Study #: 4044 | Published: 05/2021 | Pages: 283 | Individual User License: US$ 6,600

Global demand for bearings is projected to grow 5.2% per year to $100 billion in 2025, rebounding from lows in 2020. Sales of bearings will climb rapidly during the post-pandemic period. Growth will be fueled by:

  • improving economic conditions around the world and a recovery in global consumer spending (from lows in 2020)
  • the lifting of COVID-19 restrictions on businesses and people
  • increasing durable goods manufacturing activity, particularly of motor vehicles
  • rising foreign investment in the manufacturing sectors of Asia/Pacific, Africa/Mideast, Central and South American, and East European countries
  • the development of new, state-of-the-art bearings technologies and the growing use of more sophisticated bearings in developing nations

However, competition from alternative technologies (e.g., fluid and magnetic bearings), together with the ongoing shift from ICE to electric (which require fewer bearings) motor vehicles, will constrain even larger gains.

The Asia/Pacific Region to Post Largest Gains

Led by China, the Asia/Pacific region is forecast to account for 61% of all new bearing demand between 2020 and 2025. The Asia/Pacific region experienced less severe turmoil in 2020 than many regions, and its recovery is expected to begin at an earlier date because multiple regional countries handled the pandemic effectively. Additionally, the region’s highly competitive durable goods industries have strong growth prospects, and foreign investment in the manufacturing sectors of regional countries (e.g., India, Thailand) will recover at a particularly swift pace during the post-pandemic period. The region also features a developing aerospace equipment industry and is a major supplier of ICE motorcycles, in addition to e-bikes, which have strong growth prospects through 2025.

Automotive & Aerospace Bearing Demand to Grow Rapidly

Global sales of bearings used in aerospace equipment and motor vehicles are projected to grow at a fast rate through 2025, with automobiles in particular offering strong gains (44% of all new product demand). Both industries struggled in 2020 due to restrictions on travel and halting of production due to the pandemic:

  • OEM automotive bearing demand will benefit from rebounds in production of automobiles, trucks, buses, and other motor vehicles (e.g., vans), while aftermarket sales will benefit from significant increases in use of motor vehicles by businesses and consumers as COVID-19 restrictions are lifted.
  • In aerospace, advances in the construction of drones, satellites, and rockets, together with the increasing use of more sophisticated aerospace bearings, will provide the impetus for gains. The return of international travel as restrictions imposed in 2020 are lifted will also support gains.

However, a semiconductor shortage will limit motor vehicle production in 2021 in multiple countries around the world (particularly the US), at least in the short term.


