Home > Industrial Machinery > Industrial Equipment > Bearings > Roller Bearings Market

Roller Bearings Market Size

Report ID: GMI12460
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Roller Bearings Market Size

The roller bearings market was valued at USD 15 billion in 2023 and is estimated to grow at a CAGR of 4.8% during 2024 to 2032. The increase in industrial activities, particularly within the manufacturing, mining, and construction sectors, has significantly driven the demand for machinery equipped with roller bearings. The trend towards automation and the adoption of high-performance industrial machinery necessitates reliable components such as roller bearings to ensure operational efficiency and durability.

To get key market trends

Download Free Sample

The automotive sector remains a primary consumer of roller bearings, employing them in various vehicle components to reduce friction and enhance performance. The rise in vehicle production, especially in emerging economies, coupled with advancements in electric and hybrid vehicles, has bolstered the demand for specialized roller bearings designed to meet specific automotive requirements.

Ongoing research and development efforts have resulted in advanced roller bearing designs that offer improved load-carrying capacities, reduced maintenance needs, and extended service life. Innovations such as the integration of sensor units for condition monitoring and the use of lightweight, durable materials have expanded the application scope of roller bearings across various industries, including aerospace and renewable energy sectors.

Roller Bearings Market Report Attributes
Report Attribute	Details
Base Year:	2023
Roller Bearings Market Size in 2023:	USD 15 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.8%
2032 Value Projection:	USD 22.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	230
Tables, Charts & Figures:	397
Segments covered:	By Type, End-User Industry, Distribution Channel, Region
Growth Drivers:	Industrial expansion and automation Automotive industry growth Technological advancements and product innovation
Pitfalls & Challenges:	High production costs Emergence of alternative technologies

Learn more about the key segments shaping this market

Download Free Sample

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for roller bearings was reached USD 15 billion in 2023 and is estimated to grow at a 4.8% CAGR from 2024 to 2032, driven by increased industrial activities and automation.

The cylindrical roller bearings segment reached USD 5.7 billion in 2023 and is expected to grow at a 5% CAGR through 2032, due to its versatility and superior performance in handling heavy radial loads and high-speed applications.

The automotive segment accounted for over 35.9% of the revenue share in 2023 and is projected to grow at a 5.1% CAGR from 2024 to 2032, led by extensive use in vehicle components like wheels, engines, and transmissions.

The U.S. roller bearings market held a 77.1% share in 2023 and is expected to grow at a 4.6% CAGR from 2024 to 2032, propelled by a robust industrial base and strong automotive sector.

Key players in the roller bearings industry include Brammer, C&U Group, Daido Metal, Harbin Bearing Manufacturing, HKT Bearings, JTEKT, Luoyang LYC Bearing, Minebea, NBI Bearings Europe, NSK, NTN, RBC Bearings, Rexnord, Schaeffler Group, SKF, and The Timken Company.