SKF Group (Sweden) and Timken Company (US) are the Key Players in the Plain Bearing Market
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.
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 through their innovative offerings, enhanced production capacities, and efficient distribution channels.
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The key players operational in the plain bearing market are focusing on new product launches, , expansions and acquisitions to cater to the increasing demands across various industries. These companies are also investing in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the plain bearing market.
SKF Group, in March 2021, 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 Groups largest manufacturing site in Italy.
Timken Company, in December 2020, 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.
NTN Corporation, in August 2020, 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.
Related Reports:
Plain Bearing Market by Type, End-Use Industry (Automotive, Industrial, Aerospace, Energy, Construction Machinery, Agricultural & Gardening Equipment, Oilfield Machinery, Office Products) and Region - Global Forecast to 2026
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