Bearing Market Size

Bearing Market size was over USD 50 Billion in 2023 and is poised to cross USD 175 Billion by the end of 2036, witnessing more than 11% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of bearing is estimated at USD 55.5 Billion.

The bearing market growth is expected due to the growing use of high-capacity goods in wind turbines. These products are used by wind turbines to improve their efficiency and dependability, produce more energy, and use less lubricant. The total installed wind capacity reached 906 GW1 in 2022 when 77.6 GW of new wind generating capacity was added to electricity networks worldwide. This is a 9% increase from 2021.