The global plain bearing market size is estimated at USD 10.0 billion in 2021 and is projected to reach USD 13.0 billion by 2026, at a CAGR of 5.2% between 2021 and 2026. The market is propelled by the growth of various end-use industries. Increasing investments in infrastructure, new industrial projects, and the development of heavy machinery in China, India, the US, Germany, and Brazil have also boosted market growth.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=233063287
NTN Corporation (Japan), SKF Group (Sweden), Schaeffler Group (Germany), Timken Company (US), THK Co., Ltd. (Japan), NSK Ltd. (Japan), MinebeaMitsumi Inc. (Japan), RBC Bearings Incorporated (US), and SGL Carbon (Germany), ElringKlinger AG (Germany), GGB (France), igus (Germany), Kashima Bearings, Inc (Japan), Boston Gear LLC (US), Thomson Industries, Inc. (US), ZOLLERN GmbH & Co. KG (Germany), PBC Linear (US), GGT Gleitlager AG (Switzerland), Midwest Control Products Corp. (US), Accurate Bushing Company (US), AEC (India), Chiavette Unificate S.p.A. (Italy), HepcoMotion (UK), Alloy Bearings (New Zealand), and Kingsbury, Inc. (US) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
The key players operational in the plain bearing market are focusing on new product launches, , expansions and acquisitions to cater to the increasing demands across various industries. These companies are also investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the plain bearing market.
SKF Group, in March 2021, invested USD 44.3 million in expanding and modernizing its manufacturing facility in Airasca, Italy. The investment is expected to bring the manufacture of super-precision bearings for industrial applications to the Groups largest manufacturing site in Italy.
Timken Company, in December 2020, acquired the assets of Aurora Bearing Company. Aurora Bearing Company manufactures rod ends and spherical plain bearings which serve a diverse range of industrial sectors including aerospace and defense, racing, off-highway equipment, and packaging.
NTN Corporation, in August 2020, started its first overseas mass-production of precision bearings for machine tools at NTN Mettmann (Deutschland) GmbH, a subsidiary of the manufacturing company, NTN Kugellagerfabrik (Deutschland) GmbH in Germany.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=233063287
Increasing demand for plain bearings from the rapidly growing end-use industries such as automotive, aerospace, construction machinery, and energy in the Asia Pacific region is one of the major factors responsible for the highest share and CAGR of this region. The plain bearing market in Asia-Pacific is driven by the increased foreign investments and low labor costs. The end-use industries of plain bearings, such as automotive, construction machinery, and energy, are growing in emerging countries such as China, India, and Thailand, which play an important role in driving the market.
Read Our Trending Press Release Below:
Heat Exchangers Market
Methanol Manufacturers
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Aashish MehraEmail: Send EmailPhone: 18886006441Address:630 Dundee Road Suite 430City: NorthbrookState: IL 60062Country: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/plain-bearing-market-233063287.html
