Large Scale Bearing Market
Large Scale Bearing Market Analysis, By Product Type (Plain Bearings, Ball Bearings, Roller Bearings, Fluid Bearings, Magnetic Bearings), By Material (Metal / Alloy, Chrome Steel, Stainless Steel, Carbon Steel), By Inner Diameter, By Application, By Region - Global Forecast 2022-2032
Analysis of Large Scale Bearing market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Large Scale Bearing Market Outlook (2022-2032)
The global large scale bearing market is currently estimated at US$ 17.2 billion and is forecast to reach a market valuation of US$ 30.9 billion by the end of 2032, expanding at a CAGR of 6.1% between 2022 and 2032.
The top five companies operating in the large scale bearing market enjoy a market share of more than one-fifth. Revenue from large scale bearing sales accounted for nearly 12% of the global bearing market at the end of 2021.
Large Scale Bearing Market Size (2021A)
US$ 16.5 Billion
Estimated Market Value (2022E)
US$ 17.2 Billion
Forecasted Market Value (2032F)
US$ 30.9 Billion
Global Market Growth Rate (2022-2032)
Europe Market Share (2021)
South Asia & Oceania Market Growth Rate (2022-2032)
U.S Market Growth Rate (2022-2032)
Market Share of Top 5 Companies
Key Companies Profiled
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Demand Analysis of Large Scale Bearings (2017-2021) Vs. Market Outlook (2022-2032)
Bearings have transformed numerous industries over the decade. Bearings reduce friction to allow for a more seamless rotation and maintain the correct position of rotating shafts, simultaneously safeguarding the elements that support them.
A bearing can handle a wide range of load combinations; however, the four primary types of application loads are radial loads axial loads, preloads, and centrifugal loads.
The load-bearing ability depends on the type, design, and bearing; for instance, ball bearings, especially deep groove ball bearings, can take higher axial loads, and roller bearings are capable of taking higher radial loads.
Cylindrical roller bearings contribute the largest market share among roller bearings. Fluid bearings have high load carrying capacity even at low speeds, while magnetic bearings can support higher loads in harsh conditions.
To withstand and facilitate a large operation in heavy industries such as energy & utility, railway, oil & gas, construction & mining, and others, large scale bearings are crucial. Such large scale bearings with an inner diameter typically ranging from 100 mm to above 1000 mm play a crucial role in such industries, as bearing failures are responsible for 40 to 50 percent of rotating mechanism failures. Processes and machines have become so complex that the risks of failure or interruption are either too costly or disastrous.
To increase bearing efficiency and lifecycle, market participants are focusing on continual R&D in areas such as IoT functionality, lubrication improvements, and material science. As a result of such advancements in bearing technology, manufacturers can build a transition from present bearings to bearings of the future.
- Short Term (2022 Q2 to 2025): Enhanced lubrication, sealing, and material alloys resulting in increased efficiency of large-scale bearings in numerous industries to positively impact market growth.
- Medium Term (2025-2028): Large-scale bearings projected to see high demand as advanced technical implementations in end-use sectors lead to improved production capacity.
- Long Term (2028-2032): The bearing industry will integrate smart technology to meet the needs of the future when accelerated output is necessary, as the rest of the globe adopts cutting-edge technologies to speed up their operations.
During the 2017-2021 period, the global large scale bearing market registered a CAGR of 0.2%, and according to the analysis by Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 6.1% CAGR between 2022 and 2032.
Which Factors are Complementing Large Scale Bearing Market Growth?
“Technological Advancements in Large Scale Bearings by Manufacturers”
Large scale bearings are now being used in application areas, ranging from energy & utility, oil & gas, off-highway vehicles, metallurgy, etc. With the rise in end-use industries, prominent large-scale bearing manufacturers are incorporating advanced technology by conducting R&D to produce economic, highly efficient, and low-maintenance bearings.
For instance, global electricity demand is rising, which is driving the demand for advanced large-scale bearings in the energy sector that can lead to less maintenance, lower cost, less susceptibility to failure, and longer duty cycle.
Increased global demand from application sectors has prompted industries to increase their production output, thereby supporting market growth of large-scale bearings, which is expected to create an absolute $ opportunity of US$ 3.8 billion through 2032.
“Innovation in Magnetic Bearings”
Magnetic bearings differ considerably from traditional bearing designs. There is potential for key players to develop solutions that deliver new, critical benefits such as superior speed capability and control in key application areas. Magnetic bearings have the apparent advantage of allowing the spinning shaft to rotate almost free of friction. As a result, the system has less mechanical wear, generates less heat, has no spinning speed restriction, and is more efficient.
All these factors contribute to a long lifecycle, which will limit the demand for conventional bearings. The bigger the current, the stronger the magnetic field, and the bigger load it can support. The load capacity of an active magnetic bearing is quite high, which is attracting end users to implement such bearings in key application areas.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Why is Demand for Large Scale Bearings High in the United States?
