Recent News (DJ)

Bearings Market to Reach USD 248.5 Billion by 2031 Driven by Demand for Low-Maintenance, High-Efficiency Bearings

EDBy
0


The global Bearings Market is experiencing significant growth, driven by the increasing demand for bearings with reduced maintenance needs, improved efficiency, and longer service life. These bearings are important for various applications across industries, from automotive and aerospace to industrial machinery and appliances. SNS Insider report estimates the market size to reach USD 248.5 billion by 2031, growing at a CAGR of 9.54% over the forecast period 2024-2031.

Download Sample Copy of Report: https://www.snsinsider.com/sample-request/1179 

Some of the Major Key Players in this Report:

  • NSK Ltd
  • Schaeffler AG
  • JTEKT Corporation
  • SKF
  • The Timken Company
  • NBI Group
  • NTN Bearing Corporation
  • RBC Bearings Incorporated
  • Regal Rexnord Corporation
  • LYC Bearings Corporationand

Growing Demand for Advanced Bearings Across Industries

The bearings market is Driven by the widespread presence of bearings in nearly every piece of machinery, from vehicles and agricultural equipment to household appliances and aerospace technology. This universality, integrated with the Growing demand for high-performance bearings that offer reduced maintenance, improved efficiency, and extended lifespans, is Driving market growth. The industry is growing in demand for specialized bearings tailored to specific applications. These include thrust bearings for handling axial loads, radial bearings for supporting radial loads, spherical roller bearings for accommodating misalignment, and many others. Each specialized bearing is meticulously engineered to deliver optimal performance and longevity in its intended use case.

Innovation and Technological Advancements Driving Market Expansion

The bearings industry is constantly evolving, with manufacturers focusing on continuous improvement in design, materials, and manufacturing processes. Advanced technologies such as Computer-Aided Design (CAD) and simulation are empowering manufacturers to develop highly efficient and reliable bearings, positively impacting the market landscape. The integration of electro-mechanical features directly into bearings is leading to performance enhancements while reducing size and cost. The demand for sensor-equipped bearings has also gained traction in recent times.

Recent Developments

April 2023: SKF partnered with Pagani, a high-end automotive manufacturer, to develop lightweight and low-friction bearings specifically designed for Pagani’s Hyper Car vehicle.

March 2023: NSK Bearings collaborated with the Tokyo Institute of Technology to establish an advanced tribology innovation research center, fostering open innovation and research in the field of tribology, the science of friction, lubrication, and wear.

Enquiry Before Buy: https://www.snsinsider.com/enquiry/1179 

Segment Analysis

By Type, the roller bearings segment held the dominant revenue share of more than 40%, and it is projected to maintain its leadership position throughout the forecast period. Roller bearings offer superior efficiency in reducing rotational friction and supporting radial and axial loads. Their ability to handle heavier radial loads compared to their counterparts makes them highly sought after in various industries, including capital equipment, automobiles, home appliances, and aerospace.

Ball bearings, known for their low-friction properties and suitability for both thrust and radial loads, are widely used in the automotive industry, particularly in two- and four-wheeled vehicles. The segment is anticipated to witness healthy growth over the coming years. Plain bearings, the simplest type with no rolling components, are often the preferred choice for applications requiring high shock load resistance and high load capacity. Their conformability makes them ideal for applications with oscillatory movements. The demand for plain bearings is expected to maintain a steady growth.

Regional Analysis

The Asia Pacific region holds the largest market share of more than 38% in 2023. This dominance is attributed to the rapid expansion of machinery and motor vehicle production in the region, this dominance is attributed to China, a key market within the region, experiencing a surge in machinery and motor vehicle production. This industrial growth translates to a heightened demand for bearings across various applications. India’s thriving construction and mining equipment market is another significant growth driver in the Asia Pacific region. The Growing construction and mining equipment market in India is expected to propel market growth in the coming years. The automotive aftermarket segment in this region is also anticipated to contribute significantly to the demand for bearings.

Europe and North America are expected to witness favorable growth due to Stable economic environments in these regions encouraging investment in various industries that rely heavily on bearings, such as automotive and manufacturing. The increasing adoption of high-value bearings, like large-diameter custom-built bearings used in heavy machinery and wind turbines, is propelling market growth in North America.

Buy Complete Report: https://www.snsinsider.com/checkout/1179 

Key Takeaways for the Bearings Market Study

Technological advancements, such as sensor integration and advanced materials, are leading to the development of innovative bearings that enhance performance and efficiency.

The Asia Pacific region is poised for the fastest growth, driven by the expansion of manufacturing and infrastructure development.

