What are the latest figures on the thrust bearings market’s size and projected CAGR?
The thrust bearings market size has grown strongly in recent years. It will grow from $3.51 billion in 2024 to $3.79 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing industrialization, growing automotive production, rise in aerospace applications, expansion of heavy machinery usage, and ease in wind energy installations.
The thrust bearings market size is expected to see strong growth in the next few years. It will grow to $5.1 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising demand for renewable energy, increasing construction activities, growing oil and gas exploration, expanding e-mobility adoption, and a rise in robotics and automation. Major trends in the forecast period include demand for eco-friendly materials, focus on energy efficiency, rise in electric vehicles, growth in automation in manufacturing, and expansion of offshore energy projects.
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Which Market drivers have played a significant role in driving the thrust bearings market?
The growing automotive sector is expected to propel the growth of the thrust bearings market going forward. The automotive sector encompasses companies involved in designing, developing, manufacturing, and selling motor vehicles. The automotive industry is gaining traction due to consumer demand, credit availability, adoption of electric vehicles, and consumer preferences for innovative transportation solutions. Thrust bearings are essential to the automotive sector, as they support axial loads and minimize friction in key components such as transmissions and steering systems, improving vehicle durability and performance. For instance, in June 2024, according to a report published by Statistics Canada, a Canada-based national statistical organization, in 2022, the total number of registered road motor vehicles in Canada reached 26.3 million, showing an increase of 0.3% compared to 2021. Therefore, the growing automotive sector is driving the thrust bearings market.
What are the key segments within the thrust bearings market?
The thrust bearingsmarket covered in this report is segmented –
1) By Type: Ball Thrust Bearing, Single Direction, Double Direction, Cylindrical Roller Bearing, Spherical Roller Thrust Bearings, Tapered Roller Thrust Bearing
2) By Material: Stainless Steel, Ceramic
3) By Distribution Channel: Online, Offline
4) By End-User: Automotive, Power And Energy, Aerospace, Industrial, Other End Users
Subsegments:
1) By Ball Thrust Bearing: Single Row Ball Thrust Bearing, Double Row Ball Thrust Bearing
2) By Single Direction: Flat Seat Single Direction Bearing, Convex Seat Single Direction Bearing
3) By Double Direction: Flat Seat Double Direction Bearing, Convex Seat Double Direction Bearing
4) By Cylindrical Roller Bearing: Single Row Cylindrical Roller Thrust Bearing, Multi Row Cylindrical Roller Thrust Bearing
5) By Spherical Roller Thrust Bearings: Solid Spherical Roller Thrust Bearings, Split Spherical Roller Thrust Bearings
6) By Tapered Roller Thrust Bearing: Single Row Tapered Roller Thrust Bearing, Double Row Tapered Roller Thrust Bearing
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Which key players are shaping the thrust bearings market?
Major companies operating in the thrust bearings marker are JTEKT Corporation, SKF AB, NTN Corporation, The Timken Company, Nachi-Fujikoshi Corp., RBC Bearings Ltd., C&U Group, Waukesha Bearings Corp, American Roller Bearing Company, NSK Ltd., Kingsbury Inc., Bearings Plus Inc., Scheerer Bearing Corporation, SNL Bearings Ltd., ZKL Group, Boca Bearings Co. Ltd., Adarsh Bearings Pvt Ltd., Gem Bearings, Qibr Bearing Co. Ltd., Astro Bearings Corp
Which transformative trends will shape the thrust bearings market landscape?
Major companies operating in the thrust bearings market actively focus on developing mounted thrust bearings to meet the increasing demand for more efficient and durable components in various industrial sectors. Mounted thrust bearings, which come pre-assembled and ready for installation, offer advantages such as reduced maintenance time, increased load-carrying capacity, and improved alignment. For instance, in March 2024, Auburn Bearing & Manufacturing, a US-based designer and manufacturer of ball and roller thrust bearings, launched an MT-114RG mounted thrust bearing. This new bearing solution enhances the versatility of the existing T-114RG thrust bearing series by allowing for easier installation options. The MT-114RG can be conveniently threaded onto a shaft, simplifying installation and ensuring secure placement.
How do regional factors impact the thrust bearings market, and which region is the largest contributor?
North America was the largest region in the thrust bearings market in 2024. The regions covered in the thrust bearings marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Thrust Bearings Market Report 2025 Offer?
The thrust bearings market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A thrust bearing is a type of rotary bearing specifically designed to support axial loads, meaning loads applied parallel to the shaft’s axis. Unlike radial bearings, which support loads perpendicular to the shaft’s axis, thrust bearings manage forces that push or pull along the axis of rotation. The main function of a thrust bearing is to reduce friction and support axial loads in rotating applications. These bearings enable smooth rotation while withstanding the forces generated along the axis of the rotating parts.
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