Automotive Needle Roller Bearing Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Germany, France, Japan - Size and Forecast 2024-2028

Automotive Needle Roller Bearing Market Size 2024-2028

The automotive needle roller bearing market size is forecast to increase by USD 966.3 million, at a CAGR of 6.6% between 2023 and 2028.

• The market is experiencing significant growth due to the increasing demand for internal combustion engine vehicles in various industries such as Agricultural Equipment and Construction Equipment. These bearings are essential components in automotive drivetrains, transmissions, and engine systems, making them indispensable in the automotive industry. Furthermore, the development of low noise thrust needle roller bearings is gaining traction in the Passenger Vehicle segment, as manufacturers prioritize reducing noise levels for a more comfortable driving experience. However, the market also faces challenges such as the rising instances of counterfeit bearing components in the market, which can negatively impact the performance and safety of vehicles.
• In addition, the transition towards Electric Vehicles (EVs) and the increasing adoption of ball bearings and plain bearings in Aerospace Industries and Defense Industries are creating new opportunities for precision-engineered bearing solutions. Repair and maintenance of these bearings is also a crucial aspect of the market, ensuring the continued smooth rotational motion in various applications. Despite these challenges, the market is expected to continue its growth trajectory, driven by the increasing demand for fuel-efficient and high-performance vehicles, along with advancements in automation that streamline production and enhance product quality.

Automotive Needle Roller Bearing Market Analysis

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How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Application
  • Passenger cars
  • Commercial vehicles
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • France
  • South America
  • Middle East and Africa

By Application Insights

The passenger cars segment is estimated to witness significant growth during the forecast period.Needle roller bearings play a vital role in the automotive industry, particularly in passenger vehicles. These bearings are essential for various systems in a car, including air conditioning, automatic transmission, electric power steering, and rear-wheel drive driveline setups. The specific number of needle roller bearings used in a passenger vehicle depends on the vehicle model. NTN-SNR, a European subsidiary of NTN and a leading manufacturer of automotive needle roller bearings, offers several types of needle roller bearings for passenger cars. These include needle roller and cage assemblies, drawn cup needle roller bearings, thrust bearings, combined bearings, cam followers, and cam followers on shafts, as well as needle roller bearings with rings.

Moreover, needle roller bearings are also extensively used in other industries such as Agricultural Equipment, Construction Equipment, Internal Combustion Engines, Electric Vehicles (EVs), Aerospace Industries, Defense Industries, and various machinery that require rotational motion. Automotive needle roller bearings are available in various types based on the specific requirements of the application. For instance, lownoise thrust bearings are used in applications where low noise is a critical factor, while precision-engineered bearings are used in high-performance applications. Ball bearings and plain bearings are other types of bearings used in the automotive industry. Bearing components such as cages, races, and rollers are also essential parts of needle roller bearings.

These components are manufactured to the highest standards to ensure optimal performance and longevity. In conclusion, needle roller bearings are an essential component in various industries, including automotive, agriculture, construction, and aerospace. NTN-SNR offers a range of needle roller bearings and bearing components to meet the specific requirements of various applications.

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The passenger cars segment accounted for USD 1.39 billion in 2018 and showed a gradual increase during the forecast period.

Will APAC become the largest contributor to the Automotive Needle Roller Bearing Market?

APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia Pacific (APAC) is poised for growth due to several factors, including lower production costs, a steady labor supply, favorable currency exchange rates, and government incentives. In February 2020, National Engineering Industries, an Indian manufacturing company, introduced a new needle bearing at the Auto Expo Components event. The company plans to expand its needle bearing portfolio over the next three years. Advanced vehicle features that utilize needle roller bearings, such as automatic transmission systems, have limited adoption in APAC due to cost sensitivity among buyers. However, the trend toward sustainability, emissions reduction, energy efficiency, and lightweight materials in the automotive industry is driving demand for needle roller bearings.

These components help reduce friction, handle high radial loads, and optimize performance. Specialty vehicle manufacturers and automotive component manufacturers are increasingly focusing on needle roller bearings for their vehicles due to their durability and efficiency. The growing trend toward vehicle electrification is also expected to boost demand for needle roller bearings, as they are essential components in electric vehicle drivetrains. In terms of lubrication techniques and manufacturing processes, needle roller bearings are known for their ability to operate effectively in dry conditions, reducing the need for frequent lubrication. The use of advanced manufacturing processes, such as precision machining and surface finishing, can further improve the performance and longevity of needle roller bearings.

