Thrust Bearings Market Set to Reach $5.1 Billion by 2029 with 7.7% Yearly Growth

"What Is the Estimated Market Size and Growth Rate for the Thrust Bearings Market?
In recent times, there has been a substantial expansion in the size of the thrust bearings market. Its growth is projected to escalate from $3.51 billion in 2024 to $3.79 billion in 2025, displaying a compound annual growth rate (CAGR) of 7.9%. The growth during the historical period can be accredited to the rise in industrialization, an upsurge in automobile production, increasing use in aerospace applications, burgeoning usage of heavy machinery, and the simplified process of installing wind energy.

In the coming years, the thrust bearings market size is projected to experience robust growth, surging to $5.1 billion by 2029 with an impressive compound annual growth rate (CAGR) of 7.7%. The anticipated growth during the forecast period can be credited to factors such as growing demand for renewable energy, a surge in construction activities, increased oil and gas exploration, a broadening scope of e-mobility, as well as escalation in robotics and automation. The forecast period also presents key market trends like the need for environmentally friendly materials, emphasis on energy efficiency, the surge in electric vehicles, advancements in automation within manufacturing, along with the boost of offshore energy projects.

What Are the Forces Behind the Rapid Growth of the Thrust Bearings Market?
The increasing developments in the automotive sector are anticipated to spur the expansion of the thrust bearings market. The sector encompasses corporations involved in the design, creation, manufacture, and sale of motor vehicles. Factors such as customer demands, credit availability, the rise in electric vehicle adoption, and innovative solutions for transportation are contributing to the gaining momentum of the auto industry. Thrust bearings are instrumental in this industry, as they handle axial loads and decrease friction in crucial equipment like transmission and steering systems, enhancing the vehicle's durability and performance. For instance, a report published by Statistics Canada, a statistical organization in Canada, highlighted that the number of registered road motor vehicles in Canada reached 26.3 million in 2022, marking a 0.3% growth from 2021. As such, the thriving automotive industry is fueling the market for thrust bearings.

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Who Are the Dominant Companies Influencing Thrust Bearings Market Trends?
Major companies operating in the thrust bearings marker are JTEKT Corporation, SKF AB, NTN Corporation, The Timken Company, Nachi-Fujikoshi Corp., RBC Bearings Ltd., C&U Group, Waukesha Bearings Corp, American Roller Bearing Company, NSK Ltd., Kingsbury Inc., Bearings Plus Inc., Scheerer Bearing Corporation, SNL Bearings Ltd., ZKL Group, Boca Bearings Co. Ltd., Adarsh Bearings Pvt Ltd., Gem Bearings, Qibr Bearing Co. Ltd., Astro Bearings Corp

How Is the Thrust Bearings Market Evolving?
Leading firms in the thrust bearings market are concentrating on the production of mounted thrust bearings, to cater to the growing need for more robust and efficient parts in several industrial fields. Mounted thrust bearings, which are already assembled and installation-ready, provide benefits like decreased maintenance time, enhanced load-bearing capacity, and improved alignment. For example, Auburn Bearing & Manufacturing, an American company specializing in designing and manufacturing ball and roller thrust bearings, introduced an MT-114RG mounted thrust bearing in March 2024. This latest bearing solution expands the adaptability of the existing T-114RG thrust bearing series by allowing for simpler installation processes. The MT-114RG can be effortlessly screwed onto a shaft, making the installation process easier and guaranteeing secure positioning.

What Are the Different Segmentations in the Thrust Bearings Market?
The thrust bearingsmarket covered in this report is segmented -

1) By Type: Ball Thrust Bearing, Single Direction, Double Direction, Cylindrical Roller Bearing, Spherical Roller Thrust Bearings, Tapered Roller Thrust Bearing
2) By Material: Stainless Steel, Ceramic
3) By Distribution Channel: Online, Offline
4) By End-User: Automotive, Power And Energy, Aerospace, Industrial, Other End Users

Subsegments:
1) By Ball Thrust Bearing: Single Row Ball Thrust Bearing, Double Row Ball Thrust Bearing
2) By Single Direction: Flat Seat Single Direction Bearing, Convex Seat Single Direction Bearing
3) By Double Direction: Flat Seat Double Direction Bearing, Convex Seat Double Direction Bearing
4) By Cylindrical Roller Bearing: Single Row Cylindrical Roller Thrust Bearing, Multi Row Cylindrical Roller Thrust Bearing
5) By Spherical Roller Thrust Bearings: Solid Spherical Roller Thrust Bearings, Split Spherical Roller Thrust Bearings
6) By Tapered Roller Thrust Bearing: Single Row Tapered Roller Thrust Bearing, Double Row Tapered Roller Thrust Bearing

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Which Region Is at the Forefront of the Thrust Bearings Market?
North America was the largest region in the thrust bearings market in 2024. The regions covered in the thrust bearings marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Thrust Bearings Global Market Report?

- Market Size Analysis: Analyze the Thrust Bearings Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Thrust Bearings 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 Thrust Bearings Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Thrust Bearings Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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