Sliding Bearing Market Size, Share, Growth, and Industry Analysis, By Type (Radial Sliding Bearing, Axial Sliding Bearing), By Application (Machinery & Equipment, Automotive, Aerospace & Defense, Others) and Regional Forecast to 2032

Updated On: 21 October 2024

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SLIDING BEARING MARKET REPORT OVERVIEW

The Sliding Bearing Market Size was Valued at US$ 974.9 Million in 2023. The Market is likely to Surpass US$ 2767.48 Million by 2032 at a CAGR of 11% During the Forecast period [2024-2032].

Along the surface where a moving part and a fixed element come into touch, sliding occurs. Because there are two sliding surfaces generating friction, this bearing is also known as a plain bearing. Typically, a sliding surface supports the shaft, allowing for easy sliding movement with air and oil positioned in between. Sliding bearings provide less noise and vibration and are lightweight, long-lasting, and efficient. The stationary member known as the frame or housing receives the load delivered from the rotating member. Relative motion between two parts is allowed in one or both directions with the least amount of friction, and it also stops motion in the direction of the imposed load. Thus, during the course of the projected period, more demand for high efficiency and more railway expansion projects are anticipated to propel market growth.

The course of the rapidly evolving Sliding Bearing Market is being influenced by several notable developments. The increasing demand for high-performance and energy-efficient solutions has led to advancements in material technology, which have produced bearings with greater durability and less friction. Moreover, smart technology integration and data analytics are growing in popularity. These developments give manufacturers valuable knowledge regarding predictive maintenance and how to get the most out of sliding bearings overall.

COVID-19 Impact: Sharp Decline In Demand Due To Lockdown Restrictions

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

As the government-imposed restrictions on social gatherings and restricted travel and transport. The manufacturing and supply chain disruptions hurt market manufacturing of components. The COVID-19 pandemic had a major effect on the expansion of the international market for sliding bearing. The sliding bearing sector encountered unique difficulties throughout the pandemic. The COVID-19 pandemic had a profound influence on the commerce sector and industry. Manufacturers are developing methods to recover from the current circumstances, such as reorganizing their sales channels and product innovation. The duration of the viral spread continues to be an important component in determining the pandemic's overall impact. However, the worldwide Sliding Bearing Market is likely to stabilize after 2021. The pandemic had minimal influence on the selling sector. Travel limitations brought about by the COVID-19 pandemic have changed international business practices. The strategy has made it easier for firms and employees to communicate by removing geographical barriers. If remote working patterns are kept up after the pandemic, the Sliding Bearing Market will decline quickly on a global scale. Organizers and educational institutions ran into problems when trying to provide in-person cybersecurity instruction.

LATEST TRENDS

"Huge Industry To Encourage Market Expansion"

The primary trend propelling the market is the growing use of products in large industries. Industrial firms are increasingly using plastic bearings because of their cost, versatility, and cleanliness. They are composed of a thermoplastic alloy that has minimal friction, a fiber matrix, and solid lubricants all of which support their improved strength and the market's overall growth. The extensive usage of bearings is driving the rise of the global market. The main reason for the product's adoption is its advantages. No further lubrication is required because they lubricate themselves. They can be employed in tough locations where corrosion is expected to develop because of their strong corrosion resistance. Designers frequently choose these bearings when building such surroundings because they are insensitive to them. This tendency is expected to contribute to the industry's growth during the forecast period. Therefore, it is expected that the product's greater use in large-scale industries will boost market sales as a whole. The increasing size of the market can be attributed primarily to these new product innovations and variants. The general orientations that a market or industry is taking over time, impacted by a range of factors and indicative of possible future growth, are known as Sliding Bearing Market trends. Furthermore, R&D expenditures are essential for developing technology and raising the caliber of products. Furthermore, the market has bright futures because of the growing adoption of digitalization and contemporary technology, which should open up new opportunities for development and innovation. These patterns may be the result of a variety of factors, including shifts in consumer behavior, socioeconomic developments, and technological breakthroughs. For instance, the industries' rising integration of automation and artificial intelligence reflects the trend toward greater efficiency and innovation. Additionally popular trends include sustainability and eco-consciousness, with businesses and consumers placing equal value on environmentally friendly practices and products.

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SLIDING BEARING MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Radial Sliding Bearing, Axial Sliding Bearing.

• Radial Sliding Bearing: This section covers radial sliding bearing which lowers the friction between moving elements, radial sliding bearings are a form of bearing that helps a shaft or component rotate smoothly. Numerous industries, including automotive, aerospace, construction, and industrial machines, use these bearings extensively. The increasing need for precise components across multiple industries is driving steady expansion in the global radial Sliding Bearing Market. The market is fueled by the expanding automotive sector, the growing need for affordable, long-lasting bearings, and technological breakthroughs that result in the creation of cutting-edge goods.

• Axial Sliding Bearing: This section covers Axial sliding bearing that run parallel to the direction of the shaft are supported by axial sliding bearings and fuel the market growth.

By Application

Based on application the global market can be categorized into Machinery & Equipment, Automotive, Aerospace & Defense, Others.

• Machinery & Equipment: This section covers machinery and equipment that uses sliding bearings to reduce friction and boost effectiveness. Not just one but several industries such as energy, construction, and maritime take advantage of these bearings because of their unique requirements.

