Plain Bearing Market To USD 20.33 Billion By 2032 Owing To The Increasing Demand For Efficient Machinery Solutions | Research By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Plain Bearing market is growing rapidly as industries like automotive, aerospace, and manufacturing increasingly rely on them to reduce friction, enhance durability, and improve efficiency in machinery.

Austin, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “ The Plain Bearing Market size was estimated at USD 12.88 billion in 2023 and is expected to reach USD 20.33 billion by 2032, at a CAGR of 5.20% during the forecast period of 2024-2032. ”

Driving Growth in the Plain Bearing Market: Technological Advancements, Industrial Demand, and Sustainability Trends

The Plain Bearing market is witnessing significant growth driven by increasing demand for durable, low-maintenance components in various industrial applications. These bearings, which reduce friction between moving parts, are widely used in automotive, aerospace, manufacturing, and heavy machinery sectors due to their ability to withstand high loads and provide reliable performance under extreme conditions. Technological advancements in materials, such as the development of composite bearings, have enhanced their efficiency and extended their operational lifespan. The shift toward automation and the growing focus on reducing operational costs have also spurred the demand for plain bearings, particularly in industries requiring precision and high performance.

In addition to this, there is a rise in the adoption of plain bearings in electric vehicles (EVs) and renewable energy sectors, as these industries demand components that are energy-efficient and environmentally friendly. The trend toward lighter and more compact components is influencing the development of new bearing designs, such as self-lubricating and maintenance-free versions. Sustainability concerns are also driving innovations aimed at reducing the environmental impact of bearings during manufacturing and disposal.

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Key Companies:

• NTN Corporation (Spherical plain bearings, bushings, thrust bearings)
• THK Co., Ltd. (Linear plain bearings, slide bushings)
• Zollern GmbH & Co. KG (Hydrodynamic plain bearings, bimetal bearings)
• SKF Group (Journal bearings, thrust bearings, bushings)
• GGB Bearing Technology (Metal-polymer bearings, fiber-reinforced composite bearings)
• Boston Gear LLC (Sleeve bearings, oil-impregnated bushings)
• Minebea Mitsumi Inc. (Pivot bearings, sleeve bearings, ball bushings)
• Thomson Industries Inc. (Plain linear bearings, bushing bearings)
• Schaeffler Technologies AG & Co. KG (Spherical plain bearings, rod ends)
• Timken Company (Journal bearings, custom bushings, thrust bearings)
• RBC Bearings Incorporated (Heavy-duty bushings, high-load plain bearings)
• Igus GmbH (Plastic bushings, dry-tech plain bearings)
• NSK Ltd. (Thrust plain bearings, sleeve bearings, rod ends)
• Saint-Gobain Performance Plastics (Polymer plain bearings, self-lubricating bearings)
• Federal-Mogul LLC (Bimetallic bearings, bronze bearings)
• Kaydon Corporation (Custom-engineered plain bearings, split bronze bearings)
• Oiles Corporation (Self-lubricating bearings, metal composite bearings)
• Daido Metal Co., Ltd. (Engine bearings, industrial bushings)
• Caterpillar Inc. (Heavy-duty bushings, thrust bearings)
• Berliss Bearing Company (Bronze bushings, sleeve bearings)

Plain Bearing Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 12.88 Billion
Market Size by 2032	USD 20.33 Billion
CAGR	CAGR of 5.20% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By Type (Journal, Linear, Thrust, Angular Contact, Others) . By End-use Industry (Automotive, Industrial, Aerospace, Energy, Construction Machinery, Agriculture & Gardening Equipment, Oilfield Machinery, Office Products, Others)
Key Drivers	. Rapid industrialization in developing countries drives significant demand for plain bearings, essential for durable and efficient machinery across growing sectors like manufacturing, automotive, and energy

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Technological Advancements Boost Plain Bearings' Performance and Adoption Across Industries

Technological advancements in manufacturing have greatly enhanced the performance of plain bearings, contributing to their widespread use across various industries. Innovations in materials and production techniques have resulted in bearings that are more durable, offer lower friction, and require less frequent maintenance. These improvements have made plain bearings an attractive option for industries that prioritize reliability and operational efficiency. With extended lifespans and reduced downtime, these advanced bearings support the smooth functioning of critical machinery, thereby driving their increased adoption in sectors such as automotive, industrial equipment, and aerospace, where performance and longevity are paramount.

