|
Forecast Period
|
2026-2030
|
|
Market Size
(2024)
|
USD 38.2
Billion
|
|
CAGR (2025-2030)
|
7.1%
|
|
Fastest Growing
Segment
|
Passenger Cars
|
|
Largest Market
|
China
|
|
Market Size (2030)
|
USD 61.2
Billion
|
Market
Overview
The Asia-Pacific Automotive Bearings Market was valued at USD 38.2
Billion in 2024 and is expected to reach USD 61.2 Billion by 2030 with a CAGR
of 7.1% during the forecast period. The Asia Pacific automotive
bearings market is poised for robust expansion between 2026 and 2030, supported
by technological advancements in vehicle components and the surge in automotive
manufacturing. As countries across the region experience rising urbanization
and a growing middle class, the demand for passenger and commercial vehicles is
accelerating, boosting the need for high-performance bearings. These components
play a vital role in ensuring efficient engine and drivetrain operation,
reducing friction, and enhancing fuel economy. Manufacturers are focusing on
producing lightweight, corrosion-resistant, and high-durability bearings to
cater to the evolving expectations of OEMs and consumers.
Market
Drivers
Surge in Global Automotive Production
The automotive industry's continued expansion is propelling the demand
for components like bearings. As more vehicles roll off production lines, both
in the passenger and commercial segments, the requirement for durable,
high-performance bearings grows. Bearings are essential in reducing friction
and wear in moving parts, making them critical to the efficiency and lifespan
of engines, transmissions, wheels, and steering systems. Automakers aim to
reduce weight and increase fuel efficiency, driving innovations in bearing
design. As vehicle output increases, OEMs seek reliable bearing suppliers who
can meet both volume and performance expectations. For instance, global vehicle sales reached 92.4 million units in 2023, marking a 10.8% increase from 2022. The strong sales growth, bolstered by an 11% rise in December, signals increasing demand and production. The continuous upward trend in global vehicle sales reflects robust recovery and heightened consumer demand across key markets, including North America, Europe, and Asia. This surge highlights the automotive industry's resilience and adaptability, indicating a promising outlook for the sector.
Electrification of Powertrains
Electric vehicles rely heavily on specialized bearings that can
withstand higher rotational speeds and loads while minimizing noise and
vibration. Bearings in EVs must also handle electrical currents that can cause
damage in traditional designs. This transition has encouraged bearing
manufacturers to develop products with advanced insulation, lubrication, and
materials. The shift to electrified mobility is fueling long-term demand for
innovative bearing technologies that cater to new drivetrain architectures and
thermal management systems. For instance, global electric vehicle (EV) sales surged by 49% in the first half of 2023, reaching 6.2 million units. EVs now account for 16% of global light vehicle sales, with China leading at 55% of the market share. Tesla and BYD dominate global sales, with Tesla's Model Y leading, and BYD witnessing impressive sales growth. The overall market has grown by almost 39% in 2023, reinforcing the EV sector's transformative momentum.
Increasing Vehicle Longevity
Consumers are keeping their vehicles longer, and the demand for
replacement parts like bearings is growing as a result. Bearings must endure
extended service intervals and harsher operating conditions, particularly in
commercial and off-road applications. This durability requirement is driving
innovations in heat treatment, sealing technologies, and material science to
enhance bearing life and reliability. Manufacturers are responding with
bearings designed for reduced maintenance and longer service lives. Innovations in manufacturing processes such as CNC machining, laser
hardening, and additive manufacturing are enabling the production of bearings
with tighter tolerances and superior performance characteristics. Advanced
manufacturing methods contribute to improved consistency, reduced defects, and
faster production cycles. Smart factories and Industry 4.0 practices are also
streamlining production and quality assurance processes, ensuring that bearings
meet stringent automotive industry requirements.
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Key
Market Challenges
Volatility in Raw Material Prices
The bearing industry relies on high-grade steel, alloys, and ceramic
materials, the costs of which are subject to global supply chain fluctuations.
Price instability impacts the production cost and profitability for
manufacturers, especially those locked into long-term supply agreements.
Sourcing strategies and cost optimization are critical in mitigating these
risks, but unpredictability in raw materials can delay production schedules and
affect product availability. Advanced manufacturing processes and R&D activities in the bearings
sector demand significant upfront investment. Setting up precision engineering
facilities, testing labs, and automation systems requires substantial capital
outlay. This creates entry barriers for smaller players and increases the
financial pressure on existing manufacturers to sustain innovation while
maintaining cost efficiency. The need to balance product quality, innovation,
and affordability poses ongoing strategic challenges.
