The global sliding bearing market size reached USD 952.8 million in 2022. Revenue generated by sliding bearings sales is likely to be USD 1051.9 million in 2023. Sales are poised to soar by 8.7% CAGR over the forecast period between 2023 and 2033. Demand is anticipated to transcend at USD 2420.0 million by 2033 end.
Sliding bearings are being used in various industries to enhance energy efficiency. This is in line with global efforts to reduce energy consumption and emissions. Reduced Friction: Sliding bearings are used in multiple industrial applications to reduce friction and improve energy efficiency. Low friction means less energy is wasted in overcoming resistance, saving energy.
Well-lubricated sliding bearings help maintain the efficient operation of machinery, reducing the need for frequent maintenance and downtime. This indirectly contributes to energy efficiency by ensuring continuous operation. As industries increasingly adopt automation and robotics to improve efficiency, the demand for high-precision sliding bearings in these machines expands.
The growth of renewable energy sources, including wind turbines and solar panels, requires reliable and efficient bearing solutions for the rotating components. This enhances the overall energy efficiency of renewable energy systems. Sliding bearings are crucial in vehicles as the automotive industry continues to focus on fuel efficiency and electric cars. It is likely to drive demand for advanced bearings that reduce energy losses to rise.
Attributes | Key Insights |
---|---|
Sliding Bearing Market Estimated Size (2023E) | USD 1051.9 million |
Sliding Bearing Market Projected Valuation (2033F) | USD 2420.0 million |
Value-based CAGR (2023 to 2033) | 8.7% |
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The global sliding bearing market experienced growth at 10.7% CAGR during the historical period from 2018 to 2022. Sales are estimated to propel at 8.7% CAGR through 2033. It created a revenue of USD 952.8 million in the base year 2022.
Historical CAGR of Sliding Bearing Market (2018 to 2022) | 10.7% |
---|---|
Historical Value of Sliding Bearing Market (2022) | USD 952.8 million |
The global sliding bearing market has been experiencing growth due to the emergence of advanced materials. Advanced materials, such as self-lubricating composites and high-performance polymers, can enhance the performance of sliding bearings by reducing friction. It helps in improving wear resistance and extending bearing life. This will likely increase demand from industries where high-performance bearings are crucial, like aerospace and automotive.
Advanced materials can help reduce energy consumption in machinery and equipment by reducing friction and heat generation. As industries focus on energy efficiency to meet environmental regulations, the demand for sliding bearings with advanced materials may increase.
Sliding bearings made from advanced materials often have greater durability and resistance to harsh environments. This makes them preferable for applications in industries such as mining, construction, and offshore drilling. Bearings with advanced materials require less maintenance and lubrication. This saves costs for industries where downtime and maintenance are expensive, such as manufacturing and heavy machinery.
Advanced materials allow for the customization of sliding bearings to meet specific industry requirements. This flexibility can attract demand from industries with unique needs, such as marine, where corrosion-resistant bearings are essential. Compliance with environmental regulations is a growing concern in many industries. Advanced eco-friendly materials can drive demand in markets where sustainability is a priority.
Growing Industrial Automation:
The rise of Industry 4.0 and increased automation in manufacturing and processing industries has driven the demand for precision sliding bearings. They are preferred for use in robotic systems and automated machinery.
Sustainability and Environmental Regulations:
Environmental regulations and sustainability concerns have led to the development of eco-friendly bearing materials and lubricants to reduce ecological impact.
Emergence of Advanced Materials:
Continuous research and development have led to the introduction of advanced materials. These include self-lubricating composites and ceramic sliding bearings, which offer improved performance and durability.
Customization and 3D Printing:
Customized sliding bearings are gaining popularity, and 3D printing is used to produce complex bearing designs for specific applications.
Digitalization and Predictive Maintenance:
Integration of sensors and IoT technology enables predictive sliding bearings maintenance, reducing downtime and maintenance costs.
Focus on Reliability and Longevity:
Industries such as aerospace and heavy machinery continue to prioritize the reliability and longevity of sliding bearings to minimize downtime and maintenance expenses.
E-commerce and Online Procurement:
The shift towards digital procurement channels has impacted how customers source sliding bearings, with an increasing reliance on e-commerce platforms.
Limited Load Capacity:
Sliding bearings have lower load-carrying capacities than rolling bearings, making them less suitable for heavy-duty applications.
Friction and Heat:
Sliding bearings generate more friction and heat during operation, increasing wear and reducing efficiency.
