PUBLISHER: BIS Research | PRODUCT CODE: 1661671
PUBLISHER: BIS Research | PRODUCT CODE: 1661671
Asia-Pacific Electric Vehicle Bearings Market: Focus on Application, Product, and Country-wise Analysis - Analysis and Forecast, 2024-2034
Introduction to Asia-Pacific Electric Vehicle Bearings Market
The Asia-Pacific electric vehicle (EV) bearings market is projected to reach $16.58 billion by 2034 from $5.06 billion in 2024, growing at a CAGR of 12.6% during the forecast period 2024-2034. Electric vehicle (EV) bearings are specialized parts made to satisfy the special requirements of EVs, such as higher speeds, increased load capacities, and enhanced durability under different torque conditions. These bearings are essential for reducing friction and enhancing the functionality of wheels, gearboxes, and electric motors, guaranteeing seamless and effective operation.
Continuous innovation in bearing technology is required due to the new stress profiles and operating conditions brought about by the switch from internal combustion engines to electric motors. Increasing investments in advanced manufacturing, government incentives for EV adoption, and the growing emphasis on sustainable transportation are driving the demand for high-performance, energy-efficient EV bearings in APAC.
| KEY MARKET STATISTICS | |
|---|---|
| Forecast Period | 2024 - 2034 |
| 2024 Evaluation | $5.06 Billion |
| 2034 Forecast | $16.58 Billion |
| CAGR | 12.6% |
Prominent APAC automakers and suppliers are making significant investments in specialized bearing solutions to improve EV longevity, dependability, and efficiency. Therefore, EV bearing technology is becoming a key area of growth and innovation in the APAC automotive supply chain, supporting the region's transition toward electrified mobility and a low-carbon future.
Market Introduction
The growing electric vehicle (EV) industry, government programs encouraging electric mobility, and developments in bearing technology are all contributing to the market's explosive growth in Asia. High-performance, long-lasting, and energy-efficient EV bearings are becoming more and more necessary as the area switches from internal combustion engines to electric motors. These specialty bearings are essential for lowering friction, increasing efficiency, and guaranteeing the seamless operation of wheels, gearboxes, and electric motors.
Load capacity, heat resistance, and durability are being improved by the growing use of high-speed, low-friction bearings as well as advancements in ceramic and hybrid bearing materials. The demand for lightweight parts to improve vehicle performance and battery efficiency is also driving market growth. Predictive maintenance using real-time monitoring and smart bearing integration is also gaining traction, reducing operational costs and improving reliability.
Leading APAC automotive manufacturers and suppliers are investing heavily in next-generation bearing solutions to meet rising demand. The market is being strengthened by the localization of supply chains, the growth of EV manufacturing facilities, and higher R&D expenditures. The market for EV bearings is still a crucial component of the automotive ecosystem in Asia Pacific as the region continues its shift to more environmentally friendly and electric modes of transportation.
Market Segmentation
Segmentation 1: by Propulsion
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Segmentation 2: by Application
- Gearbox/Transmission
- Motor
- E-Axle
- Wheel
- Others
Segmentation 3: by Vehicle
- Passenger Vehicle
- Commercial Vehicle
Segmentation 4: by Sales Channel
- OEM
- Aftermarket
Segmentation 5: by Product
- Roller Bearing
- Ball Bearing
Segmentation 6: by Material
- Steel
- Ceramic
- Polymer
- Other
Segmentation 7: by Region
- Asia-Pacific - China, India, Japan, South Korea, and Rest-of-Asia-Pacific
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of products and applications for Asia-Pacific electric vehicle bearings. Moreover, the study provides the reader with a detailed understanding of the electric vehicle bearings market by application on the basis of propulsion (battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV)), on the basis of application (gearbox/transmission, motor, e-axle, wheel, and other), on the basis of vehicle (passenger vehicle and commercial vehicle), on the basis of sales channel (OEM and aftermarket), product on the basis of product (roller bearing and ball bearing), and material (steel, ceramic, polymer, and other).
Growth/Marketing Strategy: The Asia-Pacific electric vehicle (EV) bearings market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been partnerships and contracts to strengthen their position in the electric vehicle (EV) bearings market.
Competitive Strategy: Key players in the Asia-Pacific electric vehicle bearings market analyzed and profiled in the study involve major companies offering electric vehicle bearings designed for various applications. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies profiled for the electric vehicle bearings market have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts.
Some of the prominent companies in this market are:
- NSK Ltd.
- NTN Corporation
- JTEKT Corporation
- NEI Ltd.
- NRB Bearings
- ILJIN co., ltd.
