US Bearings Market (2024-2030) | Industry, Share, Companies, Trends, Outlook, Growth, Forecast, Revenue, Size, Value & Analysis
Market Forecast By Types (Ball Bearings, Roller Bearings and Other Bearings including Pillow block and Mounted), By Roller Bearings Types (Ball Bearings, Roller Bearings, Other Bearings including Pillow Block and Mounted, Spherical Roller Bearings and Other Roller Bearings), By Sales Channels (OEM’s and Aftermarket Sales), By Applications (Aerospace & Railway, Agricultural Equipment Machinery, Mining & Oilfield Equipment Machinery, Automotive Machinery, Construction Machinery, and Other Machinery)and Competitive Landscape.
| Product Code: ETC001800 | Publication Date: Jul 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
US Bearings Market Highlights
| Report Name | US Bearings Market |
| Forecast period | 2024-2030 |
| CAGR | 5.6% |
| Growing Sector | Automotive |
Topics Covered in US Bearings Market Report
US Bearings Market report thoroughly covers the market by types, roller bearing types, sales channels and applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
US Bearings Market Synopsis
US Bearings Market is experiencing significant growth and projected to attain more growth in the coming years due to advancements in technology, increasing demand for energy-efficient solutions, and the expansion of end-use industries. Key players in the market are innovating with materials and designs to enhance performance and longevity. The push towards renewable energy and electric vehicles is also expected to create new opportunities for growth in the bearings market over the coming years. Bearings, which are designed to reduce friction and wear while supporting rotational or linear movement, play a vital role in the efficiency and reliability of machinery.
According to 6Wresearch, US Bearings Market size is expected to grow at a CAGR of 5.6% during 2024-2030. Several factors are driving the growth of US Bearings Market such as the rapid technological advancements in bearing materials and manufacturing processes. Innovations such as ceramic bearings and advanced lubrication technologies are enhancing the performance, durability, and efficiency of bearings, making them more attractive to various industries. Additionally, the growing focus on energy efficiency is pushing manufacturers to develop bearings that minimize energy loss and reduce operational costs. Furthermore, the increasing adoption of electric vehicles is another critical driver, as these vehicles require specialized bearings to handle the unique demands of electric powertrains. Apart from this, the expansion of renewable energy projects, such as wind and solar farms, is generating a higher demand for bearings capable of withstanding harsh environmental conditions and prolonged use.
However, US Bearings Market faces few restraints such as the volatility of raw material prices, particularly for steel and ceramics, which are essential for bearing production. Fluctuations in the cost of these materials can impact the overall manufacturing expenses, making it difficult for manufacturers to maintain competitive pricing. Additionally, the increasing complexity of bearing designs and the need for specialized manufacturing processes may require substantial capital investment, which smaller companies might find challenging to afford. Apart from this, the rising competition from low-cost manufacturers in emerging markets, which can put pressure on US-based companies to reduce their prices, potentially affecting profit margins.
US Bearings Market Leading Players
The key players include SKF, NSK Ltd, Timken Company, Schaeffler Group, NTN Corporation, JTEKT Corporation. These companies are known for their advanced bearing technology and applications in automotive, industrial, and aerospace sectors.
US Bearings Market Government Regulations
US Bearings Market is growing and government’s regulation and policies are helping in extension of the market. One of the key initiatives is the provision of tax incentives and grants for research and development (R&D), which encourage companies to invest in advanced bearing technologies and materials. Additionally, federal and state governments are promoting the adoption of renewable energy through subsidies and incentives for wind, solar, and hydroelectric projects. These initiatives directly increase the demand for high-performance bearings that can operate efficiently under challenging conditions. Furthermore, government regulations aimed at improving fuel efficiency and reducing emissions in the automotive sector are driving the development of energy-efficient bearings suitable for electric and hybrid vehicles.
Future Insights of the Market
The future of US Bearings Market looks promising due to various factors such as the integration of smart technologies into bearing designs. Smart bearings equipped with sensors and IoT capabilities can provide real-time data on performance and wear, enabling predictive maintenance and reducing the risk of unexpected breakdowns. This innovation is expected to be particularly beneficial in industries such as manufacturing and transportation, where equipment uptime is critical. Additionally, the continued emphasis on sustainability. As environmental regulations become stricter and industries strive to reduce their carbon footprints, the demand for eco-friendly bearing solutions will grow.
Market Segmentation by Types
According to Ravi Bhandari, Research Head, 6Wresearch, Ball bearings are set to experience significant growth in the future attributed to their versatility and widespread use across various industries. Their exceptional load-carrying capacity, reduced friction, and capability to handle both radial and axial loads.
