion in the year 2023, is expected to reach US$11.2 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030. Speed Functionality, one of the segments analyzed in the report, is expected to record a 5.8% CAGR and reach US$5.1 Billion by the end of the analysis period. Growth in the Temperature Functionality segment is estimated at 4.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.1 Billion While China is Forecast to Grow at 4.9% CAGR

The Sensor Bearings market in the U.S. is estimated at US$2.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2030 trailing a CAGR of 4.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.0% and 4.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.0% CAGR.

Global Sensor Bearings Market - Key Trends and Drivers Summarized

How Are Sensor Bearings Enhancing Mechanical Performance?

Sensor bearings integrate sensor technology directly into bearing units, allowing for real-time monitoring of critical parameters like speed, temperature, vibration, and load. These bearings are widely used across industries, including automotive, aerospace, manufacturing, and renewable energy, to enhance machinery efficiency, prevent downtime, and extend equipment lifespan. With the growing focus on predictive maintenance and the Industrial Internet of Things (IIoT), sensor bearings provide data that helps in making informed decisions about maintenance and performance optimization. As a result, sensor bearings have become essential components in modern mechanical systems, contributing to improved safety, reliability, and operational efficiency.

What Are the Key Segments in the Sensor Bearings Market?

Key product types include speed sensor bearings, temperature sensor bearings, and load sensor bearings, with speed sensor bearings leading the market due to their extensive use in automotive and industrial applications. Major applications encompass gearbox monitoring, wheel speed detection, motor drives, and conveyor systems, with wheel speed detection accounting for a significant share due to its critical role in automotive safety systems like ABS (anti-lock braking systems). The end-user industries include automotive, aerospace, industrial manufacturing, and energy, with the automotive sector holding the largest share due to the growing integration of sensor technology in vehicles for enhanced performance and safety.

How Are Sensor Bearings Being Utilized Across Industries?

In the automotive sector, sensor bearings are used in ABS, traction control systems, and electric drivetrains, providing accurate data for improved vehicle safety and performance. In the aerospace industry, these bearings monitor landing gear systems, flight control actuators, and engine components, ensuring safe and reliable operations. Industrial manufacturing utilizes sensor bearings in conveyor systems, robotics, and assembly lines to monitor load, speed, and temperature, reducing downtime and optimizing production. The renewable energy sector, particularly wind turbines, relies on sensor bearings to monitor turbine rotation, ensuring efficient power generation and timely maintenance. Additionally, sensor bearings are increasingly being adopted in IIoT applications, where real-time data analytics are used to enhance operational efficiency across various industries.

What Factors Are Driving the Growth in the Sensor Bearings Market?

The growth in the Sensor Bearings market is driven by several factors, including the increasing demand for predictive maintenance across industries, which has accelerated the adoption of sensor-based monitoring systems. The rise of IIoT and Industry 4.0 has further fueled demand for sensor bearings, as they provide real-time data critical for optimizing machinery performance. The expanding automotive sector, with a focus on vehicle safety and electrification, has increased the use of sensor bearings in ABS, electric powertrains, and advanced driver assistance systems (ADAS). Advancements in sensor technologies, including miniaturization and improved accuracy, have broadened the range of applications for sensor bearings, supporting their wider adoption. Additionally, the growing emphasis on energy efficiency and reduced operational costs is contributing to market expansion, as industries seek reliable solutions to improve equipment longevity.

Select Competitors (Total 33 Featured) -

• ABB
• Beijing Zhongxuan Bailian Technology Co., Ltd.
• Fersa Bearings
• Harbin Bearing Manufacturing Co., Ltd.
• JTEKT Corporation
• Mageba
• Nachi Europe GmbH
• NSK Ltd.
• NTN Corporation
• Schaeffler AG
• SKF
• The Timken Company
• Thermometrics Corporation
• Thomson Industries, Inc.
• Waukesha Bearings Corporation

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.