Bearing Market: Industry Size, Growth, Revenue, Statistics and Forecast 2023-2030
Market Overview - The Global Bearing Market Size is expected to cross USD 297622.4 million by 2030 at a CAGR of 8.50% during the forecast period ending in 2028, states the latest Market Research Future (MRFR) analysis. Bearings is a machine element that is used for reducing the friction between moving rotary parts and for supporting rotating parts to obtain desired motion. They are used in different industry verticals like heavy machinery, railway, aerospace, and automotive. Various factors are fuelling the global bearing market growth. As per the recent MRFR market estimates, such factors include the extensive application in the automotive industry, the rising application in different industrial sectors like transport, manufacturing, mining and construction, aerospace, railway, and electronics, the increasing awareness of the different benefits of using bearings like enhanced equipment performance, reduction in energy consumption, and reduced l...