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Bearing & Gear Manufacturing in Europe - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

ISIC 2814 August 2024 Spotlight Report

Revenue

€53.0bn

2019-2024 4.4 %
2024-2029 X.X %

Employees

284k

2019-2024 2.0 %
2024-2029 X.X %

Businesses

2,785

2019-2024 3.2 %
2024-2029 X.X %

Wages

€XX.Xbn

2019-2024 X.X %
2024-2029 X.X %

Bearing & Gear Manufacturing in Europe industry analysis

Bearing and gear manufacturing companies produce various products, including bearings, gearboxes, clutches and transmission shafts. Manufacturers rely on export revenue, leaving them susceptible to input inflation and exchange rate movements. Similarly, the development of the downstream automotive industry plays a central role in dictating the order volume of mechanical drive elements and various bearings. Outside motor vehicle manufacturers, bearings and gearboxes supply industrial equipment manufacturers, including lifting and handling equipment and agricultural machinery manufacturers. Germany comprises the largest share of industry revenue.

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Industry Statistics and Trends

Bearing & Gear Manufacturing in Europe key trends

Slow industry revenue growth leaves manufacturers vulnerable to external acquisition.

 

Supply-side inflation, low order volumes and weak profitability left some companies vulnerable to acquisition, with the US-based Timken Company acquiring GGB in November 2022.

Consolidation trends will start seeping into the industry.

 

Manufacturers will continue consolidating to boost their competitiveness and profitability. According to IBISWorld estimates, German manufacturers will continue to dominate the market, forecast to generate 65% of industry revenue by 2030.

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Bearing & Gear Manufacturing in Europe

Industry Revenue

Total value and annual change from 2011-2029. Includes 5-year outlook.

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Bearing & Gear Manufacturing in Europe market size (2019-2024)

Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated €53.0bn in 2024.

Trends and Insights

A turbulent automotive industry temporarily weighs on sales

  • During the pandemic, European automotive manufacturers suffered from slashed output, resulting in sub-par bearing and gear order volumes. Following this, in 2021 and 2022, semiconductor shortages restricted manufacturing output.

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Bearing & Gear Manufacturing in Europe outlook (2024-2029)

Market size is projected to grow over the next five years.

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Revenue

€53.0bn

2019-2024 4.4 %
2024-2029 X.X %

Employees

284k

2019-2024 2.0 %
2024-2029 X.X %

Wages

€XX.Xbn

2019-2024 X.X %
2024-2029 X.X %

European Leaders & Laggards

Europe Job Growth CAGR: 2.0 % *
  • Job Growth

Top 5 Countries

  1. Russia +10.4%
  2. Bulgaria +8.5%
  3. Turkey +7.5%
  4. Poland +5.7%
  5. Spain +5.2%

Bottom 5 Countries

  1. Greece -8.1%
  2. Latvia -6.7%
  3. Croatia -3.9%
  4. Italy -3.3%
  5. Ukraine -2.7%

* CAGR values are for the years 2019-2024.

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Biggest companies in the Bearing & Gear Manufacturing in Europe

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
ZF Friedrichshafen AG
48,215.0
1,438.0
3.0
Schaeffler AG
17,346.4
1,068.7
6.2
Siemens AG
72,439.3
5,123.2
7.1

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Bearing & Gear Manufacturing in Europe

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Top Questions Answered in this Report

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What is the market size of the Bearing & Gear Manufacturing industry in Europe in 2024?

The market size of the Bearing & Gear Manufacturing industry in Europe is €53.0bn in 2024.

How many businesses are there in the Bearing & Gear Manufacturing in Europe industry in 2024?

There are 2,785 businesses in the Bearing & Gear Manufacturing industry in Europe, which has declined at a CAGR of 3.2 % between 2019 and 2024.

Has the Bearing & Gear Manufacturing industry in Europe grown or declined over the past 5 years?

The market size of the Bearing & Gear Manufacturing industry in Europe has been declining at a CAGR of 4.4 % between 2019 and 2024.

What is the forecast growth of the Bearing & Gear Manufacturing industry in Europe over the next 5 years?

Over the next five years, the Bearing & Gear Manufacturing industry in Europe is expected to grow.

What does the Bearing & Gear Manufacturing in Europe include?

Gearbox and Bearing & bearing housing are part of the Bearing & Gear Manufacturing industry.

