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ASEAN Bearings Market Growth: Fueled by Investments in Industrial and Automotive Sectors

globenewswire.com
TTC The Timken Company is mentioned as a key player in the ASEAN bearings market, suggesting its participation and potential growth in the region. BYDDF BYD's establishment of an auto parts factory in Vietnam bolsters local demand for bearings, indicating a positive impact on the automotive sector and related industries.

ASEAN Bearings Market Growth: Fueled by Investments in Industrial and Automotive Sectors Dublin, July 02, 2026 (GLOBE NEWSWIRE) -- The "ASEAN Bearings Market (2025-2031)" has been added to ResearchAndMarkets.com's offering.

The ASEAN bearings market is experiencing robust growth, fueled by increased investments in the industrial and automotive sectors, mineral exploration, and significant infrastructure projects. In October 2023, Indonesia inaugurated Southeast Asia's first high-speed railway, heightening the demand for bearings within rail systems. Malaysia's New Industrial Master Plan 2030 (NIMP 2030), supported by 2024 budget allocations and advocacy for locally made EVs, further propels demand. The Philippines, as the world's second-largest nickel producer, has enhanced its mineral output, with favorable policy reforms and global demand boosting its Fraser ranking in 2024, thereby augmenting bearings demand in mining and industry.

ASEAN Bearings Market Overview

Several international manufacturers have shifted auto parts production to Vietnam, exemplified by BYD's establishment of an auto parts factory in 2023, thereby bolstering local machinery and automotive bearings demand. Known as the "Detroit of Asia," Thailand continues to be a vital hub for automotive and EV manufacturing, with vehicle production expected to rise by 2025, thereby significantly elevating demand for roller and ball bearings.

The ASEAN bearings market is anticipated to grow at a CAGR of 7.8% from 2025 to 2031. Indonesia's construction sector is poised to see substantial growth by 2030, driven by investments allocated under RPJMN 2024-2029 for National Strategic Projects, thereby boosting construction machinery demand and the bearings market. Furthermore, Malaysia's expansion in renewable energy by 2050 will heighten the demand for high-performance bearings in turbines, generators, and tracking systems.

In the Philippines, automotive incentives, including the zero-tariff EV policy extended to 2028, alongside plans to boost renewable energy from 2030 to 2050, are poised to incite bearings demand across automotive, energy, and industrial sectors. Additionally, Vietnam's initiatives to escalate domestic automotive component production from 2025 to 2030 will fortify local manufacturing efforts. The ASEAN Industrial Projects-Based Initiative (AIPBI) is projected to further expedite industrialization and cross-border manufacturing, with the sector expected to grow annually until 2030, contributing significantly to ASEAN's economy by 2050, thereby raising the demand for essential components such as bearings in heavy machinery.

Among key market players, SKF Group leads with advanced lubrication solutions and energy-efficient bearings, while NSK Ltd. and NTN Corporation focus on precision, performance, and innovation in bearings. Schaeffler Group and JTEKT Corporation similarly command significant market shares with their focus on advanced material technologies and precision engineering.

Market Segmentation By Product Type: Roller bearings in Vietnam anticipate robust growth from 2025 to 2031, buoyed by extensive state-led infrastructure projects and a burgeoning manufacturing base. Developments such as Sumitomo Corporation's industrial park in Thanh Hoa will further elevate demand for heavy-duty construction equipment and roller bearings.

Market Segmentation By Application: Vietnam's bearing market will experience significant growth in power generation, driven by the national Power Development Plan focused on grid expansion and renewable energy projects.

Key Attractiveness of the Report

Key Highlights of the Report:

The report provides a detailed analysis of the following market segments:

By Product Type

By Application

Key Topics Covered:

