PUBLISHER: Grand View Research | PRODUCT CODE: 1611247
PUBLISHER: Grand View Research | PRODUCT CODE: 1611247
North America Industrial Component Market Size, Share & Trends Analysis Report By Product (Bearing, Roller Chain & Sprocket, Shaft Couplings), By Industry Vertical, By Country, And Segment Forecasts, 2025 - 2030
Market Size & Trends:
The North America industrial component market size was estimated at USD 34.85 billion in 2024 and is projected to grow at a CAGR of 8.6% from 2025 to 2030. The rise of advanced manufacturing technologies, such as additive manufacturing (3D printing), is transforming the market in North America. Additive manufacturing allows for the production of complex components with reduced material waste and shorter lead times. As companies explore the benefits of 3D printing, demand for materials and components that support these processes is increasing. This technology also enables customization and rapid prototyping, allowing manufacturers to respond quickly to changing market demands. As advanced manufacturing technologies continue to gain traction, they will play a significant role in shaping the market's future.
The rise of renewable energy sources, such as wind and solar, significantly influences the industry. As governments and organizations prioritize sustainability and clean energy initiatives, the demand for components used in renewable energy technologies is rising. For instance, manufacturers require specialized components for wind turbines, solar panels, and energy storage systems. This growth in the renewable energy sector creates new opportunities for industrial component suppliers and encourages innovation in materials and technologies. As the transition towards renewable energy continues, the market will see a sustained increase in demand driven by these green initiatives.
In addition, the adoption of Industry 4.0 principles, which emphasize the integration of digital technologies into manufacturing processes, is reshaping the industrial landscape in North America. Companies increasingly implement smart manufacturing practices that leverage IoT, artificial intelligence, and advanced analytics. This transition drives demand for industrial components that enable connectivity, automation, and real-time data analysis. As manufacturers adopt Industry 4.0 technologies, the need for advanced sensors, communication devices, and smart components will increase, further propelling market growth.
Furthermore, expanding end-user industries such as automotive, aerospace, electronics, and renewable energy drives market growth. The automotive industry, for example, is experiencing a transformation with the rise of electric vehicles (EVs) and autonomous driving technologies. This shift necessitates advanced components such as batteries, power electronics, and smart sensors, contributing to market growth. Similarly, the aerospace sector is seeing increased demand for lightweight materials and precision components to enhance fuel efficiency and performance. As these end-user industries continue to grow and evolve, they will drive the demand for specialized industrial components tailored to their unique requirements.
North America Industrial Component Market Report Segmentation
This report forecasts revenue growth at country levels and offers a qualitative and quantitative analysis of the market trends for each segment and sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the North America industrial component market based on product, industry vertical, and country.
- Product Outlook (Revenue, USD Million, 2017 - 2030)
- Bearing
- Ball Bearing
- Roller Bearing
- Plain Bearing
- Others
- Roller Chain & Sprocket
- Shaft Couplings
- Others
- Industry Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Automotive
- Agriculture
- Railway
- Aerospace
- Food & Beverage
- Others
- Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. North America Industrial Component Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Vertical Challenge
- 3.3. North America Industrial Component Market Analysis Tools
- 3.3.1. Industry Vertical Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and social landscape
- 3.3.2.3. Technological landscape
- 3.3.1. Industry Vertical Analysis - Porter's
Chapter 4. North America Industrial Component Market Product Outlook
- 4.1. North America Industrial Component Market, By Product & Market Share, 2022 & 2030
- 4.2. Bearing
- 4.2.1. Bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.2.1.1. Ball Bearing
- 4.2.1.1.1. Ball bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.2.1.2. Roller Bearing
- 4.2.1.2.1. Roller bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.2.1.3. Plain Bearing
- 4.2.1.3.1. Plain bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.2.1.4. Others
- 4.2.1.4.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.2.1.1. Ball Bearing
- 4.2.1. Bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.3. Roller Chain & Sprocket
- 4.3.1. Roller chain & sprocket market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.4. Shaft Couplings
- 4.4.1. Shaft couplings market estimates and forecasts, 2017 - 2030 (USD Billion)
- 4.5. Others
- 4.5.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
Chapter 5. North America Industrial Component Market Industry Vertical Outlook
- 5.1. North America Industrial Component Market, By Industry Vertical Analysis & Market Share, 2022 & 2030
- 5.2. Automotive
- 5.2.1. Automotive market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.3. Agriculture
- 5.3.1. Agriculture market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.4. Railway
- 5.4.1. Railway market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.5. Aerospace
- 5.5.1. Aerospace market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.6. Food & Beverage
- 5.6.1. Food & Beverage market estimates and forecasts, 2017 - 2030 (USD Billion)
- 5.7. Others
- 5.7.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
Chapter 6. North America Industrial Component Market: Country Estimates & Trend Analysis
- 6.1. North America North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
- 6.2. U.S.
