CAGR: 3.2%Current Market Size: USD 2.68 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global linear bearings market is expected to grow from USD 2.68 billion in 2022 to USD 3.44 billion by 2030, at a CAGR of 3.2% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising demand from the automobile sector.
Bearings that are used in linear motion are commonly found in rails and can be of many types, including simple flat surfaces, complex profiles with polished surfaces, and round polished rods. They have different capacities and can be found in a variety of shapes and sizes. In the industrial and automotive industry, the linear bearing has a wide range of applications, providing the benefit of free motion in one dimension. It enables linear and rotational motion, reduces friction, and handles stress. In addition to the increased demand for motor vehicles worldwide, the defense and aerospace sectors also contribute to the growth of the linear bearing market, which is driven by the increase in demand for linear bearings. The linear bearing is mainly used to cover critical functions associated with a variety of devices and equipment in the aerospace industry. For example, rotor blades that are spun at incredible speeds can be made stiff with linear bearings, which can also be used in aerospace applications. Furthermore, the rising demand for linear bearings in developing regions such as Asia-Pacific, Middle East, and Africa is driving the growth of the linear bearing industry. As a result of its durability properties, linear bearings are mainly used for rolling type measures in agriculture where they provide support at shafts where they move through the system with a minimum amount of downtime and noise emissions.
Sample Request: - Global Linear Bearings Market
Market Dynamics:
Drivers:
The rising demand for electronic vehicles is expected to boost the sales of the automobiles which will eventually contributes a large share in the growth of the linear bearing market. Passenger automobiles have, on average, 35 bearings, but that number varies substantially based on the model and technology used. In addition to the three additional bearings required for dual-clutch transmissions, the latest technological advances necessitate the installation of three additional bearings.
Restraints:
The market is witnessing immense growth mainly in the automobile and agriculture sector but there are some factors which are obstructing the growth of the market such as presence of counterfeits in the market. These counterfeits are offered at low prices due to which they are becoming more popular among the consumers, but quality wise they are not durable as that of the original product. The shifting of consumers preference towards the counterfeits is affecting the growth of the market.
Opportunities:
Major key players are focusing on making the product more reliable and efficient, due to which they are continuously upgrading the existing product by implementing various technological innovations, these additions are helping the market to grow more. As the products are gaining more attention from the consumers section due to the improved quality and functioning of the product.
Challenges:
While transporting and assembling the linear rail, special attention should be given to its protection, as its unique structural characteristics make it vulnerable to damage as a standard part, such as its slender shape, which leads to the linear rail, which is more susceptible to damage.
Segmentation Analysis:
The global linear bearings market has been segmented based on material, end-user, and region.
By Material
The type segment includes superball bearing, flanged linear bearing, stainless linear bearing, ceramic linear bearing and standard linear bearing. The standard linear bearing segment led the largest share of the linear bearings market with a market share of around 31% in 2022. In a standard linear bearing, two or more rigid parts are moved freely by providing low friction, free motion. A standard linear bearing is usually used in various types of machinery and equipment to provide support for shafts on which they are mounted. In addition to their reliability and durability, these bearings are designed to offer long operational life with low power consumption, thanks to stiffness, load capacity, and high-speed operation.
By Application
The application segments include agriculture, machinery & equipment, automotive, medical and others. The automotive segment led the largest share of the linear bearings market with a market share of around 28% in 2022. Different types of linear bearings are used in the automotive industry, including gearboxes and power steering systems. As a result of their reliability features including high speed operation, stiffness, load capacity, as well as their ability to prevent friction and wear, linear ball bearings play an essential role in enabling smooth functioning without interruption from friction or wear while consuming less energy. In order to meet the growing demand for technologically advanced automobiles, vehicle manufacturing is increasing. The increase in demand for modern automobiles, as well as improvements in vehicle capabilities, has increased the demand for bearings.
Global Linear Bearings Market- Sales Analysis.
The sale of linear bearings expanded at a CAGR of 2.7% from 2016 to 2022.
The growing demand for automobiles around the world is what is driving the global market for linear bearings. The need for linear bearings increases as a result of the defence and aerospace industries, which supports market expansion overall. Additionally, the development of a linear bearing market is fueled by the expanding demand of the building industry in developing nations like Asia-Pacific, the Middle East, and Africa.
However, technological development has made linear bearing more robust, which has hurt aftermarket sales. The market for linear bearings is having trouble expanding because of the rise in counterfeit goods. Additionally, the advent of smart bearings is anticipated to open up chances for linear bearing manufacturers in the near future.
Thus, owing to the aforementioned factors, the global linear bearings market is expected to grow at a CAGR of 3.2% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the linear bearings market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the linear bearings market and held a 38% share of the market revenue in 2022.
Global Linear Bearings Market - Country Analysis:
Germany's linear bearings market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 1.24 billion by 2030, at a CAGR of 3.3% from 2023 to 2030.
