SKF Group
SKF Group is a Swedish bearing, sealing, and lubrication technology company founded in 1907, serving industrial and automotive OEMs globally across 130+ countries with approximately 38,743 employees and SEK 98.7 billion in 2024 revenue.
- Company typePublic
- Founded1907
- HeadquartersGothenburg, Sweden
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What SKF Group does
SKF Group (AB SKF) is a Swedish industrial technology company founded in 1907 and headquartered in Gothenburg, specializing in bearings, seals, lubrication systems, and increasingly digital condition monitoring solutions. The company operates across 130+ countries through two main segments — Industrial (marine, railway, heavy industries, energy, food and beverage) and Automotive (being prepared for separation as SKF Vertevo) — serving OEMs and aftermarket customers with approximately 38,743 employees globally and SEK 98,722 million in 2024 annual sales.
Its core product portfolio spans mechanical components (ball and roller bearings, sealing solutions, hybrid ceramic and magnetic bearings, lubrication pumps such as FlowMaster III) and digital platforms (Aptitude Insight unified condition monitoring, sensor-connected bearing systems, G-Tech Instruments diagnostic tools acquired in 2026). Underlying technology includes proprietary fiber-optic load sensing, tribology-informed machine learning, and remanufacturing processes that reduce carbon footprint by up to 90% compared to new bearing production.
SKF monetizes primarily through B2B hardware sales to OEMs and authorized distributor networks, supplemented by higher-margin aftermarket services, remanufacturing, and subscription-based condition monitoring. The company maintains a multi-channel go-to-market combining direct enterprise sales teams for key OEM accounts, an extensive authorized distributor network for aftermarket distribution, regional channel partnerships (e.g., CG Trading in Africa), and event-driven engagement through trade shows and the annual Tech & Innovation Summit. Recent strategic moves — the planned SKF Vertevo spin-off, TCS AI transformation partnership, G-Tech Instruments acquisition, and Anferra circular economy investment via SKF Ventures — indicate repositioning toward higher-margin digital and services revenue while executing operational rightsizing.
SKF Group firmographics
Firmographics- Name
- SKF Group
- Legal name
- AB SKF
- Website
- https://skf.com
- Company type
- Public
- Founded year
- 1907
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- SKF Group is a Swedish bearing, sealing, and lubrication technology company founded in 1907, serving industrial and automotive OEMs globally across 130+ countries with approximately 38,743 employees and SEK 98.7 billion in 2024 revenue.
- Ownership category
- akta.pro rank
SKF Group industry classification
Industry- Product category
- Industrial Bearings and Rotating Equipment Components
- NAICS
- Motor Vehicle Supplies and New Parts Merchant Wholesalers (42312), Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (4231), Merchant Wholesalers, Durable Goods (423)
- SIC
- Ball & Roller Bearings (3562), Wholesale-Motor Vehicle Supplies & New Parts (5013), Motor Vehicle Parts & Accessories (3714)
- akta.pro primary industry
- Automotive Aftermarket Parts Distribution (Light-Duty) (TLAKAOAA)
Keywords
Where SKF Group is headquartered
LocationHeadquarters
- HQ city
- Gothenburg
- HQ country
- Sweden
- HQ region
- Europe
Offices9 records
Markets served
SKF Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Bearing and Seal Products: SKF manufactures and sells bearings, seals, and related precision components to OEMs and aftermarket customers globally. This includes ball bearings, roller bearings, plain bearings, and sealing solutions for industrial and automotive applications.
- Aftermarket Services: High-margin aftermarket parts, remanufacturing, and service solutions leveraging the large installed base of SKF products. Includes lubrication systems, condition monitoring, and maintenance services.
- Condition Monitoring and Digital Solutions: Digital reliability solutions including monitoring platforms, sensors, and AI-powered predictive maintenance services, enhanced through G-Tech Instruments acquisition.
- Industrial and Automotive Segments: SKF operates through two main segments: Industrial (serving marine, railway, heavy industries, energy, food & beverage) and Automotive (to be separated as SKF Vertevo).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | B2B enterprise pricing for bearings, seals, and industrial components |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
SKF Group product offering
Product offeringCore offering
SKF manufactures and sells bearings (ball, roller, plain, magnetic, hybrid ceramic), seals, lubrication systems, and condition monitoring/digital reliability solutions to industrial and automotive OEMs and the aftermarket. It operates through Industrial (marine, railway, heavy industries, energy, food & beverage) and Automotive segments, with the Automotive unit being spun off as SKF Vertevo in Q4 2026. Revenue is generated primarily from hardware sales of components plus high-margin aftermarket services, remanufacturing, and subscription-based condition monitoring.
