According to a market report by Lucintel, the future of the global industrial bearings market looks promising with opportunities in the mining and metal works, material handling, construction, energy, aerospace, automotive, and food and beverage markets. The global industrial bearings market is expected to reach an estimated $137.5 billion by 2030 with a CAGR of 4.5% from 2024 to 2030. The major drivers for this market are growing demand for bearings from the automotive industry, emergence of smart technologies embedded in bearings, and increasing adoption of high-performance bearings for advanced sensor units across the globe.

In this market, ball bearings and roller bearings are the major segments of industrial bearings market by product type.

Lucintel forecasts that roller bearing is expected to witness highest growth over the forecast period.

Within this market, automotive will remain the largest segment due to growing automotive production and on-going technological advancement in vehicles.

APAC is expected to witness highest growth over the forecast period due to rapid industralization and significantly growing motor vehicle production in China.

NSK Ltd, NTN Corporation, Rexnord Corporation, The Timken Company, SKF, and JTEKT Corporation are the major suppliers in the industrial bearings market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com