Summary

Global Sensor Bearing Market Overview
The global sensor bearing market size was worth US$ 6.5 billion in 2023 and is estimated to reach US$ 8.9 billion by 2031, growing at a CAGR of 4.02% during the forecast period (2024-2031).
The sensor bearing is a freestanding sensor produced by bearing manufacturers for measuring speed, acceleration and direction parameters in rotating applications. Sensor bearings are used for various purposes, including speed, temperature, and vibration, among others. A sensor bearing is equipped with an embedded sensor that measures bearing speed and direction and transmits the information to a control system. Bearing sensors normally measure temperature or vibration and are primarily used for condition monitoring, though external sensors can assess speed or direction.
Smaller sensor bearings for industrial machines enable more auxiliary equipment and an easier assembly process. Sensor bearings are commonly used in various applications such as wear resistance, materials handling, and electric motors, among others. The market is likely to expand in the coming years due to the significant increase in the use of sensor bearings across application areas.
Global Sensor Bearing Market Dynamics
The sensor bearing market is being driven by the growing demand for sensor bearings from end-use industries such as automotive & transportation and the implementation of strict regulations associated with the required installation of ABS systems in cars in various Asia-Pacific and European countries.
Rising demand for high-performance sensor bearings
The demand for improved efficiency and low-maintenance bearings from the end-use industries is driving the market forward. In addition, AC motors are increasingly being used in various industrial applications. Thus, the necessity for accurate monitoring of the speed and direction of spinning parts has risen due to this increased use.
New sensor bearing products have been launched that are more durable and can withstand harsh operating conditions. Furthermore, it will deliver high-efficiency performance at a lower cost of operation. These elements are expected to enhance the market. In addition, the market is growing due to the increased demand for material handling and off-highway equipment.
Increasing demand for sensor bearings from various end-use industries
The demand for sensor bearings is increasing from the automotive and other end-use industries and there has been an increase in bearings use in heavy machinery in industries including mining, infrastructure development, construction, agriculture and power production. Furthermore, as public awareness and demand for electric vehicles have grown, so has the use of bearing in EVs.
Furthermore, growing concerns about green vehicles and continuous development in the automobile industry, the emergence of sensor bearing units and increased development of additive manufacturing technologies and materials to manufacture bearings provide lucrative opportunities, resulting in the global bearing market's growth.
Availability of cost-effective alternatives
One of the primary hindering blocks is the low-cost availability of classic sensor bearing substitutes. On the other hand, engineers are working on sensor bearings that can be readily integrated into end-user designs and provide high dependability, low maintenance and lower operating costs.
COVID-19 Impact Analysis
The pandemic had a harsh impact on the market, with many manufacturing enterprises experiencing negative consequences due to lockdown situations in major economies like China and Japan. The automobile industry, which consumes the most bearings of all other industries, has seen a significant decline in car manufacturing, owing to supply chain interruptions and restrictions on people's movement. However, situations has signifiacntly improved now, as limitations have been gradually lifted and industrial activity has increased.
Global Sensor Bearing Market Segment Analysis
By application, the sensor bearing market is segmented into ABS, material handling equipment, electric motors and others.
Stringent regulations regarding ABS make it the dominant application type.
Sensor bearings were originally used in automobiles in the mid-1980s with anti-lock braking systems (ABS). ABS systems demanded that fluctuations in the circumferential speed of the wheel be measured. At the time, leading bearing manufacturers began developing "smart" bearings with sensors. Bearing sensors were rolled out of the design as ABS systems improved and active wheel speed sensors were used instead to provide wheel speed data for anti-lock brakes, traction control and stability control systems.
ABS control systems determine the need for anti-lock braking. The ABS section of the sensor bearing market is growing due to the increased demand for vehicles with anti-lock brakes in developed countries. Furthermore, since 2011 and 2014, U.S. and some European Union member countries have made the use of ABS and ESC systems in automobiles mandatory. It also contributes to the expansion of the ABS market.
Regulations have been implemented to make ABS and ESC systems mandatory in passenger vehicles. Over the anticipated period, it has aided the market expansion in the application segments. Furthermore, automotive OEMs in nations such as China, India, Japan, Germany and U.S. have increased their need for ABS systems.
