[222 Pages Report] The global plain bearing market size is estimated at USD 10.0 billion in 2021 and is projected to reach USD 13.0 billion by 2026, at a CAGR of 5.2% between 2021 and 2026. The market is propelled by the growth of various end-use industries. Increasing investments in infrastructure, new industrial projects, and the development of heavy machinery in China, India, the US, Germany, and Brazil have also boosted market growth.

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COVID-19 Impact on the Global Plain Bearing Market

The pandemic is estimated to have huge impact on various factors of the value chain of plain bearings, which is expected to reflect during the forecast period, especially in the year 2021. The various impact of COVID-19 are as follows:

• Impact on plain bearing market: The COVID-19 pandemic had a slight impact on the plain bearing market. Plain bearings have significant potential in the automotive, aerospace, energy, and construction industries. The impact of COVID-19 was higher on the market for larger bearings and lower for smaller bearings since production and sales in discrete industries such as cement, mining, etc. were slow largely due to lockdowns around the world.
• Impact on plain bearing manufacturers: The impact of COVID-19 outbreak resulted in the majority of manufacturing plants of plain bearings have either been closed or are operating with limited capacity.
• Impact on end-use industries: The highest affected end-use industry by COVID-19 is aerospace. Suspension of air travel across various geographies due to the COVID-19 pandemic severely impacted airliners. Mass grounding of aircraft fleets and lack of new major purchase orders and deliveries have impacted the businesses of aircraft OEMs. The aircraft leasing company, AeroCentury Corp. filed for bankruptcy in March 2021 as the demand for leasing for domestic and foreign carriers declined during the pandemic.

Plain Bearings Market Dynamics

Driver: Increasing demand for plain bearings from end-use industries

The plain bearing market majorly depends upon end-use industries such as automotive, aerospace, energy, construction machinery, oilfield machinery, agriculture, gardening equipment, and office products for growth. The latest International Monetary Fund (IMF) reports suggests that the Asia Pacific region remains the engine of global growth and grew at a rate of 5.3% before the COVID-19 pandemic. Increasing population, rapid urbanization, and rising income of the middle class in the Asia Pacific region are factors fueling the growth of the automotive, agriculture, gardening, construction, and office products industries in China, India, and Japan.

Restraint: Volatility in raw material prices

The price volatility of raw materials is one of the main restraints for the growth of the global plain bearing market. The major raw materials essential for the production of plain bearings are different metals such as steel, tin-based alloys, chrome steel, and engineering plastics. Extreme fluctuations have been observed in the prices of the different metals and crude oil in the global market. This directly affects the production of plain bearings, thus impacting the overall growth of the market.

Opportunities: Growth prospects in emerging economies

At present, major plain bearing material manufacturers in North America and Europe follow strict government rules and regulations. However, emerging regions have fewer or no rules in the industry, although there are several regulations regarding the use of environment-friendly and hygienic plain bearing products. As a result, emerging markets in the Middle East & Africa and Asia Pacific offer opportunities for manufacturers of plain bearings. The high growth potential in the emerging regions can be attributed to the strong performance of end-use industries such as automotive, aerospace, energy, agriculture, construction, mining, and oil & gas.

Challenges: Increasing number of counterfeit bearings

Counterfeit bearings are a major concern all over the world. The production and distribution of fake bearings routinely victimize both, the end user and OEM and can significantly jeopardize safety. This dangerous, illegal, and highly unethical practice is prevalent and occurs in every market segment. According to the World Bearing Association (WBA), most of the customs seizures coming into Europe and the US originate from China. According to a study published by the International Chamber of Commerce (ICC), the annual economic and social costs resulting from counterfeit bearings amounts to USD 1.7 billion worldwide.

Several cases related to counterfeit bearing products have been registered in recent years. The manufacture and trade of counterfeit products, which increasingly affects all brands and markets, is a growing global concern. For instance, over the past few years, the SKF Group has been carrying out several operations against counterfeit products in countries such as Germany, Italy, Holland, Greece, Sweden, China, and the US, seizing hundreds of tons of counterfeit bearings. Recently, in Spain, police authorities have confiscated 15 tons counterfeit bearings. Counterfeit bearings of NSK packaging and labels were seized in Hebei Province, China. More than 23,000 fake boxes and cartons which were confiscated pending further investigation and potential prosecution were discovered in Linxi County, Xintai City.

Plain bearing market Ecosystem

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Based on end-use industry, automotive accounted for the largest market share in 2020

The automobile end-use industry segment accounted for the largest share of the global plain bearing market in 2020. This is mainly attributed to the increasing demand for plain bearings in the automobile industry. Plain bearings are used in the automobile industry for manufacturing variable intake systems, center armrests, belt tensioners, stub axels, gear actuators, convertible top systems, pedal systems, seating systems, steering systems, throttle valves, and door hinges, among others.

