Plain Bearing Market Size was valued at USD 10.5 Billion in 2022. The Plain Bearing Market Type is projected to grow from USD 11.1 Billion in 2023 to USD 17.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2023 - 2032). Increased infrastructure spending, the development of new industrial projects, and the expansion of a variety of end-use sectors in both developed and developing economies are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growth of the Plain Bearing Market is mostly dependent on end-use industries like automotive, aerospace, energy, construction, oilfield, agricultural, gardening, and office products. The Asia Pacific area, which developed at a pace of 5.3% before the COVID-19 epidemic, is still the key driver of global growth, according to the most recent International Monetary Fund (IMF) data. China, India, and Japan's automotive, agricultural, gardening, construction, and office products industries are all expanding as a result of the region's expanding middle class, quick urbanization, and rising incomes. Growing demand from a variety of sectors around the world is expected to fuel growth in the Global Plain Bearing Market. Various trade and investment restrictions have been lifted in recent years to hasten the pace of plain bearings' mass manufacture. Governments from a number of nations are planning to launch programs to speed up flexible foreign direct investments. It has also caused the rate of car production to rise globally.
The demand for light and heavy commercial vehicles is anticipated to increase due to expanding infrastructure investments in developing nations like India, China, and Mexico. Over the forecast period, it is also anticipated to support market expansion for automotive bearings. Users of all bearing applications are increasingly requesting plain bearings that deliver high speeds with improved endurance and less wear. For high-speed bearing applications, such as wheel axles and traction motors, ball bearings and tapered bearings are compatible. OEMs also favor performance bearings with a long lifespan that don't need to be replaced frequently.
Automobile, aerospace, and industrial machinery manufacturers concentrate on routine maintenance tasks to keep the bearings in good condition and up to date. Regular wear-and-tear inspection, as well as routine mounting and demounting, are all part of it. Furthermore, it is anticipated that these maintenance procedures would result in an astounding aftermarket demand for plain bearings. One of the most important industries driving demand in the market is the automotive industry. Over the approaching years, the industry is expected to search for simple bearings that are extremely durable, economical, and energy efficient.
Plain bearings are in high demand due to expanding applications across several industries. These are widely utilized in machinery for the oil fields, industrial equipment, and agricultural and gardening equipment. The fourth generation of industrial manufacturing is anticipated, with the internet of things, cyber-physical systems, and computing playing a significant role. Bearings are essential for collecting process control data to track and evaluate a machine's performance. Manufacturers are moving toward the manufacture of mechatronic products and sensitive components as a strategy for the future. They may then integrate digital services more easily and prepare for the future. Currently, a small number of firms who have robust supply chains and distribution networks in important automotive industries dominate the global industry. There are numerous large-scale small manufacturers of automotive bearings in South East Asia. Thus, driving the Global Plain Bearing Market revenue.
The Plain Bearing Market segmentation, based on type, includes journal, linear, thrust, angular contact, and others. Journal segment dominated the global market in 2022. This is primarily attributable to the rise in demand for journal bearings across a range of end-use industries, including transportation, aerospace, heavy equipment, and energy. Journal bearings also possess qualities like exceptional strength and shock resistance. These bearings don't have any rolling components. When appropriate clearance and lubrication are present and the system is heavily loaded, these bearings function effectively.
Figure 1: Global Plain Bearing Market, by End Use Industry, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Plain Bearing Market segmentation, based on end use industry, includes automotive, industrial, aerospace, energy, construction machinery, agriculture & gardening equipment, oilfield machinery, office products, and others. Automotive segment dominated the Plain Bearing Market in 2022. This is mostly related to the rise in plain bearing demand in the automotive sector. The production of door hinges, center armrests, belt tensioners, stub axels, gear actuators, convertible top systems, pedal systems, seating systems, steering systems, and throttle valves, among other automotive components, uses plain bearings.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Global Plain Bearing Market dominated this market in 2022 (45.80%). This is because plain bearings are in greater demand across a range of sectors, including the automotive, aerospace, construction, and others. Further, the U.S. Global Plain Bearing Market held the largest market share, and the Canada Global Plain Bearing Market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL PLAIN BEARING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Global Plain Bearing Market accounted for the healthy market share in 2022. Due to the availability of cheap raw materials, low manufacturing costs, and the desire to better service the local market, the majority of the major businesses in Europe intend to relocate their production base to this area. Further, the German Global Plain Bearing Market held the largest market share, and the U.K Global Plain Bearing Market was the fastest growing market in the European region
The Asia Pacific Global Plain Bearing Market is expected to register significant growth from 2023 to 2032. This is a result of the region's growing demand for plain bearings from a variety of end-use industries, including the automotive, aerospace, building, and energy sectors. In the Asia-Pacific area, China, India, and Japan are the top producers and consumers of plain bearings. Asia Pacific is a region that is quickly developing and has many chances for business players. Moreover, China’s Global Plain Bearing Market held the largest market share, and the Indian Global Plain Bearing Market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Global Plain Bearing Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Plain Bearing Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Plain Bearing Industry to benefit clients and increase the market sector. In recent years, the Plain Bearing Industry has offered some of the most significant advantages to medicine. Major players in the Global Plain Bearing Market, including Altra Industrial Motion Corp., GGB, igus, Minebea Intec GmbH, NSK Ltd., NTN Corporation, PBC Linear, RBC Bearings Incorporated, SGL Group, SKF, Schaeffler AG, THK CO., LTD., Thomson Industries, Inc., Kashima Bearings, Inc., THE TIMKEN COMPANY, and ZOLLERN GmbH & Co. KG, are attempting to increase market demand by investing in research and development operations.
