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Bearing Steel Market Share

Report ID: GMI6169
Published Date: Jul 2023
Report Format: PDF

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Bearing Steel Market Share

Major players operating in the bearing steel market include:

SKF Group
Timken Company
JTEKT Corporation
Nippon Steel Corporation
Schaeffler Group
Ovako Group
TATA Steel,
Steel India.

These players focus on strategic partnerships, new product launches, and commercialization efforts for market expansion. These players heavily invest in research to launch advanced products and garner maximum market revenue.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size for bearing steel was valued at around USD 5.9 Billion in 2022 and is predicted to reach USD 7.6 Billion by 2032, backed by the industrialization and expansion of the global manufacturing sector.

The ball bearings segment held a market share of around 35% in 2022 as ball bearings are widely utilized in automotive components, electric motors, machinery, and appliances due to their versatility & ability to handle both radial & axial loads.

The U.S. dominated North American bearing steel with a value of USD 3.2 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032 owing to a strong manufacturing base including sectors such as automotive, machinery, aerospace, and energy.

SKF Group, Timken Company, JTEKT Corporation, Nippon Steel Corporation, Schaeffler Group, Ovako Group, TATA Steel, and Steel India.