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Automotive Needle Roller Bearing Market Share

Report ID: GMI12107
Published Date: Nov 2024
Report Format: PDF

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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. Schaeffler AG has leveraged its extensive engineering capabilities and research investments to develop advanced bearing solutions that meet the evolving demands of the automotive industry. The company has made significant strides in integrating its products with electric vehicle technologies, enhancing efficiency and performance while addressing key concerns such as range anxiety.

JTEKT is recognized for its commitment to quality and reliability in manufacturing precision bearings. The company benefits from a diverse product range that caters to various automotive applications, including those for electric vehicles. JTEKT's global footprint, with production facilities strategically located around the world, enables it to serve a wide customer base efficiently.

Automotive Needle Roller Bearing Market Companies

Major players operating in the automotive needle roller bearing industry are:

C&U Group
GKN plc
JTEKT Corporation
NACHI-FUJIKOSHI Corp.
NSK Ltd.
NTN Corporation
Schaeffler AG
SKF Group
The Timken Company
THK Co., Ltd.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of automotive needle roller bearing reached USD 2.9 billion in 2023 and is set to grow at a 6.5% CAGR from 2024 to 2032, driven by the rising adoption of electric vehicles.

The OEM segment held around 65% of the market share in 2023 due to their extensive engineering expertise and close collaboration with automakers, ensuring high-quality and efficient bearing systems.

The U.S. market accounted for 87% of the revenue share in 2023 and is expected to exceed USD 1.3 billion by 2032, led by its robust automotive manufacturing ecosystem and significant R&D investments.

Key players in the industry include C&U Group, GKN plc, JTEKT Corporation, NACHI-FUJIKOSHI Corp., NSK Ltd., NTN Corporation, Schaeffler AG, SKF Group, The Timken Company, and THK Co., Ltd.