Latest News- Bearings Market in India: Automotive industry is expected to lead the End-user segment during 2025-2029

The Bearings Market in India is being driven by Increase in focus on automation

The Bearings Market in India is expected to grow at a CAGR of 3.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 853.9 million. Additive manufacturing, or 3D printing, is revolutionizing the bearing industry in India with its numerous advantages. Key drivers of this technology's adoption include cost savings through streamlined processes, faster manufacturing, ease of upgrading products, energy efficiency, and minimal waste production. Notable companies in India's bearing market are embracing 3D printing to produce bearings, resulting in fewer parts, reduced inventory costs, and lighter components. This innovative approach to manufacturing is transforming the industry by offering significant benefits over traditional methods. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive industry
  • Heavy industry
  • ARS industry
  • Others
• Product
  • Anti-friction bearings
  • Magnetic bearings
  • Others
• Product Type
  • Ball bearings
  • Roller bearings
  • Plain bearings
  • Others
• Geography
  • India

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

• Increase in focus on automation
• Increasing demand for bearings from heavy industries
• Increasing production of electric vehicles

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

• Fluctuation in raw material prices of bearings
• Penetration of counterfeit and used bearing products
• Slowdown in automobile sales worldwide

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Market Scope in Bearings Market in India Research Report

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Research Analysis Overview

The Bearings Market in India encompasses a range of high-performance bearing types, including precision ball bearings, rolling element bearings, hydrodynamic bearings, magnetic bearings, air bearings, sleeve bearings, and plain bearings. These bearings offer benefits such as friction reduction, wear resistance, corrosion resistance, temperature resistance, shock absorption, vibration damping, noise reduction, low-maintenance, extended bearing life, bearing optimization, and safety. The market focuses on bearing selection, application, installation, and maintenance practices, as well as understanding failure modes, troubleshooting, replacement procedures, warranty, certification, regulations, sustainability, energy efficiency, environmental impact, recycling, and industry trends. Competition and innovation play significant roles in the market, with ongoing research and analysis shaping the future of the industry.

Market Research Overview

The Bearings Market in India is a significant segment of the larger Global Industrial Machinery and Supplies and Components Market. This market encompasses companies manufacturing industrial machinery and components, including ball bearings such as roller bearings, linear bearings, thrust bearings, needle bearings, spherical bearings, tapered roller bearings, radial bearings, self-aligning ball bearings, miniature bearings, and heavy-duty bearings. The market's size is determined by the combined revenue generated by these manufacturers supplying machinery and components for industrial applications. The Global Industrial Machinery and Supplies and Components Market is poised for growth due to several key factors. Primarily, the increasing industrial output in process and discrete industries of developing countries, driven by the growing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, will lead to capacity additions. This expansion is a result of the rapid economic growth in these regions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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