Press release
Bearing Steel Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
How Will the Bearing Steel Market Grow, and What Is the Projected Market Size?
The bearing steel market has seen steady growth, expected to expand from $6.71 billion in 2024 to $6.96 billion in 2025, at a CAGR of 3.8%. Growth factors include industrial sector expansion, rising demand for electric vehicles (EVs), increased usage in mining and construction, infrastructure development, and growing automation trends.
The bearing steel market is expected to see steady growth, reaching $8.15 billion by 2029 with a CAGR of 4.0%. Growth is attributed to increasing demand from the aerospace and automotive industries, rising investments in R&D, and the need for high-quality products. Key trends include advanced metallurgy, digitalization of supply chains, development of ceramic bearings, miniaturization, and the launch of sustainable steel materials.
What Key Elements Are Boosting Growth in the Bearing Steel Market?
The growing automotive industry is expected to significantly propel the growth of the bearing steel market. Bearing steel is an essential material used in the automotive sector due to its strength, lightweight nature, and durability. It is used to reduce friction, enhance performance, and increase the lifespan of automotive components. The rise in vehicle sales, as reported by the International Organization of Motor Vehicle Manufacturers, with global passenger vehicle sales reaching 57.48 million in 2022, further underscores the growing demand for bearing steel in the automotive industry.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12882&type=smp
Who Are the Major Industry Players Fueling Bearing Steel Market Expansion?
Major companies operating in the bearing steel market are China Baowu Steel Group Corp. Ltd., Nippon Steel Corporation, Shanghai Xincheng Precision Machinery Co. Ltd., Tata Steel Limited, HBIS Group Co. Ltd., Schaeffler Technologies AG & Co. KG, Kobe Steel Ltd., JTEKT Corporation, MinebeaMitsumi Inc., Nanjing Iron and Steel Co. Ltd., AB SKF, NSK Ltd., NTN Corporation, The Timken Company, Saarstahl AG, Daido Steel Co. Ltd., Wafangdian Guangyang Bearing Group Co. Ltd., Nachi-Fujikoshi Corp., Fushun Special Steel Co. Ltd., National Engineering Industries Ltd., Jiangsu Suzhou Steel Group Co. Ltd., Fujian Longxi Bearing(Group) Corp. Ltd., EZM Edelstahlzieherei Mark GmbH, Luoyang LYC Bearing Co. Ltd., Dongil Industries Co. Ltd., HKT Bearings Limited, RKB Europe SA, Del-Tron Precision Inc., THB Bearings Co. Ltd., Harbin Bearing Manufacturing Co. Ltd.
Which Key Developments Are Influencing the Bearing Steel Market?
Leading firms in the bearing steel market are innovating products, like spindle bearings, to stay competitive. Spindle bearings are designed to support spindle rotation in machinery, providing high precision and load capacity for processes such as milling and grinding. For instance, in September 2023, Schaeffler, a Germany-based bearing technology company, launched its super precision cylindrical roller bearings for high-load applications like machinery spindles. These bearings feature an advanced PEEK cage construction to minimize friction, improving lubrication and reducing operating temperatures. Schaeffler's hybrid versions include ceramic rollers to extend spindle life and improve performance, suitable for precision engineering.
How Is the Segmentation of the Bearing Steel Market Defined?
The bearing steel market covered in this report is segmented -
1) By Product Type: High Carbon Chromium, Carburizing, High Temperature, Other Products
2) By Application: Ball Bearings, Roller Bearings, Thrust Bearings, Plain Bearings, Other Applications
3) By End Use: Automotive, Aerospace, Machinery And Equipment, Energy, Construction, Other End Uses
Subsegments:
1) By High Carbon Chromium: 100Cr6 (AISI 52100), 440C Stainless Steel
2) By Carburizing: 8620 Steel, 9310 Steel
3) By High Temperature: M50 Steel, M42 Steel
4) By Other Products: Stainless Steel Bearings, Alloy Steel Bearings, Ceramic Bearings
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/bearing-steel-global-market-report
What Is the Leading Region in the Bearing Steel Market?
Asia-Pacific was the largest region in the bearing steel market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in bearing steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Bearing Steel Global Market Report?
