SKF Key Stats
- Founded in 1907 in Gothenburg, Sweden as Svenska Kullagerfabriken
- 2024 Revenue: SEK 98.72 billion (approximately $9.3 billion USD)
- Global workforce of approximately 38,000 employees across 130 countries
- Operates 17,000 distributor locations worldwide with 108 manufacturing sites
- Holds approximately 25% market share in the global bearing industry
SKF (Svenska Kullagerfabriken) stands as the world’s largest bearing manufacturer and a pioneer in rotating equipment technology. The Sweden-based company provides bearings, seals, lubrication systems, and condition monitoring solutions to industries worldwide.
The company serves diverse sectors including automotive, aerospace, railways, renewable energy, and industrial machinery. SKF products play critical roles in applications ranging from General Electric turbines to Ferrari racing vehicles.
SKF operates through two main business segments: Industrial and Automotive. The Industrial segment serves original equipment manufacturers and aftermarket customers across various industries. The Automotive segment provides components for cars, trucks, and two-wheelers globally.
SKF History
SKF traces its origins to a Swedish textile factory where engineering innovation solved a persistent mechanical problem. The company evolved from a single patent to become a global industrial leader over more than a century of operations.
SKF Co-founders
SKF emerged from collaboration between an innovative engineer and an experienced industrialist who combined technical expertise with business acumen.
Swedish engineer and inventor who developed the multi-row self-aligning ball bearing in 1907 while working as an operations engineer at Gamlestadens Fabriker textile factory. He served as CEO until 1919 and later became chairman of the board.
Second-generation industrialist and first chairman of SKF from 1907 to 1937. He provided initial capital through Gamlestadens Fabriker AB and implemented corporate strategies that enabled rapid international expansion during the company’s formative decades.
SKF Competitors
SKF operates in a competitive global bearing market alongside major manufacturers from Germany, Japan, and the United States. Together with Schaeffler, SKF accounts for over 36% of global bearing industry revenue.
| Company | Headquarters | Specialty |
|---|---|---|
| Schaeffler Group | Herzogenaurach, Germany | Rolling bearings, linear motion products |
| NSK Ltd | Tokyo, Japan | Ball bearings, precision machinery |
| NTN Corporation | Osaka, Japan | Bearings, constant velocity joints |
| Timken Company | Canton, Ohio, USA | Tapered roller bearings, specialty steel |
| JTEKT Corporation | Osaka, Japan | Bearings, steering systems |
| Koyo Bearings | Osaka, Japan | Automotive and industrial bearings |
| NACHI-Fujikoshi | Toyama, Japan | Bearings, cutting tools, robotics |
| Minebea Mitsumi | Nagano, Japan | Miniature ball bearings, electronics |
| RBC Bearings | Oxford, Connecticut, USA | Aerospace and industrial bearings |
| NMB Technologies | Chatsworth, California, USA | Precision miniature bearings |
SKF Revenue
SKF generates revenue through product sales and services across Industrial and Automotive segments. The company reported SEK 98.72 billion in 2024 revenue, representing a 5% decline from the previous year amid challenging market conditions.
Revenue growth varies by region and industry cycle. Strong aftermarket demand and pricing strategies help maintain margin resilience during economic downturns.
SKF Marketcap
SKF maintains a market capitalization of approximately SEK 112 billion (around $12 billion USD) as of 2024. The company trades on the Stockholm Stock Exchange under ticker symbols SKF A and SKF B.
Market valuation reflects investor confidence in SKF’s global market position and dividend consistency. The company has reported profits every year for over seven decades.
SKF Acquisitions
SKF has pursued strategic acquisitions throughout its history to expand product offerings and geographic reach. The company focuses on targets that complement its core bearing and sealing technologies.
In 1990, SKF acquired Chicago Rawhide, a leading American manufacturer of fluid sealing devices founded in 1879. This purchase added bearing seals to SKF’s product portfolio and strengthened its position in the automotive aftermarket. Chicago Rawhide brought expertise developed over a century in the seal industry.
The 2006 acquisition spree marked a particularly active period. SKF paid SEK 1.76 billion for SNFA S.A.S., a Paris-based manufacturer of bearings for aerospace and machine tool industries with operations in France, Italy, and the United Kingdom. The same year brought Economos Austria GmbH into the fold, adding hydraulic and pneumatic seal capabilities for oil and gas, mining, and steel industries.
Earlier acquisitions include Jaeger Industrial of Taiwan in 2005, which added electromechanical actuators and control units. SKF also acquired ABBA, a Taiwanese linear actuator manufacturer, expanding its motion control offerings. The company purchased Willy Vogel AG of Germany to enter the lubricants and lubrication systems market.
SKF has also divested non-core businesses when appropriate. The company sold FlexLink, its conveyor systems subsidiary developed in the 1970s, as a separate company in 1997. Steel operations were reorganized and eventually exited entirely by 2006, allowing focus on core bearing and sealing technologies.