Plain Bearing Market | Key players operating in the market include NTN Corp, SKF Group, Schaeffler Group, Timken Company, THK Co. Ltd

According to recent market research "Plain Bearing Market by Type, End-Use Industry (Automotive, Industrial, Aerospace, Energy, Construction Machinery, Agricultural & Gardening Equipment, Oilfield Machinery, Office Products) and Region - Global Forecast to 2026", The plain bearing market 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. There is increase in demand for plain bearings from the automobile, aerospace, construction machinery, and energy industries as plain bearings are light in weight, require less maintenance, have high load carrying capacity, high reliability and longer life, these all factors attribute for the growth of the global plain bearing market in the near future.

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Journal is the fastest-growing type segment of the global plain bearing market

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 Industry is the fastest-growing end-use industry segment of the global plain bearing market

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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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.

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) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.

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The key players operational in the plain bearing market are focusing on new product launches, , expansions and acquisitions to cater to the increasing demands across various industries. These companies are also investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the plain bearing market.

SKF Group, in March 2021, invested USD 44.3 million in expanding and modernizing its manufacturing facility in Airasca, Italy. The investment is expected to bring the manufacture of super-precision bearings for industrial applications to the Groups largest manufacturing site in Italy.

Timken Company, in December 2020, acquired the assets of Aurora Bearing Company. Aurora Bearing Company manufactures rod ends and spherical plain bearings which serve a diverse range of industrial sectors including aerospace and defense, racing, off-highway equipment, and packaging.

NTN Corporation, in August 2020, started its first overseas mass-production of precision bearings for machine tools at NTN Mettmann (Deutschland) GmbH, a subsidiary of the manufacturing company, NTN Kugellagerfabrik (Deutschland) GmbH in Germany.

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