Bearings Market - Global Outlook & Forecast 2025-2030

INDUSTRY OUTLOOK

The global bearing market was valued at USD 54.10 billion in 2024 and is expected to reach USD 78.45 billion by 2030, growing at a CAGR of 6.39% during the forecast period. The market growth is primarily driven by various factors related to industrial, technological, and automotive. The primary drivers are the continuous growth of manufacturing and industrial sectors globally, particularly in automotive, aerospace, construction, and heavy machinery. Technological advancements in the bearings market are another critical driver, as innovations in EV and renewable energy systems (such as wind turbines) all require specialized bearings for improved performance and reliability. In EV, bearings are essential in motors, transmissions, and other moving parts, driving the need for advanced, high-precision bearings that can handle the unique demands of electric drivetrains. Economic growth, particularly in emerging markets, further stimulates bearing demand as infrastructure development, urbanization, and industrialization in these regions expand. The rise of global trade also contributes to demand, as transportation and logistics industries rely on bearings in various applications, including railways, shipping, and aircraft. Additionally, the ongoing push for sustainability and energy efficiency increases the need for advanced bearing designs that reduce energy consumption, improve operational lifespan, and minimize environmental impact.

Bearings are mechanical components designed to reduce friction between moving parts and support rotational or linear motion in machinery and equipment. They are crucial in facilitating smooth movement and ensuring the longevity and efficiency of mechanical systems by minimizing wear and tear. The bearings market is vast and diverse, as these components are essential in industries such as automotive, aerospace, construction, mining, manufacturing, and energy. Bearings are used in applications ranging from simple household appliances to complex industrial machinery and high-performance engines. Furthermore, the market is influenced by trends such as automation, electric vehicles, and the rise of renewable energy sectors, all of which require specialized bearings to meet evolving performance and durability standards.

MARKET TRENDS & OPPORTUNITIES

Advancements in Technology

Advancements in bearing technology are continually reshaping the automotive industry, especially for EVs, where efficiency and range are critical. In recent developments, manufacturers in the bearing market have focused on creating low-friction bearings that not only boost vehicle range but also offer resistance to harsh environmental conditions. These technological advancements are crucial in extending battery life and maximizing the overall performance of EVs. For instance, in September 2024, NSK developed a new low-friction hub unit bearing that reduces friction by 40% compared to conventional products, helping extend the driving range of EVs by approximately 1,000 kilometers annually. The key innovation lies in the development of three new seal technologies: an optimized seal shape with fewer lips, a specialized seal grease with low viscosity and polymer reinforcement, and the application of laser processing to the seal's sliding surface for smoother movement. These improvements balance low friction with muddy water resistance, making the product ideal for EVs. Furthermore, in September 2024, Conax Technologies introduced the Ex/MBS Series explosion-proof miniature bearing sensors, featuring proprietary redundant sealing for unmatched safety and reliability. Designed for harsh environments, these sensors prevent oil leaks, reduce downtime, and enhance operational safety in critical rotating equipment applications. This innovation in the bearing market may push competitors to enhance their designs, influence industry regulations, and increase adoption in sectors like power generation, oil refineries, and water treatment where equipment reliability is critical.

Growth in Emerging Markets

The growth of emerging markets has significantly influenced the demand for bearings, a vital component in various industrial sectors, including automotive, manufacturing, energy, and construction. Emerging markets, such as China, India, Brazil, and other countries, are experiencing rapid industrialization, urbanization, and infrastructure development, all of which directly contribute to an increased need for bearings and support the global bearing market growth. Furthermore, the expansion and modernization of rail infrastructure in emerging markets, such as Brazil and China, have a direct impact on the demand for bearings. As these countries invest heavily in their rail networks, both for passenger and freight transport, there is a significant increase in the need for high-quality bearings to support the high-speed and heavy-duty requirements of these projects. For instance, in May 2024, the government of Brazil, São Paulo, Tarcísio de Freitas, launched SP on Rail, a $37.2bn investment program that included over 40 rail projects totaling 1000+ km. Key projects included the North Axis, which upgraded the São Paulo-Campinas line for express services under a 30-year public-private partnership, and the InterMetropolitan Train (TIM) service. Other projects, such as the West, East, and South Axes, aimed to connect São Paulo to nearby cities, improving inter-city rail services. The initiative was designed to ease congestion and promote sustainable transportation in the state.

