Chicago, Aug. 06, 2025 (GLOBE NEWSWIRE) -- The global bearings market was valued at US$ 82.73 billion in 2024 and is expected to reach US$ 188.47 billion by 2033, growing at a CAGR of 9.58% during the forecast period 2025–2033.
The global bearings market is entering an era of profound transformation and accelerated growth, presenting extraordinary opportunities for stakeholders. The confluence of technological megatrends—including the seismic shift to electric vehicles (EVs), the global mandate for renewable energy, and the relentless march of industrial automation—is creating a fertile ground for innovation and expansion. The market's potential is underscored by impressive valuations, such as the Asia Pacific region alone achieving a value of US$ 37.22 billion in 2024 and the European market being valued at US$ 19.03 billion in the same year.
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Further illustrating this momentum, the consumption of ball and roller bearings in the Asia-Pacific region surged to 4.8 million tons in 2024. These figures are not just numbers, they represent a burgeoning demand for more sophisticated, durable, and specialized bearing solutions. As industries evolve, the complexity and performance requirements for these critical components are intensifying, ensuring that the bearings market will remain a dynamic and highly lucrative sector for the foreseeable future, with projections indicating a robust growth trajectory that will redefine industry benchmarks.
Key Findings in Bearings Market
| Market Forecast (2033) | US$ 188.47 billion |
| CAGR | 9.58% |
| Largest Region (2024) | Asia Pacific (45%) |
| By Type | Roller Bearings (43%) |
| By Material | Stainless Steel Alloys (89%) |
| By Size | 30-40mm (36%) |
| By Industry | Industrial (62%) |
| By Industrial | OEMs (65%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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The Electric Vehicle Revolution Is Powerfully Reshaping the Global Bearings Market
The automotive industry's transition to electric mobility is a primary engine propelling the market forward. This shift creates demand for specialized components designed to handle the unique torque and speed characteristics of electric motors. The global electric vehicle bearings market was valued at a substantial US$ 2.64 billion in 2024, a figure projected to soar from US$ 4.0 billion in 2025 to an impressive US$ 10.2 billion by 2033. This growth is directly linked to production forecasts, with EV production expected to exceed 30 million units by 2030.
Regionally, China's market is a powerhouse, generating approximately US$ 939.7 million in revenue from electric vehicle bearings in 2024. The demand extends to specific components, with the market for miniature ball bearings set to increase from $2.04 billion in 2024 to $2.19 billion in 2025, and is anticipated to reach a value of $2.91 billion by 2029, showcasing the granular opportunities within this automotive evolution.
Renewable Energy Expansion Provides a Sustained Tailwind for Bearing Sector Growth
The global commitment to clean energy is fueling unprecedented demand for high-performance bearings within the wind and solar sectors. In a clear demonstration of this trend, utility-scale solar and wind capacity additions constituted nearly 90% of all new energy infrastructure builds in the first three quarters of 2024. Solar capacity experienced a remarkable jump of 88%, adding 18.6 gigawatts (GW) in that period. While wind capacity additions saw a temporary decrease of 14% (2.6 GW), the long-term outlook remains incredibly strong.
By the end of 2024, the U.S. wind capacity is anticipated to reach 153.8 GW, with solar capacity expected to hit 128.2 GW after a record increase of 38.4 GW. This infrastructure boom translates directly to the Wind Power Bearings Market, valued at US$ 5,903.91 million in 2024 and projected to rise to US$ 6,063.32 million in 2025, eventually expanding to US$ 7,503.71 million by 2033. Significant investments, like Adani's 250 MW wind plant (July 2024) and the EIB's €5 billion initiative (August 2024), further solidify this promising outlook. The global market for wind energy bearings is estimated at $5 billion in 2025, projected to nearly double to $9 billion by 2033 and reach an astounding US$ 45.93 billion by 2035.
Aerospace and Defense Advancements Are Propelling Bearing Demand to New Altitudes
The aerospace and defense sectors are critical consumers of advanced, high-precision components, driving substantial growth in the specialized bearings market. The market is expected to grow from $8.68 billion in 2024 to $9.6 billion in 2025, with a forecast to reach $14.36 billion by 2029. Further projections value the market at US$ 12.28 billion in 2025, climbing to US$ 16.78 billion by 2030. This growth is underpinned by the recovery and expansion of commercial aviation, with the global fleet projected to expand to over 36,000 aircraft by 2033 from 27,400 in 2020. Aircraft manufacturer
Boeing anticipates the delivery of 43,975 new commercial aircraft by 2043, ensuring long-term demand. The entire global aerospace bearings market is projected to grow from $13.01 billion in 2024 to $21.73 billion by 2032. North America currently dominates this space, holding a 38.92% market share in 2023, highlighting its strategic importance.
Industrial Automation and Robotics Are Creating New Frontiers for Precision Bearings
The relentless integration of automation and robotics across manufacturing and logistics industries is fueling a specific and growing need for high-precision bearings. These components are essential for the accuracy, speed, and reliability of automated systems. A telling indicator of this trend is the prediction that by 2024, the number of vehicles with some degree of automation will exceed 54 million. While a single statistic, it represents a massive and complex ecosystem of robotic manufacturing lines, automated guided vehicles (AGVs) in warehouses, and sophisticated machinery, all of which are heavily reliant on advanced bearing technologies. The proliferation of automation is a foundational driver for the high-value segment of the bearings market, demanding components that can withstand continuous operation with minimal deviation, thereby ensuring the efficiency and productivity of these next-generation industrial environments.
