Global Mounted Bearing Market Overview:
As per MRFR analysis, the Mounted Bearing Market Size was estimated at 19.04 (USD Billion) in 2022. The Mounted Bearing Market Industry is expected to grow from 20.09(USD Billion) in 2023 to 32.6 (USD Billion) by 2032. The Mounted Bearing Market CAGR (growth rate) is expected to be around 5.53% during the forecast period (2024 - 2032).
Key Mounted Bearing Market Trends Highlighted
The increased demand for fixed bearings in areas including cars, space and industrial machinery drives the Mounted Bearing Market. The rise of automation and advanced manufacturing is also helping to grow this market. Moreover, the increasing concern about energy efficiency and less downtime has raised the demand for mounted bearings with improved performance and longer life.
Opportunities for exploration and capture in the mounted bearing market include developing innovative designs and materials that will enhance endurance and reduce maintenance requirements. The growth of digitalization and IoT has opened up possibilities for smart mounted bearings which can monitor their performances as well as foresee their own maintenance needs. Furthermore, there are new opportunities for mounted bearings within wind turbines or other renewable energy applications.
Some recent trends have been witnessed in the mounted bearing markets, such as using lightweight materials and incorporating sensor technologies like sensors into them. The focus on sustainability has led to demand for mounting bearings made from environmentally friendly materials that are designed to consume less power. Another emerging trend is custom-built mounts specifically tailored to individual industries' particular conditions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mounted Bearing Market Drivers
Rising Demand for Automation and Robotics
The increasing adoption of automation and robotics across various industries, including manufacturing, automotive, and healthcare, is driving the demand for mounted bearings. These bearings are critical components in robotic systems, providing smooth and precise motion for actuators, motors, and other moving parts. The growing need for automation to improve productivity, reduce costs, and enhance safety is expected to continue fueling the growth of the Mounted Bearing Market Industry.
Expansion of Renewable Energy Sector
The growing emphasis on renewable energy sources, such as solar and wind power, is creating new opportunities for the Mounted Bearing Market Industry. Mounted bearings are essential components in wind turbines, solar tracking systems, and other renewable energy equipment. The expansion of the renewable energy sector is expected to drive the demand for mounted bearings, as they play a crucial role in ensuring the efficient and reliable operation of these systems.
Advancements in Aerospace and Defense Technologies
The aerospace and defense industries are witnessing significant advancements, which are driving the demand for high-performance mounted bearings. These bearings are used in aircraft engines, flight control systems, and other critical applications where precision, reliability, and durability are paramount. The growing investments in aerospace and defense programs are expected to boost the demand for mounted bearings in the coming years.
Mounted Bearing Market Segment Insights:
Mounted Bearing Market Bearing Type Insights
Ball bearings dominated the Mounted Bearing Market in 2023, accounting for over 40% of the market share. The dominance of ball bearings can be attributed to their high load-carrying capacity, durability, and low maintenance requirements. Roller bearings are expected to witness the highest growth rate during the forecast period, owing to their ability to handle heavier loads and operate at higher speeds. Linear bearings are witnessing increasing demand in automation applications, particularly in the automotive and electronics industries. Plain bearings offer low friction and are suitable for applications where lubrication is difficult or impossible.
The growth of the mounted bearing market is being driven by the increasing demand from end-use industries such as automotive, industrial machinery, and aerospace. The automotive industry is the largest consumer of mounted bearings, accounting for over 30% of the market share. The demand for mounted bearings in the automotive industry is expected to grow due to the increasing production of vehicles and the adoption of advanced technologies, such as electric vehicles and autonomous driving systems. The industrial machinery industry is another major consumer of mounted bearings, accounting for over 25% of the market share.The demand for mounted bearings in the industrial machinery industry is expected to grow due to the increasing automation of manufacturing processes and the growing demand for machinery in emerging economies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mounted Bearing Market Application Insights
The Mounted Bearing Market segmentation by Application is divided into Automotive, Industrial Machinery, Aerospace Defense, Medical Devices, Renewable Energy, and Other Applications. Among these segments, the Automotive segment is expected to hold the largest share of the market in 2023, with a projected valuation of 7.2 billion USD. This dominance is primarily driven by the increasing production of automobiles and the rising demand for mounted bearings in various automotive components such as engines, transmissions, and suspension systems.
