North America Industrial Component Market Size, Share & Trends Analysis Report By Product (Bearing, Roller Chain & Sprocket, Shaft Couplings), By Industry Vertical, By Country, And Segment Forecasts, 2025 - 2030
This report can be delivered to the clients within 3 Business Days
Market Size & Trends
The North America industrial component market size was estimated at USD 34.85 billion in 2024 and is projected tgrow at a CAGR of 8.6% from 2025 t2030. The rise of advanced manufacturing technologies, such as additive manufacturing (3D printing), is transforming the market in North America. Additive manufacturing allows for the production of complex components with reduced material waste and shorter lead times. As companies explore the benefits of 3D printing, demand for materials and components that support these processes is increasing. This technology alsenables customization and rapid prototyping, allowing manufacturers trespond quickly tchanging market demands. As advanced manufacturing technologies continue tgain traction, they will play a significant role in shaping the market’s future.
The rise of renewable energy sources, such as wind and solar, significantly influences the industry. As governments and organizations prioritize sustainability and clean energy initiatives, the demand for components used in renewable energy technologies is rising. For instance, manufacturers require specialized components for wind turbines, solar panels, and energy storage systems. This growth in the renewable energy sector creates new opportunities for industrial component suppliers and encourages innovation in materials and technologies. As the transition towards renewable energy continues, the market will see a sustained increase in demand driven by these green initiatives.
In addition, the adoption of Industry 4.0 principles, which emphasize the integration of digital technologies intmanufacturing processes, is reshaping the industrial landscape in North America. Companies increasingly implement smart manufacturing practices that leverage IoT, artificial intelligence, and advanced analytics. This transition drives demand for industrial components that enable connectivity, automation, and real-time data analysis. As manufacturers adopt Industry 4.0 technologies, the need for advanced sensors, communication devices, and smart components will increase, further propelling market growth.
Furthermore, expanding end-user industries such as automotive, aerospace, electronics, and renewable energy drives market growth. The automotive industry, for example, is experiencing a transformation with the rise of electric vehicles (EVs) and autonomous driving technologies. This shift necessitates advanced components such as batteries, power electronics, and smart sensors, contributing tmarket growth. Similarly, the aerospace sector is seeing increased demand for lightweight materials and precision components tenhance fuel efficiency and performance. As these end-user industries continue tgrow and evolve, they will drive the demand for specialized industrial components tailored ttheir unique requirements.
North America Industrial Component Market Report Segmentation
This report forecasts revenue growth at country levels and offers a qualitative and quantitative analysis of the market trends for each segment and sub-segments from 2017 t2030. For this study, Grand View Research has segmented the North America industrial component market based on product, industry vertical, and country.
Market Size & Trends
The North America industrial component market size was estimated at USD 34.85 billion in 2024 and is projected tgrow at a CAGR of 8.6% from 2025 t2030. The rise of advanced manufacturing technologies, such as additive manufacturing (3D printing), is transforming the market in North America. Additive manufacturing allows for the production of complex components with reduced material waste and shorter lead times. As companies explore the benefits of 3D printing, demand for materials and components that support these processes is increasing. This technology alsenables customization and rapid prototyping, allowing manufacturers trespond quickly tchanging market demands. As advanced manufacturing technologies continue tgain traction, they will play a significant role in shaping the market’s future.
The rise of renewable energy sources, such as wind and solar, significantly influences the industry. As governments and organizations prioritize sustainability and clean energy initiatives, the demand for components used in renewable energy technologies is rising. For instance, manufacturers require specialized components for wind turbines, solar panels, and energy storage systems. This growth in the renewable energy sector creates new opportunities for industrial component suppliers and encourages innovation in materials and technologies. As the transition towards renewable energy continues, the market will see a sustained increase in demand driven by these green initiatives.
In addition, the adoption of Industry 4.0 principles, which emphasize the integration of digital technologies intmanufacturing processes, is reshaping the industrial landscape in North America. Companies increasingly implement smart manufacturing practices that leverage IoT, artificial intelligence, and advanced analytics. This transition drives demand for industrial components that enable connectivity, automation, and real-time data analysis. As manufacturers adopt Industry 4.0 technologies, the need for advanced sensors, communication devices, and smart components will increase, further propelling market growth.
Furthermore, expanding end-user industries such as automotive, aerospace, electronics, and renewable energy drives market growth. The automotive industry, for example, is experiencing a transformation with the rise of electric vehicles (EVs) and autonomous driving technologies. This shift necessitates advanced components such as batteries, power electronics, and smart sensors, contributing tmarket growth. Similarly, the aerospace sector is seeing increased demand for lightweight materials and precision components tenhance fuel efficiency and performance. As these end-user industries continue tgrow and evolve, they will drive the demand for specialized industrial components tailored ttheir unique requirements.
North America Industrial Component Market Report Segmentation
This report forecasts revenue growth at country levels and offers a qualitative and quantitative analysis of the market trends for each segment and sub-segments from 2017 t2030. For this study, Grand View Research has segmented the North America industrial component market based on product, industry vertical, and country.
