Report Scope & Overview:
Plain Bearing Market Size was valued at USD 12.24 billion in 2022, and is expected to reach USD 18.51 billion by 2030, and grow at a CAGR of 5.3% over the forecast period 2023-2030. Plain bearings are simpler than other types because they only have a flat surface and don't have any rolling parts that can be attached to shafts. Also, the plain bearings can carry more weight than other types because they are small and light. Different end-user industries use these bearings for rotary motion.
End-use industries are buying more plain bearings, which is a good thing.
Plain bearings can be made cheaply in the Asia-Pacific region.
In the Asia-Pacific region, plain bearings can be made for a low price.
Changes in the prices of raw materials
Opportunities for Growth in Emerging Economies
Smart Bearing Technology Getting Better
Applications in the field of renewable energy
More and more fake bearings are being made
Because of the COVID-19 pandemic, there are problems with the supply chain, trade, and the economy as a whole.
Impact of Covid-19:
Effects of COVID-19 on the World Plain Bearing Market
The pandemic is expected to have a big effect on many parts of the value chain of plain bearings, especially in 2021. This effect is expected to show up during the forecast period. COVID-19 has a number of effects, which are as follows:
Effect on plain bearing market: The COVID-19 pandemic had a small effect on the plain bearing market. Plain bearings have a lot of potential in the construction, energy, automotive, and aerospace industries. COVID-19 had a bigger effect on the market for bigger bearings than on the market for smaller bearings because production and sales in discrete industries like cement, mining, etc. were slow because of lockdowns all over the world.
Impact on manufacturers of plain bearings: Because of the COVID-19 outbreak, most of the factories that make plain bearings have either closed or are running at a lower capacity.
Impact on end-use industries: The aerospace industry is the one that will be most affected by COVID-19. Because of the COVID-19 pandemic, air travel was stopped in many places, which had a big effect on airlines. The businesses of aircraft OEMs have been hurt by the mass grounding of aircraft fleets and the lack of new large orders and deliveries. AeroCentury Corp. filed for bankruptcy in March 2021 because airlines in the United States and other countries were less interested in renting planes during the pandemic.
NTN Corporation, THK Co., Ltd., Zollern GmbH & Co. Kg, SKF Group, GGB Bearing Technology, Boston Gear LLC, Minebea Mitsumi Inc., Thomson Industries, Inc., Schaeffler Technologies Ag & Co. Kg, Timken Company, and other players.
By End-Use Industry
Agriculture & Gardening Equipment
By Material Used
Composite Self-Lubricating Bearings
Metallic Self-Lubricating Bearings
In 2021, more than 40% of revenue came from the Asia-Pacific region. The growth of the bearings market in Asia-Pacific is being driven by countries like China and Japan. Sales are expected to rise in the next few years because of the rapid growth of machinery and car manufacturing, as well as a strong aftermarket for industrial equipment repair and car repair.
In the next few years, sales of automotive bearings are expected to go up a lot in Asia and the Pacific, especially in India, China, and Japan. In India and China, where more than a third of the world's population lives, people are buying more cars and two-wheelers. This helps the sales of automotive bearings in these countries. For automotive bearings, the market is expected to grow steadily in North America and Europe, which are more developed. During the forecast period, countries like South Africa and Brazil are expected to have high growth rates.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 12.24 Billion|
|Market Size by 2030||US$ 18.51 Billion|
|CAGR||CAGR of 5.3% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Journal, Linear, Thrust, Angular Contact, Others)
• By End-use Industry (Automotive, Industrial, Aerospace, Energy, Construction Machinery, Agriculture & Gardening Equipment, Oilfield Machinery, Office Products, Others)
• By Material Used (Composite Self-Lubricating Bearings, Metallic Self-Lubricating Bearings)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||NTN Corporation, THK Co., Ltd., Zollern GmbH & Co. Kg, SKF Group, GGB Bearing Technology, Boston Gear LLC, Minebea Mitsumi Inc., Thomson Industries, Inc., Schaeffler Technologies Ag & Co. Kg, Timken Company, and other players.|
|DRIVERS||• End-use industries are buying more plain bearings, which is a good thing.
• Plain bearings can be made cheaply in the Asia-Pacific region.
|Restraints||• In the Asia-Pacific region, plain bearings can be made for a low price.
• Changes in the prices of raw materials
Ans: Primary or secondary type of research done by this reports.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Effect on plain bearing market: The COVID-19 pandemic had a small effect on the plain bearing market. Plain bearings have a lot of potential in the construction, energy, automotive, and aerospace industries. COVID-19 had a bigger effect on the market for bigger bearings than on the market for smaller bearings because production and sales in discrete industries like cement, mining, etc. were slow because of lockdowns all over the world.
Ans: In the Asia-Pacific region, plain bearings can be made for a low price and Changes in the prices of raw materials are the restraints for Plain Bearing Market.
Ans: Plain bearing market Market Size was valued at USD 11.63 billion in 2021, and expected to reach USD 15.26 billion by 2028, and grow at a CAGR of 5.3 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Plain Bearing Market Segment, By Type
8.4 Angular Contact
9.Plain Bearing Market Segment, By End-use Industry
9.5 Construction Machinery
9.6 Agriculture & Gardening Equipment
9.7 Oilfield Machinery
9.8 Office Products
10.Plain Bearing Market Segment, By Material Used
10.1 Composite Self-Lubricating Bearings
10.2 Metallic Self-Lubricating Bearings
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profile
12.1 NTN Corporation
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 THK Co., Ltd.
12.3 Zollern GmbH & Co. Kg
12.4 SKF Group
12.5 GGB Bearing Technology
12.6 Boston Gear LLC
12.7 Minebea Mitsumi Inc.
12.8 Thomson Industries, Inc.
12.9 Schaeffler Technologies Ag & Co. Kg
12.10 Timken Company
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
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