Press release
Bearing Steel Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Bearing Steel Market
The bearing steel market has seen steady growth, expected to expand from $6.71 billion in 2024 to $6.96 billion in 2025, at a CAGR of 3.8%. Growth factors include industrial sector expansion, rising demand for electric vehicles (EVs), increased usage in mining and construction, infrastructure development, and growing automation trends.
The bearing steel market is expected to see steady growth, reaching $8.15 billion by 2029 with a CAGR of 4.0%. Growth is attributed to increasing demand from the aerospace and automotive industries, rising investments in R&D, and the need for high-quality products. Key trends include advanced metallurgy, digitalization of supply chains, development of ceramic bearings, miniaturization, and the launch of sustainable steel materials.
What Key Elements Are Boosting Growth in the Bearing Steel Market?
The growing automotive industry is expected to significantly propel the growth of the bearing steel market. Bearing steel is an essential material used in the automotive sector due to its strength, lightweight nature, and durability. It is used to reduce friction, enhance performance, and increase the lifespan of automotive components. The rise in vehicle sales, as reported by the International Organization of Motor Vehicle Manufacturers, with global passenger vehicle sales reaching 57.48 million in 2022, further underscores the growing demand for bearing steel in the automotive industry.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12882&type=smp
Who Are the Major Industry Players Fueling Bearing Steel Market Expansion?
Major companies operating in the bearing steel market are China Baowu Steel Group Corp. Ltd., Nippon Steel Corporation, Shanghai Xincheng Precision Machinery Co. Ltd., Tata Steel Limited, HBIS Group Co. Ltd., Schaeffler Technologies AG & Co. KG, Kobe Steel Ltd., JTEKT Corporation, MinebeaMitsumi Inc., Nanjing Iron and Steel Co. Ltd., AB SKF, NSK Ltd., NTN Corporation, The Timken Company, Saarstahl AG, Daido Steel Co. Ltd., Wafangdian Guangyang Bearing Group Co. Ltd., Nachi-Fujikoshi Corp., Fushun Special Steel Co. Ltd., National Engineering Industries Ltd., Jiangsu Suzhou Steel Group Co. Ltd., Fujian Longxi Bearing(Group) Corp. Ltd., EZM Edelstahlzieherei Mark GmbH, Luoyang LYC Bearing Co. Ltd., Dongil Industries Co. Ltd., HKT Bearings Limited, RKB Europe SA, Del-Tron Precision Inc., THB Bearings Co. Ltd., Harbin Bearing Manufacturing Co. Ltd.
Which Key Developments Are Influencing the Bearing Steel Market?
Leading firms in the bearing steel market are innovating products, like spindle bearings, to stay competitive. Spindle bearings are designed to support spindle rotation in machinery, providing high precision and load capacity for processes such as milling and grinding. For instance, in September 2023, Schaeffler, a Germany-based bearing technology company, launched its super precision cylindrical roller bearings for high-load applications like machinery spindles. These bearings feature an advanced PEEK cage construction to minimize friction, improving lubrication and reducing operating temperatures. Schaeffler's hybrid versions include ceramic rollers to extend spindle life and improve performance, suitable for precision engineering.
How Is the Segmentation of the Bearing Steel Market Defined?
The bearing steel market covered in this report is segmented -
1) By Product Type: High Carbon Chromium, Carburizing, High Temperature, Other Products
2) By Application: Ball Bearings, Roller Bearings, Thrust Bearings, Plain Bearings, Other Applications
3) By End Use: Automotive, Aerospace, Machinery And Equipment, Energy, Construction, Other End Uses
Subsegments:
1) By High Carbon Chromium: 100Cr6 (AISI 52100), 440C Stainless Steel
2) By Carburizing: 8620 Steel, 9310 Steel
3) By High Temperature: M50 Steel, M42 Steel
4) By Other Products: Stainless Steel Bearings, Alloy Steel Bearings, Ceramic Bearings
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/bearing-steel-global-market-report
What Is the Leading Region in the Bearing Steel Market?
Asia-Pacific was the largest region in the bearing steel market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in bearing steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Bearing Steel Global Market Report?
- Market Size Analysis: Analyze the Bearing Steel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bearing Steel Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bearing Steel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bearing Steel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12882
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Bearing Steel Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers here
News-ID: 3849036 • Views: …
More Releases from The Business Research Company
Foam Tape Industry to Achieve $14.62 Billion Growth by 2029
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
How Will the Foam Tape Market Grow by 2025 in Terms of Size and Growth?
In recent times, there has been significant growth in the market size for foam tape. It is projected to escalate from $10.02 billion in 2024 to $10.77 billion in 2025, demonstrating a compound annual growth rate (CAGR)…
Continuous Positive Airway Pressure (CPAP) Mask Market Expansion Outlook: $3.85 …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Projected CAGR for the Continuous Positive Airway Pressure (CPAP) Mask Market from 2024 to 2025?
In recent times, the market size of the continuous positive airway pressure (cpap) mask has seen robust growth. The market is projected to rise from $2.83 billion in 2024 to $3 billion in 2025,…
Alkyd Coating Market to Record 7.5% CAGR Growth Through 2029 | Global Analysis R …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Alkyd Coating Market Outlook: How is the Market Expected to Grow by 2025?
The market size of alkyd coatings has experienced significant growth in the past few years. The market is projected to expand from $25.13 billion in 2024 to $26.74 billion in 2025, exhibiting a compound annual growth rate…
Water Free Skincare Market Analysis: $22.5 Billion by 2029 With a CAGR of 7%
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
Water Free Skincare Market Value Projection: How Much Will the Market Size by 2025?
The market size of waterless skincare has experienced a robust increase in recent years. The expected growth is from $15.96 billion in 2024 to $17.15 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%.…
More Releases for Steel
Steel Beams Market is Booming Worldwide with Steel Dynamics, JSW Steel, JFE Stee …
HTF MI just released the Global Steel Beams Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.
Major Giants in Steel Beams Market are:
ArcelorMittal (Luxembourg), Nippon Steel (Japan),…
Special Ball Bearing Steel Market : Eminent Players - Nippon Steel, Suzhou Steel …
Market Description -
Los Angeles, (United States) - The information made available in the Special Ball Bearing Steel report will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. This will at last increase the return rate and drive the competitive edge within. Being a custom market report, it provides services tailored to the exact challenge. Whether it is survey work,…
Miscellaneous Steel Detailing | Steel Detailer | Steel Detailing Services
We provide the highest quality of finished projects in the industry. Boasting unmatched turnaround times, and superb accuracy. WorldSteel Detailings has onboard team of experienced steel detailers and engineers with a wide range of experience from industrial and commercial projects to high rise buildings. By using innovative technologies and latest softwares, our structural steel detailing team provides accurate services as per your requirements based on country standards.Our steel detailing professionals…
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in…
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in…
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in…
