Austin, May 21, 2025 (GLOBE NEWSWIRE) -- The Sensor Bearing Market Size was valued at USD 7.51 billion in 2023 and is expected to reach USD 12.20 billion by 2032, growing at a CAGR of 5.67% over the forecast period 2024–2032.
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The sensor bearing market is witnessing significant expansion, propelled by the rising demand for advanced sensor technologies in electric vehicles and industrial automation. These innovations are enhancing operational efficiency, safety, and predictive maintenance capabilities across various sectors.
U.S. Sensor Bearing Market Surges Toward USD 2.42 Billion by 2032, Driven by Automotive Innovation and Industry 4.0 Integration
The U.S. Sensor Bearing Market was valued at USD 1.42 billion in 2023 and is projected to reach USD 2.42 billion by 2032, growing at a CAGR of 6.22% from 2024 to 2032. The automotive industry continues to be a significant segment of the market, as sensor bearings improve the safety and efficiency of vehicles.
Key Players:
- Harbin Bearing Manufacturing Co., Ltd – (Deep Groove Ball Bearings, Tapered Roller Bearings)
- Schaeffler Technologies AG & Co. KG – (FAG SmartCheck Sensor Bearing, INA Axial Angular Contact Roller Bearings)
- Wafangdian Bearing Co. Ltd – (Spherical Roller Bearings, Cylindrical Roller Bearings)
- The Timken Company – (Timken Sensor-Powered Bearings, Tapered Roller Bearings)
- ABB Group – (ABB Ability Smart Sensors, High-Performance Ball Bearings)
- NTN Corporation – (NTN Sentinel Series Bearings, NTN Sensor Integrated Bearings)
- JTEKT Corporation – (Koyo Sensor Bearings, JTEKT Tapered Roller Bearings)
- Fersa Bearings – (Fersa Smart Bearings, Wheel Hub Bearings)
- Mageba SA – (Structural Bearings, Pot Bearings)
- NSK Corporation – (NSK Condition Monitoring Bearings, Deep Groove Ball Bearings)
- Nachi Europe GmbH – (Nachi Precision Bearings, Hydraulic Roller Bearings)
- Homson Industries Inc. – (Automotive Bearings, Industrial Ball Bearings)
- BRTEC – (Heavy-Duty Truck Bearings, Hub Assembly Bearings)
Sensor Bearing Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 7.51 Billion |
| Market Size by 2032 | USD 12.20 Billion |
| CAGR | CAGR of 5.67% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Functionality – (Speed, Temperature, Vibration, Displacement, Others) • By Application – (Anti-lock Braking System, Material Handling Equipment, Electric Motors, Others) • By End Use – (Automotive, Transportation, Metal & Mining, Oil & Gas, Aerospace & Defense, Others) |
| Key Drivers | • Increasing Adoption of Predictive Maintenance and IoT-Enabled Smart Bearings Drives Sensor Bearing Market Growth. |
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Speed Sensor Bearings Lead by Functionality, ABS Dominates Application, and Automotive Sector Drives End-Use Demand
By Functionality: In 2023, the speed sensor bearing segment held the largest share, accounting for 55.64% of the global sensor bearing market revenue. This dominance can be credited to its wide use in the automotive, industrial, and aerospace industries. Speedo sensor bearings play a very important role as they mainly involve the usage of the rotation of shaft or wheels, which are required for performance and safety. In cars, they are critical to anti-lock braking systems (ABS) and traction control. Market growth is also being driven by their increasing use in electric motors and automation systems. Mobility and machinery applications that require accurate motion detection and operational efficiency drive the footprint of speed sensor bearings around the world.
By Application: The ABS application segment accounted for the highest revenue share of 40.38% in 2023 within the sensor bearing market. The growth of the market is attributed to the growing vehicle safety standards and stringent regulatory norms in the rest of the world pertaining to braking systems. In anti-lock brake (ABS) systems, sensor bearings sense wheel speed and send real-time signals to the vehicle’s control unit to prevent any potential wheel lockup during rapid braking. A growing consumer awareness of road safety, in addition to government mandates for ABS in both passenger and commercial vehicles, is driving demand for ABS sensor bearings, particularly in emerging markets where production continues to rise.
By End Use: In 2023, the automotive sector emerged as the leading end-use segment in the sensor bearing market and is expected to retain its dominant position in the future. Factors such as the rise in global vehicle production, increasing integration of advanced driver-assistance systems (ADAS), and the adoption of electric vehicles (EVs) are driving this growth. Motor sensors used in vehicles are responsible for supplying essential information for systems that control ABS, electronic stability control, and the powertrain. Sensor bearings are critical to the future of a smarter, safer, and more connected automotive sector. In addition, there is a growing trend for lightweight and efficient vehicle components, which will help in their wider adoption.
Asia Pacific Leads Global Sensor-Bearing Market in 2023, North America Emerges as Fastest-Growing Region
In 2023, the Asia Pacific region is expected to hold the largest share in the sensor-bearing market, accounting for 45.46% of the global market. Such a dominance is fueled by the swift industrialization and the growing manufacturing ministries in major industrialized countries like China, Japan, and India. The automotive industry is one of the critical end-users of sensor bearings, and these countries have showcased a growing trend in automotive production. Moreover, the growing automation in manufacturing and a multiplicative increase in demand for high-performance machinery are expected to boost the market. Being home to China’s undeterred industrial base, advanced technology-integrated Japan, and a burgeoning automotive industry in India, the region is also marked for the deployment of sensor-bearing, making sure that the Asia Pacific remains the front-runner in the global arena.
The North American sensor-bearing market is projected to grow at the fastest compound annual growth rate (CAGR) of 6.60%. The growth of the market is primarily due to the continuous demand in the automotive and aerospace industry and growing industrial automation across North America , mainly in the U.S. and Canada. Integrated vehicles and aircraft use sensor bearings for performance monitoring and predictive maintenance. Substantial focus on smart manufacturing and digital transformation is increasing the use of sensor-integrated components across end-use industries to enhance their operational efficiency. Moreover, North America is a multifaceted region with significant automotive and aerospace industries and major investment in R&D, resulting in increased use of sensor-bearing in various applications in this region.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Sensor Bearing Market Segmentation, By Application
8. Sensor Bearing Market Segmentation, By End Use
9. Sensor Bearing Market Segmentation, By Functionality
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practice
13. Conclusion
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