Bearings Market

Bearings Market Size, Share, and Growth Report by Product Type (Plain Bearing, Ball Bearing, Roller Bearing), by Type (Mounted Bearing, Unmounted Bearing), by Material Type (Metal, Plastic, Ceramic), by Component (Cages, Balls, Rollers, Rings), by Application (Construction, Aerospace, Automotive, Power Transmission, Oil and Gas), Geography Analysis and Competitive Landscape: Premium Insights, Industry Research, and Forecast From 2023 to 2032

Bearings Market Overview

The Global Bearings Market Reached A Valuation Of USD 139.23 Billion In 2022 And Is Expected To Surge To Approximately $354.61 Billion By 2032, Exhibiting A Robust Compound Annual Growth Rate (CAGR) Of 9.8% From 2023 To 2032.

Bearings Market Insights

The global bearings market has experienced significant growth driven by an upsurge in bearing usage across various sectors such as rolling mills, electric vehicles (EVs), and railways. Additionally, an increased demand for automotive electrification and the need for bearings in continuously variable transmissions (CVTs) have further contributed to the expansion of the global bearings market. However, the electrification of vehicles, fluctuating raw material prices, high maintenance costs, and bearing damage caused by electric vehicles have posed challenges to the global bearings industry. Nevertheless, the development of sensor bearing units, advancements in additive manufacturing technologies, and the increased use of innovative materials for bearing production have opened up lucrative opportunities, driving the growth of the global bearings market.

COVID-19 Impact on Bearings Market

The COVID-19 pandemic had a profound impact on the automotive industry, leading to a sharp decline in car sales, disruptions in the supply chain, and other challenges. As the automotive sector adapted by reconfiguring supply chains and production processes to support the manufacturing of critical medical supplies, light vehicle sales worldwide plummeted by 20% year-on-year, from 6.3 million in February 2019 to 5.07 million in February 2020. China, the initial epicenter of the virus, witnessed a significant 80% drop in sales in February, followed by South Korea, Japan, Western Europe, and other regions.

Bearings Market Segmentation

The global bearings market is categorized based on product, application, material, type, distribution channel, and component.

Product: The market encompasses roller bearings, ball bearings, and plain bearings, among others.
Application: Bearings are utilized in various applications such as oil & gas, agriculture, automotive, power transmission, construction, aerospace, and more.
Material: Bearings can be made from ceramic, plastic, and metal materials.
Type: They can be mounted or unmounted, with mounted bearings being fixed in a housing unit, while unmounted bearings are standalone.
Distribution Channel: Bearings can be acquired through offline or online channels.
Component: Bearings consist of components like cages, balls, rings, rollers, and others.

Bearings Market Dynamics

Drivers:

Increased Bearing Usage in Railways, Electric Vehicles, and Rolling Mills: The railway industry is focusing on extending track life and reducing costs by using bearings to reduce shocks and vibrations generated by traction motors and moving wheels. Electric vehicle manufacturers are employing bearings to enhance efficiency and increase driving range, while rolling mills rely on robust bearings for heavy-duty operations.
Growing Bearing Usage in Motors and Automotive Electrification: Bearings are crucial in motors, where they minimize mechanical losses and improve efficiency. In the context of automotive electrification, low-torque bearings are employed in continuously variable transmissions (CVTs) to enhance reliability and fuel efficiency.

Restraints:

High Initial Investment: Establishing a battery production plant requires substantial capital investment, especially in machinery and equipment, which can act as a barrier to entry.
Complex Production Processes: The intricate processes involved in bearing manufacturing, with various machines performing specialized tasks, contribute to increased costs and complexity.

Bearings Market Regional Analysis

The Asia Pacific region is anticipated to dominate the global bearings market, accounting for the largest market size during the forecast period. In 2022, Asia Pacific held a significant revenue share (39.9%) and established its dominance in the bearings market. By 2032, the region is projected to experience the most rapid revenue growth, surpassing USD 107.0 billion. Key contributors to this growth include China, with robust machinery and automotive manufacturing and a thriving aftermarket for industrial equipment and automobile maintenance. India’s flourishing market for mining and construction equipment is also expected to drive growth through 2032.