Journal Bearings and Automotive Sectors Drive Market Growth in 2023

The Journal Bearings segment led the market with a share exceeding 34% in 2023. Known for supporting radial loads and ensuring smooth, low-friction motion, these bearings are highly favored in various applications. Their cost-effectiveness and reliability make them a preferred choice in industrial machinery, automotive engines, turbines, and compressors. Journal bearings are essential for enhancing the performance and longevity of equipment by reducing friction and wear, which further contributes to their widespread use in industries requiring durable, efficient, and high-performing components for rotational motion.

The Automotive segment dominated with a market share of over 32% in 2023. This demand is fueled by their crucial role in reducing friction and wear in automotive components like engines, transmissions, and suspension systems. The increasing shift toward electric vehicles (EVs) is further expanding opportunities for plain bearings, especially in drivetrain and battery systems. As EVs become more prevalent, the need for high-performance bearings to ensure the efficiency and longevity of these systems is driving significant growth in the market, positioning the automotive sector as a key driver in the plain bearing industry.

North America Leads the Plain Bearing Market, While Asia-Pacific Emerges as the Fastest-Growing Region

North America held the largest share of the Plain Bearing Market, accounting for over 42% in 2023. This growth is driven by key industries like automotive, aerospace, and heavy machinery, all of which depend on high-quality bearings for optimal performance. The United States plays a significant role, with strong demand in sectors such as aerospace, where reliability and performance are crucial. Additionally, ongoing technological advancements and a robust industrial infrastructure support the continued growth of the plain bearing market in the region, reinforcing North America's leading position in the global market.

The Asia-Pacific region is the fastest-growing market for plain bearings, driven by the rapid industrialization of emerging economies like China and India. These nations' robust manufacturing sectors fuel demand across various industries, particularly automotive, construction, and heavy equipment. As infrastructure development continues and manufacturing capacities rise, the need for plain bearings increases, contributing to market growth. The region's economic expansion, coupled with ongoing industrial advancements, makes it a key driver of the global plain bearings market.

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Recent Development

In December 2024: NSK developed its 7th generation low-friction tapered roller bearings, achieving a 20% reduction in friction across the entire rotation speed range. This innovation enhances fuel/electricity efficiency in vehicles, including ICE, HEV, PHEV, and EV, by optimizing the number of rollers. NSK aims for annual sales of 15.0 billion yen by 2030.

Table of Contents – Major Key Points

1. Introduction

• Market Definition
• Scope (Inclusion and Exclusions)
• Research Assumptions

2. Executive Summary

• Market Overview
• Regional Synopsis
• Competitive Summary

3. Research Methodology

• Top-Down Approach
• Bottom-up Approach
• Data Validation
• Primary Interviews

4. Market Dynamics Impact Analysis

• Market Driving Factors Analysis
• PESTLE Analysis
• Porter's Five Forces Model

5. Statistical Insights and Trends Reporting

• Production Capacity and Utilization, by Region, by Type (2023)
• Feedstock Prices, by Region, by Type (2023)
• Regulatory Impact, by Region, by Type (2023)
• Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region (2023)
• Innovation and R&D, by Type (2023)

6. Competitive Landscape

• List of Major Companies, By Region
• Market Share Analysis, By Region
• By Product Benchmarking
• Strategic Initiatives
• Technological Advancements
• Market Positioning and Branding

7. Plain Bearing Market Segmentation, By Type

8. Plain Bearing Market Segmentation, By End-use Industry

9. Regional Analysis

10. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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