India Automotive Bearing Market Segmented By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Two-Wheelers), By Application (Engine, Transmission, Wheel, Steering, Others), By Bearing Type (Ball Bearing, Roller Bearing, Plain Bearing), By Demand Category (OEM, Aftermarket), By Region (North, West, South, East), Competition Forecast & Opportunities, 2019-
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
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The Global India Automotive Bearing Market size reached USD 49.77 Billion in 2023 and is expected to grow with a CAGR of 7.18% in the forecast period.
The global automotive bearings market is a critical component of the automotive industry, providing essential functionality in various vehicle systems. Bearings are crucial for reducing friction between moving parts, thereby enhancing efficiency and durability in vehicles. They are utilized in diverse applications such as engines, transmissions, wheels, and steering systems, contributing significantly to overall vehicle performance.
Key Market Drivers
Increasing Vehicle Production and Sales
The global automotive bearings market is driven by the continuous growth in vehicle production and sales worldwide. As emerging economies experience rising income levels and increased urbanization, there is a growing demand for automobiles. This surge in demand directly translates to an increased need for automotive bearings, as they are essential components in various vehicle systems, including engines, transmissions, and wheels. As automotive manufacturers strive to meet the escalating demand, the automotive bearings market benefits from a sustained growth trajectory. This driver is particularly significant in regions like Asia-Pacific, where countries like China and India have become major hubs for automotive production and consumption.
Technological Advancements in Bearings
Technological advancements play a pivotal role in shaping the automotive bearings market. The industry has witnessed continuous innovation, with the development of advanced bearing materials, coatings, and designs. These innovations contribute to improved performance, durability, and efficiency of automotive bearings. The integration of technologies such as smart bearings, which can monitor and communicate their operating conditions, further enhances the market's appeal.These advancements not only meet the evolving requirements of modern vehicles but also contribute to reducing maintenance costs and enhancing overall vehicle performance.
In September 2023, NBC Bearings introduced specialized low-noise bearings and initiated deliveries to EV manufacturers in India, focusing on applications such as motor and wheel hubs in electric two- and three-wheel vehicles. The Jaipur-based NBC Bearings, a part of the CK Birla Group, expanded its product range to meet the specific needs of the growing EV sector, securing contracts with major clients including Mahindra Last Mile Mobility, Altigreen, and Ather Energy. These bearings are designed to provide durable performance at high speeds typical of EV drivetrains, serving critical roles in wheel hubs, steering systems, and motors, underscoring NBC Bearings' collaborative approach with its customers.
Growing Emphasis on Fuel Efficiency
Increasing regulatory pressures and consumer awareness regarding environmental concerns have led to a growing emphasis on fuel efficiency in the automotive industry. Automotive bearings, being integral components of engines and drivetrain systems, play a crucial role in achieving fuel efficiency goals. Manufacturers are increasingly adopting lightweight and low-friction bearing technologies to reduce energy losses and improve overall fuel efficiency. This trend is expected to gain further traction as automotive companies strive to meet stringent emission standards and cater to consumer preferences for eco-friendly vehicles.
Rising Demand for Electric Vehicles (EVs)
The global shift towards sustainable transportation has led to a surge in the demand for electric vehicles (EVs). Unlike traditional internal combustion engine vehicles, electric vehicles rely heavily on various bearing types for smooth operation. This includes bearings in electric motors, transmissions, and other critical components. As the adoption of electric vehicles continues to rise, the automotive bearings market benefits from a growing customer base. The unique requirements of EVs, such as higher rotational speeds and different load patterns, also drive the need for specialized bearing solutions, creating new opportunities for market growth.
Increasing Vehicle Lifespan
The prolonged lifespan of vehicles, aided by advancements in manufacturing and maintenance practices, contributes significantly to the demand for automotive bearings. As consumers expect their vehicles to remain operational for longer periods, the need for reliable and durable bearing systems becomes paramount. Automotive bearings play a crucial role in ensuring the longevity of various vehicle components, from wheel hubs to gearbox assemblies. This factor is particularly relevant in mature automotive markets where consumers are inclined to retain their vehicles for extended durations, driving aftermarket demand for replacement bearings.
Growing Focus on R&D Activities
The automotive bearings market benefits from continuous research and development (R&D) activities aimed at enhancing bearing performance, durability, and cost-effectiveness. Manufacturers are investing in R&D to develop advanced materials, lubrication technologies, and manufacturing processes, contributing to the overall improvement of bearing solutions. This emphasis on innovation not only helps companies stay competitive but also addresses evolving industry challenges such as the need for compact, lightweight bearings with improved load-carrying capacities. R&D-driven advancements are pivotal in sustaining the market's growth and addressing the dynamic needs of the automotive sector.