- Product Outlook (Revenue, USD Million, 2017 - 2030)
- Bearing
- Ball Bearing
- Roller Bearing
- Plain Bearing
- Others
- Roller Chain & Sprocket
- Shaft Couplings
- Others
- Industry Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Automotive
- Agriculture
- Railway
- Aerospace
- Food & Beverage
- Others
- Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. Country Based Segment Share Calculation
1.8. List of Data Sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
CHAPTER 3. NORTH AMERICA INDUSTRIAL COMPONENT MARKET VARIABLES, TRENDS, & SCOPE
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Vertical Challenge
3.3. North America Industrial Component Market Analysis Tools
3.3.1. Industry Vertical Analysis - Porter’s
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic and social landscape
3.3.2.3. Technological landscape
CHAPTER 4. NORTH AMERICA INDUSTRIAL COMPONENT MARKET PRODUCT OUTLOOK
4.1. North America Industrial Component Market, By Product & Market Share, 2022 & 2030
4.2. Bearing
4.2.1. Bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.1. Ball Bearing
4.2.1.1.1. Ball bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.2. Roller Bearing
4.2.1.2.1. Roller bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.3. Plain Bearing
4.2.1.3.1. Plain bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.4. Others
4.2.1.4.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
4.3. Roller Chain & Sprocket
4.3.1. Roller chain & sprocket market estimates and forecasts, 2017 - 2030 (USD Billion)
4.4. Shaft Couplings
4.4.1. Shaft couplings market estimates and forecasts, 2017 - 2030 (USD Billion)
4.5. Others
4.5.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
CHAPTER 5. NORTH AMERICA INDUSTRIAL COMPONENT MARKET INDUSTRY VERTICAL OUTLOOK
5.1. North America Industrial Component Market, By Industry Vertical Analysis & Market Share, 2022 & 2030
5.2. Automotive
5.2.1. Automotive market estimates and forecasts, 2017 - 2030 (USD Billion)
5.3. Agriculture
5.3.1. Agriculture market estimates and forecasts, 2017 - 2030 (USD Billion)
5.4. Railway
5.4.1. Railway market estimates and forecasts, 2017 - 2030 (USD Billion)
5.5. Aerospace
5.5.1. Aerospace market estimates and forecasts, 2017 - 2030 (USD Billion)
5.6. Food & Beverage
5.6.1. Food & Beverage market estimates and forecasts, 2017 - 2030 (USD Billion)
5.7. Others
5.7.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
CHAPTER 6. NORTH AMERICA INDUSTRIAL COMPONENT MARKET: COUNTRY ESTIMATES & TREND ANALYSIS
6.1. North America North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.2. U.S.
6.2.1. U.S. North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.3. Canada
6.3.1. Canada North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.4. Mexico
6.4.1. Mexico North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
CHAPTER 7. COMPETITIVE LANDSCAPE
7.1. Company Categorization
7.2. Company Market Positioning
7.3. Company Heat Map Analysis
7.4. Company Profiles/Listing
7.4.1. SKF
7.4.1.1. Participant’s Overview
7.4.1.2. Financial Performance
7.4.1.3. Product Benchmarking
7.4.1.4. Strategic Initiatives
7.4.2. NTN Corporation
7.4.2.1. Participant’s Overview
7.4.2.2. Financial Performance
7.4.2.3. Product Benchmarking
7.4.2.4. Strategic Initiatives
7.4.3. The Timken Company
7.4.3.1. Participant’s Overview
7.4.3.2. Financial Performance
7.4.3.3. Product Benchmarking
7.4.3.4. Strategic Initiatives
7.4.4. Schaeffler Group
7.4.4.1. Participant’s Overview
7.4.4.2. Financial Performance
7.4.4.3. Product Benchmarking
7.4.4.4. Strategic Initiatives
7.4.5. JTEKT Corporation
7.4.5.1. Participant’s Overview
7.4.5.2. Financial Performance
7.4.5.3. Product Benchmarking
7.4.5.4. Strategic Initiatives
7.4.6. Renold plc
7.4.6.1. Participant’s Overview
7.4.6.2. Financial Performance
7.4.6.3. Product Benchmarking
7.4.6.4. Strategic Initiatives
7.4.7. Webster Industries Inc.
7.4.7.1. Participant’s Overview
7.4.7.2. Financial Performance
7.4.7.3. Product Benchmarking
7.4.7.4. Strategic Initiatives
7.4.8. Regal Rexnord
7.4.8.1. Participant’s Overview
7.4.8.2. Financial Performance
7.4.8.3. Product Benchmarking
7.4.8.4. Strategic Initiatives
7.4.9. NSK Ltd.
7.4.9.1. Participant’s Overview
7.4.9.2. Financial Performance
7.4.9.3. Product Benchmarking
7.4.9.4. Strategic Initiatives
7.4.10. Hangzhou Donghua Chain Group Co., Ltd.
