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PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339152
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339152
Bearing Steel Market Share, Size, Trends, Industry Analysis Report, By Type (Carbon Steel, Stainless Steel); By End Use; By Region; Segment Forecast, 2023 - 2032
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PAGES: 114 Pages
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The global bearing steel market size is expected to reach USD 2,427.80 million by 2032, according to a new study by Polaris Market Research. The report "Bearing Steel Market Share, Size, Trends, Industry Analysis Report, By Type (Carbon Steel, Stainless Steel); By End Use Industry; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing focus on achieving a net-zero scenario drives governments worldwide to invest in renewable energy sources such as wind. As more wind turbines are installed to meet the demand for renewable energy, the growth of the wind energy sector is expected to drive the development of the bearing steel market.
Wind turbines are complex machines with several critical components, including the gearbox, generator, and rotor. These components require bearings to ensure smooth operation, and the bearings used in wind turbines must withstand harsh operating conditions, including high winds and extreme temperatures. The increasing demand for wind energy is expected to drive the growth of the bearing steel market in the coming years.
Growing electric vehicle (EV) sales are fuelling the growth of the bearing steel market in several ways. As EVs use many bearings in various components such as motors, transmissions, and wheels, which is driving the demand for high-quality bearings made of bearing steel. As per the statistics published by the IEA's annual Global EV Outlook, in 2022, nearly 10 Mn EVs were sold globally. This year, sales are projected to increase by another 35% to 14 Mn. As the number of EVs on the road increases, the demand for aftermarket bearings is also growing. This is driving the development of new and innovative bearing steel alloys that can meet the needs of the aftermarket, which is fuelling the growth of the market.
Bearing Steel Market Report Highlights
Stainless steel segment is anticipated to grow at a faster rate owing to the superior properties of stainless steel making it a preferred choice for bearing applications, and its increasing demand in various end-use industries.
Automotive segment accounted for the largest market share owing to the increasing focus on light-weight EVs and fuel efficiency.
APAC is projected to experience larger revenue share and higher growth rate due to the favorable economic and industrial development and growing focus on renewable energy.
Europe is projected to register the second largest growth rate owing to the favorable industrial and economic development & increasing investments in renewable energy.
The global players include: AB SKF, Sanyo Special Steel, Timken Company, Schaeffler Group, Suzhou Steel, Dongil Industries, Kobe Steel, & Benxi Iron and Steel
Polaris Market Research has segmented the bearing steel market report based on type, end use industry and region:
Bearing Steel, Type Outlook (Revenue - USD Million, 2019 - 2032)
- Carbon Steel
- Stainless Steel
Bearing Steel, End Use Industry Outlook (Revenue - USD Million, 2019 - 2032)
- Energy & Power
- Industrial Machinery
- Automotive
- Electrical & Electronics
- Aerospace
Bearing Steel, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Product Code: PM3532
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Bearing Steel Market Insights
- 4.1. Bearing Steel Market - Industry Snapshot
- 4.2. Bearing Steel Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing Demand for Bearings from Automotive Industry
- 4.2.1.2. Development of durable and smart Bearings
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Surge in Demand For High-Efficiency Bearings
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Bearing Steel Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Bearing Steel Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Bearing Steel, by Type, 2019-2032 (USD Million)
- 5.3. Carbon Steel
- 5.3.1. Global Bearing Steel Market, by Carbon Steel, by Region, 2019-2032 (USD Million)
- 5.4. Stainless Steel
- 5.4.1. Global Bearing Steel Market, by Stainless Steel, by Region, 2019-2032 (USD Million)
6. Global Bearing Steel Market, by End Use Industry
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 6.3. Energy & Power
- 6.3.1. Global Bearing Steel Market, by Energy & Power, by Region, 2019-2032 (USD Million)
- 6.4. Industrial Machinery
- 6.4.1. Global Bearing Steel Market, by Industrial Machinery, by Region, 2019-2032 (USD Million)
- 6.5.Automotive
- 6.5.1. Global Bearing Steel Market, by Automotive, by Region, 2019-2032 (USD Million)
- 6.6. Electrical & Electronics
- 6.6.1. Global Bearing Steel Market, by Electrical & Electronics, by Region, 2019-2032 (USD Million)
- 6.7. Aerospace
- 6.7.1. Global Bearing Steel Market, by Aerospace, by Region, 2019-2032 (USD Million)
7. Global Bearing Steel Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Bearing Steel Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3. Bearing Steel Market - North America
- 7.3.1. North America: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.3.2. North America: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.3.3. Bearing Steel Market - U.S.
