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Automotive Needle Roller Bearing Market Size

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

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Automotive Needle Roller Bearing Market Size

The global automotive needle roller bearing market size was valued at USD 2.9 billion in 2023 and is projected to grow at a CAGR of 6.5% between 2024 and 2032. As EV adoption grows worldwide, vehicle manufacturers require highly efficient, durable, and compact components to support the unique demands of electric drivetrains. Needle roller bearings are ideal for these requirements due to their low friction, ability to handle high-speed rotations, and compact design, which align well with EV performance needs. Their role in improving vehicle energy efficiency, supporting lightweight design goals, and contributing to reduced maintenance aligns with the industry shift toward more sustainable and efficient transportation solutions.

automotive needle roller bearing market

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For instance, in June 2024, Schaeffler AG is experiencing increased demand for hybrid vehicle components as it pivots toward battery technology. The German ball-bearing and engine component maker is expanding its hybrid car parts business, especially in China and Europe, while U.S. customers have significantly increased orders for specific contracts.

Automotive Needle Roller Bearing Market Report Attributes
Report Attribute	Details
Base Year:	2023
Automotive Needle Roller Bearing Market Size in 2023:	USD 2.9 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.5%
2024 – 2032 Value Projection:	USD 5.1 Billion
Historical Data for:	2021-2023
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Product, Vehicle, Sales Channel, End use
Growth Drivers:	Growing demand for automobiles Continuous innovations in bearing design & materials Rising adoption of electric vehicles Growing emphasis on improving fuel efficiency & reducing emissions
Pitfalls & Challenges:	Price reduction due to high competition Supply chain disruptions

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Vehicle lightweighting has become critical as manufacturers strive to improve fuel efficiency and meet regulatory standards for emissions. Needle roller bearings, known for their high strength-to-weight ratio, are essential in minimizing overall vehicle weight without compromising performance. This trend aligns with advancements in materials and design innovation, pushing the market toward components that contribute to overall vehicle efficiency.

The demand for precision manufacturing is growing to support the high-performance requirements of modern vehicles, especially in hybrid and electric drivetrains. Precision needle roller bearings help reduce vibration and noise, improve vehicle durability, and support higher efficiency. This trend reflects a broader shift in the automotive sector toward quality and precision for enhanced vehicle performance and longer component lifespans.

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.