Low-Noise Bearings Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type (Ball Bearings, Roller Bearings, Plain Bearings, and Others); Material (Metal, Ceramic, Plastic, and Others); Application (Automotive, Industrial Machinery, Aerospace, Electronics, and Others); Distribution Channel (OEM and Aftermarket); and Region/Country
Low-Noise Bearings Market Size & Forecast
The Low Noise Bearing Market was valued at USD 3.36 billion in 2023 and is expected to grow at a steady CAGR of around 5.75% during the forecast period (2024-2032). The increased demand in the automotive and aerospace industries and advancement in industrial automation are driving the demand for low-noise bearings.
Low-Noise Bearings Market Analysis
The Low-Noise Bearings Market is witnessing a steady growth rate within the forecast period. The market has seen sudden growth due to varied demands for quiet bearings across automotive, aerospace, and industrial machinery. Machinery and vehicles function quietly due to the away-from-noise generation, which stimulates an important contribution to growth. Low-noise bearings help primarily in vibration and noise control and are greatly valued in very high-end applications such as electric vehicles and medical devices. Companies' focus is also geared towards customized solutions for specific industry requirements, for instance, food & beverage-where bearings need to endure harsh cleaning agents and remain low noise. The ability to deliver a customized variance has become another competitive strategy manufacturers are adopting today to strengthen their market presence and meet the ever-increasing stringent demands of various industries.
Low-Noise Bearings Market Trends
Integration of Sensors and IoT
The sensor-integration with IoT technologies is one of the few key trends that is changing the low-noise bearings market. By incorporating sensors in bearings, manufacturers monitor real-time data on the performance, temperature, vibration, and load of these bearings. Such integration helps in predictive maintenance to increase bearing life and boost the overall performance of machines. For example, SKF has developed the SKF Insight remote monitoring, which uses sensors to gather data on bearing health and performance, easily accessed in real time for predicting potential failures, thus reducing maintenance costs and improving operational efficiency. For instance, in January 2023, NSXe Co. LTD., a Japan-based company providing services for mechanical equipment installation and maintenance, newly released a Wi-Fi vibration sensor, “conanair,” in the U.S. market.
Asia Pacific primed to Dominate the Low-Noise Bearings Market
The Asia-Pacific low-noise bearings market is expected to dominate in the forecast period. The region has extensive manufacturing industries, primarily in automotive, electronics, and machinery. The prime example is China and India, which mainly depend on the automotive sector and high volumes of low-noise bearings to improve the performance of vehicles and reduce noise. The rapid urbanization in the region and, subsequently, major developments of infrastructure have further accelerated the growth of the market. Projects such as the construction of metros, highways, and skyscrapers require advanced machinery with low noise bearings not only for operational efficiency but also for safety. An important aspect of the bearings is used in construction equipment in congested urban areas where noise reduction is an essential requirement. Countries like China, India, and Japan are investing in renewable energy projects such as wind and solar farms, where low-noise bearings are essential for the maintenance and operations of wind turbines and solar tracking systems. These bearings ensure the longevity and safety of such projects and optimize their efficiency. Furthermore, governments in the region are focusing on their economy and trying to make a production-based economy. To boost their manufacturing sectors, many governments in the region have introduced campaigns, such as the "Make in India" initiated by India and "Made in China 2025" in China. Such campaigns often come with subsidies and incentives for adopting newer manufacturing technologies, such as low-noise bearings under precision engineering components.
Low-Noise Bearings Industry Overview
The low-noise bearings market is competitive and concentrated, with few global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some major players operating in the market are SKF Group, Italcuscinetti S.p.A. a Socio Unico, ROLLAX GmbH & Co. KG, The Timken Company, WINKEL GmbH, NSK Ltd., TFL Bearing, Luoyang LZJM Precision Bearing Co., Ltd., Shenzhen Youmeite Bearings Co., Ltd, and Schaeffler AG.
Low-Noise Bearings Market News
In 2023, NBC Bearings, which is part of the CK Birla Group based in India, specialized in developing bearings and other automotive components and has developed a wide range of low-noise bearings for the EV industry. These bearings are suitable for EV drivetrains and are suitable for applications in the wheel hub, steering, and motor of an electric vehicle.
In May 2024, NTN Corporation developed a large-diameter deep groove ball bearing for the coaxial e-Axle, a significant driving component in electric vehicles (EVs). These bearings operate for high-speed rotation, with a dmn value of 1.5 million, enabling torque performance of over 50% lower than conventional products.
In February 2023, NTN Corporation unveiled its specialized bearings for the H3 Launch Vehicle turbopumps that required an ultra-high-speed rotation under cryogenic conditions. These bearings have NTN's solid lubricant that is suitable for the extreme temperatures of liquid hydrogen and oxygen.
In August 2023, RBC Bearings Incorporated, a US-based manufacturer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, acquired the business assets of Specline, Inc. a manufacturer of precision bearings for the commercial and defense aerospace markets for an amount of USD 18.7 million. The addition of Specline’s unique bearing and manufacturing processes increases the breadth of our aerospace product offering and enhances our production capacity.
Low-Noise Bearings Market Report Coverage
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 5.75% |
Market size 2023 | USD 3.36 billion |
Regional analysis | North America, Europe, APAC, Rest of the World |
Major contributing region | Asia Pacific dominated the market in 2023 |
Key countries covered | The US, Canada, Germany, The UK, Spain, Italy, France, China, Japan, and India |
Companies profiled | SKF Group, Italcuscinetti S.p.A. a Socio Unico, ROLLAX GmbH & Co. KG, The Timken Company, WINKEL GmbH, NSK Ltd., TFL Bearing, Luoyang LZJM Precision Bearing Co., Ltd., Shenzhen Youmeite Bearings Co., Ltd, and Schaeffler AG |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Type, By Material, By Application, By Distribution Channel, and By Region/Country |
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
Customization Options:
The global low-noise bearings market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Low-Noise Bearings Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global low-noise bearings market were the three major steps undertaken to create and analyze the adoption of low-noise bearings in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the global low-noise bearings market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the low-noise bearings through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the low-noise bearings market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are type, material, application, and distribution. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the low-noise bearings. Further, we conducted factor analysis using dependent and independent variables such as type, material, application, and distribution channel of the low-noise bearings market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the low-noise bearings market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global low-noise bearings market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the low-noise bearings market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global low-noise bearings market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global low-noise bearings market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, material, application, and distribution channel in the global low-noise bearings market.
The main objective of the Global Low-Noise Bearings Market Study
The current & future market trends of the global low-noise bearings market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current forecast and market size of the low-noise bearings market in terms of value (USD). Also, analyze the current forecast and market size of different segments and sub-segments.
- Segments in the study include areas of the type, material, application, and distribution channel.
- Define and analysis of the regulatory framework for the low-noise bearings
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current forecast and market size of the low-noise bearings market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the low-noise bearings market and the growth strategies adopted by the market players to sustain the fast-growing market.
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the low-noise bearings market?
The low-noise bearings market was valued at USD 3.36 billion in 2023 and is expected to grow at a CAGR of 5.75% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the low-noise bearings market?
The increased demand in the automotive and aerospace industries and advancement in industrial automation are driving the demand for low-noise bearings.
Q3: Which segment has the largest low-noise bearings market share by Type?
The ball bearings segment has the largest low-noise bearings market share by Type.
Q4: What are the emerging technologies and trends in the low-noise bearings market?
The integration of IoT and Sensors in the low noise bearings is one of the significant trends in the low-noise bearings market.
Q5: Which region will dominate the low-noise bearings market?
Asia Pacific is expected to dominate the market during the forecast period.
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