- 6.2.1. U.S. North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
- 6.3. Canada
- 6.3.1. Canada North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
- 6.4. Mexico
- 6.4.1. Mexico North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Positioning
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles/Listing
- 7.4.1. SKF
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. NTN Corporation
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. The Timken Company
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Schaeffler Group
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. JTEKT Corporation
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Renold plc
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. Webster Industries Inc.
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. Regal Rexnord
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. NSK Ltd.
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. Hangzhou Donghua Chain Group Co., Ltd.
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Strategic Initiatives
- 7.4.1. SKF
List of Tables
- Table 1 North America industrial component market size estimates & forecasts 2017 - 2030 (USD Billion)
- Table 2 North America industrial component market, by country 2017 - 2030 (USD Billion)
- Table 3 North America industrial component market, by product 2017 - 2030 (USD Billion)
- Table 4 North America industrial component market, by industry vertical 2017 - 2030 (USD Billion)
- Table 5 North America industrial bearing component market, by country 2017 - 2030 (USD Billion)
- Table 6 North America industrial roller chain & sprocket component market, by country 2017 - 2030 (USD Billion)
- Table 7 North America industrial shaft couplings component market, by country 2017 - 2030 (USD Billion)
- Table 8 North America others industrial component market, by country 2017 - 2030 (USD Billion)
- Table 9 North America automotive industrial component market, by country 2017 - 2030 (USD Billion)
- Table 10 North America agriculture industrial component market, by country 2017 - 2030 (USD Billion)
- Table 11 North America railway industrial component market, by country 2017 - 2030 (USD Billion)
- Table 12 North America aerospace industrial component market, by country 2017 - 2030 (USD Billion)
- Table 13 North America food & beverage industrial component market, by country 2017 - 2030 (USD Billion)
- Table 14 North America others industrial component market, by country 2017 - 2030 (USD Billion)
- Table 15 North America North America industrial component market, by application 2017 - 2030 (USD Billion)
- Table 16 U.S. industrial component market, by product 2017 - 2030 (USD Billion)
- Table 17 U.S. industrial component market, by industry vertical 2017 - 2030 (USD Billion)
- Table 18 Canada North America industrial component market, by product 2017 - 2030 (USD Billion)
- Table 19 Canada North America industrial component market, by industry vertical 2017 - 2030 (USD Billion)
- Table 20 Mexico North America industrial component market, by product 2017 - 2030 (USD Billion)
- Table 21 Mexico North America industrial component market, by industry vertical 2017 - 2030 (USD Billion)
List of Figures
- Fig. 1 North America industrial component market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot, by product
- Fig. 8 Segment snapshot, by industry vertical
- Fig. 9 Competitive landscape snapshot
- Fig. 10 North America industrial component market value, 2017 - 2030 (USD Billion)
- Fig. 11 North America industrial component market - Industry value chain analysis
- Fig. 12 North America industrial component market - Market trends
- Fig. 13 North America industrial component market: Porter's analysis
- Fig. 14 North America industrial component market: PESTEL analysis
- Fig. 15 North America industrial component market, by product: Key takeaways
- Fig. 16 North America industrial component market, by product: Market share, 2024 & 2030
- Fig. 17 North America bearing industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 18 North America industrial roller chain & sprocket component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 19 North America industrial shaft couplings component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 20 North America industrial others component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 21 North America industrial component market, by industry vertical: Key takeaways
- Fig. 22 North America industrial component market, by industry vertical: Market share, 2024 & 2030
- Fig. 23 North America automotive industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 24 North America agriculture industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 25 North America railway industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 26 North America aerospace industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 27 North America food & beverage industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 28 North America others industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 29 North America industrial component market revenue, by country, 2024 & 2030 (USD Billion)
- Fig. 30 U.S. North America industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 31 Canada North America industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 32 Mexico North America industrial component market estimates & forecasts, 2017 - 2030 (USD Billion)
- Fig. 33 Key company categorization
- Fig. 34 North America industrial component market - Key company market share analysis, 2024
- Fig. 35 Strategic framework
