Bearing Market Set for USD 337 Billion by 2035, Driven by Sustainable and High-Performance Solutions

 

The global bearing market is poised for substantial growth, projected to rise from USD 171.3 billion in 2025 to an impressive USD 337 billion by 2035, according to a comprehensive report by FactMR. With a robust compound annual growth rate (CAGR) of 7.0% over the forecast period from 2025 to 2035, the market is expected to nearly double in size, creating an absolute dollar opportunity of USD 165.7 billion. Fueled by advancements in bearing technology, the growing adoption of electric vehicles (EVs), and expanding demand in construction and industrial sectors, the bearing market is emerging as a critical enabler of modern infrastructure and mobility.

The Rise of the Bearing Market

Bearings, essential components that reduce friction and enable smooth motion in machinery, are integral to industries such as automotive, construction, aerospace, power transmission, oil and gas, and agriculture. The market encompasses a range of products, including ball bearings, roller bearings, plain bearings, and others, available as mounted or unmounted types. The FactMR report highlights that the market’s valuation of USD 159.7 billion in 2024 reflects its strong foundation, driven by technological advancements and increasing demand for high-performance, durable components across diverse applications.

The market’s growth is propelled by the global push for industrialization, particularly in emerging economies, and the rising adoption of smart, sensor-integrated bearings. Innovations such as SKF’s InsightTM, which incorporates intelligent wireless technology for real-time monitoring of axial movement, rotation speed, and load capacity, are transforming the industry. These advancements enhance equipment performance, reduce maintenance costs, and enable predictive maintenance, making bearings indispensable in mission-critical applications.

Key Drivers of Market Growth

The FactMR report identifies several key drivers fueling the bearing market’s expansion. The automotive sector remains the largest contributor, accounting for nearly 50% of global demand in 2020, driven by rising vehicle production and the shift toward electric vehicles. The International Organization of Motor Vehicle Manufacturers (OICA) reported global passenger vehicle production of 69.3 million units in 2018, and the growing EV market is creating new opportunities for specialized bearings designed for electric motors and transmissions. For instance, NTN Corporation’s ULTAGE Tapered Roller Bearing, launched in October 2020 for automotive applications, enhances performance in EV transmissions and differentials.

The construction industry is another significant driver, with increasing demand for bearings in heavy machinery such as crawler dozers, wheel loaders, and hydraulic excavators. The U.S. construction sector, contributing over USD 1.4 trillion annually according to the Associated General Contractors of America (AGC), is a major market, with the U.S. expected to hold a 40% share and grow at a 6.8% CAGR through 2032. Large-scale infrastructure projects in the U.S., India, and China are boosting demand for bearings in construction equipment, further propelling market growth.

Technological advancements, including low-friction coatings, corrosion-resistant materials, and embedded sensors, are enhancing bearing performance and longevity. The integration of the Agricultural Internet of Things (IoT) has also facilitated real-time monitoring of equipment, improving efficiency and reducing downtime. The FactMR report notes that smart bearings, capable of predicting failures before they occur, are gaining traction in energy, mining, and rail systems, where uptime is critical.

Market Segmentation and Regional Insights

The bearing market is segmented by product (ball bearings, roller bearings, plain bearings, others), type (mounted, unmounted), component (balls, rollers, cages, rings, others), and application (automotive, construction, aerospace, power transmission, oil and gas, agriculture, others). Ball bearings lead the product segment, with sales projected to grow at a 5% CAGR through 2031, while unmounted bearings dominate the type segment, capturing a 45% revenue share. The automotive sector remains the largest application, followed by construction, which is experiencing rapid growth due to global infrastructure development.

Geographically, Asia-Pacific holds the largest market share, accounting for two-fifths of global demand and projected to surpass USD 95 billion by 2031. China leads the region, driven by its robust machinery and automotive manufacturing sectors and a strong aftermarket for industrial equipment and auto maintenance. The U.S. is another key market, generating approximately 40% of global bearing sales, supported by its expansive construction and automotive industries. Europe is expected to grow at a 7% CAGR through 2032, with countries like Germany and France investing in advanced bearing technologies for industrial applications.

Challenges and Opportunities

The bearing market faces challenges, notably from counterfeit products, which can compromise equipment performance and reduce sales of genuine bearings. The FactMR report highlights that counterfeit ball bearings pose a significant threat to market growth, particularly in price-sensitive regions. Additionally, the COVID-19 pandemic disrupted the market in 2020, with lockdowns halting industrial activity and causing supply chain constraints. However, recovery began in 2021, with full stabilization expected by early 2022.

U.S. tariffs of 10% to 25% on imported bearings and components, particularly from China, have increased costs, impacting affordability in some markets. These tariffs have prompted manufacturers to explore domestic production and alternative sourcing strategies to mitigate supply chain risks. Despite these challenges, the market is rebounding, driven by the gradual reopening of economies and renewed industrial activity.

The market offers significant opportunities, particularly in the EV sector, where specialized bearings are in high demand for electric motors and powertrains. The FactMR report emphasizes that the bullish long-term prospects for EVs will create substantial growth avenues. Additionally, the rise of smart, sustainability-focused bearing technologies, such as sensor-integrated and low-friction designs, is enabling manufacturers to differentiate in a competitive landscape. Investments in R&D for application-specific solutions, particularly for wind turbines, mining trucks, and rail systems, are critical for staying competitive.

The Future of the Bearing Market

With a projected market size of USD 337 billion by 2035, the bearing market is set to become a cornerstone of global industrial and mobility ecosystems. The FactMR report underscores that sustained growth will be driven by technological innovation, the expansion of EVs, and increasing demand in construction and energy sectors. Key players, including SKF Inc., Schaeffler Technologies AG & Co., NTN Corporation, and Timken Company Ltd., are investing in product launches, capacity expansions, and acquisitions to strengthen their market positions.

The convergence of AI-powered diagnostics, IoT integration, and sustainability regulations is transforming bearings from traditional components into intelligent, eco-friendly solutions. As industries prioritize operational efficiency, safety, and environmental responsibility, bearings with embedded sensors and sustainable materials will drive the market forward. The FactMR report highlights that stakeholders investing in these advanced technologies will gain a competitive edge in the evolving industrial landscape.

Conclusion

The bearing market is on a robust growth path, projected to reach USD 337 billion by 2035 with a CAGR of 7.0%. From USD 171.3 billion in 2025, the market is driven by advancements in smart bearing technology, the rise of electric vehicles, and growing demand in construction and industrial sectors. Despite challenges like counterfeit products and supply chain disruptions, the market’s focus on innovation and sustainability positions it for strong growth.