- C&U Company Limited
- NACHI-FUJIKOSHI CORP
Table of Contents
Executive Summary
Scope and Definition
1 Markets
- 1.1 Trends: Current and Future Impact Assessment
- 1.1.1 Low-Friction Electric Vehicle Bearings
- 1.1.2 High-Speed Bearings
- 1.1.3 Hybrid Bearings for Electric Pitting Prevention
- 1.1.4 Low-Friction Lubricants
- 1.2 Technology Roadmap
- 1.3 Supply Chain Overview
- 1.3.1 Supply Chain and Identifying Risks within the Supply Chain
- 1.3.2 Value Chain Analysis
- 1.3.3 Market Map
- 1.4 Ecosystem/Ongoing Programs
- 1.4.1 Consortiums and Associations
- 1.4.2 Government Programs and Initiatives (Electric Vehicles)
- 1.5 Comparative Analysis of Bearing Material Selection
- 1.5.1 Pricing Analysis
- 1.5.2 OEM Preference
- 1.6 Market Dynamics Overview
- 1.6.1 Business Drivers
- 1.6.1.1 Increasing Adoption of Electric Vehicles
- 1.6.1.2 Technological Advancements in Bearing Material and Design
- 1.6.1.3 Rising Investment in EV Infrastructure
- 1.6.2 Business Challenges
- 1.6.2.1 High Cost of Advanced Materials
- 1.6.2.2 Technological Complexity and Manufacturing Challenges
- 1.6.2.3 Dependence on EV Market Growth
- 1.6.3 Business Opportunities
- 1.6.3.1 Expansion into Commercial and Industrial EV Segments
- 1.6.3.2 Integration of Smart Technologies
- 1.6.1 Business Drivers
2 Regions
- 2.1 Regional Summary
- 2.2 Asia-Pacific
- 2.2.1 Markets
- 2.2.1.1 Regional Overview
- 2.2.1.2 Key Market Participants
- 2.2.1.3 Driving Factors for Market Growth
- 2.2.1.4 Factors Challenging the Market
- 2.2.1.5 Analyst View
- 2.2.2 Application
- 2.2.3 Product
- 2.2.4 Asia-Pacific Electric Vehicle Bearings Market (by Country)
- 2.2.4.1 China
- 2.2.4.1.1 Application
- 2.2.4.1.2 Product
- 2.2.4.2 India
- 2.2.4.2.1 Application
- 2.2.4.2.2 Product
- 2.2.4.3 Japan
- 2.2.4.3.1 Application
- 2.2.4.3.2 Product
- 2.2.4.4 South Korea
- 2.2.4.4.1 Application
- 2.2.4.4.2 Product
- 2.2.4.5 Rest-of-Asia-Pacific
- 2.2.4.5.1 Application
- 2.2.4.5.2 Product
- 2.2.4.1 China
- 2.2.1 Markets
3 Markets - Competitive Benchmarking & Company Profiles
- 3.1 Next Frontiers
- 3.1.1 NSK Ltd.
- 3.1.1.1 Overview
- 3.1.1.2 Top Products/Product Portfolio
- 3.1.1.3 Top Competitors
- 3.1.1.4 Target Customers
- 3.1.1.5 Key Personnel
- 3.1.1.6 Analyst View
- 3.1.1.7 Market Share, 2023
- 3.1.2 NTN Corporation
- 3.1.2.1 Overview
- 3.1.2.2 Top Products/Product Portfolio
- 3.1.2.3 Top Competitors
- 3.1.2.4 Target Customers
- 3.1.2.5 Key Personnel
- 3.1.2.6 Analyst View
- 3.1.2.7 Market Share, 2023
- 3.1.3 JTEKT Corporation
- 3.1.3.1 Overview
- 3.1.3.2 Top Products/Product Portfolio
- 3.1.3.3 Top Competitors
- 3.1.3.4 Target Customers
- 3.1.3.5 Key Personnel
- 3.1.3.6 Analyst View
- 3.1.3.7 Market Share, 2023
- 3.1.4 NEI Ltd.
- 3.1.4.1 Overview
- 3.1.4.2 Top Products/Product Portfolio
- 3.1.4.3 Top Competitors
- 3.1.4.4 Target Customers
- 3.1.4.5 Key Personnel
- 3.1.4.6 Analyst View
- 3.1.4.7 Market Share, 2023
- 3.1.5 NRB Bearings
- 3.1.5.1 Overview
- 3.1.5.2 Top Products/Product Portfolio
- 3.1.5.3 Top Competitors
- 3.1.5.4 Target Customers
- 3.1.5.5 Key Personnel
- 3.1.5.6 Analyst View
- 3.1.5.7 Market Share, 2023
- 3.1.6 ILJIN co., ltd.
