What is Global Plain Bearings Market?
The Global Plain Bearings Market is a vast and dynamic sector that encompasses a wide range of products used in various industries. Plain bearings, also known as bushings, are simple devices that reduce friction between moving parts in machinery. They are typically cylindrical in shape and are used to support rotating shafts. The global market for these essential components is substantial, with a value of US$ 14610 million in 2023. The market is projected to grow steadily, reaching an estimated value of US$ 19580 million by 2030. This growth is driven by increasing demand from various industries, including automotive, construction machinery, oilfield machinery, energy, aerospace, and others. The market's expansion is also fueled by technological advancements that have led to the development of more efficient and durable plain bearings.
Radial (radial) Plain Bearing, Thrust (axial) Plain Bearing in the Global Plain Bearings Market:
The Global Plain Bearings Market is divided into two main categories based on the type of bearing: Radial (radial) Plain Bearing and Thrust (axial) Plain Bearing. Radial plain bearings are designed to support radial loads, or loads that are perpendicular to the shaft. They are commonly used in applications where the shaft rotates, such as in engines and electric motors. On the other hand, thrust plain bearings are designed to support axial loads, or loads that are parallel to the shaft. These types of bearings are typically used in applications where the shaft does not rotate, such as in gearboxes and transmissions. Both types of bearings play a crucial role in the smooth operation of machinery and equipment, contributing to the overall efficiency and performance of these devices.
Automotive, Construction Machinery, Oilfield Machinery, Energy, Aerospace, Others in the Global Plain Bearings Market:
The usage of plain bearings in various sectors is widespread due to their versatility and efficiency. In the automotive industry, they are used in various parts of a vehicle, including the engine, transmission, and suspension system. In construction machinery, plain bearings are used in heavy equipment such as excavators, bulldozers, and cranes to ensure smooth operation and reduce wear and tear. In the oilfield machinery sector, they are used in drilling equipment to withstand harsh conditions and high loads. In the energy sector, plain bearings are used in wind turbines, hydroelectric power plants, and other energy-generating equipment to enhance efficiency and reliability. In the aerospace industry, they are used in aircraft engines and landing gear systems to ensure safe and smooth operation. Other industries that use plain bearings include manufacturing, mining, and agriculture.
Global Plain Bearings Market Outlook:
Looking at the market outlook for the Global Plain Bearings Market, it's clear that the sector is on a positive trajectory. In 2023, the market was valued at a substantial US$ 14610 million. Fast forward to 2030, and this figure is expected to rise to an impressive US$ 19580 million. This represents a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2024 to 2030. This growth can be attributed to the increasing demand for plain bearings from various industries, coupled with ongoing technological advancements that are enhancing the efficiency and durability of these essential components.
| Report Metric | Details |
| Report Name | Plain Bearings Market |
| Accounted market size in 2023 | US$ 14610 million |
| Forecasted market size in 2030 | US$ 19580 million |
| CAGR | 4.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | SKF, NSK, Schaeffler Group, Nachi, The Timken Company, Mike Davies Bearings Ltd, ZYS Bearing, Nomo, AST Bearings, BSC, Barden USA, Collective Bearings |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