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Table of Contents

1. Executive Summary

2. Impact of COVID-19 Pandemic

COVID-19 General Trends

COVID-19 & Global Economic Growth

Impact on the Global Bearings Industry

3. Overview

Study Scope

Historical Market Trends

Regional Trends

Supply & Demand Dynamics

Demand by Region

Production by Region

International Trade

Impact of Tariffs

Pricing Trends

4. Factors Impacting Bearing Demand

Materials Competition

Counterfeiting Issues

Technology & Product Innovation

Standards & Regulations

Sustainability Initiatives

5. Products

Demand by Product

Ball Bearings

Product Description

Product Trends & Demand by Region

Roller Bearings

Product Description

Product Trends & Demand by Region

Plain Bearings

Product Description

Product Trends & Demand by Region

Mounted & Combination Bearings

Product Description

Product Trends & Demand by Region

Bearing Parts

Scope & Product Description

Product Trends & Demand by Region

6. Markets

Demand by Market

Machinery

Market Scope

Demand Trends

Motor Vehicles

Market Scope

Demand Trends

Motorcycles

Market Scope

Demand Trends

Aerospace

Market Scope

Demand Trends

Other Markets

Market Scope

Demand Trends

7. North America

North America: Bearing Market Size & Historical Trends

North America: Supply & Demand

North America: Demand by Market

North America: Market Share

United States

United States: Bearing Market Size & Historical Trends

United States: Supply & Demand

United States: Demand by Market

Mexico

Mexico: Bearing Market Size & Historical Trends

Mexico: Supply & Demand

Mexico: Demand by Market

Canada

Canada: Bearing Market Size & Historical Trends

Canada: Supply & Demand

Canada: Demand by Market

8. Central & South America

Central & South America: Bearing Market Size & Historical Trends

Central & South America: Supply & Demand

Central & South America: Demand by Market

Central & South America: Market Share

Brazil

Brazil: Bearing Market Size & Historical Trends

Brazil: Supply & Demand

Brazil: Demand by Market

Other Central & South America

Other Central & South America: Bearing Market Size & Historical Trends

Other Central & South America: Supply & Demand

Other Central & South America: Demand by Market

9. Western Europe

Western Europe: Bearing Market Size & Historical Trends

Western Europe: Supply & Demand

Western Europe: Demand by Market

Western Europe: Market Share

Germany

Germany: Bearing Market Size & Historical Trends

Germany: Supply & Demand

Germany: Demand by Market

Italy

Italy: Bearing Market Size & Historical Trends

Italy: Supply & Demand

Italy: Demand by Market

France

France: Bearing Market Size & Historical Trends

France: Supply & Demand

France: Demand by Market

Spain

Spain: Bearing Market Size & Historical Trends

Spain: Supply & Demand

Spain: Demand by Market

United Kingdom

United Kingdom: Bearing Market Size & Historical Trends

United Kingdom: Supply & Demand

United Kingdom: Demand by Market

Other Western Europe

Other Western Europe: Bearing Market Size & Historical Trends

Other Western Europe: Supply & Demand

Other Western Europe: Demand by Market

10. Eastern Europe

Eastern Europe: Bearing Market Size & Historical Trends

Eastern Europe: Supply & Demand

Eastern Europe: Demand by Market

Eastern Europe: Market Share

Russia

Russia: Bearing Market Size & Historical Trends

Russia: Supply & Demand

Russia: Demand by Market

Other Eastern Europe

Other Eastern Europe: Bearing Market Size & Historical Trends

Other Eastern Europe: Supply & Demand

Other Eastern Europe: Demand by Market

11. Asia/Pacific

Asia/Pacific: Bearing Market Size & Historical Trends

Asia/Pacific: Supply & Demand

Asia/Pacific: Demand by Market

Asia/Pacific: Market Share

China

China: Bearing Market Size & Historical Trends

China: Supply & Demand

China: Demand by Market

Japan

Japan: Bearing Market Size & Historical Trends

Japan: Supply & Demand

Japan: Demand by Market

South Korea

South Korea: Bearing Market Size & Historical Trends

South Korea: Supply & Demand

South Korea: Demand by Market

India

India: Bearing Market Size & Historical Trends

India: Supply & Demand

India: Demand by Market

Taiwan

Taiwan: Bearing Market Size & Historical Trends

Taiwan: Supply & Demand

Taiwan: Demand by Market

Thailand

Thailand: Bearing Market Size & Historical Trends

Thailand: Supply & Demand

Thailand: Demand by Market

Other Asia/Pacific

Other Asia/Pacific: Bearing Market Size & Historical Trends

Other Asia/Pacific: Supply & Demand

Other Asia/Pacific: Demand by Market

12. Africa/Mideast

Africa/Mideast: Bearing Market Size & Historical Trends

Africa/Mideast: Supply & Demand

Africa/Mideast: Demand by Market

Africa/Mideast: Market Share

Turkey

Turkey: Bearing Market Size & Historical Trends

Turkey: Supply & Demand

Turkey: Demand by Market

Other Africa/Mideast

Other Africa/Mideast: Bearing Market Size & Historical Trends

Other Africa/Mideast: Supply & Demand

Other Africa/Mideast: Demand by Market

13. Industry Structure

Key Findings & Industry Composition

Market Share

Mergers & Acquisitions

List of Industry Participants

14. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Exchange Rates

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Outlook

Global Population

Global Manufacturing Outlook

Global Motor Vehicle Production

Global Motor Vehicles in Use


List of Tables

2. Impact of COVID-19 Pandemic

Table 2-1 | Global Gross Domestic Product, 2019 - 2022 (billion 2019 dollars)

Table 2-2 | Annual Global Bearing Demand by Market, 2019 - 2021 (million dollars)

Table 2-3 | Annual Global Bearing Demand by Product, 2019 - 2021 (million dollars)

3. Overview

Table 3-1 | Global Bearing Demand, 2010 - 2020 (million dollars)

Table 3-2 | Global Bearing Demand by Region, 2010 - 2030 (million dollars)

Table 3-3 | Global Bearing Production by Region, 2010 - 2030 (million dollars)