The bearings market offers promising prospects for manufacturers who can cater to the growing demand for specialized and sustainable bearing solutions.

This report empowers market participants, including manufacturers, distributors, and end-users, to make informed decisions and capitalize on the potential of the bearings market.

Contact Us:

Akash Anand – Head of Business Development & Strategy

[email protected]

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)



Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact [email protected]

ED

Large Format Printer Market Size Rise at US$ 12.20 billion, at a high CAGR of 4.9% by 2031 | EPSON, HP, Xerox, Fujifilm, Roland

Previous article

Queue Management System Market to Surpass USD 1455.08 Million by 2031, Propelled by Real-time Monitoring and Analytics

Next article

You may also like

Comments

Comments are closed.

More in Recent News (DJ)

The 2025 Global Women’s Summit was held in Beijing, China on October 13. The summit, themed “Shared Destiny: Accelerating the New Process of Women’s Comprehensive Development”, was attended by more than 110 heads of state, government and parliamentary leaders, including Iceland’s President Thomas Dotille, Dominica’s President Burton, Ghana’s President Mahama, Mozambique’s Prime Minister Levi and Sri Lanka’s Prime Minister Amalasuria. The Chinese president Xi Jinping delivered a speech titled “Carrying Forward the Spirit of the Beijing World Conference on Women and Accelerating the New Process of Women’s Development” at the opening ceremony of the summit, noting that women are important creators, promoters and inheritors of human civilization, and promoting the development of women’s causes is the common responsibility of the international community. Over the past three decades, China has been fulfilling this commitment. The fourth United Nations World Conference on Women was held in Beijing, China in September 1995. The Beijing Declaration and Programme of Action were adopted at the conference. The Beijing Declaration, with “equality, development and peace” as its main thread, affirms the achievements of the international community in improving the status of women and clearly points out the equal rights that women should enjoy in all areas of society. The Programme of Action elaborates on the main problems faced by women in various countries and sets out specific strategic goals and action plans to address these difficulties, covering key areas such as education, health, economy and politics. Their birth has driven progress in the field of women worldwide. Three decades have passed, and China has made remarkable achievements in the field of women worldwide, step by step, in line with the spirit of the Beijing Declaration and Programme of Action. As the world’s largest developing country, China has made remarkable historic achievements by integrating women’s causes into the overall development of the country. In 2020, China won the largest battle against poverty in human history. As many as 690 million Chinese women moved into a moderately prosperous society in the same year, achieving the poverty reduction target of the United Nations 2030 Agenda for Sustainable Development ahead of schedule. In the field of health care, China’s maternal mortality rate has dropped from 61.9 per 100,000 in 1995 to 14.3 per 100,000 in 2024, a decrease of 76.9%, according to the white paper on China’s practices and achievements in promoting the all-round development of women in the new era released by The State Council. In the field of culture and education, female students accounted for 50.76 percent of higher education students in 2024, up 14.15 percent from 1995. Among them, female postgraduate students accounted for 50.01%, up 22.43 percent from 1995. At present, China is playing a significant role in the field of women’s rights worldwide. In 2015, China and UNESCO jointly established the Girls’ and Women’s Education Prize, which has so far helped more than 20 projects in 19 countries take root; From 2021 to 2023, China has collaborated with UNESCO to carry out the “African Girls’ Health Education Project” in Nigeria, Uganda and other countries, exploring suitable local education models. The Spring Bud Project, which originated from China’s native public welfare model, is a typical example of China’s cooperation with international girls’ education. The project, led by the All-China Women’s Federation and initiated by the China Children and Teenagers’ Fund in 1989, has successfully extended its multi-model of “assistance + companionship + empowerment” to Southeast Asian countries such as Cambodia. In Cambodia’s pilot program, the Spring Bud Project not only provided financial assistance but also introduced comprehensive services such as skills training, mental health counseling and girl protection. In 2023, the Spring Bud Project was awarded the UNESCO Prize for Girls’ and Women’s Education, highlighting the high recognition of the Chinese model by the international community. In addition, since 2018, China has implemented more than 100 training programs for women and children in developing countries, carried out academic degree programs in women’s leadership, and trained nearly 4,000 women in the field. In September 2025, China will host training courses for more than 40 female officials from developing countries such as Pakistan and the Central African Republic, sharing experience in grassroots governance. From the Beijing Declaration in 1995 to the Global Women’s Summit in 2025, China has fulfilled this 30-year commitment and is believed to continue to promote the development of women’s causes globally and take them to new heights in the future.

By ED0