- 7.3.3.1. U.S.: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.3.3.2. U.S.: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.3.4. Bearing Steel Market - Canada
- 7.3.4.1. Canada: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.3.4.2. Canada: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4. Bearing Steel Market - Europe
- 7.4.1. Europe: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.2. Europe: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.3. Bearing Steel Market - UK
- 7.4.3.1. UK: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.3.2. UK: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.4. Bearing Steel Market - France
- 7.4.4.1. France: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.4.2. France: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.5. Bearing Steel Market - Germany
- 7.4.5.1. Germany: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.5.2. Germany: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.6. Bearing Steel Market - Italy
- 7.4.6.1. Italy: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.6.2. Italy: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.7. Bearing Steel Market - Spain
- 7.4.7.1. Spain: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.7.2. Spain: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.8. Bearing Steel Market - Netherlands
- 7.4.8.1. Netherlands: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.8.2. Netherlands: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.4.9. Bearing Steel Market - Russia
- 7.4.9.1. Russia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.4.9.2. Russia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5. Bearing Steel Market - Asia Pacific
- 7.5.1. Asia Pacific: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.2. Asia Pacific: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5.3. Bearing Steel Market - China
- 7.5.3.1. China: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.3.2. China: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5.4. Bearing Steel Market - India
- 7.5.4.1. India: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.4.2. India: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5.5. Bearing Steel Market - Malaysia
- 7.5.5.1. Malaysia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.5.2. Malaysia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5.6. Bearing Steel Market - Japan
- 7.5.6.1. Japan: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.6.2. Japan: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5.7. Bearing Steel Market - Indonesia
- 7.5.7.1. Indonesia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.7.2. Indonesia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.5.8. Bearing Steel Market - South Korea
- 7.5.8.1. South Korea: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.5.8.2. South Korea: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.6. Bearing Steel Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.6.2. Middle East & Africa: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.6.3. Bearing Steel Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.6.3.2. Saudi Arabia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.6.4. Bearing Steel Market - UAE
- 7.6.4.1. UAE: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.6.4.2. UAE: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.6.5. Bearing Steel Market - Israel
- 7.6.5.1. Israel: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.6.5.2. Israel: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.6.6. Bearing Steel Market - South Africa
- 7.6.6.1. South Africa: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.6.6.2. South Africa: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.7. Bearing Steel Market - Latin America
- 7.7.1. Latin America: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.7.2. Latin America: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.7.3. Bearing Steel Market - Mexico
- 7.7.3.1. Mexico: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.7.3.2. Mexico: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.7.4. Bearing Steel Market - Brazil
- 7.7.4.1. Brazil: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.7.4.2. Brazil: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- 7.7.5. Bearing Steel Market - Argentina
- 7.7.5.1. Argentina: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- 7.7.5.2. Argentina: Bearing Steel Market, by Type, 2019-2032 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. AB SKF
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Sanyo Special Steel
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Timken Company
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Schaeffler Group
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. ZWZ Bearing
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Baosteel
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7.Cartech
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Dongbei Special Steel
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Aichi Steel
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10.Suzhou Steel
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Dongil Industries
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Kobe Steel
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Benxi Iron and Steel
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
Product Code: PM3532
List of Tables
- Table 1 Global Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 2 Global Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 3 Bearing Steel Market Assessment, By Geography, 2019-2032 (USD Million)
- Table 4 North America: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 5 North America: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 6 U.S.: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 7 U.S.: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 8 Canada: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 9 Canada: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 10 Europe: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 11 Europe: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 12 UK: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 13 UK: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 14 France: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 15 France: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 16 Germany: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 17 Germany: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 18 Italy: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 19 Italy: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 20 Spain: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 21 Spain: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 22 Netherlands: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 23 Netherlands: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 24 Russia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 25 Russia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 26 Asia Pacific: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 27 Asia Pacific: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 28 China: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 29 China: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 30 India: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 31 India: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 32 Malaysia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 33 Malaysia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 34 Japan: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 35 Japan: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 36 Indonesia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 37 Indonesia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 38 South Korea: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 39 South Korea: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 40 Middle East & Africa: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 41 Middle East & Africa: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 42 Saudi Arabia: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 43 Saudi Arabia: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 44 UAE: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 45 UAE: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 46 Israel: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 47 Israel: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 48 South Africa: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 49 South Africa: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 50 Latin America: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 51 Latin America: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 52 Mexico: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 53 Mexico: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 54 Brazil: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 55 Brazil: Bearing Steel Market, by Type, 2019-2032 (USD Million)
- Table 56 Argentina: Bearing Steel Market, by End Use Industry, 2019-2032 (USD Million)
- Table 57 Argentina: Bearing Steel Market, by Type, 2019-2032 (USD Million)
List of Figures
- Figure 1 Global Bearing Steel Market, 2019-2032 (USD Million)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by End Use Industry
- Figure 7 Global Bearing Steel Market, by End Use Industry, 2022 & 2032 (USD Million)
- Figure 8 Market by Type
- Figure 9 Global Bearing Steel Market, by Type, 2022 & 2032 (USD Million)
- Figure 10 Bearing Steel Market Assessment, By Geography, 2019-2032 (USD Million)
- Figure 11 Strategic Analysis - Bearing Steel Market
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