1. Executive Summary

2. Introduction

2.1. Report Description

2.2. Key Highlights of the Report

2.3. Market Scope & Segmentation

2.4. Research Methodology

2.5. Assumptions

3. ASEAN Bearings Market Overview

3.1. ASEAN Bearings Market Revenues and Volume, 2021-2031F ($ Million, Kilotons)

3.2. ASEAN Bearings Market Industry Life Cycle

3.3. ASEAN Bearings Market Porter's Five Forces

4. ASEAN Bearings Market Dynamics

4.1. Impact Analysis

4.2. Market Drivers

4.3. Market Restraints

5. ASEAN Bearings Market Trends & Evolution

6. Thailand Bearings Market Overview

6.1. Thailand Bearings Market Revenues and Volume, 2021-2031F, ($ Million, Kilotons)

6.2 Thailand Bearings Market Revenue Share, by Product Type, 2024 & 2031F

6.2.1 Thailand Bearings Market Revenues, by Ball Bearings, 2021-2031F

6.2.2 Thailand Bearings Market Revenues, by Roller Bearings, 2021-2031F

6.3 Thailand Bearings Market Revenue Share, by Application, 2024 & 2031F

6.3.1 Thailand Bearings Market Revenues, by Automotive, 2021-2031F

6.3.2 Thailand Bearings Market Revenues, by Mining, 2021-2031F

6.3.3 Thailand Bearings Market Revenues, by Steel Industry, 2021-2031F

6.3.4 Thailand Bearings Market Revenues, by Power Generation, 2021-2031F

6.3.5 Thailand Bearings Market Revenues, by Construction and Infrastructure Management, 2021-2031F

6.3.6 Thailand Bearings Market Revenues, by Agriculture, 2021-2031F

6.3.7 Thailand Bearings Market Revenues, by Cement, 2021-2031F

6.3.8 Thailand Bearings Market Revenues, by Others, 2021-2031F

6.4. Thailand Bearings Market Key Performance Indicators

6.5 Thailand Bearings Market Revenues, by Product Type, 2031F

6.6 Thailand Bearings Market Revenues, by Application, 2031F

6.7 Thailand Bearings Market Revenue Share, by Top 3 Companies, 2024

7. Vietnam Bearings Market Overview

7.1. Vietnam Bearings Market Revenues and Volume, 2021-2031F, ($ Million, Kilotons)

7.2 Vietnam Bearings Market Revenue Share, by Product Type, 2024 & 2031F

7.2.1 Vietnam Bearings Market Revenues, by Ball Bearings, 2021-2031F

7.2.2 Vietnam Bearings Market Revenues, by Roller Bearings, 2021-2031F

7.3 Vietnam Bearings Market Revenue Share, by Application, 2024 & 2031F

7.3.1 Vietnam Bearings Market Revenues, by Automotive, 2021-2031F

7.3.2 Vietnam Bearings Market Revenues, by Mining, 2021-2031F

7.3.3 Vietnam Bearings Market Revenues, by Steel Industry, 2021-2031F

7.3.4 Vietnam Bearings Market Revenues, by Power Generation, 2021-2031F

7.3.5 Vietnam Bearings Market Revenues, by Construction and Infrastructure Management, 2021-2031F

7.3.6 Vietnam Bearings Market Revenues, by Agriculture, 2021-2031F

7.3.7 Vietnam Bearings Market Revenues, by Cement, 2021-2031F

7.3.8 Vietnam Bearings Market Revenues, by Others, 2021-2031F

7.4. Vietnam Bearings Market Key Performance Indicators

7.5 Vietnam Bearings Market Revenues, by Product Type, 2031F

7.6 Vietnam Bearings Market Revenues, by Application, 2031F

7.7 Vietnam Bearings Market Revenue Share, by Top 3 Companies, 2024

8. Philippines Bearings Market Overview

8.1. Philippines Bearings Market Revenues and Volume, 2021-2031F, ($ Million, Kilotons)

8.2 Philippines Bearings Market Revenue Share, by Product Type, 2024 & 2031F

8.2.1 Philippines Bearings Market Revenues, by Ball Bearings, 2021-2031F

8.2.2 Philippines Bearings Market Revenues, by Roller Bearings, 2021-2031F

8.3 Philippines Bearings Market Revenue Share, by Application, 2024 & 2031F

8.3.1 Philippines Bearings Market Revenues, by Automotive, 2021-2031F

8.3.2 Philippines Bearings Market Revenues, by Mining, 2021-2031F

8.3.3 Philippines Bearings Market Revenues, by Steel Industry, 2021-2031F

8.3.4 Philippines Bearings Market Revenues, by Power Generation, 2021-2031F

8.3.5 Philippines Bearings Market Revenues, by Construction and Infrastructure Management, 2021-2031F

