Global Automotive Bearing Market Trends, Forecast Report 2025-2037
Automotive Bearing Market size is anticipated to rise from USD 36.17 billion to USD 77.86 billion, exhibiting a CAGR of around 6.2% during the forecast timeline, from 2025 through 2037. In the year 2025, the industry size of automotive bearing is assessed at USD 37.94 billion.
The market growth is led by growing demand for automotive bearings owing to the rising sale of vehicles along with increasing production of cars worldwide, and increasing vehicle electrification. For instance, globally, more than 55,800,000 passenger cars were produced in 2020. With the recent advancements in bearing design to accommodate new-age solutions as well as a surge in the demand for electric vehicles, the demand for the automotive bearing is on the rise amongst vehicle manufacturers, which in turn, is expected to create massive revenue generation opportunities for the market.
Automotive Bearing Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Number of Wheels Used in the Automotive Industry – is expected to escalate the automotive bearing market in the forecasted period as they have bearings at a large scale. Bearings make the axle and wheels operate smoothly while reducing friction. With the rising number of wheels on road, the demand for automotive bearings will also rise. For instance, as of 2022, there are an estimated of 8.5 billion, over 2 billion, and around 38 billion wheels of cars, bicycles, and motorcycles, and other vehicles in the world respectively.
- Rising Number of Heavy Vehicles that are Being Purchased - bearings support load-bearing capacity in vehicles. It was found that there were over 15 million trucks in the United States, in 2021.
- Growing Demand for Bearings Across the World - on average approximately 100 to 150 bearings are used in a vehicle, which is crucial for ensuring safe operation, and reducing friction, and energy expenditure.
- Increasing Production of Commercial Vehicles with Increasing Transport - which in 2021, reached 23 million units worldwide.
- Increasing Middle-Class Population and Growing Purchases of Vehicles – As per the estimations, the production of passenger vehicles in 2019 were over 65 million across the world.
Challenges
- Fluctuating Cost of Raw Materials
- High Maintenance Cost
- The maintenance cost of these bearings is very high as they are made of high-grade steel and alloy steel. These require constant monitoring and regular service to prevent failure and improve the shelf life of the product. The cost of the new bearings is also high due to the raw materials used. All these are estimated to hinder the market growth.
- Shift towards Electrification of Vehicles Requiring a Lesser Number of Bearings
Automotive Bearing Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.2% |
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Base Year Market Size (2024) |
USD 36.17 Billion |
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Forecast Year Market Size (2037) |
USD 77.86 Billion |
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Regional Scope |
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Automotive Bearing Segmentation
Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles)
The light commercial vehicle segment is anticipated to garner the largest revenue share by the end of 2037, backed by growing demand for commercial vehicles along with the surge in the sale of light commercial vehicles worldwide, growing focus on fuel efficiency, and increasing developments for enhanced fitness, load carrying capacity and prolonged operating life. For instance, out of the total sales volume of commercial vehicles in India, the light commercial vehicles segment accounted for about 68% in 2020.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Vehicle Type |
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By Application |
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Customize this ReportAutomotive Bearing Industry - Regional Synopsis
Asia Pacific Market Forecast
The Asia Pacific region automotive bearing market is predicted to dominate majority revenue share by the end of 2037. The presence of a strong transport network in the region, growing production of vehicles, increasing disposable income, and as well as the rising penetration of vehicles. For instance, as per an estimation 3rd of all vehicles in the world are in the Asia-Pacific region.
Companies Dominating the Automotive Bearing Landscape
- NTN Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Schaeffler Group
- Timken Company
- MinebeaMitsumi Inc.
- NTN-SNR Roulements
- NSK Ltd.
- SNL Bearings Ltd.
- JTEKT Corporation
- Nippon Thompson Co., Ltd.
- Aktiebolaget Svenska Kullagerfabriken
In the News
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NTN Corporation – announced that, under oil lubrication with high-speed deep groove ball bearings, it has achieved high-speed rotation supporting dmn value*1 of 2.2 million for e-Axle drive systems for EVs, and motors and transmissions for HEVs.
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Schaeffler Group – introduced TriFinity triple-row bearing that offers greater rigidity and longer service life than standard bearings with two ball bearing rows, strengthening the company’s bearings business with the development of bearings for electromobility.
Author Credits: Saima Khursheed
- Report ID: 1996
- Published Date: Jan 28, 2025
- Report Format: PDF, PPT
