The market is dominated by foreign suppliers, as imports account for 65.9% of total market size in 2023. B2B drives market demand, with B2B spending representing 100% of total demand in 2023. The US has the largest market size for bearings, gears, and driving elements across the top 20 developed countries, with demand reaching USD25.6 billion in 2023. SKF USA Inc is the largest company in the US, generating 13.0% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 41.3% of total production value in 2023. The total number of companies increases in 2023, to 1,367 units. The costs of the industry increase by 4.6% in 2023, largely driven by rising B2B costs. The industry’s profitability increases and stands at 13.2% of production value in 2023, the third highest across the top 20 developed countries. The industry’s exports share decreases in 2023 to 51.1% of total production output. With production value of USD14.0 billion, the US accounts for 85.8% of the North America total in 2023.
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This Euromonitor industrial report provides unique information on Bearings, Gears, and Driving Elements in the US: ISIC 2913. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Bearings, Gears, and Driving Elements in the US: ISIC 2913 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of general purpose machinery and special purpose machinery.
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