Magnet Bearings Market

Growth of power generation sector is driving the market growth

In the field of power generation, magnetic bearing generators are frequently used because of their higher power density. Compared to conventional low-speed generators, these magnetic bearing generators are far more practical. They provide advantages including reduced maintenance expenses and improved efficiency. Due to these nations' expanding renewable energy industries, power generation increased by 2.7% and 3.6%, respectively, in the U.S. and Europe in 2021. Most Asia-Pacific nations saw an increase in power generation in 2021, with China and India seeing particularly strong growth (+9.7% and +4.8%). 

The most strategically significant technology utilised to power modern devices is semiconductors. The semiconductor industry is being driven by an increase in demand for consumer electronics & other electronic devices. Magnetic bearings are being widely used by manufacturers in the semiconductor industry to achieve maximum output, dependability, high throughput, and high efficiency. These days, semiconductor technology has improved to the point that a single silicon piece can house more than 100 billion transistors. Companies from the United States, Taiwan, Japan, and the Netherlands are the industry leaders worldwide in the semiconductor industry. 

The Semiconductor Industry Association (SIA) estimates that the worldwide semiconductor industry's sales reached US$ 555.9 Bn in 2021, with the United States accounting for 46% of this total. According to region, North America saw the most increase in sales in 2021 (27.4%). For semiconductors, China is the biggest market. In 2021, the nation sold a total of US$ 192.5 B worth of semiconductors. European and Asian-Pacific annual sales both rose throughout the year by 27.3% and 25.9%, respectively.

The components of the active magnetic bearing system do not physically touch each other while they are rotating. Consequently, wear and friction are reduced. Due to the lack of lubrication requirements, these bearing systems are almost maintenance-free. With active magnetic bearings, operating and maintenance expenses are reduced in addition to the initial capital investment. Higher efficiency and faster speeds can be attained using these bearings. Active magnetic bearings are appropriate for extreme climatic circumstances, such as very low temperatures, corrosive environments, and zero gravity situations. Electric motors can run at a high speed thanks to these frictionless bearings.

Because of this, active magnetic bearing demand is increasing globally in end-use industries. Thus, driving the magnet bearings market revenue.

The Global Magnet Bearings Market Industry is projected to experience steady growth over the next decade. With a market value of 3.35 USD Billion in 2024, it is anticipated to reach 4.98 USD Billion by 2035, reflecting a compound annual growth rate of 3.67% from 2025 to 2035. This growth trajectory suggests a robust demand for magnet bearings across various applications, driven by technological advancements and increasing industrial automation. The market dynamics indicate a favorable environment for manufacturers and stakeholders, highlighting the potential for innovation and expansion within the magnet bearings sector.

The Global Magnet Bearings Market Industry is poised for growth due to the increasing investments in the renewable energy sector. Wind turbines and solar energy systems are increasingly utilizing magnet bearings to enhance efficiency and reduce maintenance requirements. The shift towards renewable energy sources is driven by global initiatives to combat climate change and reduce reliance on fossil fuels. As the demand for clean energy solutions rises, the magnet bearings market is likely to benefit significantly. This trend underscores the importance of magnet bearings in supporting the transition to sustainable energy systems, which is expected to be a major contributor to market growth in the coming years.

The rapid expansion of the electric vehicle market is a key driver for the Global Magnet Bearings Market Industry. As electric vehicles gain traction, the demand for efficient and reliable components, such as magnet bearings, is increasing. These bearings play a crucial role in enhancing the performance of electric motors, contributing to improved energy efficiency and reduced maintenance costs. The electric vehicle sector is projected to continue its growth trajectory, further fueling the magnet bearings market. This trend aligns with the broader shift towards sustainable transportation solutions, indicating a robust future for magnet bearings in this burgeoning industry.

The Global Magnet Bearings Market Industry is experiencing a notable surge in demand for energy-efficient solutions across various sectors. Industries are increasingly adopting magnet bearings due to their ability to reduce friction and enhance operational efficiency. This shift is driven by stringent regulations aimed at minimizing energy consumption and carbon emissions. As a result, the market is projected to reach 3.35 USD Billion in 2024, with a compound annual growth rate of 3.67% anticipated from 2025 to 2035. The growing emphasis on sustainability and energy conservation is likely to propel the adoption of magnet bearings in applications such as electric vehicles and renewable energy systems.

