Global Bearings Market 2024-2028

Global Bearings Market 2024-2028

The bearings market is forecasted to grow by USD 18.79 bn during 2023-2028, accelerating at a CAGR of 4.06% during the forecast period. The report on the bearings market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by strong demand for high-quality bearings, the growing adoption of automation in the manufacturing process, and APAC acting as a market enabler.

Technavio's bearings market is segmented as below:

By Product

• Anti-friction bearings
• Magnetic bearings
• Other bearings

By End-user

• Automotive industry
• Heavy industry
• ARS industry
• Others

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• Middle East and Africa

This study identifies the increasing adoption of electric vehicles as one of the prime reasons driving the bearings market growth during the next few years. Also, the emergence of OEMs enhancing production activities to achieve higher performance levels and strong demand for high-quality bearings will lead to sizable demand in the market.

The report on the bearings market covers the following areas:

• Bearings market sizing
• Bearings market forecast
• Bearings market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bearings market vendors that include AB SKF, ASAHI SEIKO Co. Ltd., C and U Group, Calnetix Technologies LLC, HKT BEARINGS Ltd., Italcuscinetti S.p.A., JTEKT Corp., Luoyang JCB Bearing Technology Co. Ltd., LYC Bearing Corp., MinebeaMitsumi Inc., NACHI FUJIKOSHI Corp., NBI Bearings Europe SA, NSK Ltd., NTN Corp., RBC Bearings Inc., Regal Rexnord Corp., Schaeffler AG, SRIJI GOPALJI INDUSTRIES PVT LTD., THB Bearings Co. Ltd., The Timken Co., and Wafangdian Guangyang Bearing Group Co. Ltd.. Also, the bearings market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape and an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.