Agricultural use of linear bearings on rolling measures is widespread due to their durability property that ensures that components rotate smoothly without interruption by friction or wear because they provide support at the shaft. Due to its self-lubricating feature, linear bearings move through the system with minimal downtime due to their durability property.
China’s linear bearings market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 3.6% from 2023 to 2030.
As one of the world's largest markets, China is expected to enjoy strong sales growth in the coming years due to the rapid expansion of machinery production and the strong aftermarket for repairing motor vehicles.
India's linear bearings market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 1.21 billion by 2030, at a CAGR of 3.5% from 2023 to 2030.
The automotive bearing market in India will witness immense growth in the future with government initiatives such as the ‘Make in India’ initiative that aim to improve the manufacturing sector. The automotive component industry is investing more and more in India in the future, either through investments or new product launches there.
Key Industry Players Analysis:
To increase their market position in the global linear bearings market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
3.2% |
Market Size |
2.68 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Norgren Inc, Ningbo Yinzhou Weixing Bearing, Schaeffler Technologies, Nippon Bearing, The Timken Company, NBI Bearings Europe, NBB-Bearing, JTEKT Corporation, Samick, MPS Microsystem, NTN Bearing, SKF, and THK Co. Ltd. |
By Type |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Linear Bearings Market By Type:
Global Linear Bearings Market By Application:
Global Linear Bearings Market By Region:
Global Linear Bearings market is expected to reach USD 3.44 billion by 2030.
The Linear Bearings market is projected to have a CAGR of 3.2%.
Leading market players active in the global Linear Bearings market are Norgren Inc, Ningbo Yinzhou Weixing Bearing, Schaeffler Technologies, Nippon Bearing, The Timken Company, NBI Bearings Europe, NBB-Bearing, JTEKT Corporation, Samick, MPS Microsystem, NTN Bearing, SKF, and THK Co. Ltd.among other
Based on the application, the global Linear Bearings market has been segmented into Agriculture, Machinery & Equipment, Automotive, Medical and Others.
Political Factors- Uncertainty in the political environment is defined as the regularity of changes to governmental policies and laws. Because of the continual ambiguity, frequent policy changes affect company performance and make decisions more difficult. The linear bearings market should keep a close eye on the political environment and alter its strategic priorities accordingly in order to quickly adapt to changing policies. The democratic foundation of the current system of governance makes it possible for the linear bearings market to thrive. The democratic form of government promotes free enterprise and commerce, providing linear bearings market economic freedom.
Economic Factors- The abilities and skills of the staff have a big impact on linear bearings market performance. The linear bearings market need skilled employees to be on call in order to stay competitive. In order to understand how to efficiently hire people with the required skill set, linear bearings market needs to look at trends in both the supply and demand for labour. A constrained labour market and powerful worker unions may cause a lot of problems for the linear bearings market. For example, it may compel the market for linear bearings to approve an unfair salary increase or it could stop production by calling for a strike.
Social Factors- Every country has unique cultural norms, values, and traditions that shape how people behave in everyday life, including as customers. Lack of adaptability to change product/service offerings in line with local cultural practises could have a negative impact on the business. The linear bearings market needs to conduct extensive research in order to learn more about local consumers. Due to the fact that the linear bearings market is managed by a global corporation with a culturally distant home market, it may be difficult for them to understand the subtle cultural distinctions. Because of this, the linear bearings market can establish business ties with regional market players that may lead to the sharing of in-depth knowledge about cultural customs and values that influence how consumers view and interact with the brand.
Technological Factors- The research and development trend in the chosen sector or area demonstrates how forward-thinking organisations are in bringing cutting-edge technologies to market. The linear bearings market needs to better understand how new technical developments can benefit the business in addition to providing value to customers. It would be necessary to make a sizable investment in research and development activities in markets defined by disruptive technology. However, the linear bearings market must have a long-term outlook and refrain from expecting a quick return on its R&D investments.
Environmental Factors- A significant trend in many industries is the development of renewable technology to reduce reliance on natural resources. The linear bearings market should evaluate how well a country's technological infrastructure facilitates the deployment of renewable technologies in order to capitalise on this environmental trend. Governments in certain regions of the world offer alluring incentives to adopt renewable energy. The linear bearings market can take advantage of the chance to invest in renewable energy sources and achieve its objectives for long-term economic growth.
Legal Factors- A significant trend in many industries is the development of renewable technology to reduce reliance on natural resources. The linear bearings market should evaluate how well a country's technological infrastructure facilitates the deployment of renewable technologies in order to capitalise on this environmental trend. Governments in certain regions of the world offer alluring incentives to adopt renewable energy. To achieve its objectives for sustainable economic growth, linear bearings market can take advantage of the opportunity by investing in renewable energy sources.
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