Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Magnet Bearings Market size was valued at USD 3.5 billion in 2024 and is projected to reach USD 5.6 billion by the end of 2037, rising at a CAGR of 3.8% during the forecast period, i.e., 2025-2037. In 2025, the industry of magnet bearings is assessed at USD 3.6 billion.
Magnetic bearings can support high rotational speeds, making them suitable for applications in industries such as oil and gas, power generation, and aerospace. Their ability to operate without physical contact reduces wear and tear, allowing machinery to function at higher speeds with improved reliability and longevity. A recent example illustrating the rising demand for high-speed machinery supported by magnetic bearings is JTEKT Corporation’s development of an advanced bearing evaluation test machine. In November 2024, JTEKT Corporation developed an advanced bearing test machine using magnetic bearings to achieve ultra-high speeds of up to 45,000 revolutions per minute. This technology enables frictionless operation, reducing wear and enhancing reliability, making it ideal for high-speed applications such as electric vehicle drive systems.
Continuous innovations in magnetic levitation have enhanced the performance and reliability of magnetic bearings. For instance, in December 2024, China developed a high-speed train using magnetic levitation technology, which is capable of reaching speeds up to 621 mph. This project utilizes magnetic levitation to minimize friction and provide unprecedented travel speeds that surpass those of conventional trains and even some aircraft. The integration of sophisticated control algorithms and sensor technologies in this system allows for precise control and real-time monitoring, ensuring stability and efficiency at high velocities.
Magnet Bearings Market: Growth Drivers and Challenges
Growth Drivers
- Growing automation in the industrial sector: The trend towards industrial automation and the adoption of Industry 4.0 initiatives have increased the demand for precise and controllable bearing systems. Magnetic bearings, with their ability to provide accurate control and positioning, play a crucial role in automated systems across manufacturing, aerospace, and transportation sectors. Integration of magnet bearings into automated processes enhances efficiency, reduces maintenance requirements, and supports the development of smart factories.
- Focus on energy efficiency and sustainability: With an increasing emphasis on reducing energy consumption and minimizing environmental impact, industries are turning to magnetic bearings for their energy-efficient properties. The focus on energy efficiency and sustainability also drives investments. For instance, in November 2023, SpinDrive, a Finnish cleantech company, secured USD 4.10 million in funding to advance its active magnetic bearing systems. These frictionless bearings eliminate the need for oil-based lubricants and significantly reduce maintenance requirements, aligning with global sustainability goals as they decrease industrial energy waste and pollution. By eliminating friction, magnetic bearings reduce energy losses and contribute to more sustainable operations.
Challenges
- High initial costs and complex installation: Magnetic bearings require advanced electromagnets, control systems, and backup power solutions, making them significantly more expensive than conventional ball or roller bearings. The high initial investment needed for procurement, installation, and maintenance often limits adoption, especially for small and mid-sized enterprises. Additionally, the complexity of integrating magnetic bearings into existing industrial systems necessitates skilled labor and specialized expertise, increasing both time and cost.
- Dependence on continuous power supply: Unlike traditional mechanical bearings, magnetic bearings require a constant power source to maintain levitation and operational stability. Any power disruption can cause system failures or require costly backup power solutions, adding to operational risks. This dependence tends to make these bearings less attractive for industries operating in remote or unreliable grid environments, where power stability is a concern.
Magnet Bearings Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
3.8% |
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Base Year Market Size (2024) |
USD 3.5 billion |
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Forecast Year Market Size (2037) |
USD 5.6 billion |
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Regional Scope |
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Magnet Bearings Segmentation
Type (Active Magnet Bearing, Passive Magnet Bearing, and Hybrid Magnet Bearing)
Active magnet bearing (AMB) segment is expected to capture around 46.4% magnet bearings market share by the end of 2037, due to its superior precision, efficiency, and real-time control capabilities. Industries such as power generation, oil & gas, and aerospace are increasingly adopting AMBs for their ability to operate at high speeds with minimal wear and maintenance. Advancements in digital control systems and IoT-based monitoring have enhanced the stability and responsiveness of AMBs, making them ideal for predictive maintenance strategies. Additionally, the global focus on energy efficiency and sustainable industrial solutions is driving demand for AMBs in renewable energy and high-performance rotating machinery applications.
End use (Power, Oil & Gas, Petrochemicals)
The power segment in magnet bearings market is predicted to register a remarkable share through 2037, driven by the need for high efficiency, low-maintenance rotating equipment in power plants. Gas, steam, and renewable energy turbines increasingly rely on magnetic bearings to reduce energy losses, enhance reliability, and extend operational lifespan. The shift towards clean energy and carbon reduction initiatives is encouraging the adoption of these bearings in wind and hydroelectric power generation.
