Mexico Bearings and Bushings Market

Mexico Bearings and Bushings Market Overview:

The Mexico bearings and bushings market size reached USD XX Million in 2024. Looking forward, IMARC Group expects the market to reach USD XX Million by ​2033​, exhibiting a growth rate (CAGR) of XX% during 2025-2033. The market is driven by the expanding automotive and industrial sectors, which require efficient and reliable components for enhanced performance and longevity. Additionally, the growing demand for machinery in manufacturing, coupled with advancements in infrastructure development, contributes to the market’s growth. Increasing investments in the renewable energy sector, particularly in wind turbine applications, also fuel the demand for high-quality bearings and bushings, further augmenting Mexico bearings and bushings market share.

Mexico Bearings and Bushings Market Trends:

Growth in Automotive and Transportation Sectors

The sector is experiencing robust growth driven by the expansion of the automotive and transport sectors. As Mexico is one of the primary manufacturing hubs of international automakers, the market for high-performance bushings and bearings is expanding. These products are essential in a wide range of motor vehicle parts, such as engines, axles, suspension systems, and steering mechanisms, ensuring smooth motion and endurance. According to industry reports, Mexican EV production reached 109,695 units by 2023. Additionally, the number is forecasted to increase exponentially, with EV production potentially reaching 161,000 units by the close of 2024, a 61% increase from 2023. The increasing production of electric vehicles (EVs) in Mexico is leading to a higher need for custom bearings and bushings that will withstand the unique requirements of EV motors and drives. With top automotive businesses setting up or having their plants in Mexico, the demand for these products will continue to rise. In addition to this, the shift towards more energy-efficient and high-performance products, development in bearing and bushing materials, and manufacturing techniques is becoming essential to meet such changing demands.

Growing Demand from Renewable Energy Sector

The renewable energy sector, which involves wind energy, is emerging as a significant driver for the Mexico bearings and bushings market growth. With the country's move towards diversifying its sources of energy and reducing its carbon footprint, the installation of wind turbines has accelerated, which is raising the demand for specialty components such as bearings and bushings. These components are used in the rotor, pitch systems, and yaw mechanism of wind turbines to deliver uniform and efficient operation. Mexico, as of 2024, boasts over 8 GW of installed wind capacity, and government incentives continue to spur further development in the sector. To support these expanding wind projects, which are mainly found in the south and coastal regions, there is a growing need for high-quality, corrosion-resistant bushings and bearings. These products are key components in ensuring the performance and long-lasting nature of wind turbines, which are exposed to adverse environmental conditions. Mexican producers are also picking up speed in manufacturing energy-efficient and high-strength bearings that can withstand harsh wind turbine operating conditions. The trend is bound to continue as Mexico attempts to hit its renewable energy targets and expand its clean energy market share worldwide.

Mexico Bearings and Bushings Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product type, material type, application, and distribution channel.

Product Type Insights:

• Ball Bearings
  • Cylindrical Roller Bearings
  • Tapered Roller Bearings
  • Spherical Roller Bearings
• Roller Bearings
• Bushings/Sleeve Bearings
• Mounted Bearings
• Specialty Bearings

The report has provided a detailed breakup and analysis of the market based on the product type. This includes ball bearings (cylindrical roller bearings, tapered roller bearings, and spherical roller bearings), roller bearings, bushings/sleeve bearings, mounted bearings, and specialty bearings.

Material Type Insights:

• Metal Bearings and Bushings
• Ceramic Bearings
• Polymer-Based Bearings and Bushings

A detailed breakup and analysis of the market based on the material type have also been provided in the report. This includes metal bearings and bushings, ceramic bearings, and polymer-based bearings and bushings.

Application Insights:

• Automotive
• Industrial Machinery
• Aerospace and Defense
• Railways
• Agriculture
• Construction and Mining Equipment
• Energy and Power
• Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes automotive, industrial machinery, aerospace and defense, railways, agriculture, construction and mining equipment, energy and power, and others.

Distribution Channel Insights:

• Original Equipment Manufacturers (OEMs)
• Aftermarket

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes original equipment manufacturers (OEMs) and aftermarket.

Regional Insights:

• Northern Mexico 
• Central Mexico 
• Southern Mexico 
• Others 

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Mexico, Central Mexico, Southern Mexico and others. 

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Mexico Bearings and Bushings Market News:

• On October 4, 2023, SKF opened a new greenfield production site in Monterrey, Mexico, with a SEK 700 Million (about USD 65.1 Million) investment to boost its footprint and competitiveness in the Americas. The factory will manufacture deep-groove ball bearings for North American automotive customers and tapered roller bearings for industrial and commercial vehicle applications, in line with SKF's strategic shift toward electric drivetrains. This effort promotes regionalization and boosts SKF's position in the electric and commercial vehicle industries. 

Mexico Bearings and Bushings Market Report Coverage:

Key Questions Answered in This Report:

• How has the Mexico bearings and bushings market performed so far and how will it perform in the coming years?
• What is the breakup of the Mexico bearings and bushings market on the basis of product type?
• What is the breakup of the Mexico bearings and bushings market on the basis of material type?
• What is the breakup of the Mexico bearings and bushings market on the basis of application?
• What is the breakup of the Mexico bearings and bushings market on the basis of distribution channel?
• What is the breakup of the Mexico bearings and bushings market on the basis of region?
• What are the various stages in the value chain of the Mexico bearings and bushings market? 
• What are the key driving factors and challenges in the Mexico bearings and bushings market?
• What is the structure of the Mexico bearings and bushings market and who are the key players?
• What is the degree of competition in the Mexico bearings and bushings market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Mexico bearings and bushings market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Mexico bearings and bushings market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Mexico bearings and bushings industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.