Bearings Market was valued at USD 108 billion in 2019 and is expected to register a CAGR of 6.5% during the forecast period.

Bearings are the mechanical assemblies which comprise of rolling elements & mostly inner and outer races that are utilized for the rotating or linear shaft applications. They are the high-precision parts which permit the equipment to move at varying speed levels by transporting the notable loads efficiently. There are different types of bearings present, which are precisely designed for various applications depending on the expected loads and the possibility of containment exposure, temperature fluctuations, and pressure. The function of bearings is to decrease the rotational friction and provide support to the radial & axial loads. This is achieved by utilizing at least two races to hold the balls and transfer the loads by the balls.

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The global bearings market is mainly driven by several factors that include the rising adoption of bearings across several application areas such as automotive, railways, among others, and the implementation of heavy machinery in the industries demanding high-performance industrial bearings. In addition, the increasing concerns related to the pollution and global warming leading to growth in the investments and number of projects for the production of wind energy is further leading to a rise in the demand for bearings owing to their ability to withstand high rotating speeds. The increasing technological advancements for the development of bearings and rising focus of the bearing manufacturers on new innovations and enhancements to meet the demand of several industries are the key factors surging the demand for bearings in the market during the forecast period.

The use of bearings in industries offers remarkable advantages such as the ability to operate at high speeds, decrease the friction among the components, high load carrying capacity, the ability to perform accurately under fluctuating loads & speeds and less operational wear, which is leading to the use of simple methods of lubrication. The factors that are restraining the growth of the global bearings market include the rising concerns for the counterfeit products owing to its low cost.

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Based on the type, the Ball Bearings segment is expected to increase at a higher CAGR during the forecast period owing to the high adoption of these bearings across various industry verticals as a result of its several advantages that include large operating temperature range, low cost for replacement, enhanced motor performance, along with a better sealing shield, and easy availability.

Based on the application, the Automotive segment is anticipated to grow at a higher compound annual growth rate over the forecast period due to the increasing usage of the bearings in the automotive sector as a result of its high durability and feature to rotate at high speed with enhanced precision. In addition, an increase in the production and sales of the vehicle as a result of growing industrialization and the implementation of advanced technologies to enhance the experience of driving are some factors fuelling the market growth of this segment.

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Based on the region, Asia-Pacific is expected to dominate the market during the forecast period owing to the increase in the expansion of production of motor vehicles and machinery as a result of developing infrastructure leading to an increase in the utilization of bearings.

Various notable players operating in the market include JTEKT Corporation, NSK Ltd., Schaeffler AG, SKF, The Timken Company, NTN Bearing Corporation, MinebeaMitsumi Inc., Rexnord Corporation, RBC Bearings Incorporated, and C&U Group, among others.

Key Developments:

• • In 2020, NSK Ltd. developed ultra-high-speed bearings that can be used in the electric vehicles that include battery electric, hybrid, and other latest energy vehicles. This bearing has the ability to enable the electric motors to operate at high speed, enhance the maximum range of the vehicle and fuel economy.
  • In 2019, JTEKT Corporation developed creep resistance features for ball bearings that are majorly used in the transmission of electric and hybrid vehicles and also for the CVTs of the engine cars. The product defeats the housing wear that has occurred due to the bearing creep in transmission housing.

The global bearings market has been segmented on the basis of type, outer diameter, application, and region. Based on the type, the market is segmented into plain bearings, roller bearings, ball bearings, and others. The ball bearings segment is further categorized into deep groove ball bearings and others. The deep groove ball bearings segment is further categorized into open and sealed. Based on the outer diameter, the market is segmented into the below 5mm, 6-10mm, 10-21mm, 22mm, 23-32mm, 33-40mm, 41-45mm, and above 45mm. Based on the application, the market is segmented into agriculture, automotive, mining & construction, electrical, and railway & aerospace, and Others

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Key questions answered in this research report:

• • At what pace is the global bearings market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global bearings market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global bearings market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various application areas of the bearings market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 108 billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Outer Diameter, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	JTEKT Corporation, NSK Ltd., Schaeffler AG, SKF, The Timken Company, NTN Bearing Corporation, MinebeaMitsumi Inc., Rexnord Corporation, RBC Bearings Incorporated, and C&U Group, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Bearings Market by Type

• • Plain Bearings
  • Roller Bearings
  • Ball Bearings
    • Deep Groove Ball Bearings
      • Open
      • Sealed
    • Others
  • Others

Global Bearings Market by Outer Diameter

• • Below 5mm
  • 6-10mm
  • 10-21mm
  • 22mm
  • 23-32mm
  • 33-40mm
  • 41-45mm
  • Above 45mm

Global Bearings Market by Application

• • Agriculture
  • Automotive
  • Mining & Construction
  • Electrical
  • Railway & Aerospace
  • Others

Global Bearings Market by Region

• • North America Bearings Market (Option 1: As a part of the free 25% customization)

• • • North America Bearings Market by Type
    • North America Bearings Market by Outer Diameter
    • North America Bearings Market by Application
    • United States of America (US) Bearings Market All-Up
    • Canada Bearings Market All-Up

• • Europe Bearings Market (Option 2: As a part of the free 25% Customization)

• • • Europe Bearings Market by Type
    • Europe Bearings Market by Outer Diameter
    • Europe Bearings Market by Application
    • United Kingdom (UK) Bearings Market All-Up
    • Germany Bearings Market All-Up
    • France Bearings Market All-Up
    • Spain Bearings Market All-Up
    • Rest of Europe Bearings Market All-Up

• • Asia-Pacific Bearings Market (Option 3: As a part of the free 25% Customization)

• • • Asia-Pacific Bearings Market by Type
    • Asia-Pacific Bearings Market by Outer Diameter
    • Asia-Pacific Bearings Market by Application
    • China Bearings Market All-Up
    • India Bearings Market All-Up
    • Japan Bearings Market All-Up
    • Rest of APAC Bearings Market All-Up

• • RoW Bearings Market (Option 4: As a part of the free 25% Customization)

• • • RoW Bearings Market by Type
    • RoW Bearings Market by Outer Diameter
    • RoW Bearings Market by Application
    • Brazil Bearings Market All-Up
    • South Africa Bearings Market All-Up
    • Saudi Arabia Bearings Market All-Up
    • UAE Bearings Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Bearings Market All-Up

Global Bearings Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • JTEKT Corporation
  • NSK Ltd.
  • Schaeffler AG
  • SKF
  • The Timken Company
  • NTN Bearing Corporation
  • MinebeaMitsumi Inc.
  • Rexnord Corporation
  • RBC Bearings Incorporated
  • C&U Group