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Bearings Market Share

Report ID: GMI111
Published Date: Jul 2024
Report Format: PDF

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Bearings Market Share

The key players operating in the market are SKF, NSK ltd, Schaeffer Ag, Timken, NTN corporation and JTEKT Corporation holding a market share of 20 % in 2023. These players focus on strategic partnerships and introduction of new bearings for market expansion. They heavily invest in research to introduce pumps integrated with innovative technology and garner maximum revenue in the market.

Bearings Market Companies

Major players operating in the bearings industry include:

Brammer PLC
C&U Group Company Limited
Daido Metal Company Limited
Harbin Bearing Manufacturing Co., Ltd
HKT Bearings Ltd.
JTEKT Corporation
Luoyang LYC Bearing Company Limited
Minebea Company Limited
NBI Bearings Europe
NSK Global
NTN Corporation
RBC Bearings Inc.
Rexnord Corporation
Schaeffler Group
SKF

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of bearings was worth USD 54.45 billion in 2023 and will grow at 8.9% CAGR between 2024 and 2032, driven by the rise in industrial automation.

The automotive segment captured 40.2% share of the bearing market in 2023, primarily due to the continuous growth in vehicle production and increasing demand for electric vehicles.

Asia Pacific bearings industry will reach USD 59.9 billion by 2032, propelled by rapid industrialization, urbanization, and infrastructure development in countries like China and India.

Daido Metal Company Limited, Harbin Bearing Manufacturing Co., Ltd, HKT Bearings Ltd., JTEKT Corporation, Luoyang LYC Bearing Company Limited, and others.