Cylindrical Roller Bearing Market Size, Share, and Trends 2024 to 2033

Cylindrical Roller Bearing Market (By Type: Single-row Cylindrical Roller Bearings, Double-row Cylindrical Roller Bearings, Four-row Cylindrical Roller Bearings, Other; By Application: Automotive, Machinery, Other) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033

  • Last Updated : June 2024
  • Report Code : 4519
  • Category : Machinery and Equipment

Cylindrical Roller Bearing Market Size and Forecast

The global cylindrical roller bearing market size was USD 25.83 billion in 2023, calculated at USD 27.51 billion in 2024 and is expected to reach around USD 48.44 billion by 2033, expanding at a CAGR of 6.49% from 2024 to 2033. The demand for precision-engineered parts like cylindrical roller bearings is driven by automation in a variety of industries. In automated industrial processes, where dependability, accuracy, and efficiency are critical, these bearings are indispensable.

Cylindrical Roller Bearing Market Size 2024 to 2033

To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics

Cylindrical Roller Bearing Market Key Takeaways

  • Asia Pacific held the largest share of the cylindrical roller bearing market in 2023.
  • North America is expected to host the fastest-growing market during the forecast period.
  • By type, the single-row cylindrical roller bearings held the largest share in the market in 2023.
  • By type, the four-row cylindrical roller bearings are expected to grow at the fastest rate in the market in the upcoming years.
  • By application, the automotive segment led the market in 2023.
  • By application, the machinery segment is expected to expand rapidly in the market over the projected period.

Market Overview

The market for cylindrical roller bearings was estimated to be worth several billion dollars, and it was predicted to develop at a moderate rate going forward. The expansion was ascribed to rising demand from a number of end-use sectors, including heavy machinery, construction, aerospace, and automotive. Cylindrical roller bearings were becoming more and more necessary as a result of growing industrialization, particularly in emerging nations where heavy machinery and equipment were in high demand.

Cylindrical roller bearings are widely used in the automotive sector, especially for applications involving wheels, engines, and transmissions. Global vehicle production and sales are increasing, and this is driving up demand for bearings. To increase the longevity and performance of cylindrical roller bearings, manufacturers concentrated on developing novel materials, better lubrication methods, and precision engineering. Another factor driving the market's expansion was the requirement for replacements brought on by wear and tear on the gear and equipment already in place.

The market encountered difficulties despite the generally promising outlook, including fierce rivalry, volatile raw material prices, and counterfeit goods that hurt the profitability of legitimate businesses. the existence of important manufacturing centers like Japan, India, and China. The automobile boom, rapid industrialization, and infrastructure development were the main forces behind this region's development.

Cylindrical Roller Bearing Market Growth Factors

  • Growth in the market is aided by expansion in sectors including automotive, aerospace, railway, and machinery, all of which rely significantly on equipment that uses cylindrical roller bearings.
  • Specialized cylindrical roller bearings are becoming more and more in demand as industries seek bearings that can resist greater loads, run at faster speeds, and withstand hostile conditions.
  • Buildings, bridges, railroads, and other infrastructure development projects necessitate large machinery with long-lasting bearings, which propels the cylindrical roller bearing market.
  • Cylindrical roller bearings are widely used in the automobile industry, where demand is driven by rising vehicle production and technical developments in automotive systems.
  • Energy-efficient solutions are gaining traction in industries as a means of cutting costs and mitigating environmental effects. Thus, there is a need for bearings that are more efficient and have less friction.
  • Fast industrializing emerging markets like China, Brazil, and India are adopting more machinery that uses cylindrical roller bearings, which is fueling the expansion of the cylindrical roller bearing market.
  • As sectors work to maximize operational efficiency and reduce downtime, the aftermarket segment—which includes maintenance, repair, and replacement of bearings in existing machinery—contributes significantly to the cylindrical roller bearing market growth.
  • The development of specialized solutions and increased market reach through partnerships between industrial equipment suppliers and bearing manufacturers is a key factor propelling the cylindrical roller bearing market's expansion.

