Plain Bearings Market Drivers and Forecasts by 2031

The plain bearings market size is projected to reach US$ 14.56 billion by 2031 from US$ 9.54 billion in 2023. The market is expected to register a CAGR of 5.4% during 2023–2031. The emergence of innovative eco-friendly plain bearings is likely to bring in new trends in the market.

Plain Bearings Market Analysis

Plain bearings are chosen for high-load and low-speed applications in various industries, including automotive, power tools, and domestic appliances. Plain bearings are utilized in the assembly of engine compartments, wheel suspensions, vehicle steering systems, brakes, pedals, pumps, and seats. Increasing automotive sales and production across the globe drives the global plain bearings market in tandem.

Further, plain bearings are widely used in the manufacturing of railways and metros to offer linear motion. Increasing investments in the railway sector by several governments across the world will promote the plain bearings market growth during the forecast period. According to the India Brand Equity Foundation Organization, the Indian Railways revenue reached US$ 28.75 billion in 2024. Also, during 2023–2024, the Indian government Union Budget allocated a capital of US$ 29 billion for the railway projects.

Plain Bearings Market Overview

Plain bearings have several applications in automotive, transportation, manufacturing, construction, energy, oil & gas, agriculture, aerospace & defense, and mining facilities. They are also utilized in power and oil production plants. With substantial government investments being made in the automotive and construction sectors due to growing urbanization, the demand for plain bearings will continue to experience an upward thrust.

Several private and public authorities are currently making substantial investments in construction, agriculture, power, and gas industries, with many planned projects in the development stages. Furthermore, the agriculture sector is witnessing massive growth with the introduction of smart and precision farming. The sector will continue to flourish due to government initiatives and funding for smart farming technologies. The plain bearings market outlook continues to be positive, as it is well-positioned to serve the growing requirements of end-user industries such as construction, aerospace & defense, oil & gas, agriculture, and manufacturing.

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Plain Bearings Market: Strategic Insights

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Plain Bearings Market Drivers and Opportunities

Growing Need of Plain Bearings in Several Industrial Applications

Plain bearings are chosen for high-load and low-speed applications in various industrial applications, including automotive, power tools, and domestic appliances. In automobiles, plain bearings provide automotive support and guide moving components of the engine. They are used in the assembly of engine compartments, wheel suspensions, vehicle steering systems, brakes, pedals, pumps, and seats. Increasing automotive sales and production across the globe drives the global plain-bearing market. According to the International Organization of Motor Vehicle Manufacturers, global automotive production reached 93.5 million units in 2023, up by 10% compared to 2022. Plain bearings comprise bearing shells that are locked in place in the bearing seat. Plain bearings are used in higher precision, lower weight applications where there is the presence of less moving parts of industrial vehicles such as excavators, tractors, dump trucks, and various cultivation and tillage construction machines. The plain bearings are cost-effective, easy to assemble and simpler in structure.

Further, plain bearing is widely used in the manufacturing of packaging machines that drives the market growth. The global packaging industry revenue was around US$ 1,113.39 billion in 2023, with packaging machinery sales around US$ 27.45 billion in 2023, recording a CAGR of 4.8% during the forecast period 2023–2031. Packaging growth is typically higher in countries such as India, China, the US, Mexico, and Germany. Furthermore, plain bearings are widely used in power tools such as pneumatic fasteners, wrenches and drills, drivers, saws, guns, and masonry anchors.

Increasing Investments in Infrastructure Development Projects in Energy & Power Sector

Plain bearings are used in infrastructure developments such as dams, rolling stock, water gates, hydropower, and wind power projects. A wind turbine consists of several bearings, including plain bearings, that provide relative movement between several adjacent parts. Plain bearing offers a low-friction manner and offer higher efficiency. According to the International Energy Agency Report in 2023, nearly US$ 2.8 trillion was invested in the energy sector in 2023. Of these, over US$ 1.7 trillion was invested in clean energy development projects, including renewable power, wind energy, grids, storage management, low-emission fuels, and efficiency improvements for electrification. Such rising investment in the energy sector across the world can create lucrative opportunities for the plain-bearing market growth during the forecast period.

Following Chart Shows Annual Clean Energy Investment by Major Countries:

Plain Bearings Market Report Segmentation Analysis

Key segments that contributed to the derivation of the plain bearings market analysis are product type and application.

• Based on product type, the global plain bearings market is segmented into spherical bearings, rod ends, bushings. The spherical bearings segment held the largest market share in 2023.
• Based on application, the market is divided into agriculture, construction, industrial vehicles, automotive and transportation, aerospace and defense, energy and power, others. The automotive and transportation segment held the largest share of the market in 2023.

Plain Bearings Market Share Analysis by Geography

The geographic scope of the plain bearings market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The US, Canada, and Mexico are the major nations contributing to the growth of the plain bearings market in North America. Mounting construction activities and industrialization across the region boosts the market growth substantially. Surging building and construction investments, including government funding toward infrastructure developments, are driving the demand for industrial vehicles, which fuels the application of plain bearings in the region. In August 2021, the US Ministry of Transportation and Infrastructure invested ~US$ 837.0 million for the highway expansion project between Western Canada in Alberta and British Columbia. This project includes the construction of bridges and the expansion of two-lane highways to four-lane highways. Such infrastructure development projects require various industrial vehicles and equipment, including forklifts, cranes, road rollers, and dump trucks. Thus, infrastructure development is expanding with a rise in construction projects across different countries in North America, which drives the plain bearings market.

In 2023, the Bipartisan Infrastructure Law by the Federal Transit Administration funded over US$ 300 billion for projects meant to rebuild and repair roads and bridges in the US. In addition, in 2023, it provided financial aid of US$ 25 billion to renovate and upgrade airports, and US$ 17 billion to improve US ports and waterways. Thus, the burgeoning government focus on infrastructure development is anticipated to favor the growth of the plain bearings market in the US. Aerospace & defense is one of the most notable end users of plain bearings in the US. The US handles more than 59,000 tons of cargo sent and received worldwide. The increasing number of aircraft in the US military and commercial sectors is a significant factor driving the plain bearings market, as companies deploy advanced aircraft components integrated with plain bearings to ensure smooth operations.

RBC Bearings Incorporated, Bailey International LLC., The Timken Company, and AST Bearings are among the leading plain bearings manufacturers operating in North America. The Timken Company offers Poly-Round bearings fabricated from high-performance bearing-grade polymer materials or specialty metal alloys. AST Bearings offers Spherical Plain Bearings, which are appropriate for heavy-duty, off-highway vehicles; construction, mining, and logging equipment; agricultural equipment; packaging and textile equipment; and robotics products.

Plain Bearings Market Regional Insights

The regional trends and factors influencing the Plain Bearings Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Plain Bearings Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Plain Bearings Market Report Scope

Plain Bearings Market Players Density: Understanding Its Impact on Business Dynamics

The Plain Bearings Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Plain Bearings Market News and Recent Developments

The plain bearings market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the plain bearings market are listed below:

The Timken Company, a global leader in engineered bearings and industrial motion products, has reached an agreement to acquire Engineered Solutions Group (a.k.a. Innovative Mechanical Solutions or iMECH), based in Houston, Texas. iMECH manufactures thrust bearings, radial bearings, specialty coatings and other components primarily used in the energy industry. The business employs approximately 70 people and projects revenue of approximately US$30 million for calendar year 2023. (Source: The Timken Company, Press Release, October 2023)

Plain Bearings Market Report Coverage and Deliverables

The "Plain Bearings Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Plain bearings market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Plain bearings market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Plain bearings market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the plain bearings market
• Detailed company profiles