Bearings Market Report Scope & Overview:

The Bearings Market size was valued at USD 119.86 Bn in 2023 and is expected to reach USD 248.5 Bn by 2031 and grow at a CAGR of 9.54 % over the forecast period 2024-2031.

Bearings may be found in almost any piece of machinery or equipment, from vehicle parts to agricultural equipment to home appliances to defense and aerospace equipment. In the near future, this aspect is expected to boost the market. Bearings with reduced maintenance needs, improved efficiency, and longer service life are in high demand.

Bearings Market Revenue Analysis

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Over the last few decades, the bearing industry has seen steady technological improvements and developments, with a focus on improving bearing performance and life. The bearing market is predicted to rise at a steady pace during the forecast period, owing to an exponential increase in demand for durable and high-performing bearings that can function at greater speeds, withstand large loads, and more. Several major competitors in the bearings industry are increasingly focused on product testing and development to build a strong brand presence and market dominance.



  • Wind turbine infrastructure development

  • Demand for high-performance bearings for agricultural equipment is growing.

  • Global industrialization is increasing.


  • Ball bearings are manufactured under strict environmental regulations.

  • The onset of the pandemic has halted industry operations.


  • New product launching and R&D among key companies.

  • Continue to improve product designs in order to improve performance and energy efficiency.


The emergence of the new coronavirus pandemic is one of the significant difficulties that Bearing Market companies have been dealing with since the historic forecast period ended in 2019. The pandemic has been labeled a healthcare emergency, and as a result, the world's strong healthcare service providers and infrastructures are failing, causing an increase in the level of suffering. Rising pandemic cases are being taken into account, and worldwide governments are working on preventing the virus from spreading. As a result, worldwide governments were obliged to establish legislation and implement harsh restrictions that would have an impact on the functioning but might assist slow the spread of the epidemic internationally. However, the tight restrictions adopted, such as the lockdown, had a significant influence on market functioning, resulting in a substantial disruption in the worldwide market's supply chain mechanism. Furthermore, the market has been plagued by manufacturing and production challenges, which have acted as a fundamental fault and resulted in lower demand. During the projected period, which ends in 2030, demand is also declining due to shifting market trends and tastes of the worldwide audience. As a result, worldwide Bearing Market companies are recognizing shifting trends and investing in research and development. This is a critical step that will assist the market in developing new and creative products and launching them on a global basis.


In 2023, the roller bearings category led the market, accounting for the majority of sales. Furthermore, by 2030, this category is expected to maintain its dominance and become the fastest-growing. These products are more efficient than their competitors in reducing rotational friction, supporting radial and axial loads, and sustaining limited axial and heavy radial loads. The extensive adoption of roller bearings by a variety of industries, including capital equipment, autos, home appliances, and aerospace, is expected to boost product demand. Ball bearings and other bearings are also covered in the paper. Because ball bearings have a smaller surface contact area, they assist to minimize friction significantly. They can also handle thrust and radial loads, which is why these goods are increasingly being employed in both four and two-wheeled vehicles. As a result, the category is expected to increase steadily during the forecast period.

In 2023, the automobile category dominated the market, accounting for the majority of revenue. The large market share of this sector might be attributable to increased worldwide vehicle manufacturing. Furthermore, as the demand for automobiles with technologically advanced solutions grows, so does vehicle manufacturing, necessitating instrumented goods. The rise in demand for modern automobiles, as well as the resulting improvement in vehicle capabilities, has increased the need for bearing in the automotive sector. Additionally, the automotive aftermarket industry is expected to grow at a greater CAGR during the projection period, boosting bearing demand even more. By 2030, the railway and aircraft segments are expected to be the fastest-growing segments. This increase may be ascribed to rising interest in travel activities, the increasing need to replace aged fleets due to rigorous environmental laws, and rising fuel prices along with enhanced ways to aid global and local transportation networks. Demand from the railway segment is expected to increase as emerging nations speed railway building. Furthermore, rising demand for small single-aisle planes and helicopters from emerging nations is expected to propel the market forward.


By type

  • Ball Bearings

    • Deep Groove Bearings

    • Others

  • Roller Bearings

    • Split

    • Tapered

    • Others

  • Plain Bearings

    • Journal Plain Bearings

    • Linear Plain Bearings

    • Thrust Plain Bearings

    • Others

  • Others

By Application

  • Automotive

  • Electrical

  • Agriculture

  • Mining & Construction

  • Automotive Aftermarket

  • Railway & Aerospace

  • Others


During the historic projection period that concluded in 2023, the APAC region led the Bearing Market, capturing the biggest market share and generating revenue at a positive rate. Similar trends are projected to continue, with experts forecasting that the market will generate higher sales by the conclusion of the projection period in 2031. China is one of the primary markets that is predicted to witness increased sales in its native nation and become the greatest contributor to the market. Throughout the projected period, which ends in 2031, there has been a solid level of construction and mining equipment that will aid market expansion.