- Market Size Analysis: Analyze the Bearing Steel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bearing Steel Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bearing Steel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bearing Steel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12882
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
The bearing steel market has seen steady growth, expected to expand from $6.71 billion in 2024 to $6.96 billion in 2025, at a CAGR of 3.8%. Growth factors include industrial sector expansion, rising demand for electric vehicles (EVs), increased usage in mining and construction, infrastructure development, and growing automation trends.
The bearing steel market is expected to see steady growth, reaching $8.15 billion by 2029 with a CAGR of 4.0%. Growth is attributed to increasing demand from the aerospace and automotive industries, rising investments in R&D, and the need for high-quality products. Key trends include advanced metallurgy, digitalization of supply chains, development of ceramic bearings, miniaturization, and the launch of sustainable steel materials.
What Key Elements Are Boosting Growth in the Bearing Steel Market?
The growing automotive industry is expected to significantly propel the growth of the bearing steel market. Bearing steel is an essential material used in the automotive sector due to its strength, lightweight nature, and durability. It is used to reduce friction, enhance performance, and increase the lifespan of automotive components. The rise in vehicle sales, as reported by the International Organization of Motor Vehicle Manufacturers, with global passenger vehicle sales reaching 57.48 million in 2022, further underscores the growing demand for bearing steel in the automotive industry.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12882&type=smp
Who Are the Major Industry Players Fueling Bearing Steel Market Expansion?
Major companies operating in the bearing steel market are China Baowu Steel Group Corp. Ltd., Nippon Steel Corporation, Shanghai Xincheng Precision Machinery Co. Ltd., Tata Steel Limited, HBIS Group Co. Ltd., Schaeffler Technologies AG & Co. KG, Kobe Steel Ltd., JTEKT Corporation, MinebeaMitsumi Inc., Nanjing Iron and Steel Co. Ltd., AB SKF, NSK Ltd., NTN Corporation, The Timken Company, Saarstahl AG, Daido Steel Co. Ltd., Wafangdian Guangyang Bearing Group Co. Ltd., Nachi-Fujikoshi Corp., Fushun Special Steel Co. Ltd., National Engineering Industries Ltd., Jiangsu Suzhou Steel Group Co. Ltd., Fujian Longxi Bearing(Group) Corp. Ltd., EZM Edelstahlzieherei Mark GmbH, Luoyang LYC Bearing Co. Ltd., Dongil Industries Co. Ltd., HKT Bearings Limited, RKB Europe SA, Del-Tron Precision Inc., THB Bearings Co. Ltd., Harbin Bearing Manufacturing Co. Ltd.
Which Key Developments Are Influencing the Bearing Steel Market?
Leading firms in the bearing steel market are innovating products, like spindle bearings, to stay competitive. Spindle bearings are designed to support spindle rotation in machinery, providing high precision and load capacity for processes such as milling and grinding. For instance, in September 2023, Schaeffler, a Germany-based bearing technology company, launched its super precision cylindrical roller bearings for high-load applications like machinery spindles. These bearings feature an advanced PEEK cage construction to minimize friction, improving lubrication and reducing operating temperatures. Schaeffler's hybrid versions include ceramic rollers to extend spindle life and improve performance, suitable for precision engineering.
How Is the Segmentation of the Bearing Steel Market Defined?
The bearing steel market covered in this report is segmented -
1) By Product Type: High Carbon Chromium, Carburizing, High Temperature, Other Products
2) By Application: Ball Bearings, Roller Bearings, Thrust Bearings, Plain Bearings, Other Applications
3) By End Use: Automotive, Aerospace, Machinery And Equipment, Energy, Construction, Other End Uses
Subsegments:
1) By High Carbon Chromium: 100Cr6 (AISI 52100), 440C Stainless Steel
2) By Carburizing: 8620 Steel, 9310 Steel
3) By High Temperature: M50 Steel, M42 Steel
4) By Other Products: Stainless Steel Bearings, Alloy Steel Bearings, Ceramic Bearings
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/bearing-steel-global-market-report
What Is the Leading Region in the Bearing Steel Market?
Asia-Pacific was the largest region in the bearing steel market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in bearing steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Bearing Steel Global Market Report?
- Market Size Analysis: Analyze the Bearing Steel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bearing Steel Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bearing Steel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bearing Steel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12882
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
