Driving Bearing Steel Market Growth in 2025: The Role of Rising Automotive Industry Fuels Growth In The Bearing Steel Market

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Bearing Steel Market Size Growth Forecast: What to Expect by 2025?
The growth in the bearing steel market has been rather subtle over the past few years. Anticipated to rise from $6.71 billion in 2024 to $6.84 billion in 2025, this market will see a 1.9% compound annual growth rate (CAGR). Factors such as industrial sector expansion, a surge in the demand for electric vehicles, increasing necessity in construction and mining activities, infrastructure advancement, and a spike in automation have contributed to its growth in the historic period.

How Will the Bearing Steel Market Size Evolve and Grow by 2029?
The market for bearing steel is forecasted to experience consistent expansion over the coming years, reaching a value of $7.94 billion in 2029 with a 3.8% Compound Annual Growth Rate (CAGR). This projected growth during the forecast period is primarily due to increasing demand from the aerospace sector, enhanced demand from the automobile industry, more investment in research and development, a rise in the demand for high-quality goods, and the growing need for stainless steel. Key trends expected during this forecast period encompass advancements in metallurgy, supply chain digitalization developments, ceramic bearings, miniaturization, and the introduction of sustainable steel materials.

View the full report here:
https://www.thebusinessresearchcompany.com/report/bearing-steel-global-market-report

What Drivers Are Propelling the Growth of Bearing Steel Market Forward?
The expansion of the automobile industry is anticipated to fuel the advancement of the bearing steel market. The automotive sector encompasses a range of companies and institutions concerned with car design, development, manufacturing, marketing, and sales. Bearing steel, which is light, durable, and strong, is vital for reducing the weight of vehicles. It plays a critical role in the automotive sector, providing benefits such as decreased friction, resistance to corrosion, and longevity. For example, a report from the France-based trade group, the International Organization of Motor Vehicle Manufacturers, noted that global passenger vehicle sales rose from 56.43 million in 2021 to 57.48 million in 2022. Consequently, the flourishing automobile industry is propelling the bearing steel market's expansion.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12882&type=smp

What Trends Will Shape the Bearing Steel Market Through 2029 and Beyond?
In an effort to maintain their market position, leading businesses in the bearing steel sector are concentrating on product innovation, introducing items like spindle bearings. These are specially constructed to support and guide machinery spindle rotation, offering high precision, rigidity, and load-bearing capability for operations including turning, milling, and grinding. An example is Schaeffler, a German firm known for their revolutionary bearing technology, who launched super precision cylindrical roller bearings in September 2023. The bearings, which offer improved performance in high-load applications such as main spindles in machinery, boast a PEEK-made advanced cage structure for reduced friction and wear. This results in better lubrication and lower operating temperatures. The innovative design enables more effective oil distribution, enhancing the reliability of non-locating bearing functions at high speeds. Furthermore, Schaeffler's hybrid versions with ceramic rollers minimize friction further and prolong the life of spindles and machinery. This makes them adaptable for a wider array of precision engineering applications.

What Are the Key Segments in the Bearing Steel Market?
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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=12882&type=smp

Who Are the Key Players Shaping the Bearing Steel Market's Competitive Landscape?
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.

What Geographic Markets Are Powering Growth 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.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12882

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.

Follow 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

Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.