Press release
Global Spherical Roller Bearings Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Spherical Roller Bearings Market Size
What Is the Spherical Roller Bearings Market Size and Projected Growth Rate?
The spherical roller bearings market size will grow from $5.32 billion in 2024 to $5.57 billion in 2025 at a compound annual growth rate (CAGR) of 4.7%. This growth is attributed to industrial sector demand, demand for zero friction bearings, renewable energy applications, renewable energy demand, and the flourishing automotive industry.
The spherical roller bearings market is expected to grow to $6.63 billion by 2029, at a CAGR of 4.4%. Growth is driven by demand for bearings in wind turbines, electric vehicles, machinery, construction, automotive, and industrial equipment. Trends include advanced bearings for uptime, technological innovations, new product development, and advanced solutions.
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What Are the Major Segments in the Spherical Roller Bearings Market?
The spherical roller bearingsmarket covered in this report is segmented -
1) By Type: Sheet Steel, Polyamide, Brass, Steel
2) By Distribution Channel: Direct, Indirect
3) By Application: Automotive, Wind Turbines, Material Handling Equipment, Mechanical Fans And Blowers, Mining And Construction Equipment, Pulp And Paper Processing Equipment, Marine Propulsion And Offshore Drilling
Subsegments:
1) By Sheet Steel: Single-Row Sheet Steel Bearings, Double-Row Sheet Steel Bearings
2) By Polyamide: Single-Row Polyamide Bearings, Double-Row Polyamide Bearings
3) By Brass: Single-Row Brass Bearings, Double-Row Brass Bearings
4) By Steel: Single-Row Steel Bearings, Double-Row Steel Bearings
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What Are The Driving Spherical Roller Bearings Market Evolution?
The increasing demand for electric commercial vehicles is expected to drive the growth of the spherical roller bearings market. Electric commercial vehicles, including trucks and buses, are gaining popularity due to environmental regulations and sustainability goals. Spherical roller bearings are used in these vehicles to improve efficiency and reliability. For instance, in January 2024, the U.S. Energy Information Administration reported a rise in hybrid and electric vehicle sales, indicating the growth of electric commercial vehicles. This trend is driving the spherical roller bearings market.
Which Firms Dominate The Spherical Roller Bearings Market Segments?
Major companies operating in the spherical roller bearings market are Schaeffler Technologies AG & Co. KG , JTEKT Corporation, AB SKF, MinebeaMitsumi Inc., NSK Ltd., NTN Corporation, The Timken Company, Nachi-Fujikoshi Corp., RBC Bearings Incorporated, C&U Group, National Engineering Industries Ltd., Wafangdian Bearing Group Corporation, NRB Bearings Ltd., Fersa Bearings S.A.U., Mineral circles bearings, BTL-UK Ltd., ABTech Inc., MARC Bearings Pvt Ltd., Rudra Bearings Pvt. Ltd., ZKL Group, KG Bearing India LLP, Shanghai Xin Equation Bearing Co. Ltd., KEC Bearings Pvt Ltd., Boca Bearings Co.
What Are the Latest Developing Trends in the Spherical Roller Bearings Market?
Major companies in the spherical roller bearings market are innovating with sustainable components like food-grade grease and seals to meet hygiene and safety standards in food processing environments. For example, in November 2023, AB SKF (Sweden) launched spherical roller bearings with food safety features, designed for the food and beverage industry. These bearings use NSF Category H1 grease and a nitrile butadiene rubber contact seal that is both FDA- and EC-approved, ensuring protection from contaminants.
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Which Is The Largest Region In The Spherical Roller Bearings Market?
Asia-Pacific was the largest region in the spherical roller bearings market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the spherical roller bearings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Spherical Roller Bearings Market?
2. What is the CAGR expected in the Spherical Roller Bearings Market?
3. What Are the Key Innovations Transforming the Spherical Roller Bearings Industry?
4. Which Region Is Leading the Spherical Roller Bearings Market?
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