Competitive Landscape

Major players in the global bearings market include Brammer PLC, Harbin Bearing Manufacturing Co., Ltd., HKT Bearings Ltd., JTEKT Corporation, NBI Bearings Europe, NSK Global, NTN Corporation, RBC Bearings Inc., Rexnord Corporation, RHP Bearings, Schaeffler Group, SKF Corporation, and The Timken Company, among others.

This report categorizes the Bearings Market as follows,

Bearings Market by Product Type

Plain Bearing
Ball Bearing
- Four-point Contact
- Self-aligning
- Deep Groove
- Angular Contact
- Others
Roller Bearing
Others

Bearings Market by Type

Mounted Bearing
Unmounted Bearing

Bearings Market by Material

Metal
- Stainless Steel
- Chrome Steel
- Carbon Steel
- Brass
- Others
Plastic
Ceramic

Bearings Market by Distribution Channel

Offline
Online

Bearings Market by Component

Cages
Balls
Rollers
Rings
Others

Bearings Market by Application

Construction
Aerospace
Automotive
Power Transmission
Oil & Gas

Bearings Market, Regional Outlook

North America
- United States
- Canada
Europe
- France
- Germany
- UK
- Italy
- Rest of the Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of the APAC
Latin America
- Mexico
- Brazil
- Rest of Latin America
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of the Middle East & Africa

Bearings Market Report Scope
Report Attribute	Details
Market Size Value in 2022	USD 139.2 billion
Revenue Forecast in 2032	USD 354.61 billion
Growth Rate	CAGR of 9.8 % from 2023 to 2032
Base Year for Estimation	2022
Historical Data	2018 – 2022
Forecast Years	2023 – 2032
Quantitative Units	Revenue in USD million and CAGR from 2023 to 2032
Report Coverage	Revenue forecast, company ranking, Trends competitive landscape, and growth factors
Segments Covered	Product Type, Type, Material, Channel, Component, Application, and Region
Regional Scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country Scope	U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
Key Companies Profiled	Brammer PLC, Harbin Bearing Manufacturing Co., Ltd., HKT Bearings Ltd., JTEKT Corporation, NBI Bearings Europe, NSK Global, NTN Corporation, RBC Bearings Inc., Rexnord Corporation, RHP Bearings, Schaeffler Group, SKF Corporation, and The Timken Company.

Table of Content

Bearings Market Size, Share, Growth, and Forecast Report

1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Product Type
1.4.2. Type
1.4.3. Material
1.4.4. Distribution Channel
1.4.5. Component
1.4.6. Application

2. Bearings Market Overview
2.1. Introduction
2.2. Analysis by Product Type, 2018-2032 (US$ Billion)
2.3. Analysis by Type, 2018-2032 (US$ Billion)
2.4. Analysis by Material, 2018-2032 (US$ Billion)
2.5. Analysis by Distribution Channel, 2018-2032 (US$ Billion)
2.6. Analysis by Component, 2018-2032 (US$ Billion)
2.7. Analysis by Application, 2018-2032 (US$ Billion)
2.8. Market Analysis by Region, 2018-2032 (US$ Billion)

3. Bearings Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Product Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Product Type
3.6.2. Type
3.6.3. Material
3.6.4. Distribution Channel
3.6.5. Component
3.6.6. Application
3.6.7. Region
3.7. Value Chain Analysis

4. Bearings Market Competition Analysis
4.1. Bearings Market Share Analysis by Company, 2019 – 2022
4.1.1. Top 3 Players, 2019 – 2022
4.1.2. Top 6 Players, 2019 – 2022
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion and Distribution