- 3.1.6.1 Overview
- 3.1.6.2 Top Products/Product Portfolio
- 3.1.6.3 Top Competitors
- 3.1.6.4 Target Customers
- 3.1.6.5 Key Personnel
- 3.1.6.6 Analyst View
- 3.1.6.7 Market Share, 2023
- 3.1.7 C&U Company Limited
- 3.1.7.1 Overview
- 3.1.7.2 Top Products/Product Portfolio
- 3.1.7.3 Top Competitors
- 3.1.7.4 Target Customers
- 3.1.7.5 Key Personnel
- 3.1.7.6 Analyst View
- 3.1.7.7 Market Share, 2023
- 3.1.8 NACHI-FUJIKOSHI CORP
- 3.1.8.1 Overview
- 3.1.8.2 Top Products/Product Portfolio
- 3.1.8.3 Top Competitors
- 3.1.8.4 Target Customers
- 3.1.8.5 Key Personnel
- 3.1.8.6 Analyst View
- 3.1.8.7 Market Share, 2023
- 3.1.1 NSK Ltd.
4 Research Methodology
- 4.1 Data Sources
- 4.1.1 Primary Data Sources
- 4.1.2 Secondary Data Sources
- 4.1.3 Data Triangulation
- 4.2 Market Estimation and Forecast
List of Figures
- Figure 1: Electric Vehicle Bearings Market (by Region), 2023, 2026, and 2034
- Figure 2: Asia-Pacific Electric Vehicle Bearings Market (by Application), 2023, 2026, and 2034
- Figure 3: Asia-Pacific Electric Vehicle Bearings Market (by Propulsion Type), 2023, 2026, and 2034
- Figure 4: Asia-Pacific Electric Vehicle Bearings Market (by Vehicle Type), 2023, 2026, and 2034
- Figure 5: Asia-Pacific Electric Vehicle Bearings Market (by Sales Channel), 2023, 2026, and 2034
- Figure 6: Asia-Pacific Electric Vehicle Bearings Market (by Product), 2023, 2026, and 2034
- Figure 7: Asia-Pacific Electric Vehicle Bearings Market (by Material), 2023, 2026, and 2034
- Figure 8: Electric Vehicle Bearings Market, Recent Developments
- Figure 9: Impact Analysis of Market Navigating Factors, 2023-2034
- Figure 10: China Electric Vehicle Bearings Market, $Million, 2023-2034
- Figure 11: India Electric Vehicle Bearings Market, $Million, 2023-2034
- Figure 12: Japan Electric Vehicle Bearings Market, $Million, 2023-2034
- Figure 13: South Korea Electric Vehicle Bearings Market, $Million, 2023-2034
- Figure 14: Rest-of-Asia-Pacific Electric Vehicle Bearings Market, $Million, 2023-2034
- Figure 15: Strategic Initiatives, 2020-2024
- Figure 16: Share of Strategic Initiatives, 2020-2024
- Figure 17: Data Triangulation
- Figure 18: Top-Down and Bottom-Up Approach
- Figure 19: Assumptions and Limitations
List of Tables
- Table 1: Market Snapshot
- Table 2: Electric Vehicle Bearings Market, Opportunities
- Table 3: Electric Vehicle Bearings Market (by Region), $Million, 2023-2034
- Table 4: Electric Vehicle Bearings Market (by Region), Million Units, 2023-2034
- Table 5: Asia-Pacific Electric Vehicle Bearings Market (by Application), $Million, 2023-2034
- Table 6: Asia-Pacific Electric Vehicle Bearings Market (by Application), Million Units, 2023-2034
- Table 7: Asia-Pacific Electric Vehicle Bearings Market (by Propulsion), $Million, 2023-2034
- Table 8: Asia-Pacific Electric Vehicle Bearings Market (by Propulsion), Million Units, 2023-2034
- Table 9: Asia-Pacific Electric Vehicle Bearings Market (by Vehicle), $Million, 2023-2034
- Table 10: Asia-Pacific Electric Vehicle Bearings Market (by Vehicle), Million Units, 2023-2034
- Table 11: Asia-Pacific Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 12: Asia-Pacific Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 13: Asia-Pacific Electric Vehicle Bearings Market (by Product), $Million, 2023-2034
- Table 14: Asia-Pacific Electric Vehicle Bearings Market (by Product), Million Units, 2023-2034
- Table 15: Asia-Pacific Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 16: Asia-Pacific Electric Vehicle Bearings Market (by Material), Million Units, 2023-2034
- Table 17: China Electric Vehicle Bearings Market (by Application), $Million, 2023-2034
- Table 18: China Electric Vehicle Bearings Market (by Application), Million Units, 2023-2034
- Table 19: China Electric Vehicle Bearings Market (by Propulsion), $Million, 2023-2034
- Table 20: China Electric Vehicle Bearings Market (by Propulsion), Million Units, 2023-2034
- Table 21: China Electric Vehicle Bearings Market (by Vehicle), $Million, 2023-2034
- Table 22: China Electric Vehicle Bearings Market (by Vehicle), Million Units, 2023-2034
- Table 23: China Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 24: China Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 25: China Electric Vehicle Bearings Market (by Product), $Million, 2023-2034
- Table 26: China Electric Vehicle Bearings Market (by Product), Million Units, 2023-2034
