Home > Automotive & Transportation > Bearings Market

Bearings Market Size By Product (Roller Bearings, Ball Bearings), By Application (Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace, Automotive Aftermarket) & Forecast, 2023 - 2032

  • Report ID: GMI111
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

Bearings Market size surpassed USD 50 billion in 2022 and is projected to witness 8.5% CAGR from 2023 to 2032.

Bearings Market

To get more details on this report: Request Free Sample PDF

Escalating vehicle sales across emerging economies, such as China, India, and South Korea, will support the demand for bearings in the automotive sector. Rising urbanization and improving standard of living are expected to advocate the demand for new/pre-owned vehicles globally. According to the federal transport authority KBA, a total of 2.65 million vehicles were registered in Europe's largest economy in 2022, indicating a 1.1% increase from the previous year.

The need for proper maintenance of bearing in long-run operations could impact bearings market. Correct installation and application of bearings are essential to extend their lifespan. The adoption of new and efficient business models and the pressing need to address the negative impressions of climate change and environmental degradation would decline the demand for fossil-fuel-powered industrial equipment. The introduction of automation and electrification will however create new business prospects for equipment manufacturers, favoring product penetration.

Increasing use of roller bearings in the mining and construction sector

Bearings Market Share, By Product

To get more details on this report: Request Free Sample PDF

Roller bearings industry is set to observe 8.5% growth between 2023 and 2032. Roller bearings are increasingly used in mining and construction as well as in railway and aerospace applications. These bearings can carry heavy loads and are preferred for their high mechanical efficiency, simple installation, repair and interchangeability. They also support high precision and exhibit long service life.

The introduction of supportive government initiatives to expand the manufacturing sector would complement the roller bearings industry expansion. Take for instance, in December 2022, China’s Customs Tariff Commission of the State Council, announced the implementation of a provisional import tax for 1,020 commodities starting from January 1, 2023. These tariff reductions would be applicable to machinery items such as e-ink screens, lithium niobate, and roller bearings for wind turbines.

Growing demand for automotive moving parts to lead industry development

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

The industry size of bearings exceeded USD 50 billion in 2022 and is projected to witness 8.5% CAGR during 2023 to 2032, according to GMI Report

Bearings industry from the automotive application is expected observe 8.1% growth rate between 2023 and 2032 owing to its wide-scale use in gearboxes, engines, and steering systems.

APAC bearings industry is anticipated to attain 9% gains through 2032 driven by expanding the automotive sector across regional economies like China and India.

C&U Group Company Limited, Brammer PLC, Daido Metal Company Limited, and HKT Bearings Ltd are some of the leading companies in the business scenario.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 111
  • Countries covered: 20
  • Pages: 300
Inquiry Before Buying

Budget constraints? Get in touch with us for special pricing

Request Discount