Table 3-4 | Global Bearing Net Exports by Region, 2010 - 2030 (million dollars)

Table 3-5 | Global Bearing Pricing Index (2019=100)

5. Products

Table 5-1 | Global Bearing Demand by Product, 2010 - 2030 (million dollars & billion units)

Table 5-2 | Global Ball Bearing Demand by Region, 2010 - 2030 (million dollars)

Table 5-3 | Global Roller Bearing Demand by Type & Region, 2010 - 2030 (million dollars)

Table 5-4 | Global Plain Bearing Demand by Type & Region, 2010 - 2030 (million dollars)

Table 5-5 | Global Mounted & Combination Bearing Demand by Region, 2010 - 2030 (million dollars)

Table 5-6 | Global Bearing Parts Demand by Region, 2010 - 2030 (million dollars)

6. Markets

Table 6-1 | Global Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 6-2 | Global Machinery Bearing Demand by Region, 2010 - 2030 (million dollars)

Table 6-3 | Global Motor Vehicle Bearing Demand by Application & Region, 2010 - 2030 (million dollars)

Table 6-4 | Global Motorcycle Bearing Demand by Region, 2010 - 2030 (million dollars)

Table 6-5 | Global Aerospace Equipment Bearing Demand by Region, 2010 - 2030 (million dollars)

Table 6-6 | Other Global Bearing Markets by Region, 2010 - 2030 (million dollars)

7. North America

Table 7-1 | North America: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 7-2 | North America: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 7-3 | United States: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 7-4 | United States: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 7-5 | Mexico: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 7-6 | Mexico: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 7-7 | Canada: Bearing Supply & Demand by Product, 2010 - 2030 (million US dollars)

Table 7-8 | Canada: Bearing Demand by Market, 2010 - 2030 (million US dollars)

8. Central & South America

Table 8-1 | Central & South America: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 8-2 | Central & South America: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 8-3 | Brazil: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 8-4 | Brazil: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 8-5 | Other Central & South America: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 8-6 | Other Central & South America: Bearing Demand by Market, 2010 - 2030 (million dollars)

9. Western Europe

Table 9-1 | Western Europe: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-2 | Western Europe: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 9-3 | Germany: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-4 | Germany: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 9-5 | Italy: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-6 | Italy: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 9-7 | France: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-8 | France: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 9-9 | Spain: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-10 | Spain: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 9-11 | United Kingdom: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-12 | United Kingdom: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 9-13 | Other Western Europe: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 9-14 | Other Western Europe: Bearing Demand by Market, 2010 - 2030 (million dollars)

10. Eastern Europe

Table 10-1 | Eastern Europe: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 10-2 | Eastern Europe: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 10-3 | Russia: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 10-4 | Russia: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 10-5 | Other Eastern Europe: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 10-6 | Other Eastern Europe: Bearing Demand by Market, 2010 - 2030 (million dollars)

11. Asia/Pacific

Table 11-1 | Asia/Pacific: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-2 | Asia/Pacific: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 11-3 | China: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-4 | China: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 11-5 | Japan: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-6 | Japan: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 11-7 | South Korea: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-8 | South Korea: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 11-9 | India: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-10 | India: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 11-11 | Taiwan: Bearing Supply & Demand by Product, 2010 - 2030 (million US dollars)

Table 11-12 | Taiwan: Bearing Demand by Market, 2010 - 2030 (million US dollars)

Table 11-13 | Thailand: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-14 | Thailand: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 11-15 | Other Asia/Pacific: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 11-16 | Other Asia/Pacific: Bearing Demand by Market, 2010 - 2030 (million dollars)

12. Africa/Mideast

Table 12-1 | Africa/Mideast: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 12-2 | Africa/Mideast: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 12-3 | Turkey: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 12-4 | Turkey: Bearing Demand by Market, 2010 - 2030 (million dollars)

Table 12-5 | Other Africa/Mideast: Bearing Supply & Demand by Product, 2010 - 2030 (million dollars)

Table 12-6 | Other Africa/Mideast: Bearing Demand by Market, 2010 - 2030 (million dollars)

13. Industry Structure

Table 13-1 | Global Bearings Sales by Company, 2020 (million dollars)

