North America Automotive Bearings Market Size - By Product Type, By Distribution Channel Analysis, Share, Growth Forecast, 2024 - 2032

North America Automotive Bearings Market Size

The North America automotive bearings market size was valued at USD 4.2 billion in 2023 and is estimated to grow at a CAGR of over 9.9% from 2024 to 2032. The market is increasingly focusing on automotive triple technology to drive expansion. The bearings in these vehicles are subjected to specialized conditions such as higher speeds and more torque. The continuous advancement in bearing technology further fuels this transition due to EVs becoming more mass produced.
 

The ban on how much weight a car can carry in terms of material it can be built out of, has further turned the automotive bearings market to grow as manufacturers aim to restrict emissions while fully utilizing energy efficiently. Innovative technology composites along with polymer-based bearings are rapidly being adopted into the automotive sector.

North America Automotive Bearings Market Trends

• With the rapid change in EV technology IoT devices are becoming heavily integrated into cars. The automotive bearings market along with North American automotive bearings market are undergoing a significant shift due to the automation taking over and smart technology taking over in bearing design.
   
• The market for smart bearings and other contemporary automotive technologies will grow by 6.4% annually between 2021 and 2026, per the Automotive Aftermarket Suppliers Association (AASA). In Response to the increasing demand for electric and fuel-efficient automobiles, manufacturers are concentrating on creating high-performance bearings that extend bearing life and decrease frictional resistance.
   
• An Electric Drive Transportation Association says electric vehicle sales in the North America region alone have risen by 83% which in turn will lead to the requirement for niche bearings.
   

North America Automotive Bearings Market Analysis

• The North American market for automotive bearings has been impacted badly over the past few years during the pandemic and currently continues to due to the fluctuating prices of raw materials.
• The cost of Steel and Polymers, which are key components required in bearing manufacturing, tend to vary drastically thus impacting the overall manufacturing prices.
   
• Automotive bearings are said to have raw material costs constituting approximately 60% of the total production costs, as claimed by American Bearing Manufacturers Association (ABMA). Said cost hikes may force the manufacturers to raise their selling prices, thus negatively impacting demand.
   
• Dealing with these challenges will require manufacturers to be strategic in their sourcing and inventory management practices. Such adaptations can however hurt operational efficiencies and profit margins in a cost-effective and innovative state of the market.

According to the product type, the market is divided into ball bearings, roller bearings and other Bearings. The ball bearings lead the market was valued at USD 1.9 billion in 2023 and is set to register at a CAGR of 10.4% from 2024 to 2032.
 

• These components are prevalent in the North American market for automotive bearings because they are multi-functional, have a relatively high load carrying capacity, as well as the ability to reduce friction. Their wide application in automotive, such as wheels, transmissions and motors, guarantees a steady market to the manufacturers and suppliers.
   
• The bearings Manufacturing Association of America (BMAA) indicates that ball bearings represent roughly 60% of North America’s automotive bearings market. Furthermore, although ball bearings have been in service in cars for many years, new advances in technology such as hybrid or ceramic materials have greatly enhanced the performance and durability of ball bearings.

Depending on the distribution channel of the bearings, the market can further segment into aftermarket and OEM. In terms of revenue, the aftermarket segment dominated the market exceeding USD 2.6 billion in 2023, with a growth rate of 9.8% from 2024 to 2032.
 

• The aftermarket distribution channel is one of the most important parts of the North American automotive bearings market as it focuses on maintenance and repair parts.
   
• This network includes wholesalers, retailers and e-commerce businesses such as online stores that target automotive repair shops and DIY customers. According to the AASA, the automotive aftermarket in the USA was worth USD318 billion as of 2020, hence stating the importance of this sector.

In terms of revenue, the U.S. automotive bearings market size surpassed USD 3 billion in 2023 and is projected to grow around USD 7.1 billion in 2032.
 

• The North American automotive bearings market is led by the U.S. automotive bearings market bolstered by a robust automotive industry and a strong inclination towards technology. AASA reports that the US automotive aftermarket including bearings reached 318 billion in 2020.
   
• The bearings market for USA is highly performance oriented towards vehicle efficiency and reliability and is purposefully supplied by the major automotive powerhouses in the country.
   

North America Automotive Bearings Market Share

The market is said to be competitive in nature as key players, like, are held in position with market ownership between 10% to 15%. Manufacturers are responding to the rise in consumer mobility demand by engaging in increasing number of branded company mergers, acquisitions, business partnerships and new HKT Automotive Bearings Ltd collaborations.
 

Competition among the respective companies that are in the North American market for auto bearings is more on the product and service gearing towards technological changes innovation and improved quality. Many firms allocate significant funds towards advanced bearing and engineering research and advanced manufacturing techniques in order to produce superior quality bearings, that are long lasting, frictionless, and enhance overall vehicle performance. Manufacturers have turned their attention to eco-friendly products and processes. Also, according to the Automotive Aftermarket Suppliers Association (AASA), more than 60 percent of automotive suppliers, which include bearing manufacturers, adopted sustainable practices. Competitiveness in the market is also enhanced by good relationships with automotive manufacturers and good distribution networks.
 

North America Automotive Bearings Market Companies

Major players operating in the North America automotive bearings industry include:

• Brammer PLC
• C&U Group Company Limited
• Daido Metal Company Limited
• Harbin Bearing Manufacturing Co., Ltd
• HKT Automotive Bearings Ltd.
• JTEKT Corporation
• Luoyang LYC Bearing Company Limited
• Minebea Company Limited
• NBI Automotive Bearings Europe
• NSK Global
• NTN Corporation
• RBC Automotive Bearings Inc.
• Rexnord Corporation
• Schaeffler Group
• SKF
• The Timken Company
   

North America Automotive Bearings Industry News

• In March 2023, Schaeffler Group confirmed that it would be extending the coverage and enhancing the capability of its so manufacturing unit in Ohio to boost the production of automotive bearings in a bid to respond to the growing North American market.
   
• In September 2022, NTN Corporation pendant noticed the growing EV market in North America and decided to delve deeper into it. Bearing wheel hubs series, they released were focused on increasing performance of electric vehicles.
   
• In January 2024, The porta of automotive technologies in North America is ever changing, and to match up with it, SKF came up with  a new epoch sensor-bearing units during which was specifically deployed for autonomous vehicles, thus updating its wide array of products prioritizing the ever changing set of tools in the said region.
   

The North America automotive bearings market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million Units) from 2018 to 2032, for the following segments:

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Market, By Product Type

• Ball bearings
• Roller bearings
• Other bearing

Market, By Distribution Channel

• Aftermarket
• OEM

The above information is provided for the following countries:

• U.S.
• Canada