At 5.5% CAGR, North America High Heat Bearing Market is Projected to be Worth US$ 2,483.98 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the North America high heat bearing market was valued at US$ 1,620.78 million in 2023 and is expected to reach US$ 2,483.98 million by 2031, registering a CAGR of 5.5% from 2023 to 2031. Rising demand in food and beverage processing industries and increasing investments in aerospace and defense sector are among the critical factors attributed to the North America high heat bearing market expansion.

Various equipment and instruments used in the food and beverage industry are subjected to extreme temperatures, steam, and pressure. High heat bearings are vital for guaranteeing the smooth operation of critical equipment operating in severe temperature conditions in food processing and packaging facilities. These components are particularly essential in machinery deployed in processes such as pasteurization, sterilization, and drying. Further, baking, frying, freezing, and refrigeration are all examples of food production techniques that involve both high and low temperatures. Continuous exposure to heat and steam in the food and beverage processing plants can cause a wide range of materials to corrode, resulting in the failure of instruments.

The need for high heat bearings in the manufacturing of various types of equipment utilized in the food and beverages sector is increasing with the uninterrupted growth of the food processing industry. The elevating demand for convenience in food and innovation in plant-based food categories propels the growth of the global food processing sector. Various players across the world are expanding their presence by making investments in the food processing businesses; for example, in November 2024, Nestle USA invested US$ 150 million to expand its frozen food production in Gaffney, South Carolina. The expansion will include the installation of a new line for producing single-serve frozen meals, as well as increased automation and digital technology. Thus, the flourishing food processing industry with increasing investments creates a noteworthy demand for high heat bearings.

On the contrary, the increased cost associated with using advanced materials in bearing manufacturing processes hampers the growth of the high heat bearing market in North America.

Based on type, the North America high heat bearing market is segmented into plain bearings, roller bearings, and deep groove ball bearings. The roller bearings segment held 37.5% share of the North America high heat bearing market in 2023, amassing US$ 607.73 million. It is projected to garner US$ 984.81 million by 2031 to expand at 6.2% CAGR during 2023-2031. The plain bearings segment is further sub segmented into spherical plain bearings, rod ends, and bushings.

Based on industry, the North America high heat bearing market is segmented into metal processing, aerospace, defense, food and beverages, energy and power, manufacturing, automotive, and others. The manufacturing segment held 28.7% share of the North America high heat bearing market in 2023, amassing US$ 465.59 million. It is projected to garner US$ 688.52 million by 2031 to expand at 5.0% CAGR during 2023-2031.

Based on country, the North America high heat bearing market is segmented into the US, Canada, and Mexico. The US held 71.8% share of North America high heat bearing market in 2023, amassing US$ 1,163.40 million. It is projected to garner US$ 1,810.82 million by 2031 to expand at 5.7% CAGR during 2023-2031.

Key players operating in the high heat bearing market are NSK Ltd; NTN Corp; RBC Bearings Incorporated; SKF AB; Global Bearing Technologies S.r.L; Dalian Chengfeng Bearing Sales Co., Ltd; Scheerer Bearing Corporation; DURBAL Metallwarenfabrik GmbH; Graphite Metallizing Corporation; and ISK bearings, among others.

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