Which countries have the most businesses in the Bearing & Gear Manufacturing industry in Europe?

The European country with the most businesses in the Bearing & Gear Manufacturing industry is Turkey.

How competitive is the Bearing & Gear Manufacturing industry in Europe?

The level of competition is high and increasing in the Bearing & Gear Manufacturing industry in Europe.

Related Industries

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Table of Contents

About this industry

Industry definition

Companies in this industry manufacture gearboxes, roller and ball bearings, gears, chains, clutches, flywheels, pulleys, parts of bearings and gears and other mechanical drive elements used in motor vehicles, machinery, equipment and devices.

Related Terms

BEARINGROLLER BEARINGGEARBALL BEARING

What's included in this industry?

GearboxBearing & bearing housingBearing and gear partsCranks and crankshaftsOther mechanical drive elements

Companies

ZF Friedrichshafen AGSchaeffler AGSiemens AG

Industry Code

ISIC 2006

2814 - Manufacture of bearings, gears, gearing and driving elements in Europe

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Performance

Key Takeaways

A turbulent automotive industry temporarily weighs on sales

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Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue Growth
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue in the Bearing & Gear Manufacturing in Europe industry (2011 -2029)
  • Employees in the Bearing & Gear Manufacturing in Europe industry (2011 -2029)
  • Business in the Bearing & Gear Manufacturing in Europe industry (2011 -2029)
  • Profit in the Bearing & Gear Manufacturing in Europe industry (2011 -2029)
Analysis

What's driving current industry performance in the Bearing & Gear Manufacturing in Europe industry?


Outlook

Analysis

What's driving the Bearing & Gear Manufacturing in Europe industry outlook?


Volatility

Analysis

What influences volatility in the Bearing & Gear Manufacturing in Europe industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Bearing & Gear Manufacturing in Europe industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

Bearing & bearing housing sales suffer from low industrial production volumes. According to the European Commission, industrial production in the Euro area tumbled by 6.6% over the years through October 2023, weighing on downstream demand for bearings.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Bearing & Gear Manufacturing in Europe industry's products and services performing?

Analysis

What are innovations in the Bearing & Gear Manufacturing in Europe industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Bearing & Gear Manufacturing in Europe industry?


International Trade

Highlights

  • Largest Importer
  • Smallest Importer
  • Total Imports into Europe
  • Largest Exporter
  • Smallest Exporter
  • Total Exports into Europe
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Revenue by Region (2024)
  • Share of Total Industry Enterprises by Region (2024)
  • Share of Total Industry Employment by Region (2024)
  • Share of Total Industry Wages by Region (2024)

Industry Geographic Breakdown

Data Tables

Values and annual change provided for 37 European countries:

  • Revenue (2024)
  • IVA (2024)
  • Enterprises (2024)
  • Employment (2024)
  • Exports (2024)
  • Imports (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

A handful of manufacturers hold a slice of market share. A degree of market saturation has begun to occur where manufacturers can only achieve growth via acquisitions, while intense import competition restricts growth prospects for SMEs.

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Supply Chain

Charts

Buyer and supply industries

Companies

Market Share

Charts
  • Industry Market Share by Company (2019-2024)

Companies

Data Tables

Top 10 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit Margin (2024)

Data Tables
  • Countries of operation for ZF Friedrichshafen AG
  • Countries of operation for Schaeffler AG
  • Countries of operation for Siemens AG
  • Countries of operation for Robert Bosch GmbH
  • Countries of operation for AB SKF
  • Countries of operation for Magna PT BV & Co KG
  • Countries of operation for NSK Europe Ltd
  • Countries of operation for Safran SA
  • Countries of operation for Bonfiglioli SpA
  • Countries of operation for Fersa Bearings SA

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Manufacturers must comply with a handful of EU and European regulations. Bearing and gear manufacturers must abide by the Machinery Directive (2006/42/EC), the Occupational Health and Safety Act and Ordinance and the EU General Product Safety Regulation (GPSR).

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Bearing & Gear Manufacturing in Europe industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Profitability has edged downward since the onset of the pandemic. Over 2021 and 2022, supply chain bottles drove up raw material prices, while the Russian-Ukraine conflict pushed up transportation and logistics costs, weighing on probability.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Bearing & Gear Manufacturing in Europe industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.