Bearings Market By Region

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  • North America

  • US

  • Canada

  • Mexico


      Latin America

    • Brazil

    • Argentina

    • Colombia

    • Rest of Latin America


      Middle East & Africa

    • Middle East

      • UAE

      • Egypt

      • Saudi Arabia

      • Qatar

      • Rest of the Middle East

    • Africa

      • Nigeria

      • South Africa

      • Rest of Africa


      • India

      • Japan

      • South Korea

      • Vietnam

      • Singapore

      • Australia

      • Rest of Asia Pacific

      Asia Pacific

    • China



    • Eastern Europe

      • Poland

      • Romania

      • Hungary

      • Turkey

      • Rest of Eastern Europe

    • Western Europe

      • Germany

      • France

      • UK

      • Italy

      • Spain

      • Netherlands

      • Switzerland

      • Austria

      • Rest of Western Europe


The major key players in the market are NSK Ltd, Schaeffler AG, JTEKT Corporation, SKFThe Timken Company, NBI Group, NTN Bearing Corporation, RBC Bearings Incorporated, Regal Rexnord Corporation, LYC Bearings Corporationand others in final Report.

MinebeaMitsumi Inc-Company Financial Analysis

Company Landscape Analysis

Bearings Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 119.86  Billion
Market Size by 2031 US$ 248.5 Billion
CAGR CAGR 9.54 % From 2024 to 2031
Base Year 2022 
Forecast Period 2024-2031
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By type (Ball Bearings, Roller Bearings, Plain Bearings, Others)
• By Application (Automotive, Electrical, Mining & Construction, Agriculture, Automotive Aftermarket, Railway & Aerospace, Others)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles NSK Ltd, Schaeffler AG, JTEKT Corporation, SKF, The Timken Company, NBI Group, NTN Bearing Corporation, RBC Bearings Incorporated, Regal Rexnord Corporation, LYC Bearings Corporationand
Key Drivers • Wind turbine infrastructure development.
• Global industrialization is increasing.
Restraints • Ball bearings are manufactured under strict environmental regulations.
• The onset of the pandemic has halted industry operations.

Frequently Asked Questions

Ans: - The Bearings Market Size was valued at USD 119.86 Bn in  in 2023.

Ans: The Bearings Market is growing at a CAGR of 9.54 % from 2024 to 2031.

Ans: - The Asia Pacific area is anticipated to have the greatest market share during the forecast period. 

Ans. The primary growth tactics of Bearings market participants include merger and acquisition, business expansion, and product launch.


Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact Of Russia Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. Bearings Market Segmentation, By Type

9.1 Introduction

9.2 Trend Analysis

9.3 Ball Bearings

9.3.1 Deep Groove Bearings

9.3.2 Others

9.4 Roller Bearings

9.4.1 Split

9.4.2 Tapered

9.4.3 Others

9.5 Plain Bearings

9.5.1 Journal Plain Bearings

9.5.2 Linear Plain Bearings

9.5.3 Thrust Plain Bearings

9.5.4 Others

9.6 Others

10. Bearings Market Segmentation, By Application

    1. Introduction

10.2 Trend Analysis

10.3 Automotive

10.4 Electrical

10.5 Agriculture

10.6 Mining & Construction

10.7 Automotive Aftermarket

10.8 Railway & Aerospace

10.9 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 Trend Analysis

11.2.2 North America Bearings Market by Country

11.2.3 North America Bearings Market By Type

11.2.4 North America Bearings Market By Application

11.2.5 USA USA Bearings Market By Type USA Bearings Market By Application

11.2.6 Canada Canada Bearings Market By Type Canada Bearings Market By Application

11.2.7 Mexico Mexico Bearings Market By Type Mexico Bearings Market By Application

11.3 Europe

11.3.1 Trend Analysis

11.3.2 Eastern Europe Eastern Europe Bearings Market by Country Eastern Europe Bearings Market By Type Eastern Europe Bearings Market By Application Poland Poland Bearings Market By Type Poland Bearings Market By Application Romania Romania Bearings Market By Type Romania Bearings Market By Application Hungary Hungary Bearings Market By Type Hungary Bearings Market By Application Turkey Turkey Bearings Market By Type Turkey Bearings Market By Application Rest of Eastern Europe Rest of Eastern Europe Bearings Market By Type Rest of Eastern Europe Bearings Market By Application

11.3.3 Western Europe Western Europe Bearings Market by Country Western Europe Bearings Market By Type Western Europe Bearings Market By Application Germany Germany Bearings Market By Type Germany Bearings Market By Application France France Bearings Market By Type France Bearings Market By Application UK UK Bearings Market By Type UK Bearings Market By Application Italy Italy Bearings Market By Type Italy Bearings Market By Application Spain Spain Bearings Market By Type Spain Bearings Market By Application Netherlands Netherlands Bearings Market By Type Netherlands Bearings Market By Application Switzerland Switzerland Bearings Market By Type Switzerland Bearings Market By Application Austria Austria Bearings Market By Type Austria Bearings Market By Application Rest of Western Europe Rest of Western Europe Bearings Market By Type Rest of Western Europe Bearings Market By Application