7.4.10.1. Participant’s Overview
7.4.10.2. Financial Performance
7.4.10.3. Product Benchmarking
7.4.10.4. Strategic Initiatives
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. Country Based Segment Share Calculation
1.8. List of Data Sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
CHAPTER 3. NORTH AMERICA INDUSTRIAL COMPONENT MARKET VARIABLES, TRENDS, & SCOPE
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Vertical Challenge
3.3. North America Industrial Component Market Analysis Tools
3.3.1. Industry Vertical Analysis - Porter’s
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic and social landscape
3.3.2.3. Technological landscape
CHAPTER 4. NORTH AMERICA INDUSTRIAL COMPONENT MARKET PRODUCT OUTLOOK
4.1. North America Industrial Component Market, By Product & Market Share, 2022 & 2030
4.2. Bearing
4.2.1. Bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.1. Ball Bearing
4.2.1.1.1. Ball bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.2. Roller Bearing
4.2.1.2.1. Roller bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.3. Plain Bearing
4.2.1.3.1. Plain bearing market estimates and forecasts, 2017 - 2030 (USD Billion)
4.2.1.4. Others
4.2.1.4.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
4.3. Roller Chain & Sprocket
4.3.1. Roller chain & sprocket market estimates and forecasts, 2017 - 2030 (USD Billion)
4.4. Shaft Couplings
4.4.1. Shaft couplings market estimates and forecasts, 2017 - 2030 (USD Billion)
4.5. Others
4.5.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
CHAPTER 5. NORTH AMERICA INDUSTRIAL COMPONENT MARKET INDUSTRY VERTICAL OUTLOOK
5.1. North America Industrial Component Market, By Industry Vertical Analysis & Market Share, 2022 & 2030
5.2. Automotive
5.2.1. Automotive market estimates and forecasts, 2017 - 2030 (USD Billion)
5.3. Agriculture
5.3.1. Agriculture market estimates and forecasts, 2017 - 2030 (USD Billion)
5.4. Railway
5.4.1. Railway market estimates and forecasts, 2017 - 2030 (USD Billion)
5.5. Aerospace
5.5.1. Aerospace market estimates and forecasts, 2017 - 2030 (USD Billion)
5.6. Food & Beverage
5.6.1. Food & Beverage market estimates and forecasts, 2017 - 2030 (USD Billion)
5.7. Others
5.7.1. Others market estimates and forecasts, 2017 - 2030 (USD Billion)
CHAPTER 6. NORTH AMERICA INDUSTRIAL COMPONENT MARKET: COUNTRY ESTIMATES & TREND ANALYSIS
6.1. North America North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.2. U.S.
6.2.1. U.S. North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.3. Canada
6.3.1. Canada North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.4. Mexico
6.4.1. Mexico North America Industrial Component Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
CHAPTER 7. COMPETITIVE LANDSCAPE
7.1. Company Categorization
7.2. Company Market Positioning
7.3. Company Heat Map Analysis
7.4. Company Profiles/Listing
7.4.1. SKF
7.4.1.1. Participant’s Overview
7.4.1.2. Financial Performance
7.4.1.3. Product Benchmarking
7.4.1.4. Strategic Initiatives
7.4.2. NTN Corporation
7.4.2.1. Participant’s Overview
7.4.2.2. Financial Performance
7.4.2.3. Product Benchmarking
7.4.2.4. Strategic Initiatives
7.4.3. The Timken Company
7.4.3.1. Participant’s Overview
7.4.3.2. Financial Performance
7.4.3.3. Product Benchmarking
7.4.3.4. Strategic Initiatives
7.4.4. Schaeffler Group
7.4.4.1. Participant’s Overview
7.4.4.2. Financial Performance
7.4.4.3. Product Benchmarking
7.4.4.4. Strategic Initiatives
7.4.5. JTEKT Corporation
7.4.5.1. Participant’s Overview
7.4.5.2. Financial Performance
7.4.5.3. Product Benchmarking
7.4.5.4. Strategic Initiatives
7.4.6. Renold plc
7.4.6.1. Participant’s Overview
7.4.6.2. Financial Performance
7.4.6.3. Product Benchmarking
7.4.6.4. Strategic Initiatives
7.4.7. Webster Industries Inc.
7.4.7.1. Participant’s Overview
7.4.7.2. Financial Performance
7.4.7.3. Product Benchmarking
7.4.7.4. Strategic Initiatives
7.4.8. Regal Rexnord
7.4.8.1. Participant’s Overview
7.4.8.2. Financial Performance
7.4.8.3. Product Benchmarking
7.4.8.4. Strategic Initiatives
7.4.9. NSK Ltd.
7.4.9.1. Participant’s Overview
7.4.9.2. Financial Performance
7.4.9.3. Product Benchmarking
7.4.9.4. Strategic Initiatives
7.4.10. Hangzhou Donghua Chain Group Co., Ltd.
7.4.10.1. Participant’s Overview
7.4.10.2. Financial Performance
7.4.10.3. Product Benchmarking
7.4.10.4. Strategic Initiatives
