New York (US), July 13, 2023 (GLOBE NEWSWIRE) -- Plain Bearing Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Plain Bearing Market Information by Type, by End-Use Industry, and Region - Forecast till 2032", The plain bearing market will be expanding from USD 11.1 Billion in 2023 to USD 17.0 Billion by 2032, with a 5.50% CAGR from 2023 to 2032.
Market Synopsis
Plain bearings, commonly referred to as solid bearings or bushings, are the most fundamental in their class. Just a bearing surface is there; there are no rolling components. When the shaft comes into contact with the bearing, a portion known as the journal slides along the bearing's surface. In comparison to other bearings, they are less expensive, smaller, and more capable of carrying heavy weight. Based on their design, plain bearings are separated into four groups: thrust bearings, journal bearings, linear bearings, and angular contact plain bearings. Several industries, including aerospace, automotive, energy, construction, oilfield machinery, gardening equipment, and agricultural machinery, use plain bearings.
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Market Competitive Landscape:
The prominent manufacturers of plain bearings are
- Altra Industrial Motion Corp.
- GGB
- igus
- Minebea Intec GmbH
- NSK Ltd.
- NTN Corporation
- PBC Linear
- RBC Bearings Incorporated
- SGL Group
- SKF
- Schaeffler AG
- THK CO., LTD.
- Thomson Industries, Inc.
- Kashima Bearings, Inc.
- THE TIMKEN COMPANY
- ZOLLERN GmbH & Co. KG
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 17.0 Billion |
| CAGR | 5.50% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | The growth of various end-use industries and increasing investments in infrastructure, new industrial projects, and the development of heavy machinery in developed and developing economies |
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Market USP Covered:
Market Drivers:
The need for plain bearings is rising in end-user industries. The plain bearing market is driven by end-use segments such as automotive, aerospace, energy, construction, oilfield, agricultural, gardening, and office products. Due to their simplicity of usage, plain bearings are a feasible alternative to rolling component bearings. They are easier to maintain and have a simpler design. They can handle more weight and have a more compact structure. The broader contact area while moving big objects is another benefit. This enhances the ability to withstand misalignment and resist shock. They can save more space and efficiently reduce vibrations than rolling component bearings when placed appropriately. They offer exceptional value for the money for designers because they are more robust and last longer.
Plain bearings have begun to take the place of roller bearings in the automotive sector due to their small cost and usability advantages. They require minimal maintenance because there is no complexity from being a one-piece structure. Plain bearings are now even more important and useful as a result of cutting-edge technology and in-depth research. Examples include maintenance-free spherical plain bearings, composite plain bearings, and self-lubricating plain bearings that do not require external lubrication. Smart bearings and bearings with compressed air cushioning are also in development.
Several industries, including automotive, aerospace, building, energy, and other mechanical equipment, are seeing an increase in the use of plain bearings. The significant expansion of the plain bearings market is a result of all of these factors.
Market Restraints:
The difficulties with lubrication during startup and shutdown continue to limit the market's expansion for plain bearings.
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Opportunities
Currently, major producers of plain bearing materials in North America and Europe follow strict governmental regulations. On the other hand, emerging regions have less or no industry laws, albeit there are a few that mandate the use of hygienic and environmentally safe plain-bearing objects. Expanding markets in the Middle East, Africa, and Asia Pacific hence offer opportunities for plain bearing producers. The enormous potential for development of the emerging regions may be seen in the resounding success of end-use industries such as automotive, aerospace, energy, agriculture, construction, mining, and oil & gas.
COVID 19 Analysis
Despite a positive global number, the demand for plain bearings decreased by double digits in many countries in 2020. They were especially vulnerable to the pandemic because of tighter regulations, falling raw material prices, a decline in tourism, and insufficient fiscal support in emerging nations.
In 2021, both developed and developing countries saw strong recoveries. The demand for construction materials and equipment returned to its pre-pandemic level in emerging countries in 2021, which had a faster rebound than developed countries. In advanced economies, it took more time. Despite a little pause in growth, 2022 saw a strong resurgence. Both the pandemic's course and the effectiveness of the vaccination were unknown, which raised the stakes for both extremes.
Market Segmentation
By Type
The plain bearing types are Bearing Journal, linear, thrust, angular contact, and others. In 2022, the Journal market category was the largest worldwide. This is mainly the result of an increase in demand for journal bearings across a variety of end-use industries, such as transportation, aerospace, heavy equipment, and energy. Exceptional strength and shock resistance are further features that journal bearings have. No rolling parts are present in these bearings. These bearings work well when the system is severely loaded, there is proper clearance, and there is lubrication.
By End-Use Industry
Automotive, industrial, aerospace, energy, construction equipment, agricultural and gardening equipment, oilfield machinery, office products, and other end-use sectors are the main ones. In 2022, the plain bearing market was controlled by the automotive industry. This is primarily attributable to the increase in demand for plain bearings in the automotive industry. Plain bearings are used in the creation of a variety of automobile parts, including door hinges, center armrests, belt tensioners, stub axels, gear actuators, convertible top systems, pedal systems, seating systems, steering systems and throttle valves.
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Regional Insights
With a share of 45.80%, the North American market will hold the top spot in 2022. This is due to the increased need for plain bearings in a number of industries, including automotive, aerospace, construction, and others. Additionally, the North American market with the quickest rate of growth was Canada, while the U.S. had the largest market share worldwide for plain bearings.
Due to the abundance of inexpensive raw resources, low manufacturing costs, and the desire to provide superior local market service, Europe has a good market share. Due to this, the bulk of multinational corporations plan to move their production base to this region. While the U.K. industry will have the fastest growth rate, the German market is now in the lead.
The Asia Pacific Global Plain Bearing Market is expected to register significant growth from 2023 to 2032. This is a result of the region's growing demand for plain bearings from a variety of end-use industries, including the automotive, aerospace, building, and energy sectors. In the Asia-Pacific area, China, India, and Japan are the top producers and consumers of plain bearings. Asia Pacific is a region that is quickly developing and has many chances for business players. Moreover, China’s Global Plain Bearing Market held the largest market share, and the Indian Global Plain Bearing Market was the fastest-growing market in the Asia-Pacific.
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