Global Cross Roller Bearings Market Report and Forecast 2024-2032

Global Cross Roller Bearings Market Outlook

The global market for cross roller bearings reached a value of about USD 1.4 billion in 2023. The industry is further expected to grow at a CAGR of about 2.6% in the forecast period of 2024-2032 to reach a value of around USD 1.8 billion by 2032.

Asia Pacific to be a Significant Regional Market for Cross Roller Bearings

The rapid economic development in the region, reflected by the speedy industrialisation in India and China, is one of the primary factors enabling the Asia Pacific region to dominate the cross-roller bearings market share in the forecast period. The rising deployment of robotics in the medical and renewables industries in Japan and South Korea, and increased construction activity in China, India, Japan, and South Korea, will further propel the regional market growth. Also, the increasing applications of bearings in the renewable energy sector are expected to accelerate the market growth in the region.

In North America, heavy investments in construction equipment, communications technologies, and medical technologies will augment the market growth. The increasing investments in special bearings, which are immensely deployed in medical applications, such as CT scanners, diagnostics equipment, and others, are expected to stimulate the market growth in the region.

On the other hand, the market in Europe is set to experience a high growth phase owing to the active adoption of smart factories, warehouses, and distribution centres, along with robust healthcare infrastructure.

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Market Segmentations

Inner ring division and outer ring rotation distinguish cross roller bearings from other types of bearings. It is simple to install the cross-roller shaft ring because the divided inner ring or outer ring is fastened together with the cross-roller shaft ring after loading the roller and interval retainer to prevent mutual separation. Robots require cross roller bearings to travel on uneven surfaces because they provide rigidity and strength.

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Based on product, the market is segmented into:

• Single Inner and Split Outer Ring
• Split Inner and Single Outer Ring
• Others

Based on bore diameter, the market is divided into:

• 18 mm to 250 mm
• 250 mm to 400 mm
• 400 mm to 800 mm
• Above 800 mm

The significant applications of the market are:

• Industrial Machinery 
• Medical systems
• Robotics
• Others

The regional markets for the cross-roller bearings market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Growth in Wind Energy Augmenting the Market Growth

There has been a substantial increase in wind installations around the globe. This bodes well for the rising demand for cross-roller bearings because these components ensure that the wear and tear of wind turbines happen at a stable rate. According to research conducted by the National Wind Technology Centre in the United States, bearing axial cracks, which result from friction between the rolling components and excessive pressure on the bearings, are among the most prevalent failures in wind turbines. As a result, as renewable energy grows, the demand for cross roller bearings increases. The techniques used by prominent competitors to tighten their grip on the market are increasingly defining competition in this industry. For example, in June 2020, Schaeffler introduced its next-gen XZU conical thrust cage needle roller bearing and RTWH precision gearbox. The bearing solution is designed for robot and cobot (collaborative robots) joints, assuring low friction and high rigidity quotient.

At the same time, the RTWH gearbox comprises speed-reduction gears to be used in robot articulated joints. The ability of cross roller bearings to withstand large axial and radial loads has enhanced its applicability in industrial robots, along with other end-use applications. Significant investments toward industrial robots are anticipated to fuel the market growth over the forecast period. The development in the industrial sector, along with investments towards the development of smart factories, has increased the applications of cross roller bearings in these sectors and showcased positive growth prospects for the global market over the forecast period.

Key Players in the Market for Global Cross Roller Bearings

The report gives a detailed analysis of the following key players in the global cross roller bearings market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Luoyang Huigong Bearing Technology Co., Ltd
• The Timken Company
• HIWIN Technologies Corp.
• Nippon Bearing Co., Ltd.
• Schaeffler AG
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report