Plain Bearing Market reaches a valuation of 17 USD

DUBAI, United Arab Emirates, 16 Feb. 2022 (GLOBE NEWSWIRE) — During the evaluation period, the plain bearing market is expected to grow at a robust CAGR of 5%, from US$10 billion in 2021 to US$17 billion by 2032.

According to the IMF Journal Bearings Market Report, the global market is expected to be worth US$10 billion in 2021 and US$17 billion by 2032, growing at a modest CAGR of 5% over the forecast period. .

Attributes Details
CAGR of Plain Bearings Market (2022-2032) ten%
Plain Bearings Market (2021) 10 billion US dollars
Attraction of the plain bearing market Technological advances to multiply opportunities

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The rise in plain bearing applications drives the market forward. In addition, increased infrastructure spending, emerging technology projects and the development of heavy machinery in China, India, the United States, Germany and Brazil have further strengthened plain bearing market growth.
Potential uses in the oilfield, construction, automotive, aerospace, industrial and energy sectors market size of plain bearings. The expansion of the industry has been driven by aspects such as high quality and durability and low cost production.

In response to the increasing global demand for automobiles, the sales for plain bearing should also grow. Additionally, growing need for wind power generation, growing urbanization in emerging regions, and technical developments are all significant market variables that will increase the market potential of plain bearings. Plain bearings are lightweight, have a high load capacity, require less maintenance, have a longer service life and are exceptionally reliable. these plain bearing applications also propel the industry forward. The market is also growing as the need for bearings in the defense and aerospace industries increases.

Additionally, the introduction of smart bearings and economic growth will create new opportunities for more plain bearing industry trends in the near future.
the global plain bearing market research indicates that an increase in counterfeit products could stifle market growth. The pace of market growth would also be hampered by changes in input costs. Steel, tin-based alloys, chrome steel and engineering plastics are among the most important raw materials used to adopt plain bearings. On the world market, dramatic changes in the prices of several metals and crude oil have been recorded. This has a serious influence on the production of the plain bearings and the increase market share of plain bearings.

The Global plain bearing market is expected to register a valuation of US$13 billion by 2026.

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Report scope

Attributes plain bearing
bearings market
bearings market
CAGR (2022 – 2032) 5% 9% 6%
Market value (2026) $13 billion $15 billion US$2 billion
Growth factor Growing demand from end users to increase sales in Asia-Pacific. Rise of the OEM segment in Asia-Pacific and North America to multiply opportunities. Increased demand for specialty bearings to optimize costs and drive sales.
Opportunity Investments in plain bearings in the energy and industrial sectors to provide opportunities. Spending in upgrading aerospace materials to increase opportunities. Growing adoption of sensor-based rolling units and IoT to provide opportunities.
Key trends Technological advances to boost growth. Increase investments in lightweight solutions. Growing adoption of mounted bearings in key industries to drive demand.

Key points to remember

  • IMF plain bearings market report indicates that the automotive end-use industry held the largest share of the global plain bearing market. The surge of single bearings in the automotive industry is primarily responsible for the rise.
  • Due to the increase request for plain bearings of various end-use sectors such as automotive, aerospace, construction and energy in this field, the Asia-Pacific region dominated the global plain bearing market in 2020. China, India and Japan are leading the way in terms of plain bearing demand and supply in the Asia-Pacific region.
  • The European region accounted for the second largest share of the global plain bearing market. In the European region, Germany, France and the United Kingdom are the main producers and consumers of plain bearings according to the outlook of the plain bearings market.

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A new market research report on the journal bearing market clarifies that major manufacturers of journal bearing materials in North America and Europe adhere to strict government requirements. On the other hand, emerging regions have little or no industrial regulations, although there are a few rules requiring the use of environmentally friendly and safe sleeve bearing elements.

As a result, expanding markets in the Middle East, Africa, and Asia-Pacific provide plain bearing market opportunities for manufacturers. Additionally, the strong success of end-use industries such as automotive, aerospace, energy, agriculture, construction, mining, and oil & gas can be attributed to the development potential high in growing regions.

Key segments

By type:

  • Newspaper
  • Linear
  • Dive
  • Angular contact
  • Others

Per end user:

  • construction machinery
  • Automotive
  • Industrial
  • Aerospace
  • Energy
  • Agricultural and gardening equipment
  • Oilfield machinery
  • office products
  • Others

By region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

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