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The automotive needle roller bearing market share is expected to increase by USD 987.72 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.74%.
This automotive needle roller bearing market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive needle roller bearing market segmentation by application (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The automotive needle roller bearing market report also offers information on several market vendors, including AB SKF, AST Bearings, bmibearings.com, C and U Group, Genuine Parts Co., Grupo NBI, INF Bearing Inc., JTEKT Corp., KG BEARING INDIA, LELI Srl, MinebeaMitsumi Inc., NOSE SEIKO CO. LTD, NSK Ltd., NTN Corp., RBC Bearings Inc., Regal Rexnord Corp., San Yun Industrial Co. Ltd., Schaeffler AG, Suzhou Bearing Factory Co. Ltd., and Wuxi Xizhu Cage Co. Ltd. among others.
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The surging demand for internal combustion engine vehicles is notably driving the automotive needle roller bearing market growth, although factors such as rising instances of counterfeiting may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive needle roller bearing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Needle Roller Bearing Market Driver
One of the key factors driving growth in the automotive needle roller bearing market is the surging demand for internal combustion engine vehicles. Production patterns in the global automotive needle roller bearings market depend largely on the growth of the internal combustion engine vehicle market. This is because bearings are mostly used in automobiles to reduce friction and to induce smooth performance of other parts. Automotive needle roller bearings are mostly used in vehicle rocker arm pivots, transmission systems, automotive pumps, driveshafts, compressors, pulley supports, ear pumps, gearbox shafts, and others. Hence, the demand for internal combustion engine vehicles will have a major impact on the production of automotive needle roller bearings. The strong sales of commercial vehicles and passenger cars in developing economies like India, China, Indonesia, and Thailand are expected to boost the production of automotive needle roller bearings by 2026.
Key Automotive Needle Roller Bearing Market Trend
The development of low-noise thrust needle roller bearings is an automotive needle roller bearing market trend that is expected to have a positive impact in the coming years. The growth of electric vehicles has fostered the development of assorted components such as low-noise thrust needle roller bearings to decrease engine noise. Electric vehicles are cleaner and environment-friendly means of transport. Engine noise is one of the major factors that contribute to noise pollution from a vehicle. Hence, vehicle manufacturers use electric systems in place of mechanical components to reduce engine noise. Low-noise thrust needle roller bearings aim at creating a smoother drive experience on electric vehicles, which emit very minimal engine noise as compared to the internal combustion engine. NSK develops low-noise thrust needle roller bearings, specifically for electric vehicles that have redesigned cage and roller and race-bearing components to reduce noise.
Key Automotive Needle Roller Bearing Market Challenge
The rising instances of counterfeiting will be a major challenge for the automotive needle roller bearing market during the forecast period. Counterfeit products hamper the sales of genuine automotive components and negatively affect the organized players. In 2020, automotive components, such as clutches, lamps, bearings, filters, brake linings, and steering arms, were among the most popular counterfeit automotive components. The increasing popularity of counterfeit automotive needle roller bearings poses a serious challenge to the major manufacturers of automotive bearings, such as SKF and NTN. End-users engaged in the trade involving heavy consignments of goods with standard design parameters prefer low-priced Asian products as they significantly lower investments. Counterfeit automotive bearings, such as needle roller bearings, reduce the profit margins of major automotive bearing manufacturers. Such factors will restrain the growth of the global automotive needle roller bearing market during the forecast period.
This automotive needle roller bearing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global automotive needle roller bearing market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive needle roller bearing market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive needle roller bearing market encompasses successful business strategies deployed by the key vendors. The automotive needle roller bearing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive needle roller bearing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive needle roller bearing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive needle roller bearing in APAC. Market growth in this region will be faster than the growth of the market in the North American regions.
The lower production costs, steady availability of skilled and unskilled labor, favorable local currency exchange rates, and favorable government policies drive many mainstream vehicle manufacturers to establish their production bases in APAC. This will facilitate the automotive needle roller bearing market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic slowed down the growth of the automotive industry in the region, which negatively impacted the regional automotive needle roller bearings market. Despite the decline in sales, the automotive manufacturers launched several PVs. However, the launch was not sufficient to meet customer demand. Thus, the regional automotive needle roller bearing market will witness moderate growth during the forecast period.
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The automotive needle roller bearing market share growth by the passenger cars segment will be significant during the forecast period. The global passenger car segment is highly dynamic, where its growth largely depends on the spending capability of households in a region. Automotive needle roller bearings are the most economical to produce on a large scale and can be assembled directly within various component housing and shafts.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive needle roller bearing market size and actionable market insights on the post-COVID-19 impact on each segment.
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Automotive Needle Roller Bearing Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.74% |
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Market growth 2022-2026 |
$ 987.72 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.36 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 42% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AB SKF, AST Bearings, bmibearings.com, C and U Group, Genuine Parts Co., Grupo NBI, INF Bearing Inc., JTEKT Corp., KG BEARING INDIA, LELI Srl, MinebeaMitsumi Inc., NOSE SEIKO CO. LTD, NSK Ltd., NTN Corp., RBC Bearings Inc., Regal Rexnord Corp., San Yun Industrial Co. Ltd., Schaeffler AG, Suzhou Bearing Factory Co. Ltd., and Wuxi Xizhu Cage Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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