The rise of automation in manufacturing processes is a significant factor influencing the Global Magnet Bearings Market Industry. As industries adopt automated systems to enhance productivity and reduce operational costs, the demand for precision components, including magnet bearings, is increasing. These bearings provide superior performance in high-speed applications, making them ideal for automated machinery. The ongoing trend towards Industry 4.0 and smart manufacturing is likely to further drive the adoption of magnet bearings, as companies seek to optimize their operations. This shift towards automation presents a promising opportunity for the magnet bearings market, potentially leading to substantial growth in the coming years.

Technological innovations in magnetic materials are significantly influencing the Global Magnet Bearings Market Industry. The development of advanced materials, such as high-temperature superconductors and improved permanent magnets, enhances the performance and reliability of magnet bearings. These advancements facilitate the design of lighter and more efficient systems, which are crucial for applications in aerospace and high-speed machinery. As industries continue to seek higher performance standards, the market is expected to grow, potentially reaching 4.98 USD Billion by 2035. The integration of cutting-edge materials is likely to drive the evolution of magnet bearings, making them more appealing to manufacturers and end-users alike.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American magnet bearings market area will dominate this market because major market participants are present and the area is focused on technical improvements. The developed manufacturing and industrial industries in the area also support market expansion. The demand for electric vehicles and other industrial applications, rising environmental consciousness regarding the advantages of using magnetic bearings, and rising R&D spending by various companies are the main factors boosting the growth of the North American magnetic bearing market.

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 MAGNET BEARINGS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe magnet bearings market accounts for the second-largest market share due to the increase in R&D expenditures and the presence of many industries in the area. Due to the emphasis placed in the region on environmental sustainability and energy efficiency, Europe is a significant market for magnet bearings. The demand for magnet bearings is further fueled by the rising use of renewable energy sources like wind power.

Additionally, the power sector in both the developing and developed nations in the region is investing heavily in the development of substations and renewable energy sources, which will increase the demand for magnetic bearings in this region. Further, the German magnet bearings market held the largest market share, and the UK magnet bearings market was the fastest growing market in the European region

The Asia-Pacific Magnet bearings Market is expected to grow at the fastest CAGR from 2023 to 2032. The need for magnetic bearings in the area is increasing quickly. In terms of global bearing production, China comes in third place. With a 9.0% annual growth rate, the country's bearing market reached Yuan 193 Bn in 2020. Growth in the manufacturing, aerospace, and oil & gas sectors is promoting the magnetic bearing sector in Asia Pacific. 

Manufacturers are being encouraged to concentrate on employing custom bearings by the rise in new technology adoption and digitalization. The next several years are likely to see market advancement in the area accelerated by growth in the EV industry. Moreover, China’s magnet bearings market held the largest market share, and the Indian magnet bearings 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 magnet bearings 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, magnet bearings 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 magnet bearings industry to benefit clients and increase the market sector. In recent years, the magnet bearings industry has offered some of the most significant advantages to market. Major players in the magnet bearings market attempting to increase market demand by investing in research and development operations include Calnetix Technologies, Siemens AG, Waukesha Bearings Corporation, Mecos AG, Foshan Genesis, Synchrony, SKF AB and Celeroton AG.

The company Calnetix Technologies, LLC creates, develops, and produces industrial equipment. The business sells high-end CNC machines as well as motors, generators, magnetic bearings, and power electronics. Global customer service is provided by Calnetix Technologies. The mission of Calnetix Technologies, LLC is "Innovation That Drives Industries". They are changing the way the world produces and uses energy, which benefits both society and the environment. Innovative, fast technologies from Calnetix deliver great system efficiency, dependability, power density, and low total cost of ownership.

In a number of applications, including defence, aerospace, maritime, oil and gas, racing, and others, its solutions improve energy security, lower energy consumption, and produce fewer hazardous emissions.

The largest provider of gas-bearing turbo compressors worldwide is Celeroton. As a system supplier for compressors, they offer converters for fuel cells, noble gas recirculation and compression, pneumatics, cryogenics, clean/sterile air supply, gas recovery, and other industrial applications. With regard to compactness, service life, and performance, ultra-high-speed turbo compressors with contact- and oil-free gas bearings provide remarkable solutions. Its systems are substantially lighter and smaller as well as incredibly efficient when compared to compressors with typical speeds.

A wide range of pressure ratios, mass flows, pressure differences, and volume flows are all covered by the Celeroton family of turbo compressor products.