PUBLISHER: The Business Research Company | PRODUCT CODE: 1711282
PUBLISHER: The Business Research Company | PRODUCT CODE: 1711282
A thrust bearing is a specialized type of rotary bearing designed to bear axial loads, which are forces applied parallel to the axis of the shaft. In contrast to radial bearings, which support loads that are perpendicular to the shaft, thrust bearings are specifically engineered to handle forces that push or pull along the rotational axis. Their primary function is to minimize friction and support axial loads in rotating applications, facilitating smooth rotation while enduring the forces exerted along the axis of the rotating components.
The main categories of thrust bearings include ball thrust bearings, single-direction thrust bearings, double-direction thrust bearings, cylindrical roller thrust bearings, spherical roller thrust bearings, and tapered roller thrust bearings. A ball thrust bearing is crafted to support axial loads while allowing rotational movement between two parts, all while reducing friction. These bearings are typically made from materials such as stainless steel and ceramic. They are available through various distribution channels, both online and offline, and are utilized across numerous sectors, including automotive, power and energy, aerospace, and industrial applications.
The thrust bearings market research report is one of a series of new reports from The Business Research Company that provides thrust bearings market statistics, including the thrust bearings industry's global market size, regional shares, competitors with a thrust bearings market share, detailed thrust bearings market segments, market trends and opportunities, and any further data you may need to thrive in the thrust bearings industry. This thrust bearings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The thrust bearings market size has grown strongly in recent years. It will grow from $3.51 billion in 2024 to $3.79 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing industrialization, growing automotive production, rise in aerospace applications, expansion of heavy machinery usage, and ease in wind energy installations.
The thrust bearings market size is expected to see strong growth in the next few years. It will grow to $5.1 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising demand for renewable energy, increasing construction activities, growing oil and gas exploration, expanding e-mobility adoption, and a rise in robotics and automation. Major trends in the forecast period include demand for eco-friendly materials, focus on energy efficiency, rise in electric vehicles, growth in automation in manufacturing, and expansion of offshore energy projects.
The thrust bearings market is anticipated to grow significantly, driven by the expanding automotive sector. This industry includes businesses involved in the design, development, manufacturing, and sale of motor vehicles. The automotive sector is gaining momentum due to factors such as consumer demand, the availability of credit, the rise of electric vehicles, and a shift in consumer preferences towards innovative transportation solutions. Thrust bearings play a crucial role in this sector by supporting axial loads and reducing friction in vital components such as transmissions and steering systems, thereby enhancing vehicle durability and performance. For example, a report from Statistics Canada indicates that in 2022, the number of registered road motor vehicles in Canada reached 26.3 million, marking a 0.3% increase from 2021. This growth in the automotive sector is a key driver for the thrust bearings market.
Key players in the thrust bearings market are increasingly focusing on the development of mounted thrust bearings to satisfy the rising demand for efficient and durable components across various industrial sectors. These mounted thrust bearings, which are pre-assembled and ready for installation, offer several benefits, including reduced maintenance time, enhanced load-carrying capacity, and improved alignment. For instance, in March 2024, Auburn Bearing & Manufacturing, a US-based company specializing in ball and roller thrust bearings, introduced the MT-114RG mounted thrust bearing. This new product enhances the versatility of the T-114RG thrust bearing series by allowing for easier installation. The MT-114RG can be simply threaded onto a shaft, streamlining the installation process and ensuring secure placement.
In April 2024, Zhejiang XCC GROUP CO. Ltd, a Chinese manufacturer of thrust bearings, acquired WJB Automotive LLC for an undisclosed sum. This acquisition is expected to leverage WJB Automotive's market expertise alongside XCC-ZXZ Group's manufacturing capabilities, facilitating global growth, broadening market reach, and accelerating product innovation within the automotive industry. WJB Automotive LLC is a US-based company that produces thrust bearings and related components.
Major companies operating in the thrust bearings market are JTEKT Corporation, SKF AB, NTN Corporation, The Timken Company, Nachi-Fujikoshi Corp., RBC Bearings Ltd, C&U Group, Waukesha Bearings Corp, American Roller Bearing Company, NSK Ltd, Kingsbury Inc., Bearings Plus Inc, Scheerer Bearing Corporation, SNL Bearings Ltd, ZKL Group, Boca Bearings Co. Ltd, Adarsh Bearings Pvt Ltd, Gem Bearings, Qibr Bearing Co. Ltd, Astro Bearings Corp
North America was the largest region in the thrust bearings market in 2023. The regions covered in the thrust bearings marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the thrust bearings marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The thrust bearings market consists of sales of magnetic thrust bearings, fluid film thrust bearings, full complement thrust ball bearings, angular thrust ball bearings and thrust needle bearings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Thrust Bearings Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on thrust bearings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for thrust bearings ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The thrust bearings market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.