Cylindrical Roller Bearing Market Scope

Report Coverage Details
Market Size by 2033 USD 48.44 Billion
Market Size in 2023 USD 25.83 Billion
Market Size in 2024 USD 27.51 Billion
Market Growth Rate from 2024 to 2033 CAGR of 6.49%
Largest Market Asia Pacific
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Type, Application, and Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Cylindrical Roller Bearing Market Dynamics

Driver

Rising demand for high-speed applications

The cylindrical roller bearing market is witnessing a notable shift in industry demands and technical improvements, as seen by the growing need for high-speed applications. In several industries, including automotive, aircraft, machinery, and industrial equipment, where high-speed operations are becoming more frequent, cylindrical roller bearings are essential components. In order to improve productivity and efficiency, Industry 4.0 practices and the growing automation of various industries necessitate faster machinery and equipment operations.

The need for high-speed machinery and equipment is driven by the continued industrialization of emerging nations and the global expansion of manufacturing. The market for high-speed applications is expanding, especially in the automotive sector, as a result of the rising demand for electric vehicles (EVs) and improvements in vehicle technology.

Restraint

The slowdown in infrastructure development

It is true that a halt in infrastructure development can have an effect on a number of businesses, including the cylindrical roller bearing market. A vital part of many types of industrial equipment, automobiles, and machinery are cylindrical roller bearings. They are essential to the smooth operation and rotation of machinery, as well as its efficiency. Cylindrical roller bearings are frequently used in heavy machinery and equipment used in infrastructure projects.

A deceleration in the advancement of infrastructure may result in a diminished need for said machinery, which in turn may affect the cylindrical roller bearing market. Delivery of cylindrical roller bearings and other components may be delayed as a result of a halt in infrastructure construction, which would have an impact on suppliers and manufacturers.

Opportunity

Renewable energy

Renewable energy sources can be integrated into manufacturing processes by companies operating in the cylindrical roller bearing market. This can involve installing biomass heating and power systems, employing wind turbines to generate energy, or powering their buildings with solar panels. Businesses can choose to use renewable energy-powered electric cars to deliver goods, which will lessen the carbon footprint related to logistics.

There may be an increasing preference for the cylindrical roller bearing market made using renewable energy as consumers' and businesses' concerns about sustainability increase. While switching to renewable energy may require upfront costs, doing so might result in long-term cost benefits due to lower energy costs and possible incentives or tax breaks for adopting renewable energy.

Type Insights

The single-row cylindrical roller bearing segment held the largest share in the cylindrical roller bearing market in 2023. In the market for cylindrical roller bearings, single-row cylindrical roller bearings are quite important. Because of their fast-operating speeds and ability to bear large radial loads, they are crucial parts of many industrial applications, including machinery, automotive, and aerospace. Because of their affordability, dependability, and versatility, single-row bearings are utilized extensively.

In order to satisfy the changing needs of numerous industries, manufacturers constantly innovate to enhance their designs, materials, and manufacturing techniques. Single-row cylindrical roller bearings are crucial parts of the cylindrical roller bearing industry. They guarantee smooth operation, support a variety of industrial applications, and improve the overall performance and dependability of machinery.

The four-row cylindrical roller bearings segment is expected to grow at the fastest rate in the cylindrical roller bearing market in the upcoming years. A frequent form of roller bearing in heavy-duty industrial applications with strong radial loads and moderate axial loads is the four-row cylindrical roller bearing. These bearings have a radial arrangement of four rows of cylindrical rollers that provide them exceptional rigidity and load-carrying capacity.

Mining and the steel industry are two examples of industries that need heavy machinery that can work in harsh environments. For these kinds of applications, four-row cylindrical roller bearings offer the required dependability and load support. The requirement for high-performance bearings that can handle severe loads and continuous operation is expanding as industrial automation increases.

Application Insights

The automotive segment led the cylindrical roller bearing market in 2023. In the automotive industry, the market for cylindrical roller bearings is an essential component sector. In many automotive applications, such as transmissions, wheel hubs, and engine components, cylindrical roller bearings are essential. These bearings improve the overall performance and efficiency of vehicles by facilitating smooth rotation and lowering friction. Automakers are always working to decrease pollutants and increase the fuel economy of their cars. By reducing frictional losses in crucial parts like wheel assemblies and transmissions, cylindrical roller bearings help to achieve these objectives. There are more applications for cylindrical roller bearings as electric vehicles become more popular. High-performance bearings are necessary for EVs in order to support electric drivetrains and guarantee the efficient operation of parts like electric motors and powertrains.