Maintenance Intensive:
Sliding bearings require regular lubrication and maintenance to prevent wear and ensure proper functioning, which can add to operational costs.
Limited Speeds:
They are unsuitable for high-speed applications, as excessive friction can cause overheating and premature wear.
Noise and Vibration:
Sliding bearings produce more noise and vibration than rolling bearings, which can be a drawback in sensitive applications.
Space Requirements:
Sliding bearings often require more space due to their larger dimensions, making them less suitable for compact designs.
Environmental Concerns:
Lubricants used in sliding bearings can pose environmental challenges if not managed properly.
The table provides information on the top 5 global sliding bearing market countries. Based on the information below, the United States and China will likely lead the global sliding-bearing market. The United States is expected to be worth USD 440.3 million by 2033, followed by China, which will probably be valued at USD 376.8 million by 2033.
Countries | Projected Value (2033) |
---|---|
United States | USD 440.3 million |
United Kingdom | USD 101.1 million |
China | USD 376.8 million |
Japan | USD 263.8 million |
South Korea | USD 133.1 million |
The United States is projected to soar at 8.9% CAGR from 2023 to 2033. The United States sliding bearing market is expected to reach USD 440.3 million by 2033. The sliding bearing market in the United States is substantial, with a market size in the millions of dollars annually.
Prominent United States sliding bearing market companies include SKF Group, Timken Company, Schaeffler Group, and NSK Ltd. The market is experiencing advancements in materials and lubrication technologies to improve bearing performance and durability.
A key factor driving demand for sliding bearings in the United States is its need in industrial automation tools, the automotive sector, and infrastructure development. Compliance with environmental regulations will also lead to the development of eco-friendly bearing solutions.
Investment in research and development is crucial for developing advanced bearing solutions that meet evolving industry requirements. Current trends in the United States sliding bearing market include adopting smart bearings with sensors for condition monitoring and predictive maintenance.
The United Kingdom is set to expand at 9.5% CAGR in the sliding bearing market during the assessment period. By 2033, the United Kingdom market size is expected to reach USD 101.1 million. The sliding bearing market in the United Kingdom was experiencing steady growth. It was driven by various industries, including automotive, industrial machinery, and aerospace.
Sliding bearings find applications in various industries, such as automotive manufacturing, construction equipment, renewable energy, and marine. There is an increasing emphasis on environmental regulations and the need for sustainable and energy-efficient bearing solutions. This drove research and development in eco-friendly bearing materials and lubrication technologies.
Sliding bearing markets in the United Kingdom include SKF Group, NSK Ltd., and Schaeffler AG. Advancements in bearing technology, such as self-lubricating and smart bearings equipped with sensors for condition monitoring, were gaining traction. Directions were distributed through distributors, wholesalers, and direct sales channels. Online platforms were also becoming increasingly important for sales and distribution.
China is poised to expand at a CAGR of 8.8% between 2023 and 2033. Revenue generated by the sliding bearing market will likely be worth USD 376.8 million by the end of 2033. The sliding bearing market in China is one of the leading in the world, owing to the country's vast manufacturing and industrial sectors.
China is experiencing steady growth due to expanding automotive, machinery, and construction industries. Key production centers for sliding bearings in China include Zhejiang, Jiangsu, and Shanghai. The market offers a wide range of sliding bearings, including plain, rolling, and fluid bearings.
China's booming automotive industry is a significant driver for sliding-bearing demand, particularly engine components and chassis systems. The ongoing infrastructure development projects in China have increased the demand for sliding bearings used in construction machinery.
Japan is likely to reach a total of USD 263.8 million by 2033. Sales in the global sliding bearing market will surge at 9.4% CAGR from 2023 to 2033. Several prominent Japanese companies dominate the sliding bearing market, including NSK Ltd., NTN Corporation, and MinebeaMitsumi Inc.
The automotive sector is a key driver of sliding bearing demand in Japan, with bearings used in engines, transmissions, and chassis components. Japan is known for its innovation in bearing technology, with companies investing heavily in research and development to improve bearing materials and performance.
Japan is emphasizing eco-friendly bearings, leading to the development of low-friction, energy-efficient approaches. Increasing automation and robotics in manufacturing are driving demand for high-precision bearings, a notable market trend.
South Korea is likely to top a valuation of USD 133.1 million by 2033 in the sliding bearing market. Between 2023 and 2033, sales will likely reach a 9.9% CAGR. The sliding bearing market in South Korea is experiencing growth due to the country's robust industrial base. The automotive, machinery, and manufacturing sectors influence the market size.
