Bearing Steel Market Report: Trends, Forecast and Competitive Analysis to 2030

Bearing Steel Trends and Forecast

The future of the global bearing steel market looks promising with opportunities in the automotive, aerospace, machinery & equipment, energy, and construction markets. The global bearing steel market is expected to reach an estimated $7.9 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are growing need in heavy industries including automotive, aerospace, construction, and energy for dependable and effective bearings, increasing desire for equipment to operate well and require less maintenance, combined with the growing miniaturization trend.

A more than 150-page report is developed to help in your business decisions.

Bearing Steel by Segment

The study includes a forecast for the global bearing steel by type, application, end use, and region.

Bearing Steel Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• High Carbon Chromium
• Carburizing
• High Temperature
• Others

Bearing Steel Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Ball Bearings
• Roller Bearings
• Thrust Bearings
• Plain Bearings
• Others

Bearing Steel Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• Aerospace
• Machinery & Equipment
• Energy
• Construction
• Others

Bearing Steel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Bearing Steel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bearing steel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bearing steel companies profiled in this report include-

• SKF Group
• Timken Company
• JTEKT Corporation
• Nippon Steel Corporation
• Schaeffler Group
• Ovako Group
• TATA Steel

Bearing Steel Market Insights

Lucintel forecasts that ball bearing will remain the largest segment over the forecast period due to their adaptability and capacity to manage axial as well as radial stresses.

APAC is expected to witness highest growth over the forecast period due to growth of industrialization in developing countries and the existence of significant industry players in the region.

Features of the Global Bearing Steel Market

Market Size Estimates: Bearing steel market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Bearing steel market size by type, application, end use, and region in terms of value ($B).

Regional Analysis: Bearing steel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, application, end use, and regions for the bearing steel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bearing steel market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the bearing steel market size?

Answer: The global bearing steel market is expected to reach an estimated $7.9 billion by 2030.

Q2. What is the growth forecast for bearing steel market?

Answer: The global bearing steel market is expected to grow with a CAGR of 3.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the bearing steel market?

Answer: The major drivers for this market are growing need in heavy industries including automotive, aerospace, construction, and energy for dependable and effective bearings, increasing desire for equipment to operate well and require less maintenance, combined with the growing miniaturization trend.

Q4. What are the major segments for bearing steel market?

Answer: The future of the global bearing steel market looks promising with opportunities in the automotive, aerospace, machinery & equipment, energy, and construction markets.

Q5. Who are the key bearing steel market companies?

Answer: Some of the key bearing steel companies are as follows.

• SKF Group
• Timken Company
• JTEKT Corporation
• Nippon Steel Corporation
• Schaeffler Group
• Ovako Group
• TATA Steel

Q6. Which bearing steel market segment will be the largest in future?

Answer: Lucintel forecasts that ball bearing will remain the largest segment over the forecast period due to their adaptability and capacity to manage axial as well as radial stresses.

Q7. In bearing steel market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to growth of industrialization in developing countries and the existence of significant industry players in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the bearing steel market by type (high carbon chromium, carburizing, high temperature, and others), application (ball bearings, roller bearings, thrust bearings, plain bearings, and others), end use (automotive, aerospace, machinery & equipment, energy, construction, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?