Latest News- Bearings Market: Anti-friction bearings is expected to lead the Product segment during 2025-2029

The Bearings Market is being driven by Strong demand for high-quality bearings

The Bearings Market is expected to grow at a CAGR of 3.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 17.29 billion. The surge in electric vehicle (EV) adoption in major markets, including Europe, the US, and the Asia-Pacific region, particularly in China and Japan, is driving the demand for advanced hydraulic equipment for these vehicles. Fueled by stringent emissions regulations and a focus on environmental safety, EV sales grew by approximately 15% between June 2023 and June 2024. In response, automakers are investing in new designs and feature-rich electric vehicles. Moreover, manufacturers are relocating production facilities to China and other APAC countries to capitalize on the region's high growth potential in the EV market. Companies are also prioritizing eco-friendly technologies to minimize the carbon footprint of electric vehicles. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Anti-friction bearings
  • Magnetic bearings
  • Others
• End-user
  • Automotive industry
  • Heavy industry
  • ARS Industry
  • Others
• Type
  • Ball Bearings
  • Roller Bearings
  • Plain Bearings
• Distribution Channel
  • OEM
  • Aftermarket
• Measurement
  • 30 to 40 mm
  • 41 to 50 mm
  • 51 to 60 mm
  • 61 to 70 mm
  • 70 mm and above
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • North America
    • US
    • Canada
  • South America
  • Middle East and Africa
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Strong demand for high-quality bearings
• Growing adoption of automation in manufacturing process
• APAC acting as market enabler

However, the market also witnesses some limitations, which are as follows:

• Increasing popularity of counterfeit and used bearings
• Difficulties in keeping pace with changing customer demand
• Fluctuating raw material prices

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Market Scope in Bearings Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Bearings Market encompasses various aspects, including bearing stiffness, preloading, clearance, alignment, torque, vibration analysis, noise reduction, lubrication systems, monitoring, and condition assessment. It also covers simulation, optimization software, assembly, disassembly, installation, repair, replacement, and remanufacturing. Additionally, it includes hybrid bearings like magnetic, air, hydrostatic, and hydrodynamic bearings; rolling element and sliding bearings such as journal, thrust, radial, axial, sealed, open, shielded, high-temperature, low-temperature, corrosion-resistant, high-performance, ultra-precision, miniature, and super-sized bearings.

Market Research Overview

In the expansive landscape of the global industrial machinery and supplies and components market, key segments include ball bearings, roller bearings, linear bearings, thrust bearings, and needle bearings. This market encompasses organizations involved in the manufacturing of industrial machinery and components, encompassing presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, and other metal fabrications. According to Technavio's market analysis, the industrial machinery and supplies and components market size is determined by the consolidated revenue generated by these manufacturers catering to the industrial sector. Factors propelling market growth include the increasing industrial output leading to capacity expansions in process and discrete industries, as well as the burgeoning demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/