Several key players in the plain bearings market are developing advanced spherical bearings for automotive and industrial applications. For instance,
• In November 2023, Igus, specializing in motion plastics, launched the ECO P210 Plain Bearing Series. This ECO P210 plain bearing is chemical-resistant and has a wide range of applications in various industrial machines, including agitators, filtration devices, laboratory mills, and car washes.
• In August 2022, Schaeffler developed and launched a spherical roller hydrodynamic plain bearing at WindEnergy Hamburg Show in 2022. The new asymmetric spherical roller plain bearing was launched to be installed directly in the wind turbine nacelle. This reduces the cost of bearing replacement by almost 50%. The new plain-bearing solution offers higher power density with enhanced operating times and lower carbon footprints.
• In September 2021, SKF—a supplier of bearings, sealing solutions, condition monitoring systems, and services—launched a new spherical roller plain bearing in North America. These plain bearings are specifically designed to increase uptime, lower production costs, and reduce environmental impact for slab, billet, and bloom continuous casting operations.
Thus, the introduction of innovative plain bearings by key players operating in the market is likely to bring in new trends for the plain bearings market growth.
Raw materials used in the manufacturing of plain bearings include steel, bronze, copper, polymers, plastics, composites, and others. These materials are used in the manufacturing of plain bearings owing to their load-bearing capacity, strength, and thermal conductivity. Sliding properties and wear resistance of plain bearings are improved by lubrication. Remington Industries; Tata Steel; Nippon Steel; JSW Steel; Jindal Steel; Grainger Industrial Supply; Hubbard Supply Co.; Industrial Metal Supply Co.; Murphy and Nolan, Inc.; Metric Metal; American Metals Inc.; Norfolk Iron & Metal; Mill Steel Company; Southern Copper & Supply; Farmers Copper; Versa-Bar; and Aviva Metals are among the key raw material suppliers in the plain bearings market ecosystem.
Plain bearings manufacturers hold a potential share of the plain bearings ecosystem. The manufacturers procure raw materials from the preferred suppliers through direct or indirect sales channels to manufacture different types of bearings, including spherical bearings, rod ends, and bushings. Manufacturers also comply with the plain bearing products with domestic and international regulatory standards through several certifying bodies such as ATEX, NEC, IECEx, CEC, and others, which specify the bearing requirements at each stage of the value chain. RBC Bearings Incorporated, Bailey International LLC, Schaeffler Group, Daido Metal Co., Ltd., The TIMKEN Company, AST Bearings, AB SKF, NTN Corporation, IKO International, Regal Rexnord Corporation, Boston Gear, and Intech Bearing Inc are the players operating in the market.
Plain Bearings Market Share: Application Overview
The automotive and transportation segment held the largest plain bearings market share in 2023. Plain bearings find major applications in the automotive and transportation industry. For instance, thrust bearings are utilized for handling heavy axial loads in automotive transmissions. Plain bearings are used in several components of an automotive vehicle to ensure smooth flow of power transmissions. For instance, plain bearings are used in engines to provide support to the crankshaft, camshaft, and other connecting rods for performing precise movements, which are crucial for efficient engine operation. Further, the rising production of motorbikes, passenger cars, and commercial vehicles triggers the demand for plain bearings. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2021, around 80 million passenger and commercial vehicles were manufactured; the production volume reached 93.54 million in 2023. Thus, the growth of the automotive and transportation segment is contributing to the overall plain bearings market size.
The scope of the plain bearings market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America held the largest plain bearings market share in 2023 and is projected to maintain its dominance during the forecast period.
The plain bearings market in Asia Pacific is segmented into China, India, Australia, Japan, South Korea, and the Rest of Asia Pacific. Asia Pacific countries have demonstrated a strong focus on the development of the construction sector in the past. A large population of Asia Pacific signifies a heightened demand for infrastructure construction. The region comprises several developing economies, including India and many other Southeast Asian countries, posing a strong demand for different infrastructure projects. Governments of various countries are adopting several ways to attract private investments in infrastructure development projects. In 2022, KKR, an investment firm, raised US$ 6.4 billion for infrastructure projects in Asia. In addition, in 2023, the Indonesian government announced the finalization of 190 National Strategic Projects (PSN) worth US$ 95 million. This project includes the construction of toll roads, dams, and airports, among others. In 2024, the Philippine Department of Public Works and Highways (DPWH) declared the completion of a road infrastructure project. According to the United Nations Economic and Social Commission for Asia and the Pacific Survey, Asia Pacific plans to invest more than US$ 196 billion annually in road transportation infrastructure development. Increasing investments in residential, commercial, and infrastructure construction projects are boosting the demand for construction machines, which is boosting the global plain bearings market growth.
The demand for plain bearings is growing at a rapid pace in the industrial sector in Asia Pacific. China is a frontrunner in the fabrication business of plain bearings for the residential and commercial sectors. The country has demonstrated its importance as both a consumer and producer of plain bearings. The country is witnessing an upsurge in high-quality plain bearings, ensuring that they are functional and durable. India, Indonesia, and Vietnam are among other significant contributors to the plain bearings demand growth in Asia Pacific. The plain bearings market growth in this region I primarily attributed to a wide range of income levels and the rapidly growing middle class.
The flourishing aerospace, military, defense, and technology sectors also favor the market in Asia Pacific. The region has seen heavy imports of modern commercial aircraft in recent years due to the increasing number of international travelers from countries such as India, China, Japan, and Taiwan. The number of airports in the region is also on the rise, which, in turn, boosts the demand for plain bearings from airline companies. The agricultural and wood product businesses are among other enablers of the plain bearings market in Asia Pacific. China has demonstrated its importance as both a consumer and producer of agriculture and forest products.
Plain Bearings Market: Competitive Landscape and Key Developments
Rheinmetall AG, RBC Bearing Incorporated, Bailey International LLC, The Timken Co., AST Bearing LLC, NTN Corp, IKO International, Inc., SKF AB, Regal Rexnord Corp, and Daido Metal Co. Ltd. are among the key players covered in the plain bearings market report. Companies in the market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.