Product overview
SKF Group offers a comprehensive portfolio of bearing, sealing, and lubrication products combined with digital monitoring solutions. The core offering spans mechanical components (bearings, seals, spindle nuts) alongside condition monitoring technologies including the Aptitude Insight platform and acquired G-Tech Instruments diagnostic solutions. The company provides both products (magnetic bearings, hybrid ceramic bearings, FlowMaster III pumps) and services (remanufacturing, lubrication systems, predictive analytics). Recent strategic changes include the planned separation of the Automotive business as SKF Vertevo and acquisitions to strengthen condition monitoring capabilities.
Differentiator
Problem solved
Functional benefit
Brands
- SKF Vertevo: Renamed Automotive business being prepared for spin-off as separate company, targeting Q4 2026 listing on Nasdaq Stockholm
- Aptitude Insight
- FlowMaster III
- Scotseal X-Treme HD
- Classic Lock
- SKF Ventures
Quantifiable outcome
- 80% reduction in grease consumption (from 60,000 to 12,350 litres) in sugar mill lubrication implementation
- +3 more outcomes
Companies that use SKF Group
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
SKF Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability10 records
Feature8 records
SKF Group partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered strategic, flagship, minor and core.
- EinridestrategicPilot agreement to test Einride's autonomous electric trucks on public roads between SKF factories in Gothenburg. Joint application for permits to operate driverless vehicles on public roads in Sweden. Part of SCALE project supported by Swedish Energy Agency involving six partners including Toyota Material Handling Europe.
- Tata Consultancy Services (TCS)flagshipMulti-year strategic partnership for AI-led digital transformation across SKF's global operations. TCS provides end-to-end managed services spanning applications, infrastructure, data, end-user services, cybersecurity, and connectivity. Deploys AI-driven and agent-based workflows for manufacturing, supply chain, and customer-facing processes. Goal to make SKF an AI-native industrial manufacturer.
- Carnegie Clean EnergyminorSKF conducting final back-to-back PTO testing at its German facility for Carnegie Clean Energy's CETO wave energy unit destined for Biscay Marine Energy Platform (BiMEP) in Basque Country. Part of ACHIEVE Programme for wave energy commercialization.
- CG TradingcoreSKF's authorized distributor partnership for Africa region. Installed Single Line automatic grease lubrication system across six sugar mills for an unnamed prominent sugar producer, achieving 80% reduction in grease consumption.
- Sferical AIstrategicSKF joined Sferical AI as strategic compute partner, securing dedicated capacity on Sweden's sovereign AI supercomputer. Enables deployment of industrial AI at scale for predictive maintenance, quality control, tribology-informed machine learning, and R&D while keeping sensitive engineering data protected within European industrial ecosystem. Sferical AI co-founded by AstraZeneca, Ericsson, Saab, SEB, and Wallenberg Investments.
- DeeplifyminorGerman industrial AI startup conducting pilot projects with SKF for AI-powered industrial inspection software. Deeplify raised €2 million pre-seed funding with participation from D11Z Ventures, Vanagon Ventures, and EWOR. Technology reportedly reduces inspection times by up to 70%.
- G-Tech Instruments Inc.coreSKF signed agreement to acquire Taiwan-based G-Tech Instruments Inc., a specialist in condition monitoring and measuring instruments technology. Founded in 1998 with approximately $10 million in 2025 sales and 50 employees. The acquisition enhances SKF's condition monitoring portfolio and expands presence in Asia across marine, railway, heavy industries, energy, and food and beverage sectors. Expected to close within six months.
- Carco PRP GroupminorSKF completed divestment of precision elastomeric device (PED) operation in Elgin, Illinois to Carco PRP Group for $75 million enterprise value, concluding strategic review to exit non-core aerospace business lines.
- John Sample GroupcoreSKF acquired John Sample Group's Lubrication and Flow Management businesses, providers of lubrication management systems and services, to enhance capabilities in this area.
