Global Sensor Bearing Market to Reach USD 15.3 Billion by 2034 Driven by IoT Integration and Electric Vehicle Growth

The global Sensor Bearing Market will grow from USD 7.8B in 2024 to USD 15.3B by 2034, driven by IoT adoption, EV demand, and Industry 4.0 trends.

VANCOUVER, BC, CANADA, August 14, 2025 /EINPresswire.com/ -- The global Sensor Bearing Market is set for strong growth, projected to increase from USD 7.8 billion in 2024 to USD 15.3 billion by 2034, registering a compound annual growth rate (CAGR) of 6.8%, according to a new industry analysis.

Sensor bearings, which combine traditional bearing functions with advanced sensing capabilities, are becoming essential across industries such as automotive, aerospace, and industrial machinery. These bearings help improve operational efficiency, reduce downtime, and enable predictive maintenance through real-time data monitoring.

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Automotive Sector Leading the Way

The automotive segment remains the largest and fastest-growing market for sensor bearings. The rising adoption of electric vehicles (EVs) and the development of autonomous driving technologies are key contributors to this growth. As EV production expands—forecasted to grow by 15% annually—manufacturers are integrating more sensor bearings to improve vehicle performance, safety, and reliability.

Geographic Trends

North America currently holds the largest market share due to its advanced manufacturing capabilities and early adoption of smart technologies. However, the Asia Pacific region is expected to grow at the fastest pace in the coming decade, driven by rapid industrialization, urbanization, and investments in manufacturing infrastructure.

Technology and Innovation Driving Growth

One of the most important factors boosting the market is the integration of Internet of Things (IoT) and smart technologies into sensor bearings. IoT-enabled bearings provide continuous data on performance and health, allowing operators to perform maintenance before costly failures occur. According to industry research, the global IoT market is expected to grow to USD 1.1 trillion by 2025, directly supporting demand for smart sensor bearings.

In March 2024, SKF introduced a new range of smart sensor bearings designed for real-time monitoring, a move expected to boost their annual sales by 12%. These types of innovations are enabling predictive maintenance, which can reduce costs by 20% and improve equipment uptime by 10%, according to PwC.

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Industry 4.0 and Regulatory Support

Government and industry initiatives are also accelerating adoption. In Europe, the Industry 4.0 initiative encourages manufacturers to use smart manufacturing technologies, including sensor bearings, to improve energy efficiency and reduce environmental impact. The European Union’s sustainability goals are expected to increase adoption rates by 18% annually in the region.

Sensor Bearing Market Segmentation

By Product Type

Ball Bearings

Roller Bearings

Plain Bearings

Others

By Application

Automotive

Aerospace

Industrial Machinery

Healthcare

Others

By End User

OEMs

Aftermarket

By Technology

IoT-Enabled Bearings

Smart Bearings

Conventional Bearings


By Distribution Channel

Direct Sales

Distributors

Online Sales

Market Challenge

Despite strong growth potential, the market faces some barriers. High costs remain a challenge, with 45% of manufacturers citing the expense of integrating IoT and smart technologies as a major hurdle, according to the International Data Corporation (IDC). Data management is another obstacle, as many companies lack the infrastructure to handle large volumes of information generated by sensor bearings. Gartner reports that 60% of companies struggle with data-related challenges.

In addition, strict data privacy regulations such as the EU’s General Data Protection Regulation (GDPR) can increase compliance costs—up to 15% higher for some companies. The shortage of skilled workers in manufacturing further slows adoption, with 70% of manufacturers reporting difficulties in finding qualified personnel to operate advanced systems.

Growing Role in Predictive Maintenance

The adoption of sensor bearings is also being fueled by the manufacturing sector’s growing focus on predictive maintenance. By enabling early detection of wear and tear, these bearings help avoid unexpected downtime and extend equipment life. This trend is especially significant in industries such as aerospace and heavy machinery, where equipment failures can be extremely costly.

Sensor Bearing Competitive Strategies & Notable Developments

Top 10 Companies

SKF

Schaeffler Group

NTN Corporation

NSK Ltd.

JTEKT Corporation

Timken Company

MinebeaMitsumi Inc.

Nachi-Fujikoshi Corp.

C&U Group

Harbin Bearing Manufacturing Co., Ltd.


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Strategic Moves by Market Leaders

To stay competitive, leading companies like SKF, Schaeffler Group, and NTN Corporation are ramping up investments in research, development, and strategic alliances. Their focus on launching advanced product lines and forming partnerships with IoT technology providers is helping them capture greater market share and meet evolving customer demands.

Sustainability Trends

Environmental considerations are also shaping the market. Manufacturers are increasingly moving towards eco-friendly production methods and materials to meet global sustainability targets. This trend is expected to align well with regulatory requirements and consumer demand for greener technologies.

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