INDUSTRY RESTRAINTS

Easy Availability of Counterfeit Products

Counterfeit bearings pose a significant global challenge in the bearing market, affecting markets with low-quality products that increase costs, and risks, and decrease machine reliability due to frequent failures. Counterfeit bearings typically come from countries with low manufacturing costs and weak intellectual property protection. These products use inferior materials and are made on outdated machines by low-paid workers, resulting in poor quality. The counterfeit bearings are often packaged to look like genuine products, misleading buyers and users. As the problem of counterfeiting continues to grow, companies in the bearing industry are ramping up efforts to combat the production and distribution of fake products. In October 2024, ElBaz Trading Establishment, a leading bearing supplier, highlighted those counterfeiting costs global industries as much as USD 461 billion, creating severe safety risks. Bearings, being critical components in various industries, are often targeted by counterfeiters.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The global bearing market by product is segmented into ball bearings, roller bearings, and others. In 2024, the ball bearings segment accounted for the highest share of revenue more than 42% in the bearing market. As industries such as automotive, aerospace, manufacturing, and construction grow, the demand for ball bearings increases. These industries rely on ball bearings for the smooth functioning of machinery and equipment. Ball bearings are integral components in electric motors used in a variety of consumer products such as fans, refrigerators, washing machines, and vacuum cleaners. Continuous improvements in material science and lubrication technology have led to the development of specialized bearings that offer greater precision, reduced friction, and higher durability, creating demand across various sectors.

Furthermore, the roller-bearing segment holds a significant segmental market share and exhibits the highest CAGR during the forecasted period. As emerging economies develop, there is an increase in infrastructure projects, automotive manufacturing, and industrial production, all of which require roller bearings. The demand for bearings in these regions has seen significant growth as industries evolve and expand. Roller bearings offer improved performance over traditional bearings in applications requiring high precision and low friction. Their ability to enhance system efficiency and extend the life of machinery drives demand across various sectors.

INSIGHTS BY APPLICATION

The global bearing market by application is segmented into automotive, aviation & aerospace, railways, construction, mining, electronics, and others. The automotive segment in the bearing market holds the largest segmental share and is exhibiting the highest CAGR of more than 6.50% during the forecast period. The automotive industry has seen a consistent rise in the demand for bearings due to the growing need for high-performance, fuel-efficient, and environmentally friendly vehicles. The increasing adoption of EV and hybrid vehicles has further boosted this demand, as these vehicles require specialized bearings to ensure optimal performance of electric motors, drivetrains, and regenerative braking systems. Additionally, the rising demand for autonomous and connected vehicles, which rely heavily on advanced sensors and motors, has resulted in greater bearing usage to support precision machinery and systems. As automotive manufacturers push for longer-lasting, quieter, and more efficient vehicles, the demand for high-quality bearings has surged.

Furthermore, the aviation & aerospace segment captured the second-highest share of revenue. In the aviation and aerospace sector, the demand for bearings is driven by the need for reliability, performance, and safety in critical components. The aerospace industry, particularly in the development of aircraft and space exploration technologies, requires high-performance bearings capable of withstanding high speeds, heavy loads, and variable temperatures. As the aviation industry grows with increased global air traffic and the expansion of commercial space exploration, the need for durable and high-precision bearings has risen. Also, innovations in aircraft design and propulsion systems have necessitated the development of advanced bearing technologies to meet the stringent demands of this sector.