8.3.6 Philippines Bearings Market Revenues, by Agriculture, 2021-2031F

8.3.7 Philippines Bearings Market Revenues, by Cement, 2021-2031F

8.3.8 Philippines Bearings Market Revenues, by Others, 2021-2031F

8.4. Philippines Bearings Market Key Performance Indicators

8.5 Philippines Bearings Market Revenues, by Product Type, 2031F

8.6 Philippines Bearings Market Revenues, by Application, 2031F

8.7 Philippines Bearings Market Revenue Share, by Top 3 Companies, 2024

9. Malaysia Bearings Market Overview

9.1. Malaysia Bearings Market Revenues and Volume, 2021-2031F, ($ Million, Kilotons)

9.2 Malaysia Bearings Market Revenue Share, by Product Type, 2024 & 2031F

9.2.1 Malaysia Bearings Market Revenues, by Ball Bearings, 2021-2031F

9.2.2 Malaysia Bearings Market Revenues, by Roller Bearings, 2021-2031F

9.3 Malaysia Bearings Market Revenue Share, by Application, 2024 & 2031F

9.3.1 Malaysia Bearings Market Revenues, by Automotive, 2021-2031F

9.3.2 Malaysia Bearings Market Revenues, by Mining, 2021-2031F

9.3.3 Malaysia Bearings Market Revenues, by Steel Industry, 2021-2031F

9.3.4 Malaysia Bearings Market Revenues, by Power Generation, 2021-2031F

9.3.5 Malaysia Bearings Market Revenues, by Construction and Infrastructure Management, 2021-2031F

9.3.6 Malaysia Bearings Market Revenues, by Agriculture, 2021-2031F

9.3.7 Malaysia Bearings Market Revenues, by Cement, 2021-2031F

9.3.8 Malaysia Bearings Market Revenues, by Others, 2021-2031F

9.4. Malaysia Bearings Market Key Performance Indicators

9.5 Malaysia Bearings Market Revenues, by Product Type, 2031F

9.6 Malaysia Bearings Market Revenues, by Application, 2031F

9.7 Malaysia Bearings Market Revenue Share, by Top 3 Companies, 2024

10. Indonesia Bearings Market Overview

10.1. Indonesia Bearings Market Revenues and Volume, 2021-2031F, ($ Million, Kilotons)

10.2 Indonesia Bearings Market Revenue Share, by Product Type, 2024 & 2031F

10.2.1 Indonesia Bearings Market Revenues, by Ball Bearings, 2021-2031F

10.2.2 Indonesia Bearings Market Revenues, by Roller Bearings, 2021-2031F

10.3 Indonesia Bearings Market Revenue Share, by Application, 2024 & 2031F

10.3.1 Indonesia Bearings Market Revenues, by Automotive, 2021-2031F

10.3.2 Indonesia Bearings Market Revenues, by Mining, 2021-2031F

10.3.3 Indonesia Bearings Market Revenues, by Steel Industry, 2021-2031F

10.3.4 Indonesia Bearings Market Revenues, by Power Generation, 2021-2031F

10.3.5 Indonesia Bearings Market Revenues, by Construction and Infrastructure Management, 2021-2031F

10.3.6 Indonesia Bearings Market Revenues, by Agriculture, 2021-2031F

10.3.7 Indonesia Bearings Market Revenues, by Cement, 2021-2031F

10.3.8 Indonesia Bearings Market Revenues, by Others, 2021-2031F

10.4. Indonesia Bearings Market Key Performance Indicators

10.5 Indonesia Bearings Market Revenues, by Product Type, 2031F

10.6 Indonesia Bearings Market Revenues, by Application, 2031F

10.7 Indonesia Bearings Market Revenue Share, by Top 3 Companies, 2024

11. Asean Bearings Market Competitive Landscape

11.1. Asean Bearings Market Revenue Ranking, by Top 3 Companies, 2024

11.2. Asean Bearings Market Competitive Benchmarking, by Technical Parameters

11.3. Asean Bearings Market Competitive Benchmarking, by Operating Parameters

12. Company Profiles

12.1. SKF Group

12.2. NSK Ltd.

12.3. NTN Corporation

12.4. Schaeffler Group

12.5. JTEKT Corporation

12.6. The Timken Company

12.7. Nachi-Fujikoshi Corporation

12.8. MinebeaMitsumi Inc.

12.9. PT Raja Bearindo Aditama

12.10. LAH Bearings

13. Key Strategic Recommendations

14. Disclaimer

List of Figures

List of Tables

Companies Featured

For more information about this report visit https://www.researchandmarkets.com/r/x8v607

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