5. Global Bearings Market Analysis by Product Type, Type, Materials, Distribution Channel, Components and Application, 2018-2032 (US$ Billion)
5.1. Product Type
5.1.1. Global Bearings Market Share, by Product Type, 2022 and 2032
5.1.2. Global Bearings Market Revenue, by Product Type, 2018-2032 (US$ Billion)
5.1.3. By Plain Bearing Market Analysis 2018-2032 (US$ Billion)
5.1.4. By Ball Bearing Market Analysis 2018-2032 (US$ Billion)
5.1.4.1. By Four-point Contact Market Analysis 2018-2032 (US$ Billion)
5.1.4.2. By Self-aligning Market Analysis 2018-2032 (US$ Billion)
5.1.4.3. By Deep Groove Market Analysis 2018-2032 (US$ Billion)
5.1.4.4. By Angular Contact Market Analysis 2018-2032 (US$ Billion)
5.1.5. By Roller Bearing Market Analysis 2018-2032 (US$ Billion)
5.2. Type
5.2.1. Global Bearings Market Share, by Type, 2022 and 2032
5.2.2. Global Bearings Market Revenue, by Type, 2018-2032 (US$ Billion)
5.2.3. By Mounted Bearing Market Analysis 2018-2032 (US$ Billion)
5.2.4. By Unmounted Bearing Market Analysis 2018-2032 (US$ Billion)
5.3. Material
5.3.1. Global Bearings Market Share, by Material, 2022 and 2032
5.3.2. Global Bearings Market Revenue, by Material, 2018-2032 (US$ Billion)
5.3.3. By Metal Market Analysis 2018-2032 (US$ Billion)
5.3.3.1. By Stainless Steel Market Analysis 2018-2032 (US$ Billion)
5.3.3.2. By Chrome Steel Market Analysis 2018-2032 (US$ Billion)
5.3.3.3. By Carbon Steel Market Analysis 2018-2032 (US$ Billion)
5.3.3.4. By Brass Market Analysis 2018-2032 (US$ Billion)
5.3.4. By Plastic Market Analysis 2018-2032 (US$ Billion)
5.3.5. By Ceramic Market Analysis 2018-2032 (US$ Billion)
5.4. Distribution Channel
5.4.1. Global Bearings Market Share, by Distribution Channel, 2022 and 2032
5.4.2. Global Bearings Market Revenue, by Distribution Channel, 2018-2032 (US$ Billion)
5.4.3. By Offline Market Analysis 2018-2032 (US$ Billion)
5.4.4. By Online Market Analysis 2018-2032 (US$ Billion)
5.5. Component
5.5.1. Global Bearings Market Share, by Component, 2022 and 2032
5.5.2. Global Bearings Market Revenue, by Component, 2018-2032 (US$ Billion)
5.5.3. By Cages Market Analysis 2018-2032 (US$ Billion)
5.5.4. By Balls Market Analysis 2018-2032 (US$ Billion)
5.5.5. By Rollers Market Analysis 2018-2032 (US$ Billion)
5.5.6. By Rings Market Analysis 2018-2032 (US$ Billion)
5.6. Application
5.6.1. Market Share, by Application, 2022 and 2032
5.6.2. Market Revenue, by Application, 2018-2032 (US$ Billion)
5.6.3. By Construction Market Analysis 2018-2032 (US$ Billion)
5.6.4. By Aerospace Market Analysis 2018-2032 (US$ Billion)
5.6.5. By Automotive Market Analysis 2018-2032 (US$ Billion)
5.6.6. By Power Transmission Market Analysis 2018-2032 (US$ Billion)
5.6.7. By Oil & Gas Market Analysis 2018-2032 (US$ Billion)

6. Global Bearings Market Product Type Analysis by Region, 2018-2032 (US$ Billion)
6.1. Plain Bearing Market Analysis 2018-2032 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Ball Bearing Market Analysis 2018-2032 (US$ Billion)
6.2.1. Four-point Contact
6.2.2. Self-aligning
6.2.3. Deep Groove
6.2.4. Angular Contact
6.3. Roller Bearing Market Analysis 2018-2032 (US$ Billion)

7. Global Bearings Market Type Analysis by Region, 2018-2032 (US$ Billion)
7.1. Mounted Bearing Market Analysis 2018-2032 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Unmounted Bearing Market Analysis 2018-2032 (US$ Billion)

