No. of Pages: 110 | Report Code: BMIRE00031843 | Category: Manufacturing and Construction
The South & Central America plain bearings market was valued at US$ 700.10 million in 2023 and is expected to reach US$ 960.99 million by 2031; it is estimated to register a CAGR of 4.0% from 2023 to 2031.
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.
Brazil and Argentina are among the major countries in the plain bearing market in South America. The market growth is attributed to rising industrialization, along with a surge in government investments in the energy, oil, and gas industries. Plain bearings consist of self-lubricating materials that reduce friction and wear and tear to make lubrication-free bearings. Rapid industrialization and urban population growth boost the demand for water management facilities, positively influencing the use of plain bearing in the region. Several companies are investing in the South American countries to promote the industrial development. In March 2024, Stellantis multinational automotive manufacturing corporation announced an investment of US$ 6.08 billion for expansion and development of the automotive products for the period from 2025 to 2030 in South America. The investment made in the Brazilian automotive industry to support and launch of more than 40 new products during the forecast period. This long-term strategic investment was made to develop the automotive industry in Brazil and South America. Additionally, the rising advancements in the food & beverages, manufacturing, and construction industries drive the growth of the plain bearing market in South America.
The South & Central America plain bearings market is categorized into product type, application, and country.
Based on product type, the South & Central America plain bearings market is segmented into spherical bearings, rod ends, and bushings. The spherical bearings segment held the largest South & Central America plain bearings market share in 2023.
In terms of application, the South & Central America 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 South & Central America plain bearings market share in 2023.
By country, the South & Central America plain bearings market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America plain bearings market share in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 700.10 Million |
| Market Size by 2031 | US$ 960.99 Million |
| Global CAGR (2023 - 2031) | 4.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
Rheinmetall AG, RBC Bearings Incorporated, The Timken Co, NTN Corp, SKF AB, and Regal Rexnord Corp are some of the leading companies operating in the South & Central America plain bearings market.
The South & Central America Plain Bearings Market is valued at US$ 700.10 Million in 2023, it is projected to reach US$ 960.99 Million by 2031.
As per our report South & Central America Plain Bearings Market, the market size is valued at US$ 700.10 Million in 2023, projecting it to reach US$ 960.99 Million by 2031. This translates to a CAGR of approximately 4.0% during the forecast period.
The South & Central America Plain Bearings Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Plain Bearings Market report:
The South & Central America Plain Bearings Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Plain Bearings Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Plain Bearings Market value chain can benefit from the information contained in a comprehensive market report.
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