• Automotive: This section covers automotive segment which utilize sliding bearings necessary parts for the automotive industry in order to sustain the oscillating and rotating movements of cars.

• Aerospace & Defense: The aerospace and defense sectors depend on sliding bearings for the effective operation of military hardware and aircraft, which is the subject of this section's discussion.

DRIVING FACTORS

"Excellent Dependability, Economy, And Efficiency Will Boost The Market Growth"

In the upcoming years, the primary market driver for sliding bearings is anticipated to be the anticipated expansion in railway infrastructure projects. The need for metros and light trains is increasing as a result of the quickly expanding urbanization, which is anticipated to support the Sliding Bearing Market's expansion throughout the forecast period. Sliding bearings' affordability, high efficiency, and dependability are anticipated to fuel the market's further expansion. However, the limited uses of sliding bearings in the railway industry and the raw material price fluctuation may impede market expansion. The growing market for hydrogen-fueled vehicles is fueled by the significant advantages that sliding bearings provide to consumers over alternative powered engines. Manufacturers highlight these attributes in order to gain market share and increase consumer awareness of hydrogen-powered automobiles. Thus, during the course of the forecast period, these factors are anticipated to contribute to the Sliding Bearing Market growth.

"Increase In Supply Contracts And Investments In Railway Infrastructure Will Expand Market Growth"

One of the major factors propelling market growth is the growing in supply contracts and rising investments in railway infrastructure across worldwide. Many developing country governments allocate a sizeable percentage of their yearly budget to building railway infrastructure in order to give their inhabitants better means of transportation. Because railways are thought to be an affordable form of transportation, there has been a noticeable increase in the use of them during the last few decades. Governments are therefore keen to develop their rail networks, which will facilitate the Sliding Bearing Market growth throughout the anticipated period. In response to the increasing market demand for high-performance bearings, manufacturers have expanded their product offerings to include advanced sensor units. The sensor units help with the digital monitoring of the product's axial movement, rotation speed, acceleration, deceleration, and load-carrying capability. Furthermore, the introduction of the Agricultural IoT has promoted the use of linked machinery and equipment as well as ongoing monitoring of it. The market has benefited from this tendency as well. Technological developments, in particular the incorporation of intelligent features for condition monitoring, highlight how flexible fragmented players are when it comes to adopting new ideas. Because bearings are essential to maintaining machinery performance and safety in this varied and ever-changing sector, regulatory compliance and strict adherence to quality standards remain critical factors.

RESTRAINING FACTORS

"Elevated Temperature To Hinder Market Growth"

The obstacle to market expansion is their inability to function in high temperatures. The incapacity of plastic bearings to tolerate heavy loads and extremely high temperatures is their greatest disadvantage. Cold flow refers to the deformation or dimensional change that occurs in materials that are constantly loaded at operational temperatures. The market's overall growth may be hampered by this constraint. Thus, it is expected that these factors will limit market growth throughout the projection period. But this problem will find a solution eventually. As soon as this issue is resolved, the market will expand.

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SLIDING BEARING MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Dominating the Market due to Presence of a Large Consumer Base"

In the Sliding Bearing Market share, North-America will continue to lead up to the projected period. Because this region is the product's principal customer, the market for plastic bearings in North America has profited from the region's rising industrial development as well as a number of driving factors that have boosted the potential sectors. The market share of plastic bearings is increasing due to the growing product used in the automotive, bicycle, medical, textile, packing, and elevator sectors. Rapid urbanization trends will further bolster the market overall. Because of its capacity to support large axial and radial loads, sliding bearings are the most popular type on the Sliding Bearing Market. The majority of sliding bearings are composed of metallic elements because of their ability to withstand high temperatures and severe loads. The industry's major application sector is bogies, which are driven by the increased demand for cross-country freight transit, which necessitates specially made vehicles. Because of this, North America is distinguished as a major player in the worldwide Sliding Bearing Market, setting the bar for effectiveness, cutting edge technology, and environmental responsibility. North America is seeing a rise in the use of advanced Sliding Bearing Market as a result of increased awareness of manufacturing issues and the requirement of sustainable development. Governments strict regulations or emphasis on climate change will create a dominance in the region and promote growth of the sector.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The Sliding Bearing Market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. These industrial titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to meet the changing demands and tastes of consumers. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

LIST OF MARKET PLAYERS PROFILED

• RBC Bearings (U.S.)
• Schaeffler (Germany)
• NTN Corporation (Japan)
• NSK (Japan)
• SKF Group (Sweden)
• GGB Bearing Technology (U.S.)
• Brammer Plc (U.K.)
• Timken (U.S.)
• JTEKT (Japan)
• AST Bearings LLC (U.S.)

INDUSTRIAL DEVELOPMENT

February 2024: North Carolina-based American Roller Bearing Co. was acquired by Timken, a top supplier of cutting-edge industrial motion equipment and bearings. At the moment, Timken, a pioneer in industrial bearing solutions, offers ARB products. In 2022, ARB recorded sales of USD 30 million. The business boasts a sizable customer base and a flourishing aftermarket in the US.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.

In order to provide a comprehensive analysis, the research report explores market segmentation using both qualitative and quantitative research approaches. Additionally, it assesses how the market is affected by strategic and financial viewpoints. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.