In 2021, the global Automotive Bearing Market is valued at USD 171 Billion. The market is likely to grow at a y-o-y of 4.94% y-o-y in 2022 to reach USD 180 Billion.
APEJ (Asia Pacific excluding Japan) is the largest market for automotive bearing market and is set to grow at CAGR 5.2% through 2022.
They ensure efficiency and speed enhancement of the vehicle at the same time maintaining balance. Automotive bearings involve a ball with an external and internal frictionless metal surface that support the smooth movement of the bearings.
Future Market Insights has put forth a complete analysis of the global automotive bearing market by carrying out research on the emerging automotive sector and the bearing industry across key regions in the globe.
The Automotive Bearing Market is expanding steadily due to the growing demand for high-performance, low-friction, and long-lasting components that enhance vehicle efficiency and reliability. Bearings are essential to the smooth operation of various automotive systems, including wheels, transmissions, engines, and drivetrains.
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Key Takeaways
Bearings play a critical role in reducing friction and wear, thereby improving vehicle performance
Rising production of passenger and commercial vehicles is fueling market demand
Growing focus on fuel efficiency and lightweight components is driving innovation
Increasing adoption of electric and hybrid vehicles introduces new bearing design requirements
OEMs are emphasizing low-noise and high-durability bearings for advanced applications
Key Drivers
Expansion of the automotive industry across emerging economies
Rising demand for high-performance and durable vehicle components
Surge in electric vehicle (EV) production requiring specialized bearing systems
Stringent emission regulations pushing development of energy-efficient solutions
Growth in automotive aftermarket services supporting bearing replacement and upgrades
Growth Opportunities
Development of ceramic and polymer-based lightweight bearings
Innovations in sealed and sensor-integrated bearings for smart applications
Increased focus on electrified powertrains and battery systems in EVs
Expanding use of automated and precision manufacturing techniques
Strategic collaborations between OEMs and Tier-1 bearing suppliers
Ball Bearings to Roll to the Top
By bearing type, the ball bearings segment is expected to be the largest segment with respect to market value. In 2017, this segment lead the global market by bearing type and by the end of 2022, this segment is estimated to reach a valuation of about USD 35.4 Billion growing at a steady CAGR during the period of forecast.
Ball bearings are the used on a large scale in numerous applications owing to their load bearing capacity, strength, wear resistance and overall performance.
Revenue Generated from Compact Passenger Cars is Comparatively High
Bearings are used in different vehicle types. In the vehicle type category, compact passenger cars segment is expected to show high usage of automotive bearings owing to which they portray high market share as of 2017.
This trend is expected to continue over the forecast period, thus reflecting dominance over other vehicle type segments in the global market. The compact passenger cars segment is projected to grow at 5% CAGR during the period of forecast.
Key Applications
Wheel Hub Assemblies – Supporting smooth and stable wheel rotation
Transmission Systems – Ensuring efficient gear operation and torque transfer
Engine Components – Reducing friction in moving parts such as crankshafts and camshafts
Electric Motors & Drivetrains – High-precision bearings for EV propulsion systems
Steering Systems – Enhancing handling and response with low-resistance movement
Detailed Market Study: Full Report and Analysis
https://www.futuremarketinsights.com/reports/automotive-bearings-market
Key Players
SKF Group
NSK Ltd.
Schaeffler AG
NTN Corporation
JTEKT Corporation
Timken Company
RBC Bearings Inc.
ILJIN Group
MinebeaMitsumi Inc.
C&U Group
Key Segmentations
By Bearing Type – Ball Bearings, Roller Bearings, Plain Bearings, Thrust Bearings
By Vehicle Type – Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles
By Application – Engine, Transmission, Wheel Hub, Steering, Drivetrain, Others
By Sales Channel – OEM, Aftermarket
By Region – North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