8. Global Bearings Market Material Analysis by Region, 2018-2032 (US$ Billion)
8.1. Metal Market Analysis 2018-2032 (US$ Billion)
8.1.1. Stainless Steel
8.1.2. Chrome Steel
8.1.3. Carbon Steel
8.1.4. Brass
8.1.4.1. North America
8.1.4.2. Europe
8.1.4.3. Asia Pacific
8.1.4.4. Latin America
8.1.4.5. Middle East & Africa
8.2. Plastic Market Analysis 2018-2032 (US$ Billion)
8.3. Ceramic Market Analysis 2018-2032 (US$ Billion)

9. Global Bearings Market Distribution Channel Analysis by Region, 2018-2032 (US$ Billion)
9.1. Offline Market Analysis 2018-2032 (US$ Billion)
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Latin America
9.1.5. Middle East & Africa
9.2. Online Market Analysis 2018-2032 (US$ Billion)

10. Global Bearings Market Component Analysis by Region, 2018-2032 (US$ Billion)
10.1. Cages Market Analysis 2018-2032 (US$ Billion)
10.1.1. North America
10.1.2. Europe
10.1.3. Asia Pacific
10.1.4. Latin America
10.1.5. Middle East & Africa
10.2. Balls Market Analysis 2018-2032 (US$ Billion)
10.3. Rollers Market Analysis 2018-2032 (US$ Billion)
10.4. Rings Market Analysis 2018-2032 (US$ Billion)

11. Global Bearings Market Application Analysis by Region, 2018-2032 (US$ Billion)
11.1. Construction Market Analysis 2018-2032 (US$ Billion)
11.1.1. North America
11.1.2. Europe
11.1.3. Asia Pacific
11.1.4. Latin America
11.1.5. Middle East & Africa
11.2. Aerospace Market Analysis 2018-2032 (US$ Billion)
11.3. Automotive Market Analysis 2018-2032 (US$ Billion)
11.4. Power Transmission Market Analysis 2018-2032 (US$ Billion)
11.5. Oil & Gas Market Analysis 2018-2032 (US$ Billion)

12. Bearings Market Analysis by Geography, 2018-2032 (US$ Billion)
12.1. North America Bearings Market Analysis 2018-2032 (US$ Billion)
12.1.1. U.S. Bearings Market Analysis 2018-2032 (US$ Billion)
12.1.1.1. Product Type
12.1.1.2. Type
12.1.1.3. Material
12.1.1.4. Distribution Channel
12.1.1.5. Component
12.1.1.6. Application
12.1.2. Canada Bearings Market Analysis 2018-2032 (US$ Billion)
12.1.3. Mexico Bearings Market Analysis 2018-2032 (US$ Billion)

12.2. Europe Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.1. UK Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.1.1. Product Type
12.2.1.2. Type
12.2.1.3. Material
12.2.1.4. Distribution Channel
12.2.1.5. Component
12.2.1.6. Application
12.2.2. France Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.3. Germany Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.4. Spain Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.5. Russia Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.6. Italy Bearings Market Analysis 2018-2032 (US$ Billion)
12.2.7. Rest of Europe Bearings Market Analysis 2018-2032 (US$ Billion)

12.3. Asia Pacific Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.1. China Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.1.1. Product Type
12.3.1.2. Type
12.3.1.3. Material
12.3.1.4. Distribution Channel
12.3.1.5. Component
12.3.1.6. Application
12.3.2. Japan Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.3. South Korea Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.4. India Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.5. Australia Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.6. Southeast Asia Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.7. Taiwan Bearings Market Analysis 2018-2032 (US$ Billion)
12.3.8. Rest of Asia Pacific Bearings Market Analysis 2018-2032 (US$ Billion)

12.4. Latin America Bearings Market Analysis 2018-2032 (US$ Billion)
12.4.1. Brazil Bearings Market Analysis 2018-2032 (US$ Billion)
12.4.1.1. Product Type
12.4.1.2. Type
12.4.1.3. Material
12.4.1.4. Distribution Channel
12.4.1.5. Component
12.4.1.6. Application
12.4.2. Argentina Bearings Market Analysis 2018-2032 (US$ Billion)
12.4.3. Rest of Latin America Bearings Market Analysis 2018-2032 (US$ Billion)

12.5. Middle East Bearings Market Analysis 2018-2032 (US$ Billion)
12.5.1. Israel Bearings Market Analysis 2018-2032 (US$ Billion)
12.5.1.1. Product Type
12.5.1.2. Type
12.5.1.3. Material
12.5.1.4. Distribution Channel
12.5.1.5. Component
12.5.1.6. Application
12.5.2. Turkey Bearings Market Analysis 2018-2032 (US$ Billion)
12.5.3. Saudi Arabia Bearings Market Analysis 2018-2032 (US$ Billion)
12.5.4. UAE Bearings Market Analysis 2018-2032 (US$ Billion)
12.5.5. Rest of Middle East Bearings Market Analysis 2018-2032 (US$ Billion)

12.6. Africa Bearings Market Analysis 2018-2032 (US$ Billion)
12.6.1. Egypt Bearings Market Analysis 2018-2032 (US$ Billion)
12.6.1.1. Product Type
12.6.1.2. Type
12.6.1.3. Material
12.6.1.4. Distribution Channel
12.6.1.5. Component
12.6.1.6. Application
12.6.2. South Africa Bearings Market Analysis 2018-2032 (US$ Billion)
12.6.3. Rest of Africa Bearings Market Analysis 2018-2032 (US$ Billion)

13. Company Profiles
13.1. Brammer PLC
13.1.1. Company Overview
13.1.2. Financial Performance
13.1.3. Product Benchmarking
13.1.4. Strategic Initiatives
13.2. Harbin Bearing Manufacturing Co Ltd
13.3. HKT Bearings Ltd
13.4. JTEKT Corporation
13.5. NBI Bearings Europe
13.6. NSK Global
13.7. NTN Corporation
13.8. RBC Bearings Inc.
13.9. Rexnord Corporation
13.10. RHP Bearings
13.11. Schaeffler Group
13.12. SKF Corporation
13.13. The Timken Company

14. COVID-19 Impact Analysis
14.1. Global Bearings Market, 2020 – 2032, Pre-V/S Post COVID 19
14.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Bearings Market Size In 2022, By Scenario
14.3. Impact on Supply Chain and Production in Bearings Market
14.4. Impact on Import and Export

15. Import-Export Analysis
15.1. North America Bearings Import-Export, 2018 – 2022
15.2. Europe Bearings Import-Export, 2018 – 2022
15.3. Asia Pacific Bearings Import-Export, 2018 – 2022
15.4. Latin America Bearings Import-Export, 2018 – 2022
15.5. Middle East America Bearings Import-Export, 2018 – 2022
15.6. Africa Bearings Import-Export, 2018 – 2022

16. Bearings Marketing Channel Analysis
16.1. Marketing Channel
16.1.1. Direct Marketing
16.1.2. Indirect Marketing
16.1.3. Development Trend
16.2. Market Positioning

17. Bearings Manufacturing Cost Analysis
17.1. Key Raw Materials
17.2. Key Raw Material Suppliers
17.3. Market Concentration Rate
17.4. Manufacturing Cost Structure
17.5. Process Analysis

18. Conclusion

By Product Type

Plain Bearing
Ball Bearing
- Four-point Contact
- Self-aligning
- Deep Groove
- Angular Contact
- Others
Roller Bearing
Others

By Type

Mounted Bearing
Unmounted Bearing

By Material Type

Metal
- Stainless Steel
- Chrome Steel
- Carbon Steel
- Brass
- Others
Plastic
Ceramic

By Distribution Channel Type

Offline
Online

By Component Type

Cages
Balls
Rollers
Rings
Others

By Application Type

Construction
Aerospace
Automotive
Power Transmission
Oil & Gas

Frequently Asked Questions

As of 2022, BMI estimated the Bearing market to have reached USD 139.23 billion.

From 2023 to 2032, Bearing demand is likely to surge at a 9.8 % compound annual growth rate (CAGR)

Brammer PLC, Harbin Bearing Manufacturing Co., Ltd., HKT Bearings Ltd., JTEKT Corporation, NBI Bearings Europe, NSK Global, NTN Corporation, RBC Bearings Inc

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America are the regions included in the bearing market study.

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