Automotive Bearings Market Size and Growth Rate Forecast 2034

Automotive Bearings Market Trends, Import & Export Analysis

The automotive bearings market is projected to reach USD 23.69 billion by 2034, expanding from USD 16.12 billion in 2025, at an annual growth rate of 4.37% during the forecast period from 2025 to 2034.

Unlock Infinite Advantages: Subscribe to Annual Membership

Introduction

The automotive bearings market is a crucial segment of the automotive components industry. This industry deals in manufacturing and distribution of bearings for automotives. There are several types of products developed in this industry comprising of ball bearings, roller bearings and some others. It finds numerous applications in powertrain, chassis and some others. These bearings are used in different types of vehicles including passenger vehicles, light commercial vehicles and heavy commercial vehicles. The growing sales of electric vehicles in different parts of the world has contributed to the industrial expansion. This market is expected to rise drastically with the growth of the automotive industry across the globe.

• According to the International Energy Agency, around 2.1 million BEVs were sold in U.S. during 2022 that increased to 3.5 million in 2023.

Highlights of the Automotive Bearings Market

• Asia Pacific held the dominant share of the automotive bearings market due to the rising sales of EVs along with rapid investment in automotive sector.
• North America is expected to grow with a significant CAGR due to the presence of several automotive companies such as Ford, Chevrolet, General Motors and some others.
• The ball bearing segment held the lion share of the market due to its application in wheel, suspension, steering, gearbox, engine, clutch, transmission, and air conditioning.
• The passenger vehicle segment held the largest share of the market due to the growing demand for SUVs in APAC and North America.

Automotive Bearings: Stats and Trends

• The automotive companies are increasing their emphasis on developing light-weight vehicles for enhancing vehicle efficiency has increased the demand for different types of bearings.
• The growing sales and production of electric vehicles has increased the application of ball bearings for several operations in EVs.
• Rapid investment by bearing companies for developing several types of bearings for the automotive sector. Some famous brands investing in this sector includes Igus, Schaeffler, SKF and some others.
• According to the International Organization of Motor Vehicle Manufacturers, around 65272367 passenger cars were sold globally in 2023.

Industry Leader Announcement

In January 2024, Alagesan Thasari, the Director of SKF Automotive India and Southeast Asia, announced that, “By making our products lighter, more efficient, long lasting and serviceable, we help our customers achieve significant energy savings and carbon reductions. This Auto CO2 calculator tool is another example of how we are continuously developing solutions to help our customers understand and accelerate their journey towards sustainability."

Competitive Landscape

The automotive bearings market is a highly fragmented industry with the presence of several dominant players. Some of the prominent players in this industry consists of Schaeffler AG (Germany), NSK Ltd (Japan), JTEKT Corporation (Japan), SKF (Sweden), NTN Corporation (Japan) and some others. These companies are constantly engaged in developing high-grade bearings for automotives and adopting numerous strategies to maintain their dominant position in this market.

• According to the annual report of JKEKT Corporation, around 69% of the revenue of the company was generated from the automotive segment followed by industrial and bearings segment and others.

Market Segmentations

By Type

• Ball
• Roller
• Others

By Application

• Powertrain
• Chassis
• Others

By Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa