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Analysis and forecast of bearing market in 2025
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From 2020 to 2025, the global bearing market is expected to reach $ 50 billion, with a compound annual growth rate of 3.5% over the forecast period.
Fortune and Insight Magazine said in a report entitled "Bearing Market Size, Share, and Industry Analysis" that the growing demand for bearings in more and more applications is a crucial factor driving the growth of the bearing market. The global bearing market is worth USD 39.46 billion in 2019 and is expected to reach USD 50 billion by 2025, with a CAGR of 3.5% over the forecast period.
The report also compiled market statistics of the world's nine major bearing brands, including FAG bearings, TIMKEN bearings, IKO bearings, KOYO bearings, NSK bearings, INA bearings, SKF bearings, NACHI bearings, and NTN bearings. The report analyzes the types, application industries, market size, and share of these well-known brands. And predicted that the automotive, industrial machinery, aerospace, and other sectors would be the main direction of the bearing market growth. It also discussed in depth the latest innovations and advancements in the bearing market. According to the report, the bearing market is segmented into automotive, industrial machinery, aerospace, and others based on usage. Due to the expansion of the automotive industry, the automotive sector is expected to occupy the largest share. Increasing emphasis on reducing product weight will further promote growth in this area.
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