Our in-depth analysis of the global magnet bearings market includes the following segments:
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Type |
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End use |
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Application |
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Customize this ReportMagnet Bearings Industry - Regional Scope
North America Market Analysis
North America magnet bearings market is projected to hold revenue share of more than 42.8% by 2037, due to increasing demand for energy-efficient and high-speed rotating machinery across industries such as aerospace, power generation, and manufacturing. Advancements in Industry 4.0 and smart manufacturing are driving adoption as magnetic bearings enable real-time monitoring and predictive maintenance. Additionally, government initiatives supporting industrial innovation and energy efficiency contribute to the demand for magnet bearings.
The magnet bearings market in the U.S. is expanding due to the increasing adoption in advanced aerospace propulsion systems and high-efficiency industrial cooling applications. Federal energy policies promoting sustainability and reduced carbon footprints are driving demand for frictionless, maintenance-free solutions. For instance, the U.S. Department of Energy’s Initiative to replace traditional chillers with modern, water-cooled variable flow magnetic bearing chillers at the Savannah River Site (SRS) in January 2024 highlights the growth of magnetic bearings in the U.S. This project aims to reduce electricity consumption and aligns with the DOE’s energy optimization goals reflecting the broader trend of adopting energy efficient technologies in industrial applications. Additionally, research collaborations between U.S. universities and industry leaders are accelerating technological advancements in magnetic bearing systems.
The magnet bearings market in Canada is growing rapidly, owing to increasing investments in clean energy and hydroelectric power generation, where frictionless bearing systems improve efficiency. The country’s focus on reducing industrial emissions has led to greater adoption in HVAC and sustainable manufacturing applications. Government-backed innovation programs are supporting research into advanced bearing technologies for aerospace and high-speed rail projects. Additionally, Canada’s expanding oil sands sector is integrating magnetic bearings to enhance equipment reliability and reduce maintenance costs in harsh environments.
Asia Pacific Market Analysis
The Asia Pacific magnet bearings market is anticipated to grow at the fastest rate from 2025 to 2037 due to rapid industrial automation and the growing adoption of high-speed rail networks, particularly in China and Japan. As governments and industries prioritize energy efficiency, increasing investments in renewable energy, such as wind and hydroelectric power, are fueling demand for frictionless bearing systems. Additionally, the rise of precision manufacturing is accelerating the adoption of magnetic bearings in high-performance machinery.
The magnet bearings market in China is speedily growing due to the country’s strong push for advanced industrial automation and smart manufacturing under the Made in China 2025 initiative. The rapid growth of high-speed magnetic levitation technology trains and next-generation metro systems drives demand for frictionless, high-efficiency bearing solutions. Additionally, increased investments in aerospace technologies and energy-efficient cooling systems are accelerating adoption across various industries.
The South Korea magnet bearings market is rising due to the country’s investment in semiconductor manufacturing, where ultra-precise, frictionless bearings enhance equipment efficiency. The expansion of next-generation nuclear fusion research, including the KSTAR project, is also driving demand for advanced bearing technologies. Additionally, South Korea’s focus on hydrogen energy and fuel systems is accelerating the adoption of magnetic bearings in clean energy applications.
Companies Dominating the Magnet Bearings Landscape
- SKF AB
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Calnetix Technologies
- Siemens AG
- Mecos AG
- Foshan Genesis
- Synchrony
- Celeroton AG
- Waukesha Bearings Corporation
The leading companies in the magnet bearings market are known for their innovation in high-performance bearing solutions. These top companies specialize in energy-efficient frictionless bearing systems for industries such as power generation, aerospace, and industrial automation. Their focus on advanced digital control systems, predictive maintenance, and sustainable engineering gives them a competitive edge in the market. Here are some leading players in the magnet bearings market:
In the News
- In November 2023, SKF acquired 2C Composites, a German company specializing in high-performance fiber composites. This acquisition ensures SKF has a steady supply of advanced composite materials to improve its magnetic bearings.
- In May 2023, SKF and Wolong Electric Group expanded their business in the magnetic bearings and high-speed levitation motors market. SKF opened a new plant in Tangier, Morocco, to produce magnetic bearings, and both companies are working together to develop high-speed motor and drive products. SKF invested USD 4.96 million to increase operations to meet growing demand for magnetic bearings used in turbomachinery, hydrogen gas liquification, and oil-free industrial compressors.
Author Credits: Richa Gupta
- Report ID: 7464
- Published Date: Apr 08, 2025
- Report Format: PDF, PPT
