Bearing & Gear Manufacturing in Europe - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: August 2024
EU-C2814Revenue
€53.0bn
Past 5-Year Growth
Profit
€X.Xbn
Employees
284k
Businesses
2,785
Wages
€XX.Xbn
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.
Trends and Insights
- 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.
- 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.
- 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.
Industry Overview
Market size and recent performance (2014-2029)
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.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2025-2030)
Market size is projected to grow over the next five years.
Trends and Insights
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.
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 |
To view the market share and analysis for all 10 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Gearbox, Bearing & bearing housing and Bearing and gear parts. Gearbox is the largest segment of the Bearing & Gear Manufacturing in Europe.
Trends and Insights
Gearbox sales tank during the pandemic, though a recovery is taking place
- Gearboxes are mechanical devices that adjust power transmission and achieve optimum performance.
- More insights available in the full report
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Complementors
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.
What's included in this industry?
GearboxBearing & bearing housingBearing and gear partsCranks and crankshaftsOther mechanical drive elementsCompanies
ZF Friedrichshafen AGSchaeffler AGSiemens AGPurchase this report to view all 10 major companies in this industry.
Related Terms
BEARINGROLLER BEARINGGEARBALL BEARINGIndustry Code
2814 - Bearing & Gear Manufacturing in Europe
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Slow industry revenue growth leaves manufacturers vulnerable to external acquisition. Supply-side inflation, low order volumes and weak profitability left some companies vuln...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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% ov...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Purchase this report to unlock analyst insights.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
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 ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of ZF Friedrichshafen AG's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Schaeffler AG's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Siemens AG's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 7 additional companies
Detailed analysis
- Description and key data for ZF Friedrichshafen AG, and factors influencing its performance in the industry
- Description and key data for Schaeffler AG, and factors influencing its performance in the industry
- Description and key data for Siemens AG, and factors influencing its performance in the industry
- Description, key data and performance trends for 7 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
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 H...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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 pu...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
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
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Bearing & Gear Manufacturing industry in Europe in 2025?
The market size of the Bearing & Gear Manufacturing industry in Europe is €53.0bn in 2025.
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 are the biggest companies in the Bearing & Gear Manufacturing market in Europe?
The biggest companies operating in the Bearing & Gear Manufacturing market in Europe are ZF Friedrichshafen AG, Schaeffler AG and Siemens AG
What does the Bearing & Gear Manufacturing in Europe include?
Gearbox and Bearing & bearing housing are part of the Bearing & Gear Manufacturing industry.
Which companies have the highest market share in the Bearing & Gear Manufacturing in Europe?
The company holding the most market share in Europe is ZF Friedrichshafen AG.
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.