- Rubico Consulting ABcoreSKF completed acquisition of Swedish industrial consultancy firm specializing in signal data visualization and analysis to enhance analytics and IoT capabilities. Supports fiber-optic load sensing technology development and industrial innovation hub in Luleå.
Scale indicators12 records
Recent moves8 records
Expansion highlights6 records
SKF Group competitors and assessment
Company assessmentDirect peers
- Schaeffler Group: Schaeffler is a direct competitor to SKF across rolling element bearings, including its FAG and INA brands. It serves the same automotive and industrial OEM and aftermarket customers globally and is one of the two largest bearing manufacturers worldwide.
- NSK Ltd. NSK is a Japanese bearings manufacturer with a global footprint directly competing with SKF in ball and roller bearings for automotive and industrial applications, including a strong presence in Asia-Pacific.
- NTN Corporation: NTN, along with its SNR brand in Europe, directly competes with SKF in automotive wheel bearings, drivetrain components, and industrial bearings, with comparable global manufacturing and distribution networks.
- JTEKT Corporation: JTEKT (Koyo bearings) competes directly with SKF in automotive and industrial bearings, including steering systems and powertrain components, serving overlapping OEM customers in Japan, Europe, and North America.
- Timken Company: Timken is a direct competitor focused on tapered roller bearings, engineered bearings, and power transmission products for industrial and automotive markets, comparable to SKF's Industrial segment portfolio.
- Trelleborg AB: Trelleborg competes with SKF in sealing solutions and anti-vibration components for industrial and automotive customers, with overlapping engineering capabilities and end-market exposure.
Emerging players
- Rexnord Corporation: Rexnord (now part of Regal Rexnord) competes with SKF in bearings, gearing, and power transmission components for industrial markets, particularly heavy industries and material handling.
- Augury: Augury is an emerging player in AI-driven machine health and condition monitoring that overlaps with SKF's Aptitude Insight platform, targeting similar industrial customers with a software-first, sensor-plus-AI model.
Broad incumbents
- ABB Ltd: ABB overlaps with SKF as a broad industrial incumbent serving heavy industries, motors, and industrial automation, including condition monitoring services for rotating equipment that compete with SKF's Aptitude Insight platform.
- Emerson Electric: Emerson's industrial automation portfolio, including its Branson and AspenTech condition monitoring and process optimization offerings, competes with SKF's predictive maintenance and industrial AI capabilities across heavy industrial customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks1 record
Key highlights7 records
Customer concentration
SKF Group social profiles
Digital presenceSKF Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
SKF Group leadership team
Management profileNumber of profiles
Profiles5 records
SKF Group subsidiaries and ownership
Company hierarchySubsidiaries4 records
SKF Group funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SKF Group M&A and investment
M&A and investmentM&A10 records
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SKF Group
What does SKF Group do?
SKF manufactures and sells bearings (ball, roller, plain, magnetic, hybrid ceramic), seals, lubrication systems, and condition monitoring/digital reliability solutions to industrial and automotive OEMs and the aftermarket. It operates through Industrial (marine, railway, heavy industries, energy, food & beverage) and Automotive segments, with the Automotive unit being spun off as SKF Vertevo in Q4 2026. Revenue is generated primarily from hardware sales of components plus high-margin aftermarket services, remanufacturing, and subscription-based condition monitoring.
Is SKF Group a public or private company?
SKF Group is a public company. It is classified as public and is currently operating.
When was SKF Group founded?
SKF Group was founded in 1907. It employs 5,001 to 10,000 people.
Where is SKF Group based?
SKF Group is headquartered in Gothenburg, Sweden, in the Europe region.
How does SKF Group make money?
Four revenue lines are on record. Bearing and Seal Products are the primary driver. The others are aftermarket Services, condition Monitoring and Digital Solutions and industrial and Automotive Segments.
Who are SKF Group's main competitors?
Direct peers on record are Schaeffler Group, NSK Ltd., NTN Corporation, JTEKT Corporation, Timken Company and Trelleborg AB. Emerging players are Rexnord Corporation and Augury. Broad incumbents are ABB Ltd and Emerson Electric.
Does SKF Group have an API?
No public API is recorded for SKF Group.
What industry is SKF Group in?
SKF Group's product category is Industrial Bearings and Rotating Equipment Components. Its primary akta.pro industry code is TLAKAOAA, Automotive Aftermarket Parts Distribution (Light-Duty). Its NAICS code is 42312 and its SIC code is 3562.