Asia Pacific Plain Bearings Market Forecast to 2031 - Regional Analysis - by Product Type (Spherical Bearings, Rod Ends, and Bushings), Spherical Bearings (Radial, Angular, and Thrust), Rod Ends (Female Thread, Male Thread, and Welding Shank), and Applica

The Asia Pacific plain bearings market was valued at US$ 3,332.84 million in 2023 and is expected to reach US$ 5,358.23 million by 2031; it is estimated to register a CAGR of 6.1% from 2023 to 2031.

Increasing Investments in Infrastructure Development Projects in Energy & Power Sector Boost Asia Pacific Plain Bearings Market

Plain bearings are used in infrastructure developments such as dams, rolling stock, water gates, hydropower, and wind power projects. A wind turbine consists of several bearings, including plain bearings, that provide relative movement between several adjacent parts. Plain bearing offers a low-friction manner and offer higher efficiency. According to the International Energy Agency Report in 2023, nearly US$ 2.8 trillion was invested in the energy sector in 2023. Of these, over US$ 1.7 trillion was invested in clean energy development projects, including renewable power, wind energy, grids, storage management, low-emission fuels, and efficiency improvements for electrification. Such rising investment in the energy sector across the world can create lucrative opportunities for the plain-bearing market growth during the forecast period.

Following Chart Shows Annual Clean Energy Investment by Major Countries/Regions:

Asia Pacific Plain Bearings Market Overview

The plain bearings market in Asia Pacific is segmented into China, India, Australia, Japan, South Korea, and the Rest of Asia Pacific. These countries have demonstrated a strong focus on the development of the construction sector in the past. A large population of Asia Pacific signifies a heightened demand for infrastructure construction. The region comprises several developing economies, including India and many other Southeast Asian countries, posing a strong demand for different infrastructure projects. Governments of various countries are adopting several ways to attract private investments in infrastructure development projects. In 2022, KKR, an investment firm, raised US$ 6.4 billion for infrastructure projects in Asia. In addition, in 2023, the Indonesian government announced the finalization of 190 National Strategic Projects (PSN) worth US$ 95 million. This project includes the construction of toll roads, dams, and airports, among others. In 2024, the Philippine Department of Public Works and Highways (DPWH) declared the completion of a road infrastructure project. According to the United Nations Economic and Social Commission for Asia and the Pacific Survey, Asia Pacific plans to invest more than US$ 196 billion annually in road transportation infrastructure development. Increasing investments in residential, commercial, and infrastructure construction projects are boosting the demand for construction machines, which is boosting the growth of plain bearings in the region.

The demand for plain bearings is growing at the fastest pace in the industrial sector in Asia Pacific. China is a frontrunner in the fabrication business of plain bearings for the residential and commercial sectors. The country has demonstrated its importance as both a consumer and producer of plain bearings. The country is witnessing an upsurge in high-quality plain bearings, ensuring that they are functional and durable. India, Indonesia, and Vietnam are among other significant contributors to the plain bearings demand growth in Asia Pacific. The market growth in this region I primarily attributed to a wide range of income levels and the rapidly growing middle class.

The flourishing aerospace, military and defense, and technology sectors also favor the market in Asia Pacific. The region has seen heavy imports of modern commercial aircraft in recent years due to the increasing number of international travelers from countries such as India, China, Japan, and Taiwan. The number of airports in the region is also on the rise, which, in turn, boosts the demand for plain bearings from airline companies. The agricultural and wood products business are among other enablers of the plain bearings market in Asia Pacific. China has demonstrated its importance as both a consumer and producer of agriculture and forest products. Plain bearings are essential in sawmill machinery.

Asia Pacific Plain Bearings Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Plain Bearings Market Segmentation

The Asia Pacific plain bearings market is categorized into product type, application, and country.

Based on product type, the Asia Pacific plain bearings market is segmented into spherical bearings, rod ends, and bushings. The spherical bearings segment held the largest Asia Pacific plain bearings market share in 2023.

In terms of application, the Asia Pacific plain bearings market is segmented into agriculture, construction, industrial vehicles, automotive and transportation, aerospace and defense, energy and power, and others. The automotive and transportation segment held the largest Asia Pacific plain bearings market share in 2023.

By country, the Asia Pacific plain bearings market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific plain bearings market share in 2023.

Rheinmetall AG, RBC Bearings Incorporated, The Timken Co, NTN Corp, SKF AB, Regal Rexnord Corp, and DAIDO METAL CO., LTD. are some of the leading companies operating in the Asia Pacific plain bearings market.

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