Based on type, journal plain bearing accounted for the largest market share in 2020

The journal type segment contributed the largest share to the global plain bearing market in 2020; This is mainly attributed to the increasing demand for journal bearings from varied end-use industries such as automobile, aerospace, construction machinery, and energy. In addition, journal bearings have properties such as excellent strength and shock resistance. There is no rolling element in these bearings. These bearings work efficiently in heavily loaded systems, wherein sufficient clearance and lubrication is provided

Asia Pacific accounted for the largest share of the plain bearing market in 2020

The Asia-Pacific region led the global plain bearing market in 2020, owing to the rise in demand for plain bearings from varied end-use industries such as automobile, aerospace, construction, and energy in this region. China, India, and Japan are leading countries in terms of production and consumption of plain bearings in the Asia-Pacific region. Asia Pacific is a rapidly developing region that offers many opportunities for the industry players. Most of the leading players of North America and Europe are planning to move their production base to this region because of the availability of inexpensive raw materials, low production costs, and the need to better serve the local market.

Key Market Players

NTN Corporation (Japan), SKF Group (Sweden), Schaeffler Group (Germany), Timken Company (US), THK Co., Ltd. (Japan), NSK Ltd. (Japan), MinebeaMitsumi Inc. (Japan), RBC Bearings Incorporated (US), and SGL Carbon (Germany), ElringKlinger AG (Germany), GGB (France), igus (Germany), Kashima Bearings, Inc (Japan), Boston Gear LLC (US), Thomson Industries, Inc. (US), ZOLLERN GmbH & Co. KG (Germany), PBC Linear (US), GGT Gleitlager AG (Switzerland), Midwest Control Products Corp. (US), Accurate Bushing Company (US), AEC (India), Chiavette Unificate S.p.A. (Italy), HepcoMotion (UK), Alloy Bearings (New Zealand), and Kingsbury, Inc. (US) are among the key players leading the market.

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Scope of the Report

Report Metric	Details
Market Size Available for Years	2016–2026
Base Year Considered	2020
Forecast Period	2021–2026
Forecast Units	Value (USD Million)
Segments Covered	Type and End-use industry
Geographies Covered	North America, Asia Pacific, Europe, Middle East & Africa, and South America
Companies Covered	NTN Corporation (Japan), SKF Group (Sweden), Schaeffler Group (Germany), Timken Company (US), THK Co., Ltd. (Japan), NSK Ltd. (Japan), MinebeaMitsumi Inc. (Japan), RBC Bearings Incorporated (US), and SGL Carbon (Germany), ElringKlinger AG (Germany), GGB (France), igus (Germany), Kashima Bearings, Inc (Japan), Boston Gear LLC (US), Thomson Industries, Inc. (US), ZOLLERN GmbH & Co. KG (Germany), PBC Linear (US), GGT Gleitlager AG (Switzerland), Midwest Control Products Corp. (US), Accurate Bushing Company (US), AEC (India), Chiavette Unificate S.p.A. (Italy), HepcoMotion (UK), Alloy Bearings (New Zealand), and Kingsbury, Inc. (US)

This research report categorizes the plain bearing market based on type, end-use industry and region and forecasts revenues as well as analyzes trends in each of these submarkets.

Based on Type, the plain bearing market has been segmented into:

• Journal
• Linear
• Thrust
• Angular Contact
• Others

Based on End-use Industry, the plain bearing market has been segmented into:

• Automotive
• Industrial
• Aerospace
• Energy
• Construction Machinery
• Agriculture & Gardening Equipment
• Oilfield Machinery
• Office Products
• Others

Based on Region, the plain bearing market has been segmented into:

• Asia-Pacific
• Europe
• North America
• Middle East & Africa
• South America

Recent Developments

• In March 2021, SKF Group,  invested USD 44.3 million in expanding and modernizing its manufacturing facility in Airasca, Italy. The investment is expected to bring the manufacture of super-precision bearings for industrial applications to the Group's largest manufacturing site in Italy.
• In December 2020, Timken Company, acquired the assets of Aurora Bearing Company. Aurora Bearing Company manufactures rod ends and spherical plain bearings which serve a diverse range of industrial sectors including aerospace and defense, racing, off-highway equipment, and packaging.
• In August 2020, NTN Corporation, started its first overseas mass-production of precision bearings for machine tools at NTN Mettmann (Deutschland) GmbH, a subsidiary of the manufacturing company, NTN Kugellagerfabrik (Deutschland) GmbH in Germany.