Market Segmentation by Roller Bearing Types
Spherical roller bearings are poised for significant market penetration in coming years attributed to their ability to accommodate misalignment and handle high radial and axial loads, these bearings are indispensable in heavy-duty applications like mining, construction, and processing industries.
Market Segmentation by Sales Channels
OEM channels is expected to witness significant growth in the coming years attributed to industries like automotive, aerospace, and manufacturing advance technologically and expand their production capacities, the demand for high-quality bearings integrated directly into new machinery and vehicles will increase.
Market Segmentation by Applications
Automotive machinery sector is poised for considerable growth in the future attributed to the rapid advancements in electric vehicles (EVs). As the automotive industry transitions toward electrification, the demand for specialized bearings that can handle the unique requirements of EVs.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- US Bearings Market Overview
- US Bearings Market Outlook
- US Bearings Market Forecast
- US Bearings Market Size and Historical Data of US Bearings Market Revenues for the Period 2020-2030
- US Bearings Market Forecast of Revenues, Until 2030
- Historical Data of US Bearings Market Revenues for the Period 2020-2030, By Types
- Market Size & Forecast of US Bearings Market Revenues Until 2030F, By Types
- Historical Data of US Bearings Market Revenues for the Period 2020-2030, By Roller Bearing Types
- Market Size & Forecast of US Bearings Market Revenues Until 2030F, By Roller Bearing Types
- Historical Data of US Bearings Market Revenues for the Period 2020-2030, By Sales Channels
- Market Size & Forecast of US Bearings Market Revenues Until 2030F, By Sales Channels
- Historical Data of US Bearings Market Revenues for the Period 2020-2030, By Applications
- Market Size & Forecast of US Bearings Market Revenues Until 2030F, By Applications
- US Bearings Market Drivers
- US Bearings Market Restraints
- US Bearings Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- US Bearings Market Share, By Players
- US Bearings Market Share, By Countries
- US Bearings Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Covered
The report offers a comprehensive study of the subsequent market segments
By Types
- Ball Bearings
- Roller Bearings
- Other Bearings (Including Pillow Block and Mounted Bearings)
By Roller Bearing Types
- Ball Bearings
- Roller Bearings
- Other Bearings Including Pillow Block and Mounted Bearings
- Spherical Roller Bearings
- Other Roller Bearings
By Sales Channels
- Original Equipment Manufacturers (OEMs)
- Aftermarket Sales
By Applications
- Aerospace & Railway
- Agricultural Equipment Machinery
- Mining & Oilfield Equipment Machinery
- Automotive Machinery
- Construction Machinery Other Machinery
US Bearings Market (2024-2030); FAQs
The factors that are driving the market growth are the rapid technological advancements, the growing focus on energy efficiency and increasing adoption of electric vehicles.
The challenges faced by market are the volatility of raw material prices, the increasing complexity of bearing designs and the stringent regulatory requirements.
The key players include SKF, NSK Ltd, Timken Company, Schaeffler Group, NTN Corporation, JTEKT Corporation.
Government initiatives introduced in the market are the provision of tax incentives, grants for research and development and adoption of renewable energy through subsidies.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| Table of Contents |
| 1. Executive Summary |
| 2. Introduction |
| 2.1. Key Highlights of the Report |
| 2.2. Report Description |
| 2.3. Market Scope & Segmentation |
| 2.4. Research Methodology |
| 2.5. Assumptions |
| 3. US Bearings Market Overview |
| 3.1. US Bearings Market Revenues, 2020-2030F |
| 3.2. US Bearings Market Revenue Share, By Types, 2020 & 2030F |
| 3.3. US Bearings Market Revenue Share, By Sales Channels, 2020 & 2030F |
| 3.4. US Bearings Market Revenue Share, By Applications, 2020 & 2030F |
| 3.5. US Bearings Market - Industry Life Cycle, 2020 |
| 3.6. US Bearings Market - Porter’s Five Forces |
| 4. US Bearings Market Dynamics |
| 4.1. Impact Analysis |
| 4.2. Market Drivers |
| 4.3. Market Restraints |
| 5. US Bearings Market Trends |
| 6. US Bearings Market Overview, By Types |
| 6.1. US Ball Bearings Market Revenues, 2020-2030F |