- Table 27: China Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 28: China Electric Vehicle Bearings Market (by Material), Million Units, 2023-2034
- Table 29: India Electric Vehicle Bearings Market (by Application), $Million, 2023-2034
- Table 30: India Electric Vehicle Bearings Market (by Application), Million Units, 2023-2034
- Table 31: India Electric Vehicle Bearings Market (by Propulsion), $Million, 2023-2034
- Table 32: India Electric Vehicle Bearings Market (by Propulsion), Million Units, 2023-2034
- Table 33: India Electric Vehicle Bearings Market (by Vehicle), $Million, 2023-2034
- Table 34: India Electric Vehicle Bearings Market (by Vehicle), Million Units, 2023-2034
- Table 35: India Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 36: India Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 37: India Electric Vehicle Bearings Market (by Product), $Million, 2023-2034
- Table 38: India Electric Vehicle Bearings Market (by Product), Million Units, 2023-2034
- Table 39: India Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 40: India Electric Vehicle Bearings Market (by Material), Million Units, 2023-2034
- Table 41: Japan Electric Vehicle Bearings Market (by Application), $Million, 2023-2034
- Table 42: Japan Electric Vehicle Bearings Market (by Application), Million Units, 2023-2034
- Table 43: Japan Electric Vehicle Bearings Market (by Propulsion), $Million, 2023-2034
- Table 44: Japan Electric Vehicle Bearings Market (by Propulsion), Million Units, 2023-2034
- Table 45: Japan Electric Vehicle Bearings Market (by Vehicle), $Million, 2023-2034
- Table 46: Japan Electric Vehicle Bearings Market (by Vehicle), Million Units, 2023-2034
- Table 47: Japan Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 48: Japan Electric Vehicle Bearings Market (by Sales Channel), Million Units, 2023-2034
- Table 49: Japan Electric Vehicle Bearings Market (by Product), $Million, 2023-2034
- Table 50: Japan Electric Vehicle Bearings Market (by Product), Million Units, 2023-2034
- Table 51: Japan Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 52: Japan Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 53: South Korea Electric Vehicle Bearings Market (by Application), $Million, 2023-2034
- Table 54: South Korea Electric Vehicle Bearings Market (by Application), Million Units, 2023-2034
- Table 55: South Korea Electric Vehicle Bearings Market (by Propulsion), $Million, 2023-2034
- Table 56: South Korea Electric Vehicle Bearings Market (by Propulsion), Million Units, 2023-2034
- Table 57: South Korea Electric Vehicle Bearings Market (by Vehicle), $Million, 2023-2034
- Table 58: South Korea Electric Vehicle Bearings Market (by Vehicle), Million Units, 2023-2034
- Table 59: South Korea Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 60: South Korea Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 61: South Korea Electric Vehicle Bearings Market (by Product), $Million, 2023-2034
- Table 62: South Korea Electric Vehicle Bearings Market (by Product), Million Units, 2023-2034
- Table 63: South Korea Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 64: South Korea Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 65: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Application), $Million, 2023-2034
- Table 66: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Application), Million Units, 2023-2034
- Table 67: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Propulsion), $Million, 2023-2034
- Table 68: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Propulsion), Million Units, 2023-2034
- Table 69: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Vehicle), $Million, 2023-2034
- Table 70: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Vehicle), Million Units, 2023-2034
- Table 71: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Sales Channel), $Million, 2023-2034
- Table 72: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Sales Channel), Million Units, 2023-2034
- Table 73: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Product), $Million, 2023-2034
- Table 74: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Product), Million Units, 2023-2034
- Table 75: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
- Table 76: Rest-of-Asia-Pacific Electric Vehicle Bearings Market (by Material), $Million, 2023-2034