INSIGHTS BY SALES CHANNEL

The OEM sales channel holds the most significant share of the global bearing market in 2024. In 2024, the OEM segment holds the highest global market share due to the critical role bearings play in the assembly of machinery and vehicles. OEMs generally have long-term contracts and stable relationships with bearing manufacturers, ensuring a steady flow of orders. The increasing trend of outsourcing production to regions with lower labor costs also contributes to higher bearing demand, as OEMs seek to enhance efficiency and reduce costs in production. Additionally, the growing emphasis on global supply chains and just-in-time manufacturing has led to a closer collaboration between bearing suppliers and OEMs to meet the ever-evolving requirements of the end products.

GEOGRAPHICAL ANALYSIS

In the global bearing market, the APAC region holds the largest share, driven by the region's strong industrialization, rapid urbanization, and robust manufacturing sector. APAC, particularly countries like China, Japan, India, and South Korea, are major contributors due to their large automotive, machinery, and equipment manufacturing industries, which extensively utilize bearings in various applications. Additionally, the region benefits from cost-effective production, an abundance of raw materials, and significant investments in infrastructure development, further propelling the demand for bearings.

Europe, with a significant contribution from countries like Germany, France, and the UK holds a significant share of the global bearing market. Europe has a well-established automotive industry and strong manufacturing base, which are key drivers for bearing demand. Stringent regulations regarding energy efficiency and reduced carbon footprints have prompted European manufacturers to invest in advanced, high-performance bearings, particularly in sectors like renewable energy, aerospace, and high-precision machinery. Additionally, the industrial machinery sector in countries like Germany, Italy, and France is expanding, demanding precision bearings for automation and robotics applications thereby supporting the bearing market growth. The aerospace and defense sectors also contribute to the rising demand, as European manufacturers invest in high-performance bearing solutions for aircraft and defense equipment. In North America, the U.S. is the dominant player in the bearing market. The demand for bearings in North America is primarily driven by the automotive, aerospace, and industrial machinery sectors. The region’s technological advancements and investments in research and development further support the adoption of innovative bearing solutions, particularly in EV and renewable energy.

Latin America, the Middle East & Africa together contribute a smaller portion of the global bearing market. In these regions, the market is influenced by the growing industrialization and infrastructure development, especially in countries like Brazil, South Africa, and Saudi Arabia. However, the demand is still relatively low compared to more industrialized regions, as many sectors requiring bearings are still in the early stages of development. Despite this, investments in energy, construction, and automotive sectors in these regions are expected to drive gradual growth in the bearing market in the coming years.

COMPETITIVE LANDSCAPE

The global bearing market is a highly competitive & consolidated and dynamic industry, with numerous players operating across different segments and regions. Leading companies in the global bearings market include SKF, Schaeffler Group, NTN Corporation, NSK Ltd, THE TIMKEN COMPANY, and JTEKT Corporation. These companies dominate the market due to their large-scale production capabilities, strong R&D focus, global presence, and established relationships with OEMs and end-users. These industry giants continually invest in innovation to develop advanced bearing solutions, such as hybrid bearings, self-lubricating bearings, and energy-efficient products, which help them maintain a competitive edge. They also emphasize cost control through lean manufacturing processes and supply chain optimization, which allows them to offer competitive prices while maintaining high product quality.

Recent Development in the Global Bearing Market

1. In May 2024, NTN Corporation developed a large-diameter deep groove ball bearing for coaxial e-Axles in EV. This bearing supports high-speed rotation with a dmn value of 1.5 million, providing over 50% lower torque compared to standard products. Through this, the company appeals to environmentally conscious customers and gains a competitive advantage in the bearings market.
2. In November 2024, SKF developed Infinium bearings using advanced Laser Metal Deposition (LMD) technology, enabling repeated remanufacturing for circular performance. Through this, the company enhanced increases their product portfolio and increased its consumer base in the bearing market.
3. In January 2025, Schaeffler introduced optimized current-insulated bearings from the J20G series, featuring an advanced Insutect A coating for enhanced protection against electrical currents. Through this Schaeffler can strengthen its presence in key sectors like rail, wind energy, and industrial automation, helping the company penetrate new markets and regions.