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Roller Bearings Market Trends

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

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Roller Bearings Market Trends

Industrial activities, particularly in manufacturing, mining, and construction, are driving increased demand for machinery equipped with roller bearings. The shift towards automation and the adoption of high-performance industrial machinery necessitates reliable components like roller bearings to ensure efficiency and durability. The automotive sector remains a significant consumer of roller bearings, utilizing 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 tailored to meet specific automotive requirements.

Continuous research and development efforts have led to the creation of advanced roller bearing designs that offer improved load-carrying capacities, reduced maintenance needs, and extended service life.

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.