The Industrial Machinery segment is anticipated to follow closely, with a significant market share due to the widespread use of mounted bearings in heavy machinery, construction equipment, and manufacturing processes. Aerospace Defense, Medical Devices, Renewable Energy, and Other Applications are also expected to contribute to the overall market growth, driven by factors such as technological advancements and increasing infrastructure investments.
Mounted Bearing Market Accuracy Grade Insights
The Accuracy Grade segment of the Mounted Bearing Market is anticipated to witness significant growth in the coming years. The market is segmented into ABEC-1, ABEC-3, ABEC-5, ABEC-7, ABEC-9, and Other Accuracy Grades. ABEC-1 bearings are the most basic grade and are used in applications where precision is not critical. ABEC-3 bearings are more precise than ABEC-1 bearings and are used in applications where moderate precision is required. ABEC-5 bearings are even more precise than ABEC-3 bearings and are used in applications where high precision is required.ABEC-7 bearings are the most precise grade of bearings and are used in applications where extreme precision is required. ABEC-9 bearings are a newer grade of bearings that are even more precise than ABEC-7 bearings.
They are used in applications where ultra-high precision is required. Other Accuracy Grades bearings are bearings that do not fit into any of the ABEC grades. They are typically used in applications where precision is not critical or where a specific accuracy grade is not required. The growth of the market is attributed to the increasing demand for mounted bearings in various industries, such as automotive, industrial machinery, and aerospace.
Mounted Bearing Market Size Range Insights
The Mounted Bearing Market is segmented into Small (Below 10mm), Medium (10mm to 50mm), Large (50mm to 100mm) and Extra Large (Over 100mm) based on Size Range. The Mounted Bearing Market for Small bearings below 10mm is projected to Register a CAGR of 5.2% from 2023 to reach a market size of USD 6.5 billion by 2032, owing to the increasing demand from various industries such as automotive, electronics, and consumer goods. The Medium Size Range segment, with sizes ranging from 10mm to 50mm, held the largest share of the Mounted Bearing Market in 2023, and it is projected to reach USD 12.5 billion by 2032, exhibiting a CAGR of 5.7% during the forecast period.This growth can be attributed to the rising demand for medium-sized mounted bearings in industrial machinery and equipment, where reliability and precision are critical.
The Large Size Range, with a size ranging from 50mm to 100mm, is expected to witness a steady growth rate of 5.3% during the forecast period, reaching a market value of USD 8.9 billion by 2032. This segment caters to heavy-duty machinery and equipment used in mining, construction, and manufacturing industries. The Extra Large Size Range of over 100mm is projected to Register a CAGR of 5.1% from 2023 to reach a market size of USD 4.6 billion by 2032.This segment finds applications in large-scale industrial equipment, wind turbines, and other specialized machinery.
Mounted Bearing Market Material Insights
The Mounted Bearing Market is segmented based on material into Steel, Ceramic, Bronze, Plastics, and Other Materials. Steel holds the largest market share due to its high strength, durability, and cost-effectiveness. Ceramic bearings are gaining popularity in high-speed and high-temperature applications due to their excellent wear resistance and low coefficient of friction. Bronze bearings offer good corrosion resistance and are often used in marine and food processing applications. Plastic bearings are lightweight, corrosion-resistant, and self-lubricating, making them suitable for low-load and low-speed applications.Other materials, such as composites and stainless steel, are also used in specific applications. The Mounted Bearing Market size was valued at USD 20.09 billion in 2023 and is projected to reach USD 32.6 billion by 2032, growing at a CAGR of 5.53% from 2024 to 2032.