Stringent Regulatory Compliance
Regulations governing emissions, vehicle safety, and environmental
sustainability are tightening globally. Bearings must conform to specific
durability, efficiency, and material safety standards. Compliance with evolving
regulations often necessitates redesigning existing product lines, retesting
for certification, and investing in cleaner production technologies. These
demands can increase development costs and extend time-to-market for new
bearing solutions.
Key
Market Trends
Shift Toward Lightweight Materials
Manufacturers are increasingly using lightweight alloys and engineered
plastics in bearing production. Reducing vehicle weight is crucial for
improving fuel economy and extending EV range. Bearings made from advanced
composites or ceramic materials can offer comparable strength to steel while
significantly reducing mass. These materials also provide better corrosion
resistance and performance under high-temperature conditions, enhancing both
efficiency and longevity.
Integration of Smart Bearings
Sensors embedded within bearings are enabling real-time monitoring of
temperature, vibration, and load conditions. Smart bearings contribute to
predictive maintenance systems, allowing vehicle systems to detect wear or
performance issues before failure occurs. This innovation enhances reliability,
reduces downtime, and aligns with broader trends in connected vehicle
technologies. Data generated from smart bearings can also inform design
improvements and maintenance strategies.
Growth of Aftermarket Demand
With longer vehicle lifespans and the rise of do-it-yourself repair
culture, the aftermarket for automotive bearings is experiencing steady growth.
Consumers are seeking high-quality, affordable replacement parts. This trend is
prompting bearing manufacturers to offer product lines tailored to aftermarket
needs, including simplified installation features and packaging. Online retail
and logistics innovations are also supporting faster distribution and broader
access.
Segmental
Insights
Product
Type Insights
The Asia Pacific automotive bearings market is segmented into plain
bearings, rolling element bearings, and ball bearings, each serving distinct
roles within automotive systems. Plain bearings are typically used in
applications where space constraints, cost efficiency, and smooth operation
under lower load conditions are priorities. These bearings operate with sliding
motion between surfaces, offering benefits such as low friction and minimal
maintenance requirements. They are commonly applied in engine components, steering
systems, and transmission systems, where durability and quiet operation are
essential. Their relatively simple design makes them suitable for environments
with variable loads and less sensitivity to misalignment. Rolling element
bearings, which include cylindrical, tapered, and spherical variants, function
by using rolling components between inner and outer races to minimize friction
and support both radial and axial loads. These bearings are engineered to
handle heavier loads and more demanding applications compared to plain
bearings. They are widely integrated into wheel hubs, transmissions, and drive
shafts, where their ability to support high speeds and manage dynamic stress
makes them crucial to vehicle performance and safety. The load-handling capacity
and durability of rolling element bearings make them suitable for commercial
vehicles, heavy-duty applications, and high-performance powertrains.
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Country Insights
In 2024, China leads the Asia Pacific automotive bearings market due to its extensive automotive manufacturing base and strong supply chain infrastructure. High vehicle production across passenger, commercial, and electric vehicle segments drives consistent demand for bearings. Government policies supporting electric mobility and smart manufacturing encourage local manufacturers to upgrade their capabilities, adopting precision-engineered bearings that meet global quality standards. Innovations in materials, heat treatment, and coatings enhance bearing durability, efficiency, and fuel economy. Automation and digital manufacturing ensure consistent quality and high-volume output for OEM and aftermarket needs.
Electric vehicle growth further propels the market, as EVs require specialized bearings with superior thermal stability, noise reduction, and performance at high speeds. Custom-designed bearings for EV drivetrains and systems are increasingly produced to meet this demand. For instance, In 2023, China dominated the global electric vehicle market, responsible for 58% of the 13.7 million BEVs and PHEVs sold globally. With EV penetration rates at 22%, China led in both BEV and PHEV sales, surpassing the US and Germany. China’s influence extends to battery production, where it accounted for 53% of global battery capacity deployed, producing 59% of the total power-hours for EVs. Moreover, China exported 49.5 GWh of battery power, further solidifying its position as the largest EV exporter worldwide. With aggressive incentives and innovations, China continues to lead global EV growth. Rising urbanization and infrastructure expansion are boosting vehicle ownership and the need for both new and replacement bearings. Additionally, China’s efficient logistics and growing e-commerce sector strengthen the aftermarket segment, with domestic suppliers leveraging scale and agility to meet evolving market demands.