Global Sensor Bearing Market Geographical Analysis
Rapidly growing automotive industry in Asia-Pacific
Owing to the strong demand for sensor bearings from the growing automotive industry, the sensor bearing market in Asia-Pacific is likely to increase significantly. With OEMs and suppliers putting up production facilities to meet the growing demand for automotive vehicles, Asia-Pacific has emerged as a hub for automotive production. Asia-Pacific is expected to dominate the global market due to China and India's massive industrial and automotive industries and continued investments in the area.
The growing demand for trucks, buses, trains, industrial machinery, and robots in China and India boosts sensor bearings in various applications. Asia-Pacific has also seen a rise in population and economic levels, which has boosted demand for automobiles. As a result, there is a rise in demand for sensor bearings.
Global Sensor Bearing Market Competitive Landscape
Product launches, product approvals and organic growth tactics such as patents and events are being prioritized by several companies. Acquisitions, partnerships and collaborations were seen as inorganic growth tactics. The operations have cleared the road for market participants to expand their business and client base. With the increased demand for sensor bearing worldwide, key participants in the sensor bearing market are expected to benefit from lucrative growth prospects.
Major global sensor bearing market companies include NTN Corporation, The Timken Company, Schaeffler Technologies AG & Co. Kg, NSK Corporation, Jtekt Corporation, ABB Group, Thomson Industries Inc., Mageba SA, Fersa Bearings and Nachi Europe.
Russia-Ukraine War Impact:
The Russia-Ukraine war has significantly impacted the global sensor bearing market by disrupting supply chains and creating economic instability. Many sensor bearing manufacturers and suppliers rely on materials and components sourced from Eastern Europe, including Ukraine and Russia. The conflict has led to supply shortages, increased transportation costs, and heightened risks for businesses operating in the region. Consequently, these disruptions have caused delays in production and delivery schedules, leading to potential increases in product prices and difficulties in meeting customer demands.
Additionally, the geopolitical tensions have influenced global trade policies and market dynamics. Companies have had to reassess their strategies, including diversifying their supply sources and exploring alternative markets to mitigate risks. The uncertainty and volatility associated with the conflict have prompted some businesses to shift their investments and operations to more stable regions, further affecting the sensor bearing market's growth and development. Despite these challenges, the market has shown resilience, with businesses adapting to the changing landscape and seeking innovative solutions to maintain their competitive edge.
By Functionality
• Speed
• Temperature
• Vibration
• Others
By Application
• ABS
• Material Handling Equipment
• Electric Motors
• Others
By End-user
• Automotive
• Transportation
• Metal & Mining
• Aerospace & Defense
• Oil & Gas
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• In September 2023, Schaeffler AG strategically diversified its product portfolio by introducing new offerings in rotary table bearings, torque motors, and linear motors. This expansion includes various sizes for rotary table and rotary axis bearings, complemented by the incorporation of bearing-integrated angular measuring systems. The standardization of torque motors within the RKIB series, now available up to size 690, further strengthens the company's capability to offer a comprehensive range of top-tier solutions.
• In November 2023, The Timken Company successfully concluded the acquisition of Engineered Solutions Group, also known as Innovative Mechanical Solutions (iMECH). Specializing in the production of radial bearings, specialty coatings, thrust bearings, and other components primarily tailored for the energy industry, iMECH operates with a workforce of approximately 70 professionals. The business anticipates generating revenue of approximately USD 30 million for the calendar year 2023. This strategic acquisition is instrumental in enhancing the company’s standing as a provider of comprehensive solutions within the industrial motion and engineered bearings sector.
Competitive Landscape
The major global players in the market include NTN Corporation, The Timken Company, Schaeffler Technologies AG & Co. Kg, NSK Corporation, Jtekt Corporation, ABB Group, Thomson Industries Inc., Mageba SA, Fersa Bearings, and Nachi Europe.
Why Purchase the Report?
• Visualize the composition of the sensor bearing market segmentation by functionality, application, end-user and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the sensor bearing market by analyzing trends and co-development deals.
• Excel data sheet with thousands of sensors bearing market-level 4/5 segmentation points.
• Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
The global sensor bearing market report would provide access to an approx. 61 market data table, 57 figures and 205 pages.
Target Audience 2022
• Sensor Bearing Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Emerging Companies

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Table of Contents

Table of Contents
1. Global Sensor Bearing Market Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Global Sensor Bearing Market – Market Definition and Overview
3. Global Sensor Bearing Market – Executive Summary
3.1. Market Snippet By Functionality
3.2. Market Snippet By Application
3.3. Market Snippet By End-User
3.4. Market Snippet By Region
4. Global Sensor Bearing Market-Market Dynamics
4.1. Market Impacting Factors
4.1.1. Drivers
4.1.1.1. Rising demand for high-performance sensor bearings
4.1.1.2. Increasing demand for sensor bearings from various end-use industries
4.1.2. Restraints
4.1.2.1. Availability of cost-effective alternatives
4.1.2.2. XX
4.1.3. Opportunity
4.1.3.1. XX
4.1.4. Impact Analysis
5. Global Sensor Bearing Market – Industry Analysis
5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. Global Sensor Bearing Market – COVID-19 Analysis
6.1. Analysis of COVID-19 on the Market
6.1.1. Before COVID-19 Market Scenario
6.1.2. Present COVID-19 Market Scenario
6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid Covid-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. Global Sensor Bearing Market – By Functionality
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
7.1.2. Market Attractiveness Index, By Functionality
7.2. Speed*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Temperature
7.4. Vibration
7.5. Others
8. Global Sensor Bearing Market – By Application
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
8.1.2. Market Attractiveness Index, By Application
8.2. ABS*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Material Handling Equipment
8.4. Electric Motors
8.5. Others
9. Global Sensor Bearing Market – By End-User
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User.
9.1.2. Market Attractiveness Index, By End-User
9.2. Automotive*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Transportation
9.4. Metal & Mining
9.5. Aerospace & Defense
9.6. Oil & Gas
9.7. Others
10. Global Sensor Bearing Market – By Region
10.1. Introduction
10.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
10.3. Market Attractiveness Index, By Region
10.4. North America
10.4.1. Introduction
10.4.2. Key Region-Specific Dynamics
10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.4.6.1. U.S.
10.4.6.2. Canada
10.4.6.3. Mexico
10.5. Europe
10.5.1. Introduction
10.5.2. Key Region-Specific Dynamics
10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.5.6.1. Germany
10.5.6.2. UK
10.5.6.3. France
10.5.6.4. Italy
10.5.6.5. Spain
10.5.6.6. Rest of Europe
10.6. South America
10.6.1. Introduction
10.6.2. Key Region-Specific Dynamics
10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By
Functionality
10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.6.6.1. Brazil
10.6.6.2. Argentina
10.6.6.3. Rest of South America
10.7. Asia-Pacific
10.7.1. Introduction
10.7.2. Key Region-Specific Dynamics
10.7.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By
Functionality
10.7.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10.7.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.7.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
10.7.6.1. China
10.7.6.2. India
10.7.6.3. Japan
10.7.6.4. Australia
10.7.6.5. Rest of Asia-Pacific
10.8. The Middle East and Africa
10.8.1. Introduction
10.8.2. Key Region-Specific Dynamics
10.8.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By
Functionality
10.8.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10.8.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11. Global Sensor Bearing Market – Competitive Landscape
11.1. Competitive Scenario
11.2. Market Positioning/Share Analysis
11.3. Mergers and Acquisitions Analysis
12. Global Sensor Bearing Market - Company Profiles
12.1. NTN Corporation
12.1.1. Company Overview
12.1.2. Product Portfolio and Description
12.1.3. Key Highlights
12.1.4. Financial Overview
12.2. The Timken Company
12.3. Schaeffler Technologies AG & Co. Kg
12.4. NSK Corporation
12.5. Jtekt Corporation
12.6. ABB Group
12.7. Thomson Industries Inc.
12.8. Mageba SA
12.9. Fersa Bearings
12.10. Nachi Europe
LIST NOT EXHAUSTIVE
13. Global Sensor Bearing Market – Premium Insights
14. Global Sensor Bearing Market – DataM
14.1. Appendix
14.2. About Us and Services
14.3. Contact Us