PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1638746
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1638746
Automotive Needle Roller Bearing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Automotive Needle Roller Bearing Market was valued at USD 2.9 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2032. With rising electric vehicle (EV) adoption, automakers are increasingly prioritizing components that are efficient, durable, and compact to meet the specific needs of EV drivetrains. Needle roller bearings stand out as an optimal choice due to their ability to handle high-speed rotations, low friction, and compact form, making them suitable for the demands of modern EVs. These bearings play a critical role in boosting energy efficiency, supporting lightweight vehicle designs, and reducing maintenance requirements, aligning with the industry's shift toward more sustainable transportation solutions.
The market is segmented by product type into drawn cup needle, solid needle, thrust needle, and caged needle roller bearings. In 2023, drawn cup needle bearings held over 33% of the market share, and they are anticipated to surpass USD 1.6 billion by 2032. These bearings are favored for their compact design, which provides maximum load-carrying capacity while occupying minimal space-a significant advantage in today's automotive applications, where space is limited. Moreover, the lower friction of drawn cup needle bearings enhances the efficiency of power transmission systems, a crucial benefit for EVs aiming to optimize energy use and extend battery life.
Drawn cup needle roller bearings are also manufactured with precision and consistent quality, enabling them to excel in high-speed applications. Their ability to handle radial loads and withstand harsh operating conditions makes them a popular choice among automotive manufacturers striving for lightweight, efficient vehicle designs. This positions drawn cup needle roller bearings as a leading solution in the evolving automotive market.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $2.9 Billion |
| Forecast Value | $5.1 Billion |
| CAGR | 6.5% |
In terms of sales channels, the market is divided into OEM and aftermarket segments. In 2023, OEMs accounted for around 65% of the market share. OEMs are recognized for their engineering expertise and advanced manufacturing processes, which allow them to produce reliable and high-performance bearing systems that meet the stringent quality standards of automakers. They also benefit from economies of scale, reducing production costs while maintaining quality. With an established logistics and supply chain network, OEMs are well-equipped to meet the rising demand for advanced bearings in electric and hybrid vehicles.
The U.S. automotive needle roller bearing market held 87% of regional revenue share in 2023, supported by its advanced manufacturing infrastructure, technological innovation, and investment in R&D. This solid foundation is expected to drive continued growth, with revenue anticipated to exceed USD 1.3 billion by 2032.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Manufacturers
- 3.1.2 Raw material suppliers
- 3.1.3 OEMs
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Key news & initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Growing demand for automobiles
- 3.7.1.2 Continuous innovations in bearing design & materials
- 3.7.1.3 Rising adoption of electric vehicles
- 3.7.1.4 Growing emphasis on improving fuel efficiency & reducing emissions
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Price reduction due to high competition
- 3.7.2.2 Supply chain disruptions
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032 ($Bn, Units)
- 5.1 Key trends
- 5.2 Drawn cup needle
- 5.3 Solid needle
- 5.4 Thrust needle
- 5.5 Caged needle
Chapter 6 Market Estimates & Forecast, By Vehicle, 2021 - 2032 ($Bn, Units)
- 6.1 Key trends
- 6.2 Passenger vehicles
- 6.3 Commercial vehicles
- 6.4 Electric vehicles
Chapter 7 Market Estimates & Forecast, By Sales Channel, 2021 - 2032 ($Bn, Units)
- 7.1 Key trends
- 7.2 OEM
- 7.3 Aftermarket
Chapter 8 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn, Units)
- 8.1 Key trends
- 8.2 Engine components
- 8.3 Transmissions
- 8.4 Drive shafts
- 8.5 Others
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
Chapter 10 Company Profiles
- 10.1 American Roller Bearing Company
- 10.2 AST Bearings LLC
- 10.3 C&U Group
- 10.4 Emerson Bearing
- 10.5 GKN plc
- 10.6 IKO International, Inc.
- 10.7 INA Bearing Company
- 10.8 JTEKT Corporation
- 10.9 Koyo Bearings
- 10.10 LYC Bearing Corporation
- 10.11 NACHI-FUJIKOSHI Corp.
- 10.12 NSK Ltd.
- 10.13 NTN Corporation
- 10.14 RBC Bearings Incorporated
- 10.15 Schaeffler AG
- 10.16 Shanghai Lily Bearing Manufacturing Co., Ltd.
- 10.17 SKF Group
- 10.18 The Timken Company
- 10.19 THK Co., Ltd.
- 10.20 Zhejiang XCC Group Co., Ltd.
