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The plain bearings market size is projected to reach US$ 14.56 billion by 2031 from US$ 9.54 billion in 2023. The market is expected to register a CAGR of 5.4% during 2023–2031. The emergence of innovative eco-friendly plain bearings is likely to bring in new trends in the market.
Plain Bearings Market Analysis
Plain bearings are chosen for high-load and low-speed applications in various industries, including automotive, power tools, and domestic appliances. Plain bearings are utilized in the assembly of engine compartments, wheel suspensions, vehicle steering systems, brakes, pedals, pumps, and seats. Increasing automotive sales and production across the globe drives the global plain bearings market in tandem.
Further, plain bearings are widely used in the manufacturing of railways and metros to offer linear motion. Increasing investments in the railway sector by several governments across the world will promote the plain bearings market growth during the forecast period. According to the India Brand Equity Foundation Organization, the Indian Railways revenue reached US$ 28.75 billion in 2024. Also, during 2023–2024, the Indian government Union Budget allocated a capital of US$ 29 billion for the railway projects.
Plain Bearings Market Overview
Plain bearings have several applications in automotive, transportation, manufacturing, construction, energy, oil & gas, agriculture, aerospace & defense, and mining facilities. They are also utilized in power and oil production plants. With substantial government investments being made in the automotive and construction sectors due to growing urbanization, the demand for plain bearings will continue to experience an upward thrust.
Several private and public authorities are currently making substantial investments in construction, agriculture, power, and gas industries, with many planned projects in the development stages. Furthermore, the agriculture sector is witnessing massive growth with the introduction of smart and precision farming. The sector will continue to flourish due to government initiatives and funding for smart farming technologies. The plain bearings market outlook continues to be positive, as it is well-positioned to serve the growing requirements of end-user industries such as construction, aerospace & defense, oil & gas, agriculture, and manufacturing.
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Plain Bearings Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Plain Bearings Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Plain Bearings Market Drivers and Opportunities
Growing Need of Plain Bearings in Several Industrial Applications
Plain bearings are chosen for high-load and low-speed applications in various industrial applications, including automotive, power tools, and domestic appliances. In automobiles, plain bearings provide automotive support and guide moving components of the engine. They are used in the assembly of engine compartments, wheel suspensions, vehicle steering systems, brakes, pedals, pumps, and seats. Increasing automotive sales and production across the globe drives the global plain-bearing market. According to the International Organization of Motor Vehicle Manufacturers, global automotive production reached 93.5 million units in 2023, up by 10% compared to 2022. Plain bearings comprise bearing shells that are locked in place in the bearing seat. Plain bearings are used in higher precision, lower weight applications where there is the presence of less moving parts of industrial vehicles such as excavators, tractors, dump trucks, and various cultivation and tillage construction machines. The plain bearings are cost-effective, easy to assemble and simpler in structure.
Further, plain bearing is widely used in the manufacturing of packaging machines that drives the market growth. The global packaging industry revenue was around US$ 1,113.39 billion in 2023, with packaging machinery sales around US$ 27.45 billion in 2023, recording a CAGR of 4.8% during the forecast period 2023–2031. Packaging growth is typically higher in countries such as India, China, the US, Mexico, and Germany. Furthermore, plain bearings are widely used in power tools such as pneumatic fasteners, wrenches and drills, drivers, saws, guns, and masonry anchors.
Increasing Investments in Infrastructure Development Projects in Energy & Power Sector
Plain bearings are used in infrastructure developments such as dams, rolling stock, water gates, hydropower, and wind power projects. A wind turbine consists of several bearings, including plain bearings, that provide relative movement between several adjacent parts. Plain bearing offers a low-friction manner and offer higher efficiency. According to the International Energy Agency Report in 2023, nearly US$ 2.8 trillion was invested in the energy sector in 2023. Of these, over US$ 1.7 trillion was invested in clean energy development projects, including renewable power, wind energy, grids, storage management, low-emission fuels, and efficiency improvements for electrification. Such rising investment in the energy sector across the world can create lucrative opportunities for the plain-bearing market growth during the forecast period.
Following Chart Shows Annual Clean Energy Investment by Major Countries:
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Plain Bearings Market Report Segmentation Analysis
Key segments that contributed to the derivation of the plain bearings market analysis are product type and application.
- Based on product type, the global plain bearings market is segmented into spherical bearings, rod ends, bushings. The spherical bearings segment held the largest market share in 2023.
