Authored By: Sarah
07 Mar 2023

Bearings Market Size to Grow by USD 13,022.13 Million at a CAGR of 2.97% Between 2022 and 2027

The bearings market share is estimated to grow at a CAGR of 2.97% between 2022 and 2027. The size of the market is forecast to increase by USD 13,022.13 million. The bearings market will witness a YOY of 2.56% in 2023. 

“Strong demand for high-quality bearings and Increasing adoption of electric vehicles will boost the market growth”, says a senior analyst at Technavio. 

Browse Technavio's 170-page report and in-depth TOC on "Bearings Market by product (anti-friction bearings, magnetic bearings, and other bearings), end-user (automotive industry, heavy industry, ARS industry, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

View detailed Table of Contents Here:

Bearings Market Size to Grow by USD 13,022.13 Million at a CAGR of 2.97% Between 2022 and 2027 

The bearings market growth by the anti-friction bearings segment will be significant during 2023-2027. The demand for anti-friction bearings is growing with the rise in core manufacturing processes in the industrial segment and automotive industries, as these bearings find extensive use in all industries, such as automotive, aerospace, railways, wind generation, and defense.

APAC will contribute 56% of the growth rate during the forecast period. The market in APAC is expected to register one of the fastest growth rates during the forecast period. A primary factor for the growth of the market in focus is the growing demand for bearings from automotive, aerospace, electronic and electrical, and other end-users in developing countries such as China and India.

Some of the key bearings market vendors are AB SKF, ASAHI SEIKO Co. Ltd., Bharat Forge Ltd., C and U Americas, HKT BEARINGS Ltd., JTEKT Corp., Luoyang JCB Bearing Technology Co. Ltd., LYC Bearing Corp., MinebeaMitsumi Inc., myonic GmbH, NACHI FUJIKOSHI Corp., NBI Bearings Europe SA, NSK Ltd., RBC Bearings Inc., Regal Rexnord Corp., Schaeffler AG, THB Bearings Co. Ltd., The Timken Co., Wafangdian Guangyang Bearing Group Co. Ltd., and NTN Corp.  

Some of the Vendor Offerings are: The company offers bearings that helps in assisting objects rotation and support the shaft that rotates inside the machinery. The company offers bearings that helps to support automotive components and improving fuel economy. The company offers bearings that are used in various areas such as automobiles, airplanes and electric generators.

Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact on the market in focus. Download the PDF Sample Report 

Key Elements Included in the Bearings Market Report: 

  • The bearings market report covers in-depth information about key vendors and their product offerings. 

  • The key driver, trends and challenges, market opportunities, and the detailed market impact analysis 

  • Five force analysis to analyze the potential of buyers and suppliers and the competitive industry scenario. 

  • Bearings market industry across APAC, Europe, North America, South America, and Middle East and Africa.

Read News Read Less
Interested in this report?
Get your sample now!