Table 13-2 | Selected Mergers & Acquisitions

Table 13-3 | Selected Industry Participants

14. Appendix

Table 14-1 | Relevant HS Codes

Table 14-2 | Relevant NACE Codes

Table 14-3 | Relevant NAICS & SIC Codes

Table 14-4 | Abbreviations & Acronyms Used in Study

Table 14-5 | Countries in North America

Table 14-6 | Countries in Central & South America

Table 14-7 | Countries in Western Europe

Table 14-8 | Countries in Eastern Europe

Table 14-9 | Countries in the Asia/Pacific Region

Table 14-10 | Countries in the Africa/Mideast Region

Table 14-11 | Global Gross Domestic Product by Region & Country, 2010 - 2030 (billion 2019 dollars)

Table 14-12 | Global Population by Region & Country, 2010 - 2030 (million persons)

Table 14-13 | Global Manufacturing Value Added by Region & Country, 2010 - 2030 (billion 2019 dollars)

Table 14-14 | Global Motor Vehicle Production by Region, 2010 - 2030 (thousand units)

Table 14-15 | Global Motor Vehicles in Use by Region, 2010 - 2030 (million units)


List of Figures

1. Executive Summary

Figure 1-1 | Global Bearings Market

2. Impact of COVID-19 Pandemic

Figure 2-1 | Global Bearing Demand, 2010 - 2025 billion dollars)

3. Overview

Figure 3-1 | Global Bearing Demand, 2003 - 2020 (billion dollars)

Figure 3-2 | Global Bearing Demand by Region, 2010 - 2030 (billion dollars)

Figure 3-3 | Global Bearing Production by Region, 2010 - 2030 (billion dollars)

Figure 3-4 | Global Bearing Net Exports & Imports by Country, 2020 (million dollars)

5. Products

Figure 5-1 | Global Bearing Demand by Product, 2010 - 2030 (billion dollars)

Figure 5-2 | Ball Bearings: Product Examples

Figure 5-3 | Roller Bearings: Product Examples

Figure 5-4 | Global Roller Bearing Demand Share by Type, 2020 (billion dollars

Figure 5-5 | Plain Bearings: Product Examples

Figure 5-6 | Global Plain Bearing Demand Share by Product, 2020 (billion dollars)

Figure 5-7 | Mounted & Combination Bearings: Product Examples

Figure 5-8 | Bearing Parts: Product Examples

6. Markets

Figure 6-1 | Global Bearing Demand Share by Market, 2020 (billion dollars)

7. North America

Figure 7-1 | North America: Bearing Market Key Indicators, 2020

Figure 7-2 | North America: Bearing Demand, 2003 - 2020 (million dollars)

Figure 7-3 | North America: Bearings Market Share by Company, 2020 (billion dollars)

Figure 7-4 | United States: Bearing Market Key Indicators, 2020

Figure 7-5 | United States: Bearing Demand, 2003 - 2020 (million dollars)

Figure 7-6 | Mexico: Bearing Market Key Indicators, 2020

Figure 7-7 | Mexico: Bearing Demand, 2003 - 2020 (million dollars)

Figure 7-8 | Canada: Bearing Market Key Indicators, 2020

Figure 7-9 | Canada: Bearing Demand, 2003 - 2020 (million US dollars)

8. Central & South America

Figure 8-1 | Central & South America: Bearing Market Key Indicators, 2020

Figure 8-2 | Central & South America: Bearing Demand, 2003 - 2020 (million dollars)

Figure 8-3 | Central and South America: Bearings Market Share by Company, 2020 (billion dollars)

Figure 8-4 | Brazil: Bearing Market Key Indicators, 2020

Figure 8-5 | Brazil: Bearing Demand, 2003 - 2020 (million dollars)

Figure 8-6 | Other Central & South America: Bearing Market Key Indicators, 2020

Figure 8-7 | Other Central & South America: Bearing Demand, 2003 - 2020 (million dollars)

9. Western Europe

Figure 9-1 | Western Europe: Bearing Market Key Indicators, 2020

Figure 9-2 | Western Europe: Bearing Demand, 2003 - 2020 (million dollars)

Figure 9-3 | Western Europe: Bearings Market Share by Company, 2020 (billion dollars)

Figure 9-4 | Germany: Bearing Market Key Indicators, 2020

Figure 9-5 | Germany: Bearing Demand, 2003 - 2020 (million dollars)

Figure 9-6 | Italy: Bearing Market Key Indicators, 2020

Figure 9-7 | Italy: Bearing Demand, 2003 - 2020 (million dollars)