11.4 Asia-Pacific

11.4.1 Trend Analysis

11.4.2 Asia Pacific Bearings Market by Country

11.4.3 Asia Pacific Bearings Market By Type

11.4.4 Asia Pacific Bearings Market By Application

11.4.5 China China Bearings Market By Type China Bearings Market By Application

11.4.6 India India Bearings Market By Type India Bearings Market By Application

11.4.7 Japan Japan Bearings Market By Type Japan Bearings Market By Application

11.4.8 South Korea South Korea Bearings Market By Type South Korea Bearings Market By Application

11.4.9 Vietnam Vietnam Bearings Market By Type Vietnam Bearings Market By Application

11.4.10 Singapore Singapore Bearings Market By Type Singapore Bearings Market By Application

11.4.11 Australia Australia Bearings Market By Type Australia Bearings Market By Application

11.4.12 Rest of Asia-Pacific Rest of Asia-Pacific Bearings Market By Type Rest of Asia-Pacific Bearings Market By Application

11.5 Middle East & Africa

11.5.1 Trend Analysis

11.5.2 Middle East Middle East Bearings Market by Country Middle East Bearings Market By Type Middle East Bearings Market By Application UAE UAE Bearings Market By Type UAE Bearings Market By Application Egypt Egypt Bearings Market By Type Egypt Bearings Market By Application Saudi Arabia Saudi Arabia Bearings Market By Type Saudi Arabia Bearings Market By Application Qatar Qatar Bearings Market By Type Qatar Bearings Market By Application Rest of Middle East Rest of Middle East Bearings Market By Type Rest of Middle East Bearings Market By Application

11.5.3 Africa Africa Bearings Market by Country Africa Bearings Market By Type Africa Bearings Market By Application Nigeria South Africa Bearings Market By Type South Africa Bearings Market By Application South Africa South Africa Bearings Market By Type South Africa Bearings Market By Application Rest of Africa Rest of Africa Bearings Market By Type Rest of Africa Bearings Market By Application

11.6 Latin America

11.6.1 Trend Analysis

11.6.2 Latin America Bearings Market by Country

11.6.3 Latin America Bearings Market By Type

11.6.4 Latin America Bearings Market By Application

11.6.5 Brazil Brazil Bearings Market By Type Brazil Bearings Market By Application

11.6.6 Argentina Argentina Bearings Market By Type Argentina Bearings Market By Application

11.6.7 Colombia Colombia Bearings Market By Type Colombia Bearings Market By Application

11.6.8 Rest of Latin America Rest of Latin America Bearings Market By Type Rest of Latin America Bearings Market By Application

12. Company Profiles

12.1 NSK Ltd

12.1.1 Company Overview

12.1.2 Financial

12.1.3 Products/ Services Offered

12.1.4 SWOT Analysis

12.1.5 The SNS View

12.2 Schaeffler AG

12.2.1 Company Overview

12.2.2 Financial

12.2.3 Products/ Services Offered

12.2.4 SWOT Analysis

12.2.5 The SNS View

12.3 JTEKT Corporation

12.3.1 Company Overview

12.3.2 Financial

12.3.3 Products/ Services Offered

12.3.4 SWOT Analysis

12.3.5 The SNS View

12.4 SKF

12.4.1 Company Overview

12.4.2 Financial

12.4.3 Products/ Services Offered

12.4.4 SWOT Analysis

12.4.5 The SNS View

12.5 The Timken Company

12.5.1 Company Overview

12.5.2 Financial

12.5.3 Products/ Services Offered

12.5.4 SWOT Analysis

12.5.5 The SNS View

12.6 NBI Group

12.6.1 Company Overview

12.6.2 Financial

12.6.3 Products/ Services Offered

12.6.4 SWOT Analysis

12.6.5 The SNS View

12.7 NTN Bearing Corporation

12.7.1 Company Overview

12.7.2 Financial

12.7.3 Products/ Services Offered

12.7.4 SWOT Analysis

12.7.5 The SNS View

12.8 Regal Rexnord Corporation

12.8.1 Company Overview

12.8.2 Financial

12.8.3 Products/ Services Offered

12.8.4 SWOT Analysis

12.8.5 The SNS View

12.9 RBC Bearings Incorporated

12.9.1 Company Overview

12.9.2 Financial

12.9.3 Products/ Services Offered

12.9.4 SWOT Analysis

12.9.5 The SNS View

12.10 LYC Bearings Corporation

12.10.1 Company Overview

12.10.2 Financial

12.10.3 Products/ Services Offered

12.10.4 SWOT Analysis

12.10.5 The SNS View

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

13.3.1 Industry News

            13.3.2 Company News

            13.3.3 Mergers & Acquisitions


14. USE Cases and Best Practices

15. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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