Mounted Bearing Market Regional Insights
The regional segmentation of the Mounted Bearing Market plays a crucial role in understanding the market dynamics and growth potential. North America holds a significant market share due to the presence of major manufacturing hubs and advanced infrastructure. In 2023, the Mounted Bearing Market revenue in North America was estimated at USD 7.2 billion. The region is expected to maintain its dominance throughout the forecast period, with a projected market value of USD 11.5 billion by 2032.
Europe is another key region driven by the automotive and industrial sectors.In 2023, the market size in Europe stood at USD 6.1 billion, and it is expected to reach USD 9.8 billion by 2032. APAC is the fastest-growing region, owing to the rapid industrialization and urbanization in countries like China and India. The market in APAC was valued at USD 5.3 billion in 2023 and is projected to grow to USD 8.6 billion by 2032. South America and MEA are emerging markets with significant growth potential. In 2023, the market size in South America was estimated at USD 1.2 billion, and it is expected to reach USD 1.9 billion by 2032.The MEA market was valued at USD 0.9 billion in 2023 and is projected to grow to USD 1.4 billion by 2032.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mounted Bearing Market Key Players And Competitive Insights:
Major players in the Mounted Bearing Market industry are constantly striving to gain a competitive edge by introducing innovative products and expanding their geographical reach. Leading Mounted Bearing Market players are focusing on strategic collaborations and partnerships to strengthen their market position. The Mounted Bearing Market development is driven by the growing demand from various end-use industries, such as automotive, industrial machinery, and construction. The competitive landscape of the Mounted Bearing Market is characterized by the presence of both global and regional players.
Global players are expanding their production capacities and investing in research and development to meet the growing demand for high-quality mounted bearings. Regional players are focusing on catering to specific regional needs and developing niche products. The Mounted Bearing Market Competitive Landscape is expected to remain highly competitive in the coming years, with players vying for market share through product innovation, strategic partnerships, and aggressive marketing strategies.Timken is a leading global provider of engineered bearings and power transmission products. The company offers a wide range of mounted bearings, including ball bearings, roller bearings, and needle bearings. Timken's mounted bearings are used in various applications, including industrial machinery, automotive, and aerospace.
The company has a strong global presence with manufacturing facilities in North America, Europe, and Asia. Timken is committed to providing high-quality products and services to its customers and is continuously investing in research and development to improve its products and processes.NSK is another major player in the Mounted Bearing Market industry. The company offers a comprehensive range of mounted bearings, including ball bearings, roller bearings, and linear bearings. NSK's mounted bearings are used in various industries, including automotive, industrial machinery, and construction. The company has a global presence with manufacturing facilities in Japan, China, Europe, and North America. NSK is focused on providing innovative products and solutions to its customers and is committed to continuous improvement. The company invests heavily in research and development and has a strong track record of developing new products and technologies.
Key Companies in the Mounted Bearing Market Include:
Mounted Bearing Market Industry Developments
Recent developments in the Mounted Bearing Market include the increasing adoption of Industry 4.0 technologies, such as the Industrial Internet of Things (IIoT) and predictive maintenance. These technologies allow manufacturers to monitor and analyze the performance of mounted bearings in real time, enabling them to identify potential problems and take corrective action before they lead to downtime. In addition, the growing demand for automation in various industries, such as automotive, aerospace, and manufacturing, is driving the growth of the mounted bearing market.
The Asia-Pacific region is expected to be the fastest-growing market for mounted bearings over the next five years due to the increasing industrialization and urbanization in the region. China is expected to be the largest market for mounted bearings in Asia-Pacific, followed by India and Japan. The North American and European markets are also expected to experience steady growth over the next five years, driven by the increasing demand for automation and the replacement of aging infrastructure.
