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North America Automotive Bearings Market Share

Report ID: GMI12237
Published Date: Nov 2024
Report Format: PDF

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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

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The North America automotive bearings market was reached USD 4.2 billion in 2023 and is estimated to grow at a 9.9% CAGR from 2024 to 2032, driven by the increasing demand for electric vehicles (EVs).

The ball bearings segment was valued at over USD 1.9 billion in 2023 and is projected to grow at a 10.4% CAGR through 2032, due to their versatility and high load-carrying capacity.

The aftermarket segment was crossed USD 2.6 billion in 2023 and is anticipated to grow at a 9.8% CAGR through 2032, supported by the need for maintenance and replacement parts.

The U.S. market for automotive bearings is projected to exceed USD 3 billion in 2023 and reach USD 7.1 billion by 2032, led by a robust automotive manufacturing sector and technological innovation.

Key players in the North America automotive bearings market 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, and The Timken Company.