- Based on application, the market is divided into agriculture, construction, industrial vehicles, automotive and transportation, aerospace and defense, energy and power, others. The automotive and transportation segment held the largest share of the market in 2023.
Plain Bearings Market Share Analysis by Geography
The geographic scope of the plain bearings market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The US, Canada, and Mexico are the major nations contributing to the growth of the plain bearings market in North America. Mounting construction activities and industrialization across the region boosts the market growth substantially. Surging building and construction investments, including government funding toward infrastructure developments, are driving the demand for industrial vehicles, which fuels the application of plain bearings in the region. In August 2021, the US Ministry of Transportation and Infrastructure invested ~US$ 837.0 million for the highway expansion project between Western Canada in Alberta and British Columbia. This project includes the construction of bridges and the expansion of two-lane highways to four-lane highways. Such infrastructure development projects require various industrial vehicles and equipment, including forklifts, cranes, road rollers, and dump trucks. Thus, infrastructure development is expanding with a rise in construction projects across different countries in North America, which drives the plain bearings market.
In 2023, the Bipartisan Infrastructure Law by the Federal Transit Administration funded over US$ 300 billion for projects meant to rebuild and repair roads and bridges in the US. In addition, in 2023, it provided financial aid of US$ 25 billion to renovate and upgrade airports, and US$ 17 billion to improve US ports and waterways. Thus, the burgeoning government focus on infrastructure development is anticipated to favor the growth of the plain bearings market in the US. Aerospace & defense is one of the most notable end users of plain bearings in the US. The US handles more than 59,000 tons of cargo sent and received worldwide. The increasing number of aircraft in the US military and commercial sectors is a significant factor driving the plain bearings market, as companies deploy advanced aircraft components integrated with plain bearings to ensure smooth operations.
RBC Bearings Incorporated, Bailey International LLC., The Timken Company, and AST Bearings are among the leading plain bearings manufacturers operating in North America. The Timken Company offers Poly-Round bearings fabricated from high-performance bearing-grade polymer materials or specialty metal alloys. AST Bearings offers Spherical Plain Bearings, which are appropriate for heavy-duty, off-highway vehicles; construction, mining, and logging equipment; agricultural equipment; packaging and textile equipment; and robotics products.
Plain Bearings Market Report Scope
Plain Bearings Market News and Recent Developments
The plain bearings market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the plain bearings market are listed below:
The Timken Company, a global leader in engineered bearings and industrial motion products, has reached an agreement to acquire Engineered Solutions Group (a.k.a. Innovative Mechanical Solutions or iMECH), based in Houston, Texas. iMECH manufactures thrust bearings, radial bearings, specialty coatings and other components primarily used in the energy industry. The business employs approximately 70 people and projects revenue of approximately US$30 million for calendar year 2023. (Source: The Timken Company, Press Release, October 2023)
Plain Bearings Market Report Coverage and Deliverables
The "Plain Bearings Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Plain bearings market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Plain bearings market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Plain bearings market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the plain bearings market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia Pacific dominated the global plain bearing market. The surge in the automotive across Asia Pacific countries propels the demand for plain bearings.
Rheinmetall AG, RBC Bearing Incorporated, Bailey International LLC, The Timken Co., AST Bearing LLC, NTN Corp, IKO International, Inc., SKF AB, Regal Rexnord Corp, and Daido Metal Co. Ltd are the key market players operating in the global plain bearing market.
Plain bearings are used in infrastructure developments such as dams, rolling stock, water gates, hydropower, and wind power projects. A wind turbine consists of several bearings, including plain bearings, that provide relative movement between several adjacent parts. Such rising investment in the energy sector across the world can create lucrative opportunities for the plain-bearing market growth during the forecast period
Growing requirement of plain bearings across industries is one of the factors that is driving the demand of the plain bearings. In automobiles, plain bearings provide automotive support and guide moving components of the engine. They are used in the assembly of engine compartments, wheel suspensions, vehicle steering systems, brakes, pedals, pumps, and seats. Increasing automotive sales and production across the globe drives the global plain-bearing market. According to the International Organization of Motor Vehicle Manufacturers, global automotive production reached 93.5 million units in 2023, up by 10% compared to 2022.
The List of Companies - Plain Bearings Market
- Rheinmetall AG
- RBC Bearings Incorporated
- Bailey International LLC
- The Timken Co
- AST Bearings LLC
- NTN Corp
- IKO International, Inc.
- SKF AB
- Regal Rexnord Corp
- DAIDO METAL CO., LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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