In 2024, India stands out as a fast-growing market in the Asia Pacific automotive bearings sector, driven by rising vehicle production, domestic demand, and "Make in India" policies. Increased localization, supportive government schemes like the PLI, and a surge in electric two- and three-wheelers are fueling demand for compact, durable bearings. Investments in advanced manufacturing and a skilled workforce are helping India scale up production and meet evolving automotive needs. For instance, India's automotive industry saw significant growth in the 2022-23 fiscal year, with total vehicle production rising to 25.93 million units, up from 23.04 million the previous year. Domestic sales of passenger vehicles surged by 27%, with utility vehicles seeing a notable increase of 34%. Sales in the commercial vehicle segment grew by 34%, driven by a 49% rise in medium and heavy commercial vehicle sales. Meanwhile, exports showed mixed trends, with passenger vehicle exports rising but exports of three-wheelers and two-wheelers declining.
Japan remains a key market known for high-precision, energy-efficient bearings used in hybrid and electric vehicles. Home to major OEMs and bearing manufacturers, Japan leads in innovation across ceramic, sealed, and low-friction technologies. With a focus on quality, sustainability, and advanced mobility solutions, the country continues to influence global standards in bearing design and performance.
Recent
Developments
- In October 2024, SKF announced the sale of its non-core aerospace
business in Hanover, Pennsylvania, to Carco PRP for approximately USD 216
million. This move is part of SKF's strategy to focus more on its core
automotive and industrial segments. Additionally, SKF revealed plans to spin
off its automotive business into a separate entity, aiming for a listing in
Stockholm by the first half of 2026. This decision is intended to enhance
operational focus and profitability for both divisions.
- In March 2024, NTN Corporation introduced a new bearing designed for
electric vehicles (EVs) and hybrid electric vehicles (HEVs). The "Bearing
with Insulating Coating" features an insulating layer that prevents
electrical pitting, a common issue in EV drivetrains. This innovation allows
the bearing to handle high-voltage environments, with an insulating performance
of over 100V, making it suitable for modern EV applications.
- In September 2023, NBC Bearings began supplying specialized low-noise
bearings to electric vehicle manufacturers in India. These bearings are
tailored for high-speed applications in EV drivetrains, including motor and
wheel hubs. The move aligns with the growing demand for electric two- and
three-wheelers in India, with NBC Bearings securing contracts with companies
like Mahindra Last Mile Mobility, Altigreen, and Ather Energy.
- In 2024, SKF and voestalpine Wire Technology unveiled a prototype spherical roller bearing made from hydrogen direct reduced iron (DRI)-based steel, marking a significant advancement in sustainable manufacturing. Developed at SKF’s factory in Steyr, Austria, the bearing showcases how hydrogen-based steelmaking can reduce carbon emissions in high-demand industries like marine, mining, and construction
Key
Market Players
- SKF AB
- NSK Ltd.
- NTN Corporation
- Schaeffler AG
- JTEKT Corporation
- Timken Company
- MinebeaMitsumi Inc.
- RBC Bearings Incorporated
- C&U Group Co., Ltd.
- Iljin Global Co., Ltd.
|
By Vehicle Type
|
By Product Type
|
By Country
|
- Passenger Cars
- Commercial Vehicles
|
- Plain Bearings
- Rolling Element Bearings
- Ball Bearings
|
- China
- India
- Japan
- Vietnam
- Indonesia
- Australia
- Rest Of Asia Pacific
|
Report
Scope:
In this
report, the Asia-Pacific Automotive Bearings Market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
·
Asia-Pacific Automotive Bearings Market, By Vehicle Type:
o
Passenger Cars
o
Commercial Vehicles
·
Asia-Pacific Automotive Bearings Market, By Product
Type:
o
Plain Bearings
o
Rolling Element Bearings
o
Ball Bearings
·
Asia-Pacific Automotive Bearings Market, By Country:
o
China
o
India
o
Japan
o
Vietnam
o
Indonesia
o
Australia
o
Rest Of Asia Pacific
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies presents in the Asia-Pacific Automotive
Bearings Market.
Available
Customizations:
Asia-Pacific
Automotive Bearings Market report with the given market data,
TechSci Research, offers customizations according to the company’s specific
needs. The following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of additional
market players (up to five).
The Asia-Pacific
Automotive Bearings Market is an upcoming report to be released soon. If you
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please contact us at [email protected]