Expansion of Aftermarket Services
The aftermarket segment is a crucial driver for the automotive bearings market. As vehicles age and undergo wear and tear, the need for replacement bearings becomes evident. The expansion of aftermarket services, including maintenance and repair, contributes significantly to the sustained demand for automotive bearings. The aftermarket provides opportunities for manufacturers to supply replacement bearings, catering to the diverse requirements of vehicle owners. This aspect is especially relevant in regions where the vehicle parc is aging, and consumers seek cost-effective solutions to keep their vehicles operational.
Globalization of Automotive Supply Chains
The globalization of automotive supply chains has a direct impact on the automotive bearings market. As automotive manufacturers expand their operations globally, the demand for bearings follows suit. The establishment of production facilities in diverse geographical locations ensures a consistent need for bearings across different markets. This driver is closely tied to the overall growth of the automotive industry on a global scale. The strategic placement of manufacturing facilities, coupled with efficient supply chain management, enables automotive bearing manufacturers to cater to the demands of both local and international markets, fostering sustained market expansion.
Recent Developments
- Schaeffler India establishes adistribution and consolidation center in Hosur in 2022. The cutting-edgefacility has a surface area of 100,000 square feet and is furnished with moderninfrastructure and technology.
- In2022, Svenska Kullagerfabriken (SKF) announced that, in a range ofapplications, its magnetic bearings, which have a maximum rotational speedof 50,000 rpm, will play a key role in reducing CO2 emissions.
- InSeptember 2022, SKF and Televic GSP signed a letter of intent (LOI) toinvestigate the possibility of collaborating to improve rolling stockreliability and minimize maintenance costs for clients.
- AMemorandum of Understanding (MoU) was signed in 2022 between SKF and ABB toinvestigate the potential for cooperation in the automation of manufacturingprocesses.
- In2021, The NTN Corporation achieved a high speed rotation supporting dmn valueof 2.2 million using high speed deep groove ball bearings for e-Axle drivesystems for EVs and motors and transmissions for HEVs under oil lubrication.
Market Segmentation
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The India Automotive Bearing Market is segmented based on, by vehicle type, by application type, by bearing type, by demand category, by region. On the basis of vehicle type the market is segmented into Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, and Two-Wheelers. Based on the application type, it is further segmented into Engine, Transmission, Wheel, Steering, Others. Furthermore, on the basis of Bearing Type, the market is segmented into Ball Bearing, Roller Bearing, and Plain Bearing. Based on demand category, the market is divided into OEM, and Aftermarket. Further, the market is also divided into region wise mainly North, West, South and East.
Key Market Players
- JTEKT Corporation
- AB SKF
- Schaeffler AG
- NSK Ltd.
- NTN Corporation
- The Timken Company
- Nippon Thompson Co., Ltd.
- RBC Bearings Incorporated
- MinebeaMitsumi Inc.
- CW Bearing GmbH
Company Insights
In 2023, Timken Corporation revealed that Ford Motor Company's F-150 Lightning, the first widely found at electric light-duty pickup truck to hit the market, is using their packaged wheel bearings.
In August 2022, A novel hybrid deep groove ball bearing for high-speed applications was developed by SKF.
In 2022, SKF has developed a new hybrid deep groove ball bearing with new high-performance two-piece polymer cage for high-speed applications.
In 2022, a Multi Track Magnetic Encoder Integrated Rolling Bearing with outstanding environmental resistance and high-resolution angle detection was developed by New Technology Network (NTN) Company. The bearing unit enhances performance by integrating a bearing and a magnetic type of encoder.
Company Profiles
Some of the major players which are leading in India automotive bearing market are Schaeffler India Ltd, SKF Bearings India, Timken India Ltd, NRB Bearings Ltd, Menon Bearings Ltd, NTN Bearing India Pvt. Ltd, THB Bearings Co. Ltd, ISB Industries Private Limited, Bimetal Bearing Ltd., JTEKT India Limited
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Attribute |
Details |
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Base Year |
2023 |
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Historical Years |
2019 – 2022 |
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Estimated Year |
2024 |
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Forecast Period |
2025 – 2029 |
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Quantitative Units |
Revenue in USD Million and Volume in Units and CAGR for FY2019-FY2023 and FY2024-FY2029 |
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Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
By Vehicle Type By Application Type By Bearing Type By Demand Category By Region |
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Key Companies Profiled |
Schaeffler India Ltd, SKF Bearings India, Timken India Ltd, NRB Bearings Ltd, Menon Bearings Ltd, NTN Bearing India Pvt. Ltd, THB Bearings Co. Ltd, ISB Industries Private Limited, Bimetal Bearing Ltd., JTEKT India Limited |
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Customization Scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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