Engine Bearings Market Size, Share & Industry Analysis, By Type (Main Bearing, Connecting Rod Bearing, and Others), By Distribution Channel (OEM and Aftermarket), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Regional Forecast, 2024-2032

The global engine bearings market size was valued at USD 3.05 billion in 2023. The market is projected to grow from USD 3.18 billion in 2024 to USD 4.06 billion by 2032, exhibiting a CAGR of 3.1% during the forecast period.

Bearings are mechanical components that enable rotational or linear movement by reducing friction between moving parts. Bearings are critical in various systems, including engines, transmissions, wheels, steering mechanisms, and other rotating components. Factors such as increasing vehicle production, technological advancements, stringent quality standards, and the need for fuel efficiency drive the demand for automotive bearings. However, the market growth is attributed to increasing vehicle sales and production. Rising vehicle ownership rates, particularly in emerging economies, increase bearings demand.

The COVID-19 outbreak was first reported at the end of December 2019 and was declared a pandemic by the World Health Organization. Various regions' restrictions on cross-border trade and sealing borders disrupted supply chains. China is the major exporter and contributor of automotive components, raw materials, and finished goods, and the disrupted supply chain and other trade restrictions impacted many countries. In addition, the pandemic greatly impacted showroom footfalls as people redirected their investments to recover their financial losses and focus on basic utilities and requirements. Therefore, these factors hampered the market growth.

Engine Bearings Market Trends

High Degree of Research & Development Activities Associated with Engine Bearing to Drive Market Growth

Automakers are constantly working toward improving product designs to enhance performance and fuel efficiency. The growing demand for high-performance bearings has led manufacturers to integrate advanced sensor units into their products. The sensor unit helps digitally monitor the product's axial movement, load capacity, acceleration, deceleration, and rotation speed. In addition, the advent of the Industrial Internet of Things (IIoT) has encouraged the adoption and continuous monitoring of connected devices and machinery. Integrating electromechanical features directly into the bearing helps improve a vehicle's performance and overall efficiency. This is likely to have a positive influence on the engine-bearing market.

Engine Bearings Market Growth Factors

Favorable Trends Associated with Automotive Production to Propel the Market Growth

Globally, growing urbanization, developing infrastructures, and expansion in the industrial sector are the primary factors propelling the automotive industry's growth. Also, the rise in disposable income has bolstered people's living standards, thus encouraging them to purchase new vehicles. Moreover, the government authorities' support for promoting automobile sales and the rising trend for lightweight vehicles are consequently boosting vehicle production dynamics. Prominent automobile companies are investing high capital in expanding their business in emerging economies owing to the increasing demand for high-performance vehicles. These trends will drive the global market in the future.

Reduction in Vehicle Weight to Drive the Market Growth

Improvisation and development in vehicle engine performance have always been significant challenges for the automotive industry. To attain this objective, manufacturers are working toward reducing the overall weight and size of all engine components. Nowadays, aluminum alloys are gaining high traction owing to their advantages, such as lightweight, higher durability, greater strength, maximum corrosion resistance, and enhanced operating ability at high temperatures. Therefore, using aluminum alloys to make bearings will reduce energy loss and ensure high operating efficiency. Also, automotive manufacturers are investing in research to develop lightweight materials, thus improving the fuel efficiency and performance of the vehicles.

RESTRAINING FACTORS

Fluctuations in Cost of Raw Materials May Restrain the Market Growth

Engine bearings are the significant element of the vehicle’s internal combustion engine that holds the camshaft in place and helps in its rotation. These bearings are made of various metals capable of holding heavy loads and constant friction. However, the prices of metals are volatile, which consequently incurs high production costs for the manufacturers. In addition, the rising sales of electric vehicles in many regions can be a major restraining factor in the coming years for the engine bearings market growth. All these factors altogether may hamper the growth of the global market.

Engine Bearings Market Segmentation Analysis

By Type Analysis

Main Bearing Segment is Likely to Grow at Rapid Pace Owing to its Continuous Technology Advancement in Bearings

Based on type, the market is segmented into main bearing, connected rod bearing, and others. Main bearings offer support to the crankshaft and are mounted in the crankcase. A main bearing consists of two parts, upper and lower. The upper part of the main bearing consists of an oil groove on the inner surface. Additionally, it has a hole to pass oil to feed holes in the crankshaft. A few main bearings have thrust bearing elements to support axial loads and prevent movements along the crankshaft axis. Material selection in main bearing manufacturing is essential as it supports crankshaft rotating at high speed. These main bearings contain anti-corrosion properties and are resistant to friction. In addition, these bearings have excellent tensile & compressive strength and superior load-bearing capacity.

