Mounted Bearing Market key Insights:

The Mounted Bearing Market size was valued at USD 1.49 Billion in 2023 and is expected to reach USD 2.38 Billion by 2032, with growing at a CAGR of 5.44% over the forecast period 2024-2032.

The mounted bearing market is a vital segment of the larger bearing industry, focusing on bearings that are pre-assembled into housings or mounts for easy installation. This market is driven by the rising demand for automation, industrial machinery, and material handling systems. Key industries such as automotive, agriculture, mining, construction, and manufacturing heavily rely on mounted bearings to ensure the efficient operation of machinery and equipment. In the automotive industry, for example, mounted bearings are crucial components in wheel assemblies, powertrain systems, and suspension systems, where they support high load-bearing capacities and reduce friction, ensuring smooth vehicle operation.

The growth of Industry 4.0 has profoundly impacted the mounted bearing market, driving significant transformations through advancements in automation, IoT, and smart manufacturing. Since its introduction in 2011, the term Industry 4.0 has seen a remarkable surge in interest, with Google searches increasing 140 times by 2023, and related terms like Industrial IoT growing 32 times. This rise in interest is closely linked to the growing demand for advanced mechanical components, including mounted bearings, which play a critical role in the operation of automated systems, robotics, and smart factories. Supporting technologies within Industry 4.0, such as Cobots and Additive Manufacturing, have further increased the need for more efficient, durable, and precise mounted bearings that can meet the demands of modern industrial applications. Over 200,000 research papers have been published in the last decade on Industry 4.0, highlighting the importance of precision components like mounted bearings in these technological developments. As industries continue to prioritize efficiency, precision, and automation, mounted bearings are becoming increasingly integral to robotics, smart manufacturing systems, and automated material handling units.

Market Dynamics

Drivers

• The industrial sector has seen considerable expansion, especially due to the emergence of automation technologies, which serve as a key factor for the mounted bearing market.

Bearings are essential parts in machines and mechanical systems utilized in factories, manufacturing facilities, and industrial processes. As sectors keep expanding and changing, the need for parts that facilitate smooth operation, lower friction, and improve efficiency increases. The heightened dependence on automation in manufacturing to enhance production speed, uniformity, and precision has resulted in an escalating demand for mounted bearings capable of enduring substantial loads, elevated speeds, and ongoing operation. Moreover, sectors like automotive, agriculture, construction, and mining need mounted bearings for different equipment, ranging from conveyor systems to power transmission units. Automation systems require bearings capable of functioning reliably in extreme conditions, which is fueling the need for strong, high-performance mounted bearings. The growth of smart factories, along with the Internet of Things (IoT), has increased the need for highly accurate and long-lasting bearings in automated systems. As sectors advance towards automation to boost efficiency and lower labor expenses, the mounted bearing market will keep growing since they are vital to the operation of machines.

• The increasing worldwide focus on energy efficiency and sustainability is another major factor propelling the mounted bearing market.

Bearings, encompassing mounted variants, are utilized in numerous systems where minimizing energy usage is essential. In industrial equipment, minimizing friction and guaranteeing smooth operation are crucial for energy efficiency, as they decrease the total power needed to run the system. Mounted bearings reduce friction and wear, leading to enhanced energy efficiency and prolonging equipment lifespan, which results in savings on both operational and energy costs. This trend has been especially evident in sectors like manufacturing, where energy use constitutes a significant portion of operational expenses. Governments and institutions globally have started to enforce stricter energy regulations and environmental requirements, urging companies to invest in energy-efficient options. As businesses aim to achieve these sustainability objectives, the need for mounted bearings, which enhance energy efficiency by minimizing the frequency of replacements and maintenance, is projected to increase.

Restraints

• The cost of raw materials employed in manufacturing mounted bearings, including steel, aluminum, and various advanced materials, is extremely vulnerable to market variations.

These price variations are frequently impacted by global supply chain interruptions, geopolitical conflicts, and shifts in raw material needs. For example, steel prices may increase because of higher demand from the construction or automotive sectors, which subsequently elevates the production costs for mounted bearings. When raw material prices go up, it can cause a rise in the final cost of bearings, rendering them less accessible to businesses, especially in markets where cost is a critical factor. Producers might encounter pressure to either absorb these increased costs or transfer them to consumers, both of which can impact profitability and hinder market acceptance. Fluctuating raw material costs pose a challenge for producers aiming to keep prices stable and compete successfully in the global marketplace.

Key Segmentation Analysis

By Product Type

In 2023, ball bearings led the mounted bearing market, commanding more than 55% of the market share. These bearings are engineered to minimize rotational friction and accommodate radial and axial loads. They are made up of balls that move between two smooth surfaces, providing little resistance. Ball bearings are widely used in industries such as automotive, with suppliers like SKF providing high-quality ball bearings for engines, wheels, and transmissions. General Electric employs ball bearings in the aerospace sector for turbine engines. The low friction properties of these bearings improve efficiency and durability in applications requiring smooth, uninterrupted movement.