The machinery segment is expected to expand rapidly in the cylindrical roller bearing market over the projected period. Computer numerical control (CNC) equipment is required to make cylindrical roller bearings precisely. High-precision machining centers and CNC lathes are used to shape the bearing components. Improving the mechanical characteristics of bearing components, namely their toughness and hardness, requires heat treatment. Case hardening, tempering, and quenching are among the procedures carried out in furnaces.

Bearing component design, machining instruction generation, and manufacturing process optimization are all accomplished with the use of computer-aided design (CAD) and computer-aided manufacturing (CAM) software. In order to minimize wear and friction in bearings, lubrication is essential. Oil baths, grease dispensers, and automated lubrication systems are examples of lubricant application machinery that is essential to the production process.

Regional Insights

Asia Pacific held the largest share of the cylindrical roller bearing market in 2023. The region's market has been expanding significantly as a result of a number of factors, including the industrialization, urbanization, and infrastructural development of nations like China, India, Japan, and South Korea. Numerous industries, including the automotive, manufacturing, construction, and mining sectors, use these bearings extensively.

One of the major global industrial hubs, China, has a major impact on the expansion of the cylindrical roller bearing market in Asia Pacific. China's automotive industry and other sectors have seen tremendous growth, which has raised demand for cylindrical roller bearings. The region's growing use of machinery and automation in a variety of industries has increased demand for cylindrical roller bearings.

North America is expected to host the fastest-growing cylindrical roller bearing market during the forecast period. Numerous variables, such as industrial expansion, technical advancements, and demand from a variety of industries, including the automotive, aerospace, and machinery manufacturing sectors, have an impact on the cylindrical roller bearing market in North America. Due to their large radial load capacity and comparatively low friction, these bearings are crucial parts of many different applications.

Some of the major participants in the cylindrical roller bearing market in North America include SKF, Timken Company, NSK Ltd., NTN Corporation, and Schaeffler AG. These businesses compete on the basis of things like product quality, cost, and distribution channels, which influence innovation and market dynamics.

Cylindrical Roller Bearing Companies

Cylindrical Roller Bearing Market Companies

Recent Developments

  • In November 2023, The VT850 is a 2-axis vertical turning lathe from Kennametal India Limited's WIDMA Machining Solutions Group that is intended to machine large components with accuracy and great productivity. Director of Machining Solutions Group for APAC Rajashekar Venkat said that this introduction improves the portfolio of standard products, influencing client turnaround times and guaranteeing consistent performance.
  • In September 2023, the new 2024 BMW R 1300 GS was proudly introduced by BMW Motorrad. With the R 80 G/S, BMW Motorrad created a new market niche for touring enduros more than 43 years ago. Since then, the boxer BMW GS has remained the clear front-runner in the competitive field.

Segment Covered in the Report

By Type

  • Single-row Cylindrical Roller Bearings
  • Double-row Cylindrical Roller Bearings
  • Four-row Cylindrical Roller Bearings
  • Other

By Application

  • Automotive
  • Machinery
  • Other

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Frequently Asked Questions

The global cylindrical roller bearing market size is expected to increase USD 48.44 billion by 2033 from USD 25.83 billion in 2023.

The cylindrical roller bearing market is anticipated to grow at a CAGR of over 6.49% between 2024 and 2033

The major players operating in the cylindrical roller bearing market are JTEKT India Limited., MBP Bearings Ltd., Menon Bearings Ltd., National Engineering Industries Ltd (NEI), NRB Bearings Limited., NTN Corporation., Schaeffler India Limited., SKF., and Others.

The driving factors of the cylindrical roller bearing market are the rising demand for high-speed applications and rising demand for electric vehicles.

Asia Pacific region will lead the global cylindrical roller bearing market during the forecast period 2024 to 2033.

Proceed To Buy

USD 5400
USD 3800
USD 2100
USD 2100
USD 7500

Ask For Sample

No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client