Connecting rod bearings guide, support, and enable smooth functioning of connecting rods. These bearings minimize the possibility of wear during rotary motion of connecting rods. Favorable trends associated with automotive production are expected to drive the industry growth over the next few years.

By Distribution Channel Analysis

OEM Segment is Likely to Hold the Largest Market Share Owing to Rising Production of New Vehicles

Based on distribution channel, the market is split into OEM and aftermarket. The OEM segment accounts for the major global market share owing to the operational characteristics and favorable automotive production trend. The automotive manufacturers are leveraging their product development capabilities and allied services such as lubrication, mechatronics, and strong engineering skills to deliver better solutions to their customers and maintain their leading position in the market. Moreover, several technologies are being adopted, and researchers focus on developing highly durable and reliable materials that can hold heavy loads. Moreover, the aftermarket also contributes significantly to the growth of market due to wear & tear of engine bearings. 

By Vehicle Type Analysis

Positive Outlook of Demographic Shifts in Developing Economies Will Drive the Growth of Passenger Cars in Future

Based on vehicle type, the market is categorized into light commercial vehicles, passenger cars, and heavy commercial vehicles. The passenger cars segment captured the largest share of the global market. High demographic growth, improving living standards, and a rise in individuals' income levels are the primary factors for the high growth of passenger cars globally. Also, the rapid innovations and developments in automobiles are gaining high attention of the young population, thereby leveraging this market. Moreover, supportive government policies across nations accelerate the growth of passenger cars, supporting the industry growth in the future. Furthermore, the light & heavy commercial vehicle segment also contributes majorly to the market growth as the sales of these vehicles are expected to rise in the future.

REGIONAL INSIGHTS

The market size in Asia Pacific was USD 1.62 billion in 2023. The Asia Pacific market is expected to dominate the global market due to its presence of major automotive suppliers as well as strong automotive production in this region. India, Japan, and China are the major contributors to the engine bearings market share owing to the rapid development of the automobile industry. Also, the rising disposable income and emerging economy are expected to fuel the market's growth in the coming years. Moreover, high investments in research & development activities in developing highly durable and lightweight materials for vehicles consequently boost the market growth in this region.

Europe captured 19.99% market share in 2023. In April 2019, the European Union adopted regulation 2019/631 to reduce CO₂ emissions from passenger and light commercial vehicles. This regulation specifies fleet-wise emission standards for the next decade. From 2025, regulation 2019/631 specifies strict CO₂ emission targets for a percentage reduction of emissions from 2021. If a manufacturer fails to maintain these targets, a penalty will be levied for each vehicle newly registered in that year. These initiatives will emphasize emission reduction by minimizing vehicle weight. This will lead to the adoption of lightweight engine bearings leading to market growth in the future.

The North America market was valued at USD 0.59 billion in 2023 and will reach USD 0.76 billion by 2032. Huge investments in research & development activities and favorable government policies will drive market growth in North America over the next few years.

List of Key Companies in Engine Bearings Market

Significant Developments in R&D will Form the Basis of Business Expansion

MAHLE has a rising portfolio of engine bearings and other transmission products designed to meet evolving consumer demands worldwide. The company focuses on research & development activities to gain a competitive advantage in the market. Clevite is an engine bearings brand under MAHLE Performance that manufactures engine bearings for camshafts, rods, and mains. The company is constantly under innovation and development to serve high quality products to their customers, which will likely help the company increase profitability.  

LIST OF KEY COMPANIES PROFILED:

• MAHLE Aftermarket GmbH (Germany)


• Daido Metal Co., Ltd. (Japan)


• JTEKT Corporation (Japan)


• NSK Ltd. (Japan)


• King Engine Bearing, Inc. (U.S.)


• Hartford Technologies, Inc. (U.S.)


• KS Kolbenschmidt GmbH (Germany)


• Schaeffler Technologies AG & Co. KG (Germany)


• ACL (Australia)


• Menon Bearings Ltd. (India)

KEY INDUSTRY DEVELOPMENTS:

• March 2023 – JTEKT Corporation unified all business brands, including automotive components brand, bearing brands, machine tool brand, and other business brands to JTEKT.


• March 2023 – NSK developed a new method for predicting the life of steel rolling bearings based on statistical data of non-metallic inclusions in the steel from ultrasonic testing.


• August 2022 – Hartford Technologies opened a new plant in Connecticut to expand service and product offerings.


• October 2021 – Toyota’s new Land Cruiser is equipped with JTEKT’s TORSEN LSD and third-generation tapered roller-bearing hub unit.


• November 2020 – KS Kolbenschmidt GmbH expanded its product portfolio of plain bearings for industrial customers and commercial vehicles.

REPORT COVERAGE

The research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the market's growth in recent years. 

Report Scope & Segmentation