Bearings Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 139
  • SKU: IRTNTR43275

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The bearings market share is expected to increase by USD 11.02 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3%.

This bearings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bearings market segmentations by product (anti-friction bearings, magnetic bearings, and other bearings), end-user (automotive industry, heavy industry, ARS industry, and others), and geography (APAC, Europe, North America, South America, and MEA). The bearings market report also offers information on several market vendors, including AB SKF, ASAHI SEIKO Co. Ltd., C&U Group, JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG, and The Timken Co. among others.

What will the Bearings Market Size be During the Forecast Period?

Bearings Market Size

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Bearings Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The strong demand for high-quality bearings is notably driving the bearings market growth, although factors such as increasing popularity of counterfeit products and used bearings may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bearings market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bearings Market Driver

One of the key factors driving the bearings market growth is the strong demand for high-quality bearings. The improving economic conditions in developing economies are creating a huge requirement for highly efficient machines for manufacturing industrial goods and household appliances. Thus, high-quality bearings need to be employed in these machines to reduce friction, ensuring more efficient, less energy-intensive, and more environment-friendly operations. The machine with less friction lasts longer and reduces the breakdown time, which further results in high productivity. Additionally, the vendors manufacturing industrial machinery are putting in efforts to achieve operational efficiency and increase their profitability due to the intense pressure from competitors. Thus, most of these vendors are adopting advanced bearings that help them control the manufacturing cost by reducing the frictional losses significantly. The demand for rolling bearings and special bearings, such as high-precision bearings and tapered bearings, is continuously rising among end-users due to their abilities to meet multiple industrial application-specific needs by providing high efficiency to machines.

Key Bearings Market Trend

Another key factor driving bearings market growth is the increasing adoption of electric vehicles. The high adoption of electric vehicles in Europe, the US, and APAC, mostly in China and Japan, due to the presence of regulations on carbon emissions and environmental safety, is encouraging vendors to develop new hydraulic equipment for electric vehicles. Sales of electric cars in the US increased by 45% between June 2016 and June 2017. Energy Innovation: Policy and Technology LLC (Energy Innovations) has released a version update of its Energy Policy Simulator computer model. Several automakers are developing new designs and multi-featured electric vehicles. Several manufacturers of electric vehicles are shifting their facilities to China or other countries in APAC as the electric vehicle market in China has high growth potential. Vendors are developing environment-friendly technologies for electric vehicles to reduce carbon footprint. Thus, high investments in R&D activities related to the development of electric vehicles and updates of existing systems are expected to drive the growth of the market during the forecast period.

Key Bearings Market Challenge

Increasing popularity of counterfeit products and used bearings is one of the key challenges hindering the bearings market growth. Bearings are highly essential for moving components in a machine to reduce the frictional loss, which is unavoidable. The market is experiencing billions of dollars in sales every year with a large base of end-users. These products are illegally labeled and priced similar to original brands. Thus, frequent breakdown time occurs within factories, which creates a bad image for original manufacturers worldwide. The used bearings market draws end-users that do not prefer to wait until the end of a bearing lifecycle and risk machine breakdown with prolonged downtime. The adoption of used bearings adversely affects the revenue generated from the sales of new ones. Additionally, used bearings are widely available online on various web portals, such as the e-commerce portal of Alibaba Group Holding Ltd. Significant differences in the prices of used bearings compared with the prices of new bearings can encourage many end-users to invest in used bearings. Hence, the growing adoption of used bearings is expected to negatively impact the growth of the global bearings market during the forecast period.

This bearings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global bearings market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bearings market during the forecast period.

Who are the Major Bearings Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • AB SKF
  • ASAHI SEIKO Co. Ltd.
  • C&U Group
  • JTEKT Corp.
  • LYC Bearing Corp.
  • NSK Ltd.
  • NTN Corp.
  • RBC Bearings Inc.
  • Schaeffler AG
  • The Timken Co.

This statistical study of the bearings market encompasses successful business strategies deployed by the key vendors. The bearings market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • ASAHI SEIKO Co. Ltd. - The company offers different type of bearings including ball bearings, aluminum housed bearings, eco series stainless silver bearings, thermoplastic housed bearings, high temperature non regreasable bearings, rolling bearings, accu lock series ball bearings, hi moler under water bearings, high temperature submersible bearings, and triple sealed ball bearings.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The bearings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Bearings Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the bearings market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence. 