AB SKF (SKF) is a provider of goods, services, and solutions for lubrication systems, mechatronics, seals, and bearings. Technical assistance, condition monitoring, maintenance services, asset efficiency optimization, engineering consulting, including material analysis and testing, and training are just a few of the services the organization provides. To original equipment manufacturers and aftermarket clients in the aerospace, automotive, industrial goods and machine tool, construction, marine, oil and gas, agriculture, and home appliances industries, it offers a range of items and services. The corporation has production facilities and technological hubs across the Americas, Asia-Pacific, Middle East, and Europe. In Sweden's Vastra Gotland region of Goteborg, SKF has its headquarters. The SKF Group invested USD 44.3 million in March 2021 to upgrade and expand its Italian manufacturing facility in Airasca. The investment is anticipated to enable the Group's largest production facility in Italy to produce super-precision bearings for industrial applications.
The Timken Co. (Timken) is a creator, producer, and seller of mechanical parts. The company offers engineered bearings and power transmission products and services. Timken's engineered bearings portfolio offers tapered roller bearings, spherical and cylindrical roller bearings, ball bearings, housed bearings and plain bearings. Its power transmission products include linear motion products, lubrication systems, gear drives, belts, chain, couplings, industrial clutches and brakes, aerospace drive systems and other products, including seals and augers. Timken’s services components in the industrial customer's drive train include electric motors and generators, gearboxes, switch gears, bearings, couplings, central panels and assemblies, and maintenance services. It operates through distribution centers across the world. Timken is headquartered in Canton, Ohio, the U.S. In December 2020, Timken Company acquired the assets of Aurora Bearing Company. Aurora Bearing Company manufactures rod ends and spherical plain bearings which serve a diverse range of industrial sectors including aerospace and defense, racing, off-highway equipment, and packaging.
August 2020: At NTN Mettmann (Deutschland) GmbH, a division of the German manufacturing firm NTN Kugellagerfabrik (Deutschland) GmbH, NTN Corporation began mass-producing precision bearings for machine tools for the first time overseas.
Plain Bearing Type Outlook
Plain Bearing End Use Industry Outlook
Plain Bearing Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 10.5 Billion |
| Market Size 2023 | USD 11.1 Billion |
| Market Size 2032 | USD 17.0 Billion |
| Compound Annual Growth Rate (CAGR) | 5.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Altra Industrial Motion Corp., GGB, igus, Minebea Intec GmbH, NSK Ltd., NTN Corporation, PBC Linear, RBC Bearings Incorporated, SGL Group, SKF, Schaeffler AG, THK CO., LTD., Thomson Industries, Inc., Kashima Bearings, Inc., THE TIMKEN COMPANY, and ZOLLERN GmbH & Co. KG |
| Key Market Opportunities | Growth prospects in emerging economies |
| Key Market Dynamics | The growth of various end-use industries and increasing investments in infrastructure, new industrial projects, and the development of heavy machinery in developed and developing economies |
Plain Bearing Market Highlights:
Frequently Asked Questions (FAQ) :
The Plain Bearing Market size was valued at USD 10.5 Billion in 2022.
The global market is projected to grow at a CAGR of 5.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Altra Industrial Motion Corp., GGB, igus, Minebea Intec GmbH, NSK Ltd., NTN Corporation, PBC Linear, RBC Bearings Incorporated, SGL Group, SKF, Schaeffler AG, THK CO., LTD., Thomson Industries, Inc., Kashima Bearings, Inc., THE TIMKEN COMPANY, and ZOLLERN GmbH & Co. KG
The Journal Type dominated the market in 2022.
The Automotive End Use Industry had the largest share in the global market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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