| 6.2. US Roller Bearings Market Revenues, 2020-2030F |
| 6.2.1 US Cylindrical Roller Bearings Market Revenues, 2020-2030F |
| 6.2.2 US Tapered Roller Bearings Market Revenues, 2020-2030F |
| 6.2.3 US Spherical Roller Bearings Market Revenues, 2020-2030F |
| 6.2.4 US Needle Roller Bearings Market Revenues, 2020-2030F |
| 6.2.5 US Other Roller Bearings Market Revenues, 2020-2030F |
| 6.3. US Other Bearings Market Revenues, 2020-2030F |
| 7. US Bearings Market Overview, By Sales Channels |
| 7.1. US Bearings Market Revenues, By OEM's, 2020-2030F |
| 7.2. US Bearings Market Revenues, By Aftermarket Sales, 2020-2030F |
| 8. US Bearings Market Overview, By Applications |
| 8.1. US Railway & Aerospace Bearings Market Revenues, 2020-2030F |
| 8.2. US Agricultural Equipment Machinery Bearings Market Revenues, 2020-2030F |
| 8.3. US Construction Machinery Bearings Market Revenues, 2020-2030F |
| 8.4. US Oilfield Machinery Bearings Market Revenues, 2020-2030F |
| 8.5. US Automotive Bearings Market Revenues, 2020-2030F |
| 8.6. US Other Machinery Bearings Market Revenues, 2020-2030F |
| 9. US Bearings Market Key Performance Indicators |
| 10. US Bearings Market Opportunity Assessment |
| 10.1 US Bearings Market Opportunity Assessment, By Types, 2030F |
| 10.2 US Bearings Market Opportunity Assessment, By Sales Channel, 2030F |
| 10.3. US Bearings Market Opportunity Assessment, By Applications, 2030F |
| 11. US Bearings Market-Competitive Landscape |
| 11.1. US Bearings Market Competitive Benchmarking, By Operating & Technical Parameters |
| 11.2. US Bearings Market Revenue Share, By Company, 2023 |
| 13. Company Profiles |
| 14. Key Strategic Recommendations |
| 15. Disclaimer |
| List Of Figures |
| Figure 1. US Bearings Market Revenues, 2020-2030F ($ Billion) |
| Figure 2. US Bearings Market Industry Life Cycle |
| Figure 3. US Bearings Market Revenue Share, By Types, 2020 & 2030F |
| Figure 4. US Bearings Market Revenue Share, By By Sales Channels, 2020 & 2030F |
| Figure 5. US Bearings Market Revenue Share, By Applications, 2020 & 2030F |
| Figure 6. US Bearings Market Revenues, By Types, 2020-2030F |
| Figure 7. US Bearings Market Revenues, By OEM's, 2020-2030F ($Million) |
| Figure 8. US Bearings Market Revenues, By Aftermarket Sales, 2020-2030F ($Million) |
| Figure 9. US Bearings Market Opportunity Assessment, By Types, 2030F |
| List Of Tables |
| Table 1. US Roller Bearings Market Revenues, By Types, 2020-2030F ($Million) |
| Table 2. US Bearings Market Revenues, By Applications, 2020-2030F ($Million) |
Market Forecast By Types (Ball Bearings, Roller Bearings and Other Bearings including Pillow block and Mounted), By Roller Bearings Types (Ball Bearings, Roller Bearings, Other Bearings including Pillow Block and Mounted, Spherical Roller Bearings and Other Roller Bearings), By Sales Channels (OEM’s and Aftermarket Sales), By Applications (Aerospace & Railway, Agricultural Equipment Machinery, Mining & Oilfield Equipment Machinery, Automotive Machinery, Construction Machinery, and Other Machinery)and Competitive Landscape.
| Product Code: ETC001800 | Publication Date: Mar 2020 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
US bearings market is considered the largest revenue-generating market in the overall global bearings market in 2018 even though the bearings market slowed down in 2018 and declined further in 2019 due to a trade war between the US and China along with the outbreak of the coronavirus epidemic. US economy mostly relies on the service sector and as the country shuts down most of its economic activities and social interaction, the industrial sector is also expected to bear the brunt.
According to 6Wresearch, the US bearings market size is projected to grow at a CAGR of 1.4% during 2019–2025. Bearing sales are expected to improve slightly over the coming years as there would be an increase in levels of machinery production and output of construction, oilfield, and mining equipment, as well as growing shipments of engine, turbine, and power transmission equipment.
Roller bearing demand continued to outpace other product type bearings in 2018, due to recovery in the US motor vehicle market, accelerating machinery shipments, and increased sales of large, high-value roller bearings used in heavy machinery and wind turbines. However, ball bearings The US bearings registered less revenue owing to intense competition from low-cost foreign suppliers.
