Press release
North America Automotive Bearing Market to Grow at 4.2% CAGR Through 2030 | DataM Intelligence
North America Automotive Bearing Market
According to DataM Intelligence, the North America Automotive Bearing Market is projected to grow at a CAGR of 4.2% during the forecast period (2024-2030). The industry recovery post‐COVID‐19, growing vehicle ownership, and rapid electric vehicle manufacturing are driving the demand for automotive bearings across the region. Bearings play a crucial role in improving vehicle performance by reducing friction, enhancing motion efficiency, and increasing vehicle lifespan.
Despite supply chain disruptions during the pandemic, the North American market has regained momentum, driven by technological innovation, lightweight component production, and the region's increasing emphasis on sustainable automotive design. The robust sales of hatchbacks and SUVs in the United States further support long‐term market expansion as automakers integrate more compact and advanced bearing systems suited for electric mobility.
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Key Highlights from the Report
➤ North America Automotive Bearing Market expected to register 4.2% CAGR during 2024-2030.
➤ Growth driven by rising vehicle production and increasing adoption of electric vehicles.
➤ Rolling element bearings held significant market share in 2023 and remain highly preferred by manufacturers.
➤ United States dominated the