The roller bearing is projected to have the fastest CAGR in the mounted bearing market during 2024-2032. Roller bearings utilize cylindrical rollers in place of balls for load support, providing an increased surface area for distributing weight. They are additionally more resilient in specific conditions, rendering them appropriate for sectors with high-performance demands, like construction, mining, and industrial equipment. Firms such as Timken are significant contributors in this sector, supplying roller bearings for robust industrial machinery, which encompasses equipment utilized in construction and mining. For instance, Caterpillar employs roller bearings in its heavy machinery to guarantee longevity and reduce downtime.

By Housing Block Type

Plummer blocks, commonly referred to as pillow blocks, dominated in 2023 with a market share of over 40%. They are particularly beneficial in scenarios where shafts experience significant radial and axial forces. Sectors such as mining, cement, and agriculture frequently depend on Plummer blocks for their robustness in challenging environments. For instance, SKF provides Plummer block housings within their SNL series, tailored for demanding industrial settings. The worldwide need for these bearings is increasing because of their versatility in helping heavy equipment such as crushers and conveyors. This expansion is anticipated to persist as these sectors develop, with a growing emphasis on minimizing downtime and improving operational efficiency.

Flanged blocks are expected to have the fastest CAGR during 2024-2032. They are often located in the automotive, chemical, and energy industries. Their capacity to offer secure fastening in confined areas renders them ideal for vertical setups or situations where alignment is essential. For example, firms such as Schaeffler produce flanged units for uses that demand accurate alignment and significant load-bearing capabilities. As industries move towards more streamlined machinery designs and automation, the demand for flanged block bearings is anticipated to increase quickly because of their space-saving advantages and the growing need for efficiency.

Regional Analysis

Asia-Pacific dominated with a 49% market share in 2023 in the market. The robust industrial foundation of the region, comprising significant manufacturing centers such as China and India, is crucial in stimulating demand for mounted bearings. Quick industrial growth and city expansion, along with the expanding automotive, construction, and mining industries, are additionally enhancing market development. Prominent firms in APAC, including NSK and Timken, are recognized leaders in this sector, offering products for various industries such as automotive, industrial machinery, and aerospace.

North America is projected to become the fastest-growing segment in the mounted bearing market between 2024 and 2032. The area boasts a sophisticated manufacturing framework and a robust presence in sectors like automotive, agriculture, and heavy machinery. Moreover, the increasing demand for electric vehicles (EVs), which depend on mounted bearings for peak drivetrain effectiveness, is driving this expansion. In North America, companies such as SKF and Timken lead the market by providing a diverse selection of bearings utilized in machinery, automotive, and renewable energy sectors, including wind turbines.

Key Players

The major key players in the Mounted Bearing Market are:

• SKF (SKF Y-bearings, SKF Plummer Block Bearings)

• Timken (Mounted Ball Bearings, Mounted Roller Bearings)

• NSK (NSK Pillow Block Bearings, NSK Plummer Block Housings)

• Schaeffler (FAG Mounted Bearings, INA Plummer Block Bearings)

• NTN (NTN Plummer Block Bearings, NTN Pillow Block Bearings)

• JTEKT (Koyo Mounted Bearings, Koyo Pillow Block Bearings)

• RBC Bearings (RBC Mounted Ball Bearings, RBC Insert Bearings)

• Mersen (Mersen Graphite Mounted Bearings, Mersen Ceramic Bearings)

• Hubbell (Hubbell Mounted Bearings, Hubbell Pillow Block Bearings)

• Maytag (Maytag Mounted Bearings, Maytag Shaft Bearings)

• ABB (ABB Mounted Bearings, ABB Plummer Blocks)

• Boca Bearings (Boca Mounted Bearings, Boca Pillow Block Bearings)

• Fersa Bearings (Fersa Mounted Bearings, Fersa Pillow Block Bearings)

• Mitsubishi Electric (Mitsubishi Mounted Bearings, Mitsubishi Pillow Block Units)

• Dodge (A Regal Company) (Dodge Mounted Bearings, Dodge Pillow Blocks)

• Boston Gear (Boston Mounted Bearings, Boston Pillow Block Bearings)

• Parker Hannifin (Parker Mounted Ball Bearings, Parker Pillow Block Bearings)

• Sealmaster Bearings (Sealmaster Mounted Bearings, Sealmaster Pillow Block Bearings)

• MinebeaMitsumi (Minebea Mounted Bearings, Minebea Pillow Blocks)

• INA (INA Mounted Ball Bearings, INA Plummer Block Bearings)

Suppliers providing components to these key players:

• Mubea

• GGB Bearing Technology

• Schaeffler Group

• Trelleborg

• SKF Group

• NTN Corporation

• SinterMet

• Saito Seiki Co. Ltd.

• IGUS

• Thomson Industries

Recent Developments

• In October 2022, Timken expanded its portfolio of mounted bearings, focusing on solutions for sectors like agriculture, mining, and cement. Their newly developed split cylindrical mounted bearings are designed for challenging environments, offering quicker maintenance to reduce downtime, particularly in industries such as water treatment​.

• In 2023, Schaeffler launched new bearing housings designed for industrial applications, with a focus on energy efficiency and reducing maintenance costs. They emphasized their X-life technology for longer service life and lower friction.

• In September 2024, NTN, the parent organization of BCA Bearings, declared the introduction of the BCA Wheel Hub with Hardware Kits series. The first release of this new product line features 27 new SKUs designed for popular domestic and import applications, providing coverage for more than 16.3 million vehicles currently in use.