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Automotive Needle Roller Bearing Market Trends

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

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Automotive Needle Roller Bearing Market Trends

As the global automotive industry transitions to electric and hybrid vehicles, there is a rising need for components that support efficient energy use and reduce drivetrain friction. Needle roller bearings meet these needs due to their compact design and high load-carrying capacity, which enhance battery efficiency and extend vehicle range. This trend is propelled by policies encouraging clean transportation and consumer demand for environmentally friendly options, making these bearings crucial for modern vehicle efficiency.

Automotive manufacturers are increasingly prioritizing lightweighting to improve vehicle fuel economy and meet regulatory standards for emissions. Needle roller bearings are ideal for lightweight applications, providing high load capacity in a smaller, lighter design than traditional bearings. This trend drives manufacturers to integrate such components to achieve lighter vehicles without sacrificing performance, appealing to markets where emission standards are stringent, and fuel efficiency is a top priority.

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.