Global Plain Bearing Market Top Manufacturers, End Users, Size, Share, Growth Rate to Reach USD 13.0 billion by 2026

The global plain bearing market size is estimated at USD 10.0 billion in 2021 and is projected to reach USD 13.0 billion by 2026, at a CAGR of 5.2% between 2021 and 2026. The market is propelled by the growth of various end-use industries. Increasing investments in infrastructure, new industrial projects, and the development of heavy machinery in China, India, the US, Germany, and Brazil have also boosted market growth.

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"Journal as type is anticipated to grow at the highest CAGR during the forecast period"
The journal type segment contributed the largest share to the global plain bearing market in 2020; this segment is projected to grow at the highest CAGR from 2021 to 2026. This growth is mainly attributed to the increasing demand for journal bearings from varied end-use industries such as automobile, aerospace, construction machinery, and energy. In addition, journal bearings have properties such as excellent strength and shock resistance. There is no rolling element in these bearings. These bearings work efficiently in heavily loaded systems, wherein sufficient clearance and lubrication is provided.

"Industrial as a end use industry of plain bearings is projected to grow at the highest CAGR during the forecast period"
The Industrial industry as an end-use industry is projected to grow at the highest CAGR during the forecast period, due to rapid industrialization in emerging economies India and China in the Asia Pacific region. Plain bearings are used industrial industry in cleaning equipment, chlorine systems, film processing systems, fuel handling systems, oxygen systems, and chemical processing equipment.

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"Asia-Pacific is projected to grow at the highest CAGR during the forecast period"
Increasing demand for plain bearings from the rapidly growing end-use industries such as automotive, aerospace, construction machinery, and energy in the Asia Pacific region is one of the major factors responsible for the highest share and CAGR of this region. The plain bearing market in Asia-Pacific is driven by the increased foreign investments, and low labor costs. The end-use industries of plain bearings, such as automotive, construction machinery, and energy, are growing in emerging countries such as China, India and Thailand, which play an important role in driving the market.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 - 40%, Tier 2 - 20%, and Tier 3 - 40%
• By Designation: C-level Executives - 10%, Directors - 70%, and Others - 20%
• By Region: Asia Pacific - 25%, Europe - 45%, North America - 20%, the Middle East & Africa- 5%, and South America - 5%

Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as NTN Corporation (Japan), SKF Group (Sweden), Schaeffler Group (Germany), Timken Company (US), THK Co., Ltd. (Japan), NSK Ltd. (Japan), MinebeaMitsumi Inc. (Japan), RBC Bearings Incorporated (US), and SGL Carbon (Germany), ElringKlinger AG (Germany), GGB (France), igus (Germany), Kashima Bearings, Inc (Japan), Boston Gear LLC (US), Thomson Industries, Inc. (US), ZOLLERN GmbH & Co. KG (Germany), PBC Linear (US), GGT Gleitlager AG (Switzerland), Midwest Control Products Corp. (US), Accurate Bushing Company (US), AEC (India), Chiavette Unificate S.p.A. (Italy), HepcoMotion (UK), Alloy Bearings (New Zealand), and Kingsbury, Inc. (US).

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Research Coverage:
This report offers an overview of market trends, drivers, and challenges with respect to the plain bearing market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America. The report categorizes the plain bearings market on the basis of type, end-use industry and region. A detailed analysis of leading players, along with key growth strategies adopted by them, are also covered in the report.

Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall plain bearing market and the sub segments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

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This release was published on openPR.