Asia-Pacific Plain Bearing Market Outlook, 2028

In recent years, the Asia-Pacific plain bearing market has seen tremendous growth and development. This market includes many industries, such as automotive, aerospace, industrial machinery, and others. The Asia-Pacific region's demand for plain bearings has increased due to a strong manufacturing base and significant economic expansion in nations such as China, Japan, India, and South Korea. The expanding industrial sectors, infrastructural initiatives, and increased investments in numerous end-use industries in the region have been important market drivers. The Asia-Pacific area has a large customer base, fast urbanisation, and rising disposable incomes, all of which contribute to increased demand for autos, machinery, and consumer products. As a result, the demand for dependable, high-performance plain bearings has increased. Furthermore, technical improvements such as the incorporation of smart features, self-lubrication capabilities, and energy-efficient designs have fueled the region's plain bearing market growth. Furthermore, the increased emphasis on sustainable manufacturing practises and strict laws have encouraged Asian producers to offer environmentally friendly and recyclable plain bearing solutions. The Asia-Pacific region has seen an increase in demand for electric vehicles. The need for high-performance plain bearings has surged as EV manufacturers strive to improve efficiency and reduce friction. Manufacturers are designing bearings developed specifically for electric drivetrains with reduced friction, great durability, and enhanced energy efficiency. The Asia-Pacific region's growing industrialization and infrastructure development have offered prospects for the plain bearing market. Plain bearings are in high demand in a variety of applications, including heavy machinery, turbines, pumps, and conveyors, as a result of the construction of manufacturing facilities, power plants, transportation networks, and renewable energy projects. Furthermore, the Asia-Pacific area is seeing an increase in demand for maintenance-free plain bearings. Customers prefer bearings that require little or no maintenance, resulting in cost savings and operational ease. Self-lubricating and sealed bearing solutions are being developed by manufacturers to give long-lasting performance without the need for periodic re-lubrication or maintenance. According to the research report, “Asia-Pacific Plain Bearing Market, Outlook, 2028", published by Bonafide Research, the market is projected to grow at 6.36% CAGR from 2023 to 2028. New technologies, such as additive manufacturing, are also having a big impact on the plain bearing business. Using additive manufacturing, complicated and delicate parts that would be difficult or impossible to produce using traditional methods can now be produced. Furthermore, a growing emphasis on design is a crucial trend in the Asia-Pacific plain bearing market. Plain bearings that are specially adapted to the needs of their clients are becoming increasingly popular among manufacturers. This emphasis on design is assisting in the improvement of plain bearing performance and efficiency.. Asia-Pacific has a strong and diverse manufacturing base. Automobiles, consumer electronics, industrial machinery, and other commodities are produced in the region. Large manufacturing operations necessitate the use of a diverse range of plain bearings for assembly lines, production equipment, and machinery, contributing to the market's size. In addition, the Asia-Pacific area is seeing significant investments in infrastructure projects such as transportation networks, electricity generation facilities, and urban development. These projects necessitate a large number of machinery and equipment, which drives the demand for plain bearings in construction machines, cranes, excavators, and other infrastructure-related applications. In addition, The Asia-Pacific region is experiencing rapid industrialization, with countries like China, India, and South Korea witnessing substantial growth in their manufacturing sectors. This industrial growth has increased the demand for machinery, equipment, and infrastructure, driving the need for plain bearings in various applications.

Based on type, the market is divided into journal, linear, thrust, Angular contact and other. The journal type bearing is playing significant role in the development of plain bearing market in Asia-Pacific region. Journal bearings are known for their cost-effectiveness compared to other types of bearings. They are relatively simpler in design and construction, resulting in lower manufacturing costs. This cost advantage makes journal bearings an attractive choice for industries in the Asia-Pacific region, particularly in price-sensitive markets or applications where high precision is not required. Furthermore, journal bearings offer simplified maintenance compared to other types of bearings. They typically require less frequent lubrication and are designed for self-lubrication or lubrication through external systems. This characteristic reduces maintenance efforts and costs, which is particularly advantageous for industries in the Asia-Pacific region where minimizing downtime and maintenance-related expenses is crucial. The journal bearing design has a long history and is well-established in various industries. Over the years, many industries in the Asia-Pacific region have become accustomed to using journal bearings due to their reliability and cost-effectiveness. This preference and established usage have contributed to the sustained demand for journal bearings in the region. China is playing key role in the development of plain bearing market in Asia-Pacific and is dominating the market as well with significant market share. China has established itself as a manufacturing powerhouse, with a vast industrial base and extensive production capabilities. The country's manufacturing sector spans various industries, including automotive, machinery, electronics, and more. This manufacturing strength creates a significant demand for plain bearings, as they are essential components in a wide range of machinery and equipment. Furthermore, China has a massive domestic market with a large and rapidly growing consumer base. The country's booming economy, rising middle class, and increasing disposable incomes have fueled the demand for automobiles, appliances, electronics, and other consumer goods. This surge in demand translates into a higher need for plain bearings, which are used in the production of these goods. China's manufacturing cost advantage has been a significant factor in the development of the plain bearing market. The country offers relatively lower production costs compared to many other regions, making it attractive for both domestic and international manufacturers. This cost advantage allows Chinese manufacturers to produce plain bearings competitively and offer cost-effective solutions to customers. Furthermore countries like India, South Korea and Australia are witnessing significant growth in plain bearing market of Asia-Pacific. The OEM distribution channel is a significant contributor to the plain bearing market in the Asia-Pacific region. The Asia-Pacific area has a strong industrial manufacturing base, with many OEMs operating in industries such as automotive, equipment, electronics, and others. Because they include plain bearings in their products during the manufacturing process, these OEMs are key consumers of plain bearings. OEM demand is significant and consistent, making the OEM distribution channel an important contributor to the plain bearing industry. OEMs generally form long-term alliances or contracts with plain bearing producers. These agreements provide a consistent and dependable supply of bearings to satisfy the OEMs' manufacturing requirements. These contracts' stability fosters confidence and collaboration between manufacturers and OEMs, resulting in long-term business ties and mutual growth. OEMs frequently demand customised plain bearings to fulfil their unique product specifications. Manufacturers can collaborate closely with OEMs through the OEM distribution channel, offering them with customised bearing solutions and value-added services such as design support, technical assistance, and product testing. This customization and value-added service boost the OEM distribution channel by addressing the specific demands of Asia-Pacific OEMs.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: Asia-Pacific • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Asia-Pacific 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: • China • Japan • India • Australia • South Korea

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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.