Global Automotive Bearings Market Size, Share and Trends Analysis Report, By Bearing Type (Ball Bearing, Roller Bearing, and Others), By Vehicle Type (Passenger Cars, Commercial Vehicles, and Two-Wheeler), By Distribution Channel (OEM and Aftermarket) Forecast Period (2022-2028)

The global automotive bearings market is anticipated to grow at a CAGR of 6.8% during the forecast period (2022-2028). Automakers all over the globe are concentrating on reducing vehicle’s overall weight in order to enhance efficiency and reduce carbon dioxide (CO2) emissions. Lightweight bearings make a substantial contribution to vehicle weight reduction. Bearing manufacturers are working on using lower tolerance and increased forging processes in the manufacturing to stay competitive and comply with new standards. Furthermore, lightweight bearings are in high demand in current cars and sport utility vehicles (SUVs) due to their improved durability, rigidity, and weightlessness. As a result of the increased focus on vehicle weight reduction, the automotive bearing industry is expected to develop.

Bearings are required for the operation of all moving parts in automobiles. Bearings improve vehicle performance, allow huge loads to be carried, and reduce friction. Engines, gearboxes, transmissions, wheels, steering, electrical motors, and pumps are just a few of the important sub-systems that employ bearings. Bearings are also required for the smooth operation of wipers, rearview mirrors, doors, and bonnet hinges. Since, as the number of models and new types of cars entering the market grows, the demand for bearings is expected to rise significantly. Automobile sales are also likely to rise in the future years, due to a larger middle-class population and rising disposable income which indirectly create demand for auto parts and component.

The inclusion of sensor units in bearings is the latest trend among automobile providers with the purpose of increasing performance. Sensor bearings are most commonly used in automotive wheel applications. Speed sensors are widely found in automotive hub unit bearings, which send wheel speed data to the anti-lock brake system (ABS) and traction control units of two-wheelers and light vehicles. Sensor bearing units also aid in the digital monitoring of rotation speed, axial movement, deceleration, acceleration, and load-carrying capability in both passenger and commercial vehicles.

Some major players in the market include ILJIN co., ltd., JTEKT Corp., RBC Bearings Incorp., Schaeffler AG, and THE TIMKEN CO., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.

Players and Their Products

• The TIMKEN CO. offers Timken® Ball Bearings. Timken® micro bearings are available in inch and metric diameters and can be used for a radial retainer, pivot, thrust, high-speed radial, angular contact, and full ball complement applications.
• Schaeffler AG, a bearing and seal manufacturer, is creating tiny and lightweight bearings that are meant to function at exceptionally high speeds and have improved stiffness, higher load-carrying capacity, and longer working life.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Bearing Type
  • By Vehicle Type
  • By Distribution Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- ILJIN co., ltd., JTEKT Corp., RBC Bearings Incorp., Schaeffler AG, THE TIMKEN CO., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive Bearings Market Report by Segment

By Bearing Type

• Ball Bearing
• Roller Bearing
• Others

By Vehicle Type

• Passenger Car
• Commercial Vehicle
• Two-Wheeler

By Distribution Channel

• OEM
• Aftermarket

Global Automotive Bearings Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

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

Rest of the World

• Latin America
• Middle East & Africa