Figure 9-8 | France: Bearing Market Key Indicators, 2020

Figure 9-9 | France: Bearing Demand, 2003 - 2020 (million dollars)

Figure 9-10 | Spain: Bearing Market Key Indicators, 2020

Figure 9-11 | Spain: Bearing Demand, 2003 - 2020 (million dollars)

Figure 9-12 | United Kingdom: Bearing Market Key Indicators, 2020

Figure 9-13 | United Kingdom: Bearing Demand, 2003 - 2020 (million dollars)

Figure 9-14 | Other Western Europe: Bearing Market Key Indicators, 2020

Figure 9-15 | Other Western Europe: Bearing Demand, 2003 - 2020 (million dollars)

10. Eastern Europe

Figure 10-1 | Eastern Europe: Bearing Market Key Indicators, 2020

Figure 10-2 | Eastern Europe: Bearing Demand, 2003 - 2020 (million dollars)

Figure 10-3 | Eastern Europe: Bearings Market Share by Company, 2020 (billion dollars)

Figure 10-4 | Russia: Bearing Market Key Indicators, 2020

Figure 10-5 | Russia: Bearing Demand, 2003 - 2020 (million dollars)

Figure 10-6 | Other Eastern Europe: Bearing Market Key Indicators, 2020

Figure 10-7 | Other Eastern Europe: Bearing Demand, 2003 - 2020 (million dollars)

11. Asia/Pacific

Figure 11-1 | Asia/Pacific: Bearing Market Key Indicators, 2020

Figure 11-2 | Asia/Pacific: Bearing Demand, 2003 - 2020 (million dollars)

Figure 11-3 | Asia/Pacific: Bearings Market Share by Company, 2020 (billion dollars)

Figure 11-4 | China: Bearing Market Key Indicators, 2020

Figure 11-5 | China: Bearing Demand, 2003 - 2020 (million dollars)

Figure 11-6 | Japan: Bearing Market Key Indicators, 2020

Figure 11-7 | Japan: Bearing Demand, 2003 - 2020 (million dollars)

Figure 11-8 | South Korea: Bearing Market Key Indicators, 2020

Figure 11-9 | South Korea: Bearing Demand, 2003 - 2020 (million dollars)

Figure 11-10 | India: Bearing Market Key Indicators, 2020

Figure 11-11 | India: Bearing Demand, 2003 - 2020 (million dollars)

Figure 11-12 | Taiwan: Bearing Market Key Indicators, 2020

Figure 11-13 | Taiwan: Bearing Demand, 2003 - 2020 (million US dollars)

Figure 11-14 | Thailand: Bearing Market Key Indicators, 2020

Figure 11-15 | Thailand: Bearing Demand, 2003 - 2020 (million dollars)

Figure 11-16 | Other Asia/Pacific: Bearing Market Key Indicators, 2020

Figure 11-17 | Other Asia/Pacific: Bearing Demand, 2003 - 2020 (million dollars)

12. Africa/Mideast

Figure 12-1 | Africa/Mideast: Bearing Market Key Indicators, 2020

Figure 12-2 | Africa/Mideast: Bearing Demand, 2003 - 2020 (million dollars)

Figure 12-3 | Africa/Mideast: Bearings Market Share by Company, 2020 (billion dollars)

Figure 12-4 | Turkey: Bearing Market Key Indicators, 2020

Figure 12-5 | Turkey: Bearing Demand, 2003 - 2020 (million dollars)

Figure 12-6 | Other Africa/Mideast: Bearing Market Key Indicators, 2020

Figure 12-7 | Other Africa/Mideast: Bearing Demand, 2003 - 2020 (million dollars)

13. Industry Structure

Figure 13-1 | Global Bearings Market Share by Company, 2020 (billion dollars)

Figure 13-2 | Global Bearings Market, 2020: Leading Supplier

Figure 13-3 | Global Bearings Market, 2020: Second Leading Supplier

Figure 13-4 | Global Bearings Market, 2020: Third Leading Supplier

Figure 13-5 | Global Bearings Market, 2020: Fourth Leading Supplier

Figure 13-6 | Global Bearings Market, 2020: Fifth Leading Supplier

Figure 13-7 | Global Bearings Market, 2020: Sixth Leading Supplier

14. Appendix


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