Plain Bearing Market

The growth of various end-use industries is driving the market growth

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 rise of industrial automation is a critical driver for the Global Plain Bearing Market Industry. As industries increasingly adopt automated processes, the demand for reliable and efficient bearings escalates. Automated machinery requires bearings that can operate under high speeds and loads, which plain bearings are well-suited for. This trend is particularly evident in manufacturing and material handling sectors, where efficiency and reliability are paramount. The Global Plain Bearing Market Industry is expected to capitalize on this trend, as automation continues to reshape production landscapes, thereby fostering growth and innovation within the sector.

The Global Plain Bearing Market Industry is characterized by several key trends and projections that indicate its future trajectory. With a projected market value of 11.7 USD Billion in 2024 and an anticipated growth to 21.1 USD Billion by 2035, the industry is poised for substantial expansion. The compound annual growth rate of 5.5% from 2025 to 2035 underscores the increasing demand across various sectors, including automotive, aerospace, and renewable energy. These trends highlight the dynamic nature of the Global Plain Bearing Market Industry, suggesting a robust future driven by technological advancements and evolving industrial needs.

The Global Plain Bearing Market Industry is significantly influenced by the growth of the renewable energy sector. Wind turbines and solar energy systems require reliable and durable bearings to ensure optimal performance and longevity. As countries invest in renewable energy infrastructure, the demand for high-quality plain bearings is expected to rise. This trend is evident as the market anticipates reaching 21.1 USD Billion by 2035, with renewable energy applications contributing substantially to this figure. The Global Plain Bearing Market Industry thus stands to benefit from the increasing emphasis on sustainable energy solutions, highlighting the intersection of technology and environmental responsibility.

The Global Plain Bearing Market Industry is witnessing expansion in aerospace applications, driven by the increasing demand for lightweight and high-performance components. Aircraft manufacturers are increasingly utilizing plain bearings to enhance fuel efficiency and reduce overall weight. As the aerospace sector continues to innovate, the need for advanced bearing solutions becomes critical. This trend is expected to contribute to the overall growth of the market, as the aerospace industry seeks to improve performance and sustainability. The Global Plain Bearing Market Industry is thus positioned to benefit from these developments, reflecting the ongoing evolution of aerospace technology.

The Global Plain Bearing Market Industry experiences a notable surge in demand driven by the automotive sector. As vehicles become more advanced, the need for high-performance bearings that can withstand increased loads and temperatures is paramount. In 2024, the market is projected to reach 11.7 USD Billion, with automotive applications accounting for a significant portion of this growth. The shift towards electric vehicles further amplifies this demand, as these vehicles require specialized bearings for efficient operation. Consequently, the Global Plain Bearing Market Industry is poised for expansion, reflecting the automotive sector's ongoing evolution and technological advancements.

Technological advancements in manufacturing processes are reshaping the Global Plain Bearing Market Industry. Innovations such as additive manufacturing and precision machining enhance the quality and performance of plain bearings, allowing for greater customization and efficiency. These advancements not only improve product durability but also reduce production costs, making high-performance bearings more accessible to various industries. As a result, the market is likely to witness a compound annual growth rate of 5.5% from 2025 to 2035. This growth reflects the industry's adaptation to modern manufacturing techniques, ensuring that the Global Plain Bearing Market Industry remains competitive and responsive to evolving market needs.

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, Market Research Future 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.