In conclusion, the market in APAC is expected to grow due to various factors, including cost advantages, technological advancements, and increasing demand for sustainable and efficient automotive components. The market will witness significant growth in the coming years, driven by the adoption of needle roller bearings in various automotive applications.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Dynamics

• The automotive needle roller bearings market is witnessing significant growth due to the increasing demand for precision-engineered components in machinery used in the manufacturing facilities of automobiles. These bearings, characterized by their small size and high load capacity, play a crucial role in facilitating rotational motion in various automotive applications. Automotive needle roller bearings are employed extensively in transmissions, engines, and drive shafts to manage radial loads effectively. The compact design of these bearings contributes to the development of fuel-efficient and high-performance vehicles. In addition, their use in electric vehicles is on the rise due to the increasing focus on reducing friction and optimizing performance.
• The automotive industry's shift towards lightweight designs and the stringent fuel efficiency standards have further fueled the demand for needle roller bearings. These bearings offer a high load capacity in a compact design, making them an ideal choice for automotive applications. Moreover, needle roller bearings are increasingly being used in transmission systems, gearboxes, and suspension systems of passenger vehicles and commercial vehicles. Their ability to handle high radial loads makes them a preferred choice for these applications, leading to the growth of the automotive needle roller bearings market.
• The need for reducing fuel consumption and improving vehicle performance has led to the widespread adoption of needle roller bearings in the automotive industry. These bearings contribute to the overall fuel efficiency of vehicles by reducing friction and improving power transmission. The demand for high-performance vehicles, including sports utility vehicles (SUVs) and luxury cars, is on the rise. Needle roller bearings are used extensively in these vehicles to improve performance and handling, leading to increased demand for these bearings. The shift towards electric vehicles is expected to drive the growth of the automotive needle roller bearings market.
• These bearings are used extensively in electric vehicles due to their ability to handle high radial loads and reduce friction, leading to improved performance and longer battery life.Transmission systems are a critical component of automobiles, and needle roller bearings are used extensively in these systems due to their high load capacity and compact design. The increasing demand for automatic transmission systems in passenger vehicles and commercial vehicles is expected to drive the growth of the automotive needle roller bearings market. Needle roller bearings are essential design components in various automotive applications. Their ability to handle high radial loads and reduce friction makes them an ideal choice for applications that require precise and efficient motion.
• In conclusion, the automotive needle roller bearings market is expected to witness significant growth due to the increasing demand for fuel-efficient vehicles, high-performance vehicles, electric vehicles, and the need for improved transmission systems. The compact design and high load capacity of needle roller bearings make them an essential component in the automotive industry, leading to their widespread adoption in various applications.

What are the key market drivers leading to the rise in adoption of Automotive Needle Roller Bearing Market ?

Surging demand for internal combustion engine vehicles is the key driver of the market.

• The global automotive needle roller bearings market is driven primarily by the expanding demand for internal combustion engine vehicles. These bearings play a crucial role in reducing friction and enhancing the efficiency of various automotive components, including transmission systems, gearboxes, suspension systems, automotive pumps, driveshafts, compressors, pulley supports, and ear pumps. Consequently, the market's growth is closely linked to the passenger car and commercial vehicle sectors in Asia Pacific. Environmental regulations and fuel efficiency standards are influencing the automotive industry's shift towards lightweight designs, electrified drivetrains, and eco-friendly materials. Advanced manufacturing techniques, such as hybrid bearing solutions and smart manufacturing, are also gaining traction in the industry.
• These trends are expected to shape the future of the automotive needle roller bearings market. Market growth is further influenced by the increasing adoption of AI and IoT technologies in the automotive sector. These technologies enable predictive maintenance, optimized production, and improved performance. As the industry continues to evolve, the demand for high-performance, reliable, and cost-effective needle roller bearings is expected to remain strong. In conclusion, the global automotive needle roller bearings market is poised for steady growth, driven by the increasing demand for internal combustion engine vehicles and the evolving trends in the automotive industry. The market's growth is also influenced by factors such as environmental regulations, fuel efficiency standards, and the adoption of advanced manufacturing techniques.

What are the trends shaping the Automotive Needle Roller Bearing Market?

The development of low-noise thrust needle roller bearings is the upcoming trend in the market.