Mounted Bearing Market Segmentation Insights
Mounted Bearing Market Bearing Type Outlook
- Ball Bearings
- Roller Bearings
- Linear Bearings
- Plain Bearings
- Other Bearing Types
Mounted Bearing Market Application Outlook
- Automotive
- Industrial Machinery
- Aerospace Defense
- Medical Devices
- Renewable Energy
- Other Applications
Mounted Bearing Market Accuracy Grade Outlook
- ABEC-1
- ABEC-3
- ABEC-5
- ABEC-7
- ABEC-9
- Other Accuracy Grades
Mounted Bearing Market Size Range Outlook
- Small (Below 10mm)
- Medium (10mm to 50mm)
- Large (50mm to 100mm)
- Extra Large (Over 100mm)
Mounted Bearing Market Material Outlook
- Steel
- Ceramic
- Bronze
- Plastics
- Other Materials
Mounted Bearing Market Regional Outlook
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North America
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Europe
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South America
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Asia-Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
19.04(USD Billion) |
| Market Size 2023 |
20.09(USD Billion) |
| Market Size 2032 |
32.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.53% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
KOYO ,Schaeffler ,Nachi ,THK ,JTEKT ,MinebeaMitsumi ,SKF ,IKO ,Harmonic Drive Systems ,THB ,NSK ,NTN SNR ,Timken ,FAG ,Tsubaki |
| Segments Covered |
Bearing Type, Application, Accuracy Grade, Size Range, Material, Regional |
| Key Market Opportunities |
Growing demand for industrial automation Expansion in automotive and aerospace sectors Rise in the use of mounted bearings in renewable energy. Increasing focus on energy efficiency Growing adoption in the food and beverage industry |
| Key Market Dynamics |
Rising demand from the automotive industry Technological advancements Increasing automation in manufacturing Growing demand in developing economies Focus on cost reduction and efficiency. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Mounted Bearing Market is projected to reach a valuation of 20.09 billion USD in 2023. By 2032, it is estimated to grow to 32.6 billion USD, exhibiting a CAGR of 5.53% during the forecast period from 2024 to 2032.
The Asia-Pacific region is anticipated to dominate the Mounted Bearing Market throughout the forecast period. Rapid industrialization and urbanization, coupled with the presence of numerous manufacturing hubs in countries like China, India, and Japan, are key factors driving the growth in this region.
Mounted Bearings are widely used in various industrial applications, including automotive, construction, mining, agriculture, and manufacturing. They are also commonly employed in material handling equipment, packaging machinery, and conveyor systems.
The automotive, industrial machinery, and renewable energy sectors are expected to drive demand for Mounted Bearings. The increasing adoption of electric vehicles, automation in manufacturing processes, and the growing focus on sustainable energy generation are contributing to the rising demand for these bearings.
Some notable players in the Mounted Bearing Market include Schaeffler Group, SKF, NSK Ltd., Timken Company, and NTN Corporation. These companies offer a wide range of Mounted Bearings catering to diverse industry requirements.
The Mounted Bearing Market is projected to witness steady growth over the coming years. Factors such as technological advancements, rising demand from emerging economies, and increased adoption of automation and robotics are expected to drive market growth.
The Mounted Bearing Market faces challenges such as intense competition, fluctuating raw material prices, and the impact of global economic conditions. Additionally, technological disruptions and the emergence of alternative bearing solutions may pose challenges to market growth.
Key players in the Mounted Bearing Market are focusing on product innovation, strategic partnerships, and expanding their global footprint to gain a competitive edge. They are also investing in research and development to enhance product performance and efficiency.
Digitalization, Industry 4.0 integration, and the growing adoption of predictive maintenance solutions are key trends shaping the Mounted Bearing Market. These trends are driving demand for smart and connected bearings that offer real-time monitoring and predictive analytics capabilities.
The COVID-19 pandemic had a significant impact on the Mounted Bearing Market, leading to disruptions in supply chains and a decline in demand from various industries. However, the market is expected to recover and regain momentum as economic activities resume and industrial sectors regain stability.
