- Displacement
- Speed
- Temperature
- Vibration
- Others
Sensor Baring Market size was valued at USD 6.62 billion in 2023 and is poised to grow at a significant CAGR of 5.5% from 2024-2030. Some of the key factors responsible for the market growth include rising demand from end user industries, growing adoption of IoT in bearing technology, high growth in emerging economies and technological advancements. Sensor bearings are semiconductor devices that are employed in a variety of automotive and material handling devices, and are positioned in small and difficult-to-reach areas of diverse machines where various environmental and mechanical conditions, such as temperature and vibration, must be detected. The rising demand for effective and modern bearings that are durable and require little maintenance is a key factor driving market growth, as is the rising demand for the product from a variety of end-use industries, such as off-highway equipment and material handling equipment, as well as sensor bearings.
However, rising raw material price volatility, increased easy access to low-quality products, and a declining after-sales market are among the major factors acting as restraints, while rising lack of awareness about the benefits of sensor bearings and reluctance to use the product, as well as an increase in the number of counterfeit products, will further challenge the sensor bearing market's growth during the forecast period. The volatility of raw material prices affects the demand for sensor bearing which act as a key restraint to the growth of the bearing isolators market. Rising raw material prices acts as an adoption barrier. In addition, as cost plays an important role in the market presence of cheap quality products available for low cost may hamper the market growth.
Sensor Bearing Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
5.5%
Largest Market
North America
Fastest Growing Market
Asia-Pacific
Sensor Bearing Market Dynamics
The growing demand for sensor bearings from numerous end-use industries such as metal & mining, transportation, oil & gas, automotive, and aerospace & defense is expected to drive the growth of the market. Sensor bearings are used in wheel hub units in vehicles. In railway locomotives and wagons, sensor bearings are used to observe speed, temperature, vibration, etc. Most automotive hub units use speed sensors to send wheel speed data to anti-lock brake systems (ABS) and traction control units of vehicles. Hence, rising demand from end user industries increases the market growth.
Asia-Pacific Got Significant Share
Sensor Bearing Market Regional Analysis
Asia Pacific accounted for larger revenue share in global Sensor Bearing market with considerable CAGR. The Asia Pacific region has emerged as a hub for automotive production, with OEMs and suppliers setting up production facilities to cater to the growing demand for automotive vehicles. The Asia Pacific region has also seen an increase in population and income levels, which has consequently raised the demand for automobiles. Thus, leading to the growing demand for the market.
Latin America
Europe
Asia Pacific
Middle East
North America
Sensor Bearing Market Segmentation
By Functionality
By Application
- Anti-lock Brake Systems (ABS)
- Electric Motors
- Material Handling Equipment
- Others
by End User
- Aerospace & Defense
- Automotive
- Metal & Mining
- Oil & Gas
- Transportation
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa (MEA)
Frequently Asked Questions
The key segments covered in the Sensor Bearing Market are: By Functionality, Application and End User
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
The Sensor Bearing Market size was valued at USD 6.62 billion in 2023
Key Features of the Reports
- The sensor bearing market report provides granular level information about the market size, regional market share, historic market (2019-2022) and forecast (2024-2030)
- The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup's details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market
| 1.Executive Summary |
| 2.Global Sensor Bearing Market Introduction |
| 2.1.Global Sensor Bearing Market - Taxonomy |
| 2.2.Global Sensor Bearing Market - Definitions |
| 2.2.1.Functionality |
| 2.2.2.Application |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Sensor Bearing Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Sensor Bearing Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Sensor Bearing Market By Functionality, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Displacement |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Speed |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Temperature |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Vibration |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Sensor Bearing Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Anti-lock Brake Systems (ABS) |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Electric Motors |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Material Handling Equipment |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Sensor Bearing Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Aerospace & Defense |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Automotive |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Metal & Mining |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Oil & Gas |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Transportation |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Sensor Bearing Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Sensor Bearing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Functionality Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Displacement |
| 9.1.2.Speed |
| 9.1.3.Temperature |
| 9.1.4.Vibration |
| 9.1.5.Others |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Anti-lock Brake Systems (ABS) |
| 9.2.2.Electric Motors |
| 9.2.3.Material Handling Equipment |
| 9.2.4.Others |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Aerospace & Defense |
| 9.3.2.Automotive |
| 9.3.3.Metal & Mining |
| 9.3.4.Oil & Gas |
| 9.3.5.Transportation |
| 9.3.6.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Sensor Bearing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Functionality Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Displacement |
| 10.1.2.Speed |
| 10.1.3.Temperature |
| 10.1.4.Vibration |
| 10.1.5.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Anti-lock Brake Systems (ABS) |
| 10.2.2.Electric Motors |
| 10.2.3.Material Handling Equipment |
| 10.2.4.Others |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Aerospace & Defense |
| 10.3.2.Automotive |
| 10.3.3.Metal & Mining |
| 10.3.4.Oil & Gas |
| 10.3.5.Transportation |
| 10.3.6.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Sensor Bearing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Functionality Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Displacement |
| 11.1.2.Speed |
| 11.1.3.Temperature |
| 11.1.4.Vibration |
| 11.1.5.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Anti-lock Brake Systems (ABS) |
| 11.2.2.Electric Motors |
| 11.2.3.Material Handling Equipment |
| 11.2.4.Others |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Aerospace & Defense |
| 11.3.2.Automotive |
| 11.3.3.Metal & Mining |
| 11.3.4.Oil & Gas |
| 11.3.5.Transportation |
| 11.3.6.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Sensor Bearing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Functionality Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Displacement |
| 12.1.2.Speed |
| 12.1.3.Temperature |
| 12.1.4.Vibration |
| 12.1.5.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Anti-lock Brake Systems (ABS) |
| 12.2.2.Electric Motors |
| 12.2.3.Material Handling Equipment |
| 12.2.4.Others |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Aerospace & Defense |
| 12.3.2.Automotive |
| 12.3.3.Metal & Mining |
| 12.3.4.Oil & Gas |
| 12.3.5.Transportation |
| 12.3.6.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Sensor Bearing Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Functionality Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Displacement |
| 13.1.2.Speed |
| 13.1.3.Temperature |
| 13.1.4.Vibration |
| 13.1.5.Others |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Anti-lock Brake Systems (ABS) |
| 13.2.2.Electric Motors |
| 13.2.3.Material Handling Equipment |
| 13.2.4.Others |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Aerospace & Defense |
| 13.3.2.Automotive |
| 13.3.3.Metal & Mining |
| 13.3.4.Oil & Gas |
| 13.3.5.Transportation |
| 13.3.6.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Timken (US) |
| 14.2.2.NSK Corporation (Japan) |
| 14.2.3.Schaeffler Technologies AG & Co. KG (Germany) |
| 14.2.4.NTN Corporation (Japan) |
| 14.2.5.Nachi Europe GmbH (Germany) |
| 14.2.6.Mageba SA (Switzerland) |
| 14.2.7.JTEKT Corporation (Japan) |
| 14.2.8.Fersa Bearing SA (Spain) |
| 14.2.9.BRTEC (China) |
| 14.2.10.ABB Group (Switzerland) |
| 14.2.11.SKF (Sweden) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
- Timken (US)
- NSK Corporation (Japan)
- Schaeffler Technologies AG & Co. KG (Germany)
- NTN Corporation (Japan)
- Nachi Europe GmbH (Germany)
- Mageba SA (Switzerland)
- JTEKT Corporation (Japan)
- Fersa Bearing SA (Spain)
- BRTEC (China)
- ABB Group (Switzerland)
- SKF (Sweden)