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.
Consolidation trends will start seeping into the industry
- Manufacturers will continue their consolidation efforts in the coming years to boost their competitiveness and profitability. However, the threat of external acquisition will remain high, particularly from multinational manufacturers based in the US.
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Revenue
€53.0bn
Employees
284k
Wages
€XX.Xbn
European Leaders & Laggards
* 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
This industry is covered in 37 countries
- Bearing & Gear Manufacturing in Greece
- Bearing & Gear Manufacturing in Russia
- Bearing & Gear Manufacturing in Slovakia
- Bearing & Gear Manufacturing in Denmark
- Bearing & Gear Manufacturing in Poland
- Bearing & Gear Manufacturing in Estonia
- Bearing & Gear Manufacturing in Slovenia
- Bearing & Gear Manufacturing in Europe
- Bearing & Gear Manufacturing in the UK
- Bearing & Gear Manufacturing in Germany
- Bearing & Gear Manufacturing in Austria
- Bearing & Gear Manufacturing in Romania
- Bearing & Gear Manufacturing in Norway
- Bearing & Gear Manufacturing in the UK
- Bearing & Gear Manufacturing in Sweden
- Bearing & Gear Manufacturing in Germany
- Bearing & Gear Manufacturing in Croatia
- Bearing & Gear Manufacturing in Bulgaria
- Bearing & Gear Manufacturing in Spain
- Bearing & Gear Manufacturing in France
- Bearing & Gear Manufacturing in Lithuania
- Bearing & Gear Manufacturing in the Netherlands
- Bearing & Gear Manufacturing in Belgium
- Bearing & Gear Manufacturing in Hungary
- Bearing & Gear Manufacturing in Finland
- Bearing & Gear Manufacturing in Bosnia & Herzegovina
- Bearing & Gear Manufacturing in Portugal
- Bearing & Gear Manufacturing in Czechia
- Bearing & Gear Manufacturing in Serbia
- Bearing & Gear Manufacturing in Italy
- Bearing & Gear Manufacturing in Turkey
- Bearing & Gear Manufacturing in Ireland
- Bearing & Gear Manufacturing in Latvia
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 BEARINGWhat's included in this industry?
GearboxBearing & bearing housingBearing and gear partsCranks and crankshaftsOther mechanical drive elementsCompanies
ZF Friedrichshafen AGSchaeffler AGSiemens AGIndustry Code
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.
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.
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).
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.
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.
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