Which are the Key Regions for Bearings Market?

Bearings Market Market segmentation by region

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56% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for bearings in APAC. Market growth in this region will be faster than the growth of the market in other regions.

 A primary factor for the growth of the market in focus is the growing demand for bearings from automotive, aerospace, electronic and electrical, and other end-users in developing countries such as China and India. The rise in disposable income is also expected to accelerate the demand for machinery in automobiles, electronics and electrical devices, and other goods, which require bearings. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The bearings market in APAC witnessed certain challenges, owing to the COVID-19 outbreak in 2020. The outbreak affected many countries in the region, such as China, India, South Korea, and Japan. As of May 11, 2021, the total number of COVID-19 cases reported in India, Indonesia, and Japan was around 23.00 million, 1.71 million, and 0.64 million, respectively. Since early 2020, many countries have been imposing nationwide lockdowns to prevent the community spread of the disease. The outbreak affected the economy, supply chains, and the industrial and commercial sectors of the region in 2020 and early 2021. The increasing incidence of COVID-19 in APAC is hindering supply chains and related activities, and subsequently, the demand for bearings in the region. However, once the travel restrictions are eased and the manufacturing and end-user industries, including automobiles and heavy industries, begin to operate at full capacity with the containment of the disease, the regional market is expected to witness an increase in growth during the latter half of the forecast period.

What are the Revenue-generating Product Segments in the Bearings Market?

Bearings Market Segmentation

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The bearings market share growth by the anti-friction bearings will be significant during the forecast period. Anti-friction bearings reduce the friction between the rotating or moving parts of equipment such as shafts, axles, and wheels. At present, end-users prefer application-specific bearings as they enhance the ease of use and efficiency of the equipment. The demand for anti-friction bearings is growing with the rise in core manufacturing processes in the industrial segment and automotive industries, as these bearings find extensive use in all industries such as automotive, aerospace, railways, wind generation, and defense.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the bearings market size and actionable market insights on post COVID-19 impact on each segment.


Bearings Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

$ 11.02 billion

Market structure


YoY growth (%)


Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 56%

Key consumer countries

China, US, Japan, Germany, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB SKF, ASAHI SEIKO Co. Ltd., C&U Group, JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG, and The Timken Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Bearings Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive bearings market growth during the next five years
  • Precise estimation of the bearings market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the bearings market industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of bearings market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis - Industrial machinery

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Anti-friction bearings - Market size and forecast 2020-2025
      • Exhibit 17: Anti-friction bearings - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Anti-friction bearings - Year-over-year growth 2020-2025 (%)
    • 5.4 Magnetic bearings - Market size and forecast 2020-2025
      • Exhibit 19: Magnetic bearings - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Magnetic bearings - Year-over-year growth 2020-2025 (%)
    • 5.5 Other bearings - Market size and forecast 2020-2025
      • Exhibit 21: Other bearings - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Other bearings - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 24: End user - Market share 2020-2025 (%)
    • 6.2 Comparison by End user
      • Exhibit 25: Comparison by End user
    • 6.3 Automotive industry - Market size and forecast 2020-2025
      • Exhibit 26: Automotive industry - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Automotive industry - Year-over-year growth 2020-2025 (%)
    • 6.4 Heavy industry - Market size and forecast 2020-2025
      • Exhibit 28: Heavy industry - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Heavy industry - Year-over-year growth 2020-2025 (%)
    • 6.5 ARS industry - Market size and forecast 2020-2025
      • Exhibit 30: ARS industry - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: ARS industry - Year-over-year growth 2020-2025 (%)
    • 6.6 Others - Market size and forecast 2020-2025
      • Exhibit 32: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 33: Others - Year-over-year growth 2020-2025 (%)
    • 6.7 Market opportunity by End user
      • Exhibit 34: Market opportunity by End user

    7 Customer landscape

    • 7.1 Customer Landscape
      • Exhibit 35: Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 36: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 37: Geographic comparison
    • 8.3 APAC - Market size and forecast 2020-2025
      • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 North America - Market size and forecast 2020-2025
      • Exhibit 42: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: North America - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 44: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 46: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 47: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 48: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 49: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • Exhibit 51: Vendor landscape
          • 10.2 Landscape disruption
            • Exhibit 52: Landscape disruption
            • Exhibit 53: Industry risks