Railway Sector Modernization is Placing Bearing Demand on the Fast Track
Modernization of rail networks and the global expansion of high-speed rail are creating a robust and sustained demand for durable railway bearings. The global railway sliding bearing market was valued at US$ 1.4 billion in 2024 and is projected to grow to approximately US$ 2.1 billion by 2034. The Chinese market alone accounted for over US$ 400.3 million in 2024. The broader Railway Bearing Market was estimated at a significant US$ 6.25 billion in 2024 and is expected to expand from US$ 6.53 billion in 2025 to US$ 9.70 billion by 2034.
Segment-wise, rolling element bearings in the railways are forecast to reach a valuation of US$ 4.2 billion by 2032, with Plain Bearings valued at US$ 1.3 billion. Further projections show the market growing from $1.33 billion in 2025 to about $3.14 billion in 2035. This growth is backed by massive government investment, including a $249.5 million U.S. infrastructure program, a £600 million UK upgrade plan, and anticipated Indian railway investments exceeding $7.6 billion by 2025.
Material Innovations in Advanced Ceramics Are Engineering the Future of Bearings
Innovation in materials science is a critical catalyst for growth of bearings market, enabling the development of bearings that are more efficient, durable, and lightweight. A prime example of this is SKF's introduction in February 2025 of a new line of ceramic ball-equipped polymer cage bearings specifically engineered for the demanding environment of electric vehicles. The impact of such innovations is significant, as the use of lightweight hybrid materials and ceramic hybrid bearings has been shown to reduce friction losses by up to 10%. The market is responding enthusiastically to these advancements.
The ball bearings segment, a core component of the overall market, was valued at approximately US$ 26.7 billion in 2024 and is expected to see explosive growth, reaching an estimated US$ 68.5 billion by 2034, driven in large part by the adoption of these superior materials.
A Global Perspective on Regional Dynamics of the Growing Bearings Market
The demand for bearings is a truly global phenomenon, with both mature and emerging economies contributing significantly to the market's expansion. The Asia Pacific market stands out, with its value surging to $32.20 billion in 2024, and it is predicted to be worth around US$ 96 billion by 2033. The sheer volume is also impressive, with consumption in the region projected to reach 5.8 million tons by the end of 2035.
In North America, the U.S. bearings market generated revenues of around US$ 8.2 billion in 2024, with projections showing it reaching approximately US$ 30 billion by 2034. Meanwhile, China's market is expected to grow to a value of US$ 43 billion by 2034, and India's total vehicle production reached 30.6 million vehicles in 2024, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricyclesin. It signals a strong domestic demand for automotive bearings.
The Intensely Competitive Landscape Demands Innovation From Key Market Players
The global bearings market is defined by fierce competition, prompting key players to invest heavily in R&D and strategic market expansion. NTN Corporation reported net sales of 825,587 million yen for the fiscal year ending March 31, 2025, with an operating income of 22,959 million yen. Despite a net loss, the company increased its annual dividend, signaling confidence.
Schaeffler AG showcased strong performance with revenues of 5.9 billion euros and capital expenditures of 250 million euros in Q1 2025, anticipating full-year revenues between 23 and 25 billion euros. Its Bearings & Industrial Solutions division alone generated revenue of 1,627 million euros in that quarter. In India, Schaeffler India Ltd. reported a profit of Rs 938.86 crore for the year ended 2024 on a total income of Rs 8,232.38 crore, reflecting its strong regional presence.
In a key strategic move, NSK Ltd. launched innovative bearings with embedded sensors in January 2024, highlighting the drive towards smart, data-driven components in the bearings market.
The Aftermarket and MRO Sector Presents a Significant and Growing Opportunity
The aftermarket, encompassing maintenance, repair, and operations (MRO), represents a vital and expanding revenue stream within the global bearings market. As the installed base of machinery, vehicles, and equipment across all industries ages, the need for replacement parts becomes more critical. This is particularly evident in the capital-intensive renewable energy sector, where the aftermarket segment for wind power bearings is growing at a robust annual rate of 9.1%.
Illustrating the long-term value, it is estimated that over a 25-year operational lifespan of a wind turbine, the average bearing replacement costs constitute approximately 5-7% of the total maintenance expenditures. This consistent, non-discretionary demand provides a stable and predictable source of revenue for manufacturers and distributors, balancing the cyclical nature of new equipment sales and underscoring the importance of a strong aftermarket strategy.
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Global Bearing Market Major Players:
- IKO International
- ISB Industries (Italcuscinetti S.p.A. a Socio Unico)
- JTEKT Corporation
- LYC Corp.
- NSK Ltd.
- NTN Corporation
- Schaeffler AG
- SKF
- Timken India Ltd.
- THK CO., Ltd.
- Other Prominent Players
Key Market Segmentation:
By Product:
- Ball Bearings
- Deep Groove Ball Bearings
- Self-Aligning Ball Bearings
- Angular-Contact Ball Bearings
- Thrust Ball Bearings
- Roller Bearings
- Tapered Roller Bearings
- Spherical Roller Bearings
- Cylindrical Roller Bearings
- Needle Roller Bearings
- Mounted Bearings
- Linear Bearings
- Slide Bearings
- Jewel Bearings
- Frictionless Bearings
- Others
By Size:
- 30 to 40 mm
- 41 to 50 mm
- 51 to 60 mm
- 61 to 70 mm
- 70 mm & above
By Material:
- Specialty Steel Alloys
- Plastic
- Ceramics
By Industry:
- Automotive
- OEM
- Aftermarket
- Industrial
- Agriculture
- Railway
- Mining
- Aerospace
- Machine Tools
- Exports
- Others
By Industrial:
- OEM’s
- Aftermarket
By Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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