The market report thoroughly covers the market by types, sales channels, and applications. The US bearings market outlook report provides an unbiased and detailed analysis of the ongoing US bearings market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The United States bearing market is anticipated to register sound revenues in the coming years on the back of the substantial growth of the agriculture, aerospace, and automotive industry. Additionally, the rise in the use of vehicles in developed nations simultaneously increased demand for bearings for the manufacturing of vehicle parts such as steering, engine, and driveshaft which is shaping the automotive industry in an intelligent way is expected to be a major driver for the growth of the United states bearings market. Further, rapid industrialization is projected to dominate the overall market share owing to the rising use of bearings in several machines such as electric motors to operate the low and high speeds which is anticipated to foster the growth of the United states bearings market during the forecast period.
United States Bearings market is projected to register sound revenues in the foreseeable future on the back of increased deployment of bearings in the automotive segment of the industrial landscape of the country. Increased demand for bearings in the manufacturing of vehicle parts coupled with high penetration of premium vehicles due to a rise in disposable income has resulted in increased participation towards the purchase of technically advanced vehicles with the introduction of features like digitalized screen board and is expected to augment the deployment for bearings across the country in the coming years and is expected to benefit the US Bearings market to make serious headway towards the substantial growth during the forecast period.
The rise in the growth and development of the automotive industry is leading to an increased market geographic landscape and is expected to leave a positive impact on market growth in the coming years. A rise in the growth and infrastructural development is expected to be a growth driving factor for the market. Being of great use across various applications in many industries, bearings have gained a lot of popularity and have almost been declared the bread and butter of many industries. Since the work of bearings had been hidden based on their positioning in various industrial equipment, they have been hidden in a state of their complete utility being unveiled. But, due to massive industrialization in the US, the use of bearings has been increasing and as a result, is leading to the potential growth of the market. Additionally, the increased friction provided by bearings along with smooth vehicular movement has made the product utility advanced and up-graded and is leading to increased adoption of the same and as a result, is expected to be a growth contributing factor for the US bearing market in the coming future.
Bearings have been of immense use in both commercials as well as industrial use and have been gaining popularity in the market. bearings have been of immense use in both commercials as well as industrial use and have been gaining popularity in the market. The rise in the growth and development of the automotive industry is leading to an increased market geographic landscape and is expected to leave a positive impact on market growth in the coming years. A rise in the growth and infrastructural development is expected to be a growth driving factor for the market. Being of great use across various applications in many industries, bearings have gained a lot of popularity and have almost been declared the bread and butter of many industries. Since the work of bearings had been hidden based on their positioning in various industrial equipment, they have been hidden in a state of their complete utility being unveiled. But, due to massive industrialization in the US, the use of bearings has been increasing and as a result, is leading to the potential growth of the market. Additionally, the increased friction provided by bearings along with smooth vehicular movement has made the product utility advanced and up-graded and is leading to increased adoption of the same and as a result, is expected to be a growth contributing factor for the US bearing market in the coming future.
Key Highlights of the Report
- US Bearings Market Overview
- US Bearings Market Outlook
- US Bearings Market Forecast
- US Bearings Market Size and Historical Data of US Bearings Market Revenues for the Period 2015-2018
- US Bearings Market Forecast of Revenues, Until 2025
- Historical Data of US Bearings Market Revenues for the Period 2015-2018, By Types
- Market Size & Forecast of US Bearings Market Revenues Until 2025F, By Types
- Historical Data of US Bearings Market Revenues for the Period 2015-2018, By Roller Bearing Types
- Market Size & Forecast of US Bearings Market Revenues Until 2025F, By Roller Bearing Types
- Historical Data of US Bearings Market Revenues for the Period 2015-2018, By Sales Channels
- Market Size & Forecast of US Bearings Market Revenues Until 2025F, By Sales Channels
- Historical Data of US Bearings Market Revenues for the Period 2015-2018, By Applications
- Market Size & Forecast of US Bearings Market Revenues Until 2025F, By Applications
- US Bearings Market Drivers
- US Bearings Market Restraints
- US Bearings Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- US Bearings Market Share, By Players
- US Bearings Market Share, By Countries
- US Bearings Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Covered:
The report provides a detailed analysis of the following market segments:
By Types:
- Ball Bearings
- Roller Bearings
- Other Bearings (Pillow block, Mounted, etc.)
By Roller Bearings Types:
- Cylindrical Roller Bearings
- Tapered Roller Bearings
- Spherical Roller Bearings
- Needle Roller Bearings
- Other Roller Bearings
- Sales Channels:
- OEM’s
- Aftermarket Sales
By Applications:
- Aerospace & Railway
- Agricultural Equipment Machinery
- Mining & Oilfield Equipment Machinery
- Automotive Machinery
- Construction Machinery
- Other Machinery
Other Key Reports Available:
- Europe Bearings Market Report
- Africa Bearings Market Report
- Saudi Arabia Bearings Market Report
- US Bearings Market Report
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