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Automotive Needle Roller Bearing Market Size - By Product, By Vehicle, By Sales Channel, By Application, Analysis, Share, Growth Forecast, 2024 - 2032
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Automotive Needle Roller Bearing Market
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Base Year: 2023
Companies covered: 20
Tables & Figures: 200
Countries covered: 21
Pages: 180
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Automotive Needle Roller Bearing Market Size
The global automotive needle roller bearing market was valued at USD 2.9 billion in 2023 and is projected to grow at a CAGR of 6.5% between 2024 and 2032. Needle roller bearings precisely match the EV requirements of low friction, high-speed, and compact design, as manufacturers globally switch to electric drivetrains. The growing EV market has shifted the focus to innovative and sustainable transportation solutions, so these components will be helpful in supporting the lightweight design goals and reducing maintenance as well.
Schaeffler AG, for example, is experiencing increased demand for hybrid vehicle components in June 2024 while simultaneously pivoting toward battery technology. The Germany-based ball-bearing and engine component makers are also rapidly growing their hybrid car parts business in China and Europe and growing U.S. orders for specific contracts.
Bearings made from needle rollers are critical as automakers lightweight cars to meet different regulatory standards and fuel consumption requirements. Cars will now have to meet environmental emission standards, and so these bearings are important in decreasing total vehicle volume while providing the required performance. This outlines changes in materials and design innovation, which shifts the market towards components that will increase the vehicle rating.
The focus on the demand for effective manufacturing is shifting towards the high-performance requirements in modern vehicles, most notably for hybrid and electric vehicle drivetrains, which are expected to keep growing. Precision needle roller bearings support higher durability, efficiency, and reduced transmitted vibration and noise. These components demonstrate a shift in the automotive industry where vehicle performance and the longevity of components have become a priority.
Automotive Needle Roller Bearing Market Trends
With the global automotive industry moving towards electric and hybrid vehicles, there is increasing demand for components that aid in power-efficient mechatronics and frictionless drivetrain parts. Economical designs, compact dimensions, and a high load-carrying ratio of needle roller bearings are fulfilling the need to increase the battery performance and range of the vehicle. Resultantly, regulatory policies focused on clean transportation and green consumerism have made these bearings important for the modern market of vehicles.
Automotive manufacturers are aiming to meet the regulatory emissions ceiling by seeking to improve vehicle fuel economy through lightweighting. There has been a rise in the use of needle roller bearings due to high load and low weight applications because these bearings are far smaller and lighter than traditional ceramic bearings. This trend has pushed the market to seek these new designs that enable the building of lightweight vehicles, which will greatly increase the performance of the vehicle in regulated environments.
Automotive Needle Roller Bearing Market Analysis
Based on product, the market is segmented into drawn cup needle, solid needle, thrust needle, caged needle. In 2023, the drawn cup needle segment accounted for over 33% of the automotive needle roller bearing market share and is expected to exceed USD 1.6 billion by 2032.
Based on the sales channel, the automotive needle roller bearing market is divided into OEM and aftermarket. The agreed OEM segment held around 65% of the market share in 2023 due to several key factors.
In 2023, the U.S. region accounted for a automotive needle roller bearing market share of over 87% and is expected to exceed USD 1.3 billion by 2032.
Automotive Needle Roller Bearing Market Share
Schaeffler AG and JTEKT Corporation collectively held a substantial market share of over 15% in the automotive needle roller bearing industry in 2023.
Automotive Needle Roller Bearing Market Companies
Major players operating in the automotive needle roller bearing industry are:
Considering the modern interests of simplifying the production of light yet very strong elements for electric and hybrid vehicles, global leaders are investing more resources into bringing new products onto the automotive needle roller bearing market. Advanced materials like high strength steels with ceramic coatings enable manufacturers to improve a component’s load capacity, while decreasing its weight and the friction it creates. Such modifications cope with existing issues for fuel economy improvement, lowering emission limits and electrification of the automotive powertrain.
The automotive needle roller bearing market has a very active character, influenced by both foreign and domestic business structures. These global companies are able to win the market by fulfilling the demands of a wide range of automotive products, i.e. transmissions, engines, driveshafts and more, with a vast array of high-value goods. Their market position backed by large product portfolios, cooperative agreements with other companies and their own distribution centers.
Automotive Needle Roller Bearing Industry News
The automotive needle roller bearing market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) & shipment (Units) from 2021 to 2032, for the following segments:
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Market, By Product
Market, By Vehicle
Market, By Sales Channel
Market, By Application
The above information is provided for the following regions and countries: