Cylindrical Roller Bearing Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Cylindrical Roller Bearing Market is segmented By Type (Single-row Cylindrical Roller Bearings, Double-row Cylindrical Roller Bearings, Four-row Cylin....
Cylindrical Roller Bearing Market Size
Market Size in USD
CAGR8.1%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 8.1% |
| Market Concentration | High |
| Major Players | JTEKT India Limited, NTN Corporation, SKF, Schaeffler India Limited, National Engineering Industries Ltd (NEI) |
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Cylindrical Roller Bearing Market Analysis
The Global Cylindrical Roller Bearing Market is estimated to be valued at USD 25.8 Bn in 2024 and is expected to reach USD 48.4 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
The cylindrical roller bearing market is expected to witness positive growth over the forecast period. There is an increasing demand from industrial machinery and equipment sector. Precision cylindrical roller bearings are widely used in various industrial machineries which require precision, speed and shock resistance. Further, rising automotive production across the globe is also driving the demand for cylindrical roller bearings. However, availability of substitutes and volatile raw material costs can hamper the market growth. Key players could explore opportunities in developing regions as well as industries like renewable energy which require robust bearings. Overall, the market is poised for steady growth given the rising applications across industries.