The U.S. large-scale bearing market accounts for the largest market share of close to 84% in the North American region and is projected to grow at the rate of 5.4% during the assessment period.
High market growth is attributed to several factors such as growth in industries owing to advancements in production capabilities, favorable government initiatives, and rising demand for large-scale bearings from businesses across oil & gas, energy, railway, and metallurgy, as well as manufacturing industries.
Why is the China Large Scale Bearing Market Growing Rapidly?
China is set to hold nearly 66% share in the East Asia large-scale bearings market in 2022 and is projected to surge at 7.6% during the forecast years of 2022-2032.
Due to the massive growth of end-use sectors in China, such as construction & mining, manufacturing, marine, material handling, plastics processing, etc., market demand is expected to increase rapidly over the assessment period.
Will Large Scale Ball Bearings Continue Accounting for Highest Demand?
The large-scale bearing market is segmented into product types as plain bearings, ball bearings, roller bearings, fluid bearings, and magnetic bearings.
Ball bearings dominate the market with 41% market share in 2022. The segment is projected to expand at 6.1% CAGR during the assessment period, owing to factors such as wide dimensional variability, load-bearing capacity, technical integration, and the scope of these bearings that is suitable for several end-use application industries.
Why are Large Scale Bearings Widely Used in Industrial & Manufacturing?
Under end user, the large-scale bearing market is segmented into energy & utility, industrial & manufacturing, off-highway, railway, shipbuilding, oil & gas, construction & mining, metallurgy, and others.
Amongst them, the industrial & manufacturing industry will dominate the market capturing more than 13% market share in 2022.
In the manufacturing industry, ball bearings and roller bearings are utilized at several stages of the production process, while fluid bearings are used in high-precision applications, and magnetic bearings are needed where quieter operations and very low friction are desired.
Apart from this, large scale bearings find usage in the oil & gas industry, which is estimated to hold a little over 12% market share in 2022 and expand at 7.4% CAGR over the decade.
High-performance load-bearing rotor bearings that are capable of operating for a long period under extreme stress are usually required in oil & gas applications. To facilitate the necessary mobility and withstand pressure, ball and cylindrical roller bearings are used in most applications.
Don't Need a Global Report?
save 40%! on Country & Region specific reports
The large-scale bearing market is developing rapidly as a result of technical developments made by the industry's main players. Prominent players in the market are focusing on digitally-driven development around rotating shafts.
Further, leading manufacturers of large scale bearings are introducing compact, efficient solutions to improve the working conditions related to contamination, environment, assembly misalignment, vibration, and temperature that would contribute to a longer lifecycle of bearings.
Companies are focusing on hardware-software integration to develop post-process algorithms to ensure precise working conditions and also determine the root cause of faults.
For instance :
- In April 2022, SKF introduced a compact form of oil filtration system, which acts as a ‘kidney’ in a machine`s oil circulation system by removing nano-sized impurities.
- In May 2022, Schaeffler established a new bearing division for high-performance bearings for e-mobility, specifically for heavy and light commercial vehicles.
- In June 2022, Timken announced that it is developing and supplying main shaft bearings to GE Renewable Energy's Haliade-X, which is the world`s most powerful offshore wind turbine.
Key Segments Covered in Large Scale Bearing Industry Survey
Large Scale Bearing Market by Product Type :
- Plain Bearings
- Ball Bearings
- Angular Contact
- Thrust Ball
- Roller Bearings
- Fluid Bearings
- Magnetic Bearings
Large Scale Bearing Market by Inner Diameter :
- 100-300 mm Large Scale Bearings
- 300-500 mm Large Scale Bearings
- 500-700 mm Large Scale Bearings
- 700-900 mm Large Scale Bearings
- 900-1100 mm Large Scale Bearings
- Above 1100 mm Large Scale Bearings
Large Scale Bearing Market by Material :
- Metal / Alloy Large Scale Bearings
- Chrome Steel Large Scale Bearings
- Stainless Steel Large Scale Bearings
- Carbon Steel Large Scale Bearings
Large Scale Bearing Market by Application :
- Energy & Utility
- Industrial & Manufacturing
- Off Highway
- Oil & Gas
- Construction & Mining
Large Scale Bearing Market by Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
The global large scale bearing market is estimated to surpass US$ 30.9 Billion by 2032-end.
Prominent large scale bearing suppliers are SKF, Schaeffler, TIMKEN, NSK Ltd, NTN Bearing Corp, THK Co. LTD, RBC Bearings Incorporated, and IKO Bearings.
Europe tops the global large scale bearing market accounting for nearly 28% of the global market share.
Ball bearings account for 41.5% share in the global large scale bearing market.