April 22, 2025
Global Bearing Steel Market: Foundation of Industrial Machinery and Mobility
Market Overview The global bearing steel market is projected to expand from 28.5billionin2023to28.5billionin2023to42.8 billion by 2030, growing at a 6.2% CAGR. As the critical material enabling smooth rotational motion in machinery, bearing steel demand is surging across automotive, industrial, and renewable energy sectors, with Asia-Pacific dominating 55% of global consumption. Key Market Drivers ✔ Electric Vehicle Production Boom: 60% higher bearing…
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