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 54: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 55: Market positioning of vendors
          • 11.3 AB SKF
            • Exhibit 56: AB SKF - Overview
            • Exhibit 57: AB SKF - Business segments
            • Exhibit 58: AB SKF - Key offerings
            • Exhibit 59: AB SKF - Segment focus
          • 11.4 ASAHI SEIKO Co. Ltd.
            • Exhibit 60: ASAHI SEIKO Co. Ltd. - Overview
            • Exhibit 61: ASAHI SEIKO Co. Ltd. - Product and service
            • Exhibit 62: ASAHI SEIKO Co. Ltd. - Key offerings
          • 11.5 C&U Group
            • Exhibit 63: C&U Group - Overview
            • Exhibit 64: C&U Group - Product and service
            • Exhibit 65: C&U Group - Key news
            • Exhibit 66: C&U Group - Key offerings
          • 11.6 JTEKT Corp.
            • Exhibit 67: JTEKT Corp. - Overview
            • Exhibit 68: JTEKT Corp. - Business segments
            • Exhibit 69: JTEKT Corp. - Key offerings
            • Exhibit 70: JTEKT Corp. - Segment focus
          • 11.7 LYC Bearing Corp.
            • Exhibit 71: LYC Bearing Corp. - Overview
            • Exhibit 72: LYC Bearing Corp. - Product and service
            • Exhibit 73: LYC Bearing Corp. - Key offerings
          • 11.8 NSK Ltd.
            • Exhibit 74: NSK Ltd. - Overview
            • Exhibit 75: NSK Ltd. - Business segments
            • Exhibit 76: NSK Ltd.- Key news
            • Exhibit 77: NSK Ltd. - Key offerings
            • Exhibit 78: NSK Ltd. - Segment focus
          • 11.9 NTN Corp.
            • Exhibit 79: NTN Corp. - Overview
            • Exhibit 80: NTN Corp. - Business segments
            • Exhibit 81: NTN Corp. - Key offerings
            • Exhibit 82: NTN Corp. - Segment focus
          • 11.10 RBC Bearings Inc.
            • Exhibit 83: RBC Bearings Inc. - Overview
            • Exhibit 84: RBC Bearings Inc. - Business segments
            • Exhibit 85: RBC Bearings Inc. - Key news
            • Exhibit 86: RBC Bearings Inc. - Key offerings
            • Exhibit 87: RBC Bearings Inc. - Segment focus
          • 11.11 Schaeffler AG
            • Exhibit 88: Schaeffler AG - Overview
            • Exhibit 89: Schaeffler AG - Business segments
            • Exhibit 90: Schaeffler AG - Key news
            • Exhibit 91: Schaeffler AG - Key offerings
            • Exhibit 92: Schaeffler AG - Segment focus
          • 11.12 The Timken Co.
            • Exhibit 93: The Timken Co. - Overview
            • Exhibit 94: The Timken Co. - Business segments
            • Exhibit 95: The Timken Co. - Key offerings
            • Exhibit 96: The Timken Co. - Segment focus

          12 Appendix

          • 12.1 Scope of the report
            • 12.2 Currency conversion rates for US$
              • Exhibit 97: Currency conversion rates for US$
            • 12.3 Research methodology
              • Exhibit 98: Research Methodology
              • Exhibit 99: Validation techniques employed for market sizing
              • Exhibit 100: Information sources
            • 12.4 List of abbreviations
              • Exhibit 101: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts

            TechnavioREPORT WRITING


            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis


            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Bearings Market market growth will increase by $11.02 bn during 2021-2025.
            The bearings market market is expected to grow at a CAGR of 3% during 2021-2025.
            Technavio has segmented the bearings market market by product (Anti-friction bearings, Magnetic bearings, and Other bearings) ,end user (Automotive industry, Heavy industry, ARS industry, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
            AB SKF, ASAHI SEIKO Co. Ltd., C&U Group, JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., RBC Bearings Inc., Schaeffler AG, The Timken Co. are a few of the key vendors in the bearings market market.
            APAC will register the highest growth rate of 56% among the other regions. Therefore, the bearings market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            • China
            • US
            • Japan
            • Germany
            • UK
            • Canada
            The key factors driving the bearings market market growth are:
            • strong demand for high-quality bearings
            • Increasing adoption of electric vehicles
            The bearings market market vendors should focus on grabbing business opportunities from the anti-friction bearings segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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            • Parent market analysis
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            • Detailed vendors report with competitive landscape
            • Covid-19 impact and recovery analysis
            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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