South Korea has a significant automotive industry with companies including Hyundai and Kia Motors. Sliding bearings are used extensively in engines and other vehicle components, driving demand in this sector. The manufacturing and machinery sectors in South Korea rely on sliding bearings for various applications, including conveyor systems, robotics, and heavy machinery.
Key players include Samick Precision and global companies such as SKF and NSK. The market will likely continue evolving with a focus on sustainability, energy efficiency, and the adoption of Industry 4.0 technologies, which can impact the design and application of sliding bearings.
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The table below provides information about the CAGR values of the leading segment in the global sliding bearing industry. The radial component is expected to soar at 8.3% CAGR between 2023 and 2033 based on the delivery type. On the other hand, based on material, the metallic segment is expected to expand at 8.5% CAGR.
Category (by Delivery Type) | Radial |
---|---|
Value-based CAGR (2023 to 2033) | 8.3% |
In terms of bearing type, the radial division is set to witness an 8.3% CAGR from 2023 to 2033. The global sliding bearing market is projected to be led by the radial division throughout the forecast period. Radial allows for bearing design and materials innovations, enhancing performance and durability. It also enables creating bearings tailored to specific applications, increasing demand for specialized products.
Bearings with radials can reduce friction and wear, improving machine efficiency and long lifespan. As diverse industries adopt radial division technology, it can become a standard, driving overall market growth. Emerging markets and industries that previously had limited access to advanced bearings can now benefit from radial division technology.
Category (by Material) | Metallic |
---|---|
Value-based CAGR (2023 to 2033) | 8.5% |
In terms of material, the metallic division is set to witness an 8.5% CAGR from 2023 to 2033. This segment will likely be prominent in the global sliding bearing market during the forecast period. Metallic sliding bearings are known for their superior durability compared to non-metallic counterparts. This durability ensures long product life cycles, reducing the frequency of replacements and maintenance costs for industries.
Metallic sliding bearings can handle heavy loads and high pressures, making them suitable for applications. It is used in automotive, aerospace, and heavy machinery industries and such wide usage has helped expand their market presence.
Metallic bearings can operate efficiently across a broad temperature range. This makes them suitable for extreme environments, such as those in industrial machinery, where temperature fluctuations are common.
Precision machineries often prefer metallic bearings due to their consistent and reliable performance. This makes them a favored choice in medical equipment and high-precision manufacturing sectors.
Key sliding bearing market players invest in research and development to create advanced sliding bearings materials and designs that offer better performance, durability, and efficiency. They are also expanding their product portfolios to provide a wide range of sliding bearings for various applications and industries, ensuring they can cater to diverse customer needs.
Key Companies in the Sliding Bearing Market
Attribute | Details |
---|---|
Estimated Market Size (2023) | USD 1051.9 million |
Projected Market Valuation (2033) | USD 2420.0 million |
Value-based CAGR (2023 to 2033) | 8.7% |
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | Value (USD billion/million) and Volume (MT) |
Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
Key Countries Covered | United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, Canada, United Kingdom, Belgium, Nordic, Poland, Russia, Japan, South Korea, China, Netherlands, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
Key Market Segments Covered | Material, Bearing Type, Application, Region |
Key Companies Profiled | AST Bearings LLC; Brammer Plc; Canam Group, Inc; Cosmec, Inc; Ekspan Ltd |
The global sliding bearing market might reach USD 1051.9 million in 2023.
The demand for sliding bearings is set to surge at 8.7% CAGR over the forecast period.
The global sliding bearing market is expected to reach USD 2420.0 million by 2033.
AST Bearings LLC, Brammer Plc, Canam Group, Inc. etc. are top manufacturers of sliding bearings.
Increasing demand for advanced material bearings will likely fuel demand for sliding bearings.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Metallic 5.2. Non-Metallic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Bearing Type 6.1. Radial 6.2. Linear 6.3. Thrust 6.4. Angular Contact 6.5. Other Bearing Types 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Engine 7.2. Brakes 7.3. Bogie 7.4. Interior 7.5. Exterior 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. AST Bearings LLC 18.2. Brammer Plc 18.3. Canam Group Inc 18.4. Cosmec Inc 18.5. Ekspan Ltd. 18.6. Epic Polymer Systems Corp. 18.7. Freyssinet Ltd. 18.8. GGB Bearing Technology 18.9. Granor Rubber & Engineering Pty. Ltd. 18.10. Kantaflex (India) Private Ltd. 18.11. Megeba SA 18.12. Metal Engineering & Treatment Co. 19. Assumptions & Acronyms Used 20. Research Methodology
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