Bearing Market by Material (Ceramic, Metal, and Plastic), Machine Type, Product Type, Bearing Type, Distribution Channel, End User and Geography - Global Industry Analysis, Opportunities and Forecast up to 2026

The global bearing market size was valued at $115.20 billion in 2020, and is projected to reach $174.83 billion by 2026, growing at a CAGR of 7.2% during the forecast period.

• The global bearing market is gaining more importance owing to the rising utilization of bearing products in various end-use industries, rolling mills, and electric vehicles, rise in demand for specialized bearing solutions, and developing infrastructure of wind turbines.

• Additionally, the technological developments have improved the overall efficiency of the bearing products in the automobile sector and have enhanced the shelf life of products. For instance, NSK has developed gearbox bearing that offers low maintenance and enhanced reliability in railway engines.

• However, the price volatility of raw materials and need for regular maintenance to avoid failure and prolong lifespan are the factors that hamper the growth of the bearing market.

Bearing is a type of machine element that is used to support relative motion and helps to reduce friction that is caused between moving parts. Bearings are mechanical devices that are employed to reduce friction between rotating equipment. They are the central part in various automobiles that allow the desired motion and compel relative motion. Further, they ensure efficiency and speed enhancement of the vehicle.

By End User, the Automotive Segment is Projected to show Strong Presence in the Global Market

The Automotive segment made huge revenue in 2020 and growing its prominence during the forecast period. The high share of this segment can be attributed to high automotive production, globally. Also, the demand for vehicles with technologically advanced solutions is escalating, thus, leading to rise in vehicle manufacturing that necessitates instrumented products. The growth in demand for highly advanced vehicles and the subsequent increase in the capabilities of the vehicles has escalated the demand for bearing in the automotive industry. Additionally, the automotive aftermarket segment is also anticipated to boost at a subsequently higher CAGR over the forecast period, thereby further bolstering the demand for bearings.

By Geography, Asia Pacific Region is Projected to Strong Presence in the Global Market

Asia Pacific dominated the bearings market and accounted for the largest revenue share during the forecast period. China is one of the major markets, and the sale in the country is expected to catapult over the foreseeable years stimulated by the rapid expansion of machinery and motor vehicle production coupled with a strong aftermarket for industrial equipment and motor vehicle repair. Moreover, the robust construction and mining equipment market in India is estimated to facilitate growth.

List of the Key Players Profiled in the Market Include:
• Danaher
• Iljin Bearing
• JTEKT Corporation
• MinebeaMitsumi Inc.
• NSK Ltd
• NTN Corporation
• RBC Bearings Incorporated
• Rexnord Corporation
• RKB Bearing
• Schaeffler AG
• SKF
• THK Co. Ltd.
• Timken
• Wafangdian Bearing Co., Ltd

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Material:
• Ceramic
• Metal
• Plastic

Market by, Machine Type:
• Aerospace Machinery
• Electric Vehicles
• Industrial Machinery
• Internal Combustion Engine (ICE) Vehicles

Market by, Product Type:
• Ball Bearing
• Roller Bearing
• Plain Bearing
• Other Products

Market by, Bearing Type:
• Mounted Bearing
• Unmounted Bearing

Market by, Distribution Channel:
• Original equipment manufacturers (OEMs)
• Aftermarket

Market by, End User:
• Automotive
• Industrial
• Aerospace & Defense
• Agriculture
• Construction
• Electrical
• Oil & Gas
• Other End Users

Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview   
    1.1 Introduction  
    1.2 Research Objectives 
    1.3 Market Segmentation 
    1.4 Stakeholders  
    1.5 List of Acronyms  
     
2 Executive Summary   
     
3 Research Methodology  
    3.1 Identification of Data 
    3.2 Evaluation of Market Dynamics
    3.3 Collaboration of Data 
    3.4 Verification and Analysis 
    3.5 Data Sources   
    3.6 Assumptions  
     
4 Market Dynamics   
    4.1 Market Drivers  
            4.1.1 Rise in Demand for Specialized Bearing Solutions
            4.1.2 Developing Infrastructure of Wind Turbines
            4.1.3 Increasing Demand for Electric Vehicles
    4.2 Market Restraints  
            4.2.1 Fluctuating Raw Material Prices
    4.3 Market Opportunities 
            4.3.1 Rise in Development of Additive Manufacturing Technologies
    4.4 Market Challenges  
            4.4.1 Increasing Vehicle Electrification
    4.5 Impact of COVID-19 on Bearing Market
     
5 Porter's Five Force Analysis  
    5.1 Bargaining Power of Suppliers 
    5.2 Bargaining Power of Buyers 
    5.3 Threat of New Entrants 
    5.4 Threat of Substitutes 
    5.5 Competitive Rivalry in the Market
     
6 Global Bearing Market by, Material 
    6.1 Overview  
    6.2 Ceramic   
    6.3 Metal   
    6.4 Plastic   
     
7 Global Bearing Market by, Machine Type 
    7.1 Overview  
    7.2 Aerospace Machinery 
    7.3 Electric Vehicles  
    7.4 Industrial Machinery 
    7.5 Internal Combustion Engine (ICE) Vehicles
      
8 Global Bearing Market by, Product 
    8.1 Overview  
    8.2 Ball Bearing  
    8.3 Roller Bearing  
    8.4 Plain Bearing  
    8.5 Other Products  
     
9 Global Bearing Market by, Bearing Type 
    9.1 Overview  
    9.2 Mounted Bearing  
    9.3 Unmounted Bearing 
     
10 Global Bearing Market by, Distribution Channel
    10.1 Overview  
    10.2 Original equipment manufacturers (OEMs)
    10.3 Aftermarket  
     
11 Global Bearing Market by, End User 
    11.1 Overview  
    11.2 Automotive  
    11.3 Industrial    
    11.4 Aerospace & Defense 
    11.5 Agriculture  
    11.6 Construction  
    11.7 Electrical   
    11.8 Oil & Gas   
    11.9 Other End Users  
     
12 Global Bearing Market by, Geography 
    12.1 Overview  
    12.2 North America  
    12.3 Europe   
    12.4 Asia Pacific  
    12.5 South America  
    12.6 Middle East & Africa 
     
13 Key Developments   
     
14 Company Profiling   
    14.1 Danaher   
            14.1.1 Business Overview 
            14.1.2 Product/Service Offering
            14.1.3 Financial Overview 
            14.1.4 SWOT Analysis 
            14.1.5 Key Activities 
    14.2 Iljin Bearing  
    14.3 JTEKT Corporation  
    14.4 MinebeaMitsumi Inc. 
    14.5 NSK Ltd   
    14.6 NTN Corporation  
    14.7 RBC Bearings Incorporated 
    14.8 Rexnord Corporation 
    14.9 RKB Bearing  
    14.10 Schaeffler AG  
    14.11 SKF   
    14.12 THK Co. Ltd.  
    14.13 Timken   
    14.14 Wafangdian Bearing Co., Ltd