• The automotive industry's shift towards electric vehicles (EVs) has led to an increased focus on reducing engine noise and improving overall vehicle performance. One component that has gained significant attention in this regard is needle roller bearings. These bearings, which include tapered, cylindrical, spherical, and needle roller types, are essential design components in machinery and automobiles. Needle roller bearings are particularly beneficial for two-cycle engines used in EVs due to their ability to provide high tensile strength while reducing weight and energy consumption. By utilizing needle roller bearings instead of conventional bearings, automotive firms can enhance the efficiency of their electric engines, thereby contributing to the reduction of noise pollution.
• Electric vehicles are becoming increasingly popular as they offer cleaner and more eco-friendly transportation options. As part of this shift, automakers are focusing on designing vehicles with components and systems that minimize pollution, including noise pollution. Engine noise is a significant contributor to overall vehicle noise. To address this issue, manufacturers are increasingly turning to electric systems to replace mechanical components, as electric systems have fewer moving parts and generate less noise than traditional mechanical components. By implementing needle roller bearings in their electric engines, automotive firms can achieve both improved performance and reduced noise pollution.

What challenges does Automotive Needle Roller Bearing Market face during the growth?

Rising instances of counterfeiting is a key challenge affecting the market growth.

• Counterfeit automotive components, including needle roller bearings, pose a significant threat to the sales of genuine products and the reputation of major automotive bearing manufacturers. In 2020, various automotive components, such as clutches, lamps, filters, brake linings, steering arms, and needle roller bearings, were among the most frequently counterfeited parts. These counterfeit needle roller bearings, often labeled as major automotive bearing brand names, are supplied to marketers and dealers, resulting in substantial revenue loss for established automotive bearing manufacturers like AB SKF and NTN Corp. Furthermore, the inferior quality of these counterfeit bearings can damage the reputation of companies. Automotive noise standards are crucial in the industry, and heat generation is a concern for all automotive components, including needle roller bearings.
• The automotive industry relies on various types of needle roller bearings, such as combined needle roller bearings, radial needle roller bearings, and thrust needle roller bearings, in applications like chassis and suspension, engine and powertrain, HVAC, steering systems, and transmission and gearbox. The use of counterfeit needle roller bearings can lead to increased noise levels and potential heat generation issues, negatively impacting the overall performance and longevity of the automotive systems. Major automotive OEMs demand high-quality needle roller bearings to meet stringent automotive noise standards and ensure the optimal performance of their vehicles. To meet these demands, manufacturers focus on producing high-quality needle roller bearings using advanced technologies and materials. The increasing demand for these bearings in various automotive applications is expected to drive the growth of the market.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AB SKF: The company offers needle roller bearings such as drawn cup needle roller bearings, needle roller bearings with machined rings, and alignment needle roller bearings.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• AST Bearings
• Bearing Manufacturing India
• C and U Americas
• Genuine Parts Co.
• Grupo NBI
• INF Bearing Inc.
• JTEKT Corp.
• KG BEARIING India LLP
• 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.
• Wuxi Xizhu Cage Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Needle roller bearings are a crucial component in various machinery and automobiles. These bearings are known for their ability to handle high radial loads and are particularly suitable for applications with limited space. In the automotive industry, needle roller bearings are extensively used in transmissions, engines, drive shafts, and suspension systems of passenger vehicles and commercial vehicles. The demand for needle roller bearings in the automotive sector is driven by factors such as weight reduction, energy consumption, and performance optimization. Two-cycle engines in agricultural and construction equipment, as well as internal combustion engines in automobiles, benefit significantly from the use of needle roller bearings.

Moreover, the increasing trend towards fuel-efficient, high-performance vehicles, electric vehicles (EVs), and hybrid electric vehicle (HEVs) has led to the adoption of needle roller bearings in lightweighting and vehicle electrification. Advanced materials such as alloys, ceramics, and composites are increasingly being used in the manufacturing of needle roller bearings to improve their tensile strength and sustainability. The automotive component manufacturers and specialty vehicle manufacturers are continually innovating to meet the evolving demands of the industry. They are focusing on the development of hybrid bearing solutions, smart manufacturing, and advanced lubrication techniques to enhance the performance and durability of needle roller bearings.

The Aftermarket parts and components is another significant area where needle roller bearings find extensive usage. The repair and maintenance of various automotive systems require the replacement of worn-out bearings, leading to a steady demand for these components. In conclusion, the needle roller bearing market is poised for growth due to the increasing demand for fuel-efficient, high-performance vehicles, the adoption of electrified drivetrains, and the focus on sustainability and emissions reduction in the automotive industry. The market is expected to witness significant growth in the coming years as manufacturers continue to innovate and develop advanced needle roller bearing solutions for various applications.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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