Europe Plain Bearing Market Outlook, 2028

The European plain bearing market, an essential component of the region's industrial environment, continues to grow and innovate at a remarkable rate. It is well-known for its strong production capabilities and focus on technical developments. Plain bearings, sometimes known as bushings or sleeve bearings, are essential components in a wide range of applications, including automotive and aerospace, heavy machinery, and renewable energy. These bearings offer frictionless support and allow for smooth motion between moving parts, resulting in optimal performance and efficiency. The European Union's strong emphasis on R&D and technical innovation plays an important role in propelling the plain bearing market forward. European countries have a long history of technical expertise and are leaders in the development of improved bearing materials, designs, and production processes. This dedication to innovation results in the development of high-performance bearings with greater durability, decreased friction, and increased energy efficiency, fulfilling the increasing needs of modern industries. Furthermore, the growing demand for maintenance-free and low-maintenance solutions drives the plain bearing industry forward. Bearings that require less lubrication, have a long service life and can tolerate extreme operating conditions are in high demand. Self-lubricating and low-friction plain bearings are being developed by European producers to meet this need. Self-lubricating and low-friction plain bearings offer long-lasting performance without the need for frequent maintenance or re-lubrication. The circular economy concept, which emphasises resource conservation, waste reduction, and product recycling, is gaining popularity in Europe. Plain bearing manufacturers are progressively embracing sustainable practises such as the use of recycled materials, the implementation of efficient manufacturing processes, and the facilitation of end-of-life bearing recycling. This emphasis on the circular economy corresponds to the region's sustainability goals as well as customer expectations for ecologically friendly products. According to the research report, “Europe Plain Bearing Market, Outlook, 2028", published by Bonafide Research, the market is expected to add USD 1 Billion from 2023 to 2028. Automation, artificial intelligence, and the Internet of Things (IoT) are all changing the plain bearing industry in Europe. Smart characteristics are being incorporated into bearings, allowing them to interface with other components or systems, monitor performance, and provide input for predictive maintenance. These intelligent bearings help to improve operating efficiency, lower expenses, and overall system performance. Furthermore, predictive maintenance practises are gaining traction in Europe. Technologies like condition monitoring, data analytics and remote monitoring are being used by industries to improve equipment performance and prevent unplanned downtime. This tendency is reflected in the development of smart bearings integrated with sensors to offer real-time data on bearing health, lubrication state, and operational characteristics in the plain bearing market. The plain bearing market in Europe is witnessing greater demand from the wind power sector as the focus shifts to renewable energy sources. Plain bearings are important components in wind turbines because they provide support and rotational movement in the rotating assembly. As Europe's wind energy industry grows, so does the demand for large-scale, long-lasting, high-performance plain bearings. As industries demand more specialized and tailored solutions, there is a growing trend towards customization in the plain bearing market. Manufacturers are offering application-specific bearing designs, sizes, and materials to meet unique requirements. This trend allows for optimized performance and longevity, leading to increased customer satisfaction and loyalty. Furthermore, the circular design approach is gaining traction in the plain bearing market in Europe. Manufacturers are focusing on extending the lifespan of bearings through improved durability and maintenance practices. Furthermore, the concept of remanufacturing and refurbishing used bearings is gaining prominence, allowing for the reuse of components and reduction of waste. Furthermore, with the increasing adoption of electric vehicles in Europe is driving the demand for plain bearings. In industries such as food and beverage, pharmaceuticals, and medical devices, there is a growing demand for hygienic and food-grade bearings. European manufacturers are developing plain bearings specifically designed to meet stringent hygiene standards, including easy cleanability, resistance to corrosion and contamination, and compliance with industry regulations. These specialized bearings ensure the integrity and safety of products in sensitive environments.

The type of the market is segmented into journal, linear, thrust, Angular contact and other). The journal bearing is widely used in Europe. Journal bearings are well-known for their high load capacity and ability to tolerate heavy loads. They can withstand both radial and axial loads, making them appropriate for a wide range of applications in a variety of industries. This large load capacity is especially useful in heavy machinery, automobile engines, and industrial equipment used in Europe's manufacturing industry. Journal bearings have numerous applications in a variety of sectors. They are frequently found in automotive engines, industrial machinery, marine propulsion systems, turbines, pumps, and a variety of other rotating equipment. Journal bearings' extensive application base in Europe contributes to their widespread use and popularity in the region. Furthermore, Europe has a well-developed manufacturing infrastructure, including foundries, machining facilities, and expertise in bearing manufacturing. This infrastructure supports the production of high-quality journal bearings that meet strict quality standards and regulations. The availability of skilled labor and advanced manufacturing techniques ensures a reliable supply of journal bearings to meet the demand in Europe. The distribution channel of market includes OEM and Aftermarket. OEM is positively dominating the market of plain-bearing in Europe with significant market share as well. The Aftermarket channel is gaining popularity in the European plain bearing market. Replacement parts, such as simple bearings, become critical as industrial equipment and machinery age or wear and tear. For these replacement bearings, the aftermarket channel is a convenient and accessible supplier. Industries all around Europe rely on the aftermarket to get the bearings they need immediately in order to minimise downtime and keep their machinery running efficiently. Furthermore, when compared to original equipment manufacturer (OEM) channels, the aftermarket channel frequently provides more cost-effective solutions for plain bearings. Because of variables such as streamlined distribution networks, decreased overhead expenses, and a concentration on certain product lines, aftermarket suppliers can offer competitive prices. These low cost appeals to enterprises wishing to cut maintenance and repair costs without sacrificing quality. Furthermore, aftermarket providers usually have flexible ordering methods that allow organisations to acquire bearings in small quantities or on an as-needed basis. When compared to OEM channels, they provide shorter lead times and speedier delivery, ensuring little disturbance to operations. Aftermarket suppliers' agility and reactivity correspond with the dynamic needs of enterprises in Europe's fast-paced industrial scene. Recent Developments: • SKF announced on June 1, 2023 that it has opened a new manufacturing facility in Poland. The new facility will produce plain bearings for the automotive and industrial markets. • NSK announced on May 25, 2023 that it has acquired a majority stake in a German bearing company. The acquisition will help NSK to expand its presence in the European market. • Schaeffler announced on May 15, 2023 that it has launched a new line of plain bearings for the wind power industry. The new bearings are designed to withstand the harsh conditions found in wind turbines. • Timken announced on May 1, 2023 that it has opened a new research and development center in the United Kingdom. The new center will focus on developing new technologies for plain bearings.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: Europe • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Europe Plain Bearing market with its value and forecast along with its segments • Country-wise Plain Bearing market analysis • On-going trends and developments • Top profiled companies • Strategic recommendation Countries Covered in the report: • Germany • United Kingdom • France • Italy • Spain • Russia

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By Type: • Journal • Linear • Thrust • Angular Contact • Other By Application: • Automotive • Industrial • Aerospace • Others (Railway, Agriculture, etc.) By Distribution Channel: • OEM • Aftermarket The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Plain Bearing industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.