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

North America Automotive Bearings Market Size

North America Automotive Bearings Market 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, due to the increasing demand for electric vehicles (EVs). As automakers shift their focus towards EV production, the need for specialized bearings capable of withstanding unique operational conditions, such as higher speeds and increased torque, continues to rise. This transition is compelling manufacturers to innovate and develop advanced bearing technologies for electric drivetrains, contributing to market expansion.
 

The ongoing trend toward lightweight materials in automotive design is another crucial growth factor for the automotive bearings industry. As manufacturers strive to enhance fuel efficiency and reduce emissions, the demand for lightweight bearings that maintain performance without compromising strength is increasing. The automotive sector is increasingly adopting advanced materials, such as composite and polymer-based bearings.
 

North America Automotive Bearings Market Trends

The North American automotive bearings industry is experiencing several significant trends. Automation and the integration of smart technologies in bearing design are becoming increasingly prevalent. According to the Automotive Aftermarket Suppliers Association (AASA), the market for advanced automotive technologies, including smart bearings, is projected to grow at a CAGR of 6.4% from 2021 to 2026. Manufacturers are focusing on developing high-performance bearings to enhance durability and reduce friction, addressing the growing demand for electric vehicles and fuel-efficient cars. The Electric Drive Transportation Association reports that electric vehicle sales in North America increased by 83% in 2021, driving the need for specialized bearings.
 

North America Automotive Bearings Market Analysis

The North American automotive bearings industry faces significant challenges due to fluctuating raw material prices. Steel and polymers, essential components in bearing production, experience price variations that directly impact manufacturing costs. According to the American Bearing Manufacturers Association (ABMA), raw material costs can account for up to 60% of the total production expenses for automotive bearings. These cost increases may be passed on to consumers, potentially affecting market demand. To navigate these challenges, manufacturers must implement strategic sourcing and inventory management practices. However, these adaptations can strain operational efficiencies and profit margins in a market that prioritizes cost-effectiveness and innovation.
 

Based on product type, the ball bearings segment was worth overt USD 1.9 billion in 2023 and is predicted to showcase about f 10.4% CAGR through 2032. These components dominate the North American automotive bearings market due to their versatility, high load-carrying capacity, and friction-reducing properties. Their extensive use in automotive parts, including wheels, transmissions, and motors, ensures consistent demand from manufacturers and suppliers.
 

Based on distribution channel, the aftermarket segment was reached USD 2.6 billion in 2023 and is anticipated to register at a 9.8% CAGR through 2032. The aftermarket distribution channel serves as a critical component in the North American automotive bearings market, providing essential support for maintenance and replacement parts. This network encompasses wholesalers, retailers, and e-commerce platforms catering to automotive repair shops and DIY enthusiasts. According to the Automotive Aftermarket Suppliers Association (AASA), the U.S. automotive aftermarket reached a value of USD 318 billion in 2020, highlighting the sector's significance.
 

U.S. automotive bearings market is likely to exceed USD 3 billion in 2023 and is expected to reach USD 7.1 billion by 2032, driven by a robust automotive manufacturing sector and a strong focus on technological innovation. According to the Automotive Aftermarket Suppliers Association (AASA), the U.S. automotive aftermarket, which includes bearings, was valued at USD 318 billion in 2020. Major automakers and suppliers in the country prioritize high-performance bearings to enhance vehicle efficiency and reliability.
 

North America Automotive Bearings Market Share

The market is fragmented, with prominent players, such as holding a market share of 10-15%. Manufacturers are adopting strategic steps, such as Brammer PLC, C&U Group Company Limited, Daido Metal Company Limited, Harbin Bearing Manufacturing Co., Ltd, HKT Automotive Bearings Ltd. mergers, acquisitions, partnerships, and collaborations, to meet the growing consumer demand and consolidate their position in the market.
 

Companies in the North American automotive bearings industry compete primarily on technological innovation, product quality, and customer service. They invest in advanced manufacturing techniques and research to develop high-performance bearings that enhance durability, reduce friction, and improve overall vehicle efficiency. Sustainability has become a key focus, with manufacturers developing eco-friendly products and processes. The Automotive Aftermarket Suppliers Association (AASA) reports that over 60% of automotive suppliers, including bearing manufacturers, have implemented sustainability initiatives in their operations. Strong relationships with automotive manufacturers and robust distribution networks further enhance competitive advantages in the market.
 

North America Automotive Bearings Market Companies

Major key 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 announced the expansion of its manufacturing facility in Wooster, Ohio, to increase production capacity for automotive bearings, addressing the growing demand in the North American market.
   
• In September 2022, NTN Corporation launched a new series of high-performance wheel hub bearings for electric vehicles in September 2022, specifically designed to meet the requirements of the expanding EV market in North America.
   
• SKF unveiled its latest generation of sensor-bearing units for autonomous vehicles in January 2024, enhancing its product portfolio to cater to the evolving automotive technology landscape in the North American region.
   

This 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