Which is the fastest growing region in Automotive Bearings Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Bearings Market?

In 2024, the Asia Pacific accounts for the largest market share in Automotive Bearings Market. Read More

What years does this Automotive Bearings Market cover?

The report covers the Automotive Bearings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Bearings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive Bearings Market Size

Market Size of Automotive Bearings Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
CAGR	> 4.00 %
Fastest Growing Market	Asia Pacific
Largest Market	Asia Pacific
Market Concentration	High
Major Players *Disclaimer: Major Players sorted in no particular order

Automotive Bearings Market Analysis

The global automotive bearings market is expected to register a CAGR of over 4% during the forecast period, 2020 - 2025.

In a traditional hatchback, an average of about 60 bearings are fitted, while the number goes up in the case of sedans and SUVs. Additionally, bearings add significant weight to the vehicle and as a result, OEMs are working continually toward building lighter units.

Some of the major factors driving the growth of the market are the enactment of the stringent Environment Protection Agency (EPA) regulations and Corporate Average Fuel Economy (CAFÉ) standards, a focus on lightweight vehicles, the increase in the commercial vehicle demand and sales in the European region, and the rise in automobile production and sales, especially in Asia-Pacific. However, the rise in aluminum prices, especially in the United States, may hinder the growth of the market in the country.

Regionally, in 2019, Asia-Pacific dominated the market studied and accounted for over 47% of the total market. The prime reason for this was the rise in production and sales of automobiles in the region, especially in India, Japan, and Southeast Asian countries.

Automotive Bearings Industry Segmentation

Bearings are mechanical devices that are employed to reduce friction between rotating equipment. The automotive bearings market has been segmented by product and vehicle type.

Product Type
		Plain Bearings
		Rolling Element Bearings
		Ball Bearings

Vehicle Type
		Passenger Cars
		Commercial Vehicles

Geography

North America
	United States
	Canada
	Rest of North America

Europe
	Germany
	United Kingdom
	France
	Italy
	Rest of Europe

Asia-Pacific
	China
	Japan
	India
	South Korea
	Rest of Asia-Pacific

Rest of the World
	Brazil
	South Africa
	Other Countries

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Automotive Bearings Market Size Summary

The automotive bearings market is poised for steady growth, driven by several key factors including stringent environmental regulations and a focus on lightweight vehicles. The demand for automotive bearings is closely tied to the production and sales of vehicles, with significant contributions from the Asia-Pacific region, particularly China, Japan, and India. The market is characterized by a diverse range of rolling element bearings, such as tapered, needle, spherical, and cylindrical rollers, which are integral to vehicle systems like engines, transmissions, and wheels. Major manufacturers like SKF, NSK, Schaeffler, and JTEKT are expanding their production facilities, especially in Asia-Pacific, to meet the rising demand. Innovations in bearing technology, such as low-friction transmission bearings and high-performance hub units, are also shaping the competitive landscape.

Despite challenges like fluctuating aluminum prices and declining vehicle sales in certain regions, the automotive bearings market remains robust. The market's competitive nature is underscored by numerous joint ventures and production expansions, particularly in Asian countries. Companies are leveraging strategic mergers and technological advancements to enhance their product offerings and market presence. Initiatives like India's Make in India are fostering investments in automotive components, further bolstering market growth. The introduction of innovative materials, such as bioplastic heat-resistant cages for rolling bearings, highlights the industry's commitment to sustainability and performance. Overall, the automotive bearings market is expected to continue its upward trajectory, supported by ongoing developments and regional growth dynamics.

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Automotive Bearings Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Drivers
2. 1.2 Market Restraints
3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis
  1. 1.3.1 Threat of New Entrants
  2. 1.3.2 Bargaining Power of Buyers/Consumers
  3. 1.3.3 Bargaining Power of Suppliers
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION
1. 2.1 Product Type
  1. 2.1.1 Plain Bearings
  2. 2.1.2 Rolling Element Bearings
  3. 2.1.3 Ball Bearings
2. 2.2 Vehicle Type
  1. 2.2.1 Passenger Cars
  2. 2.2.2 Commercial Vehicles
3. 2.3 Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Rest of North America
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 France
    4. 2.3.2.4 Italy
    5. 2.3.2.5 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 Japan
    3. 2.3.3.3 India
    4. 2.3.3.4 South Korea
    5. 2.3.3.5 Rest of Asia-Pacific
  4. 2.3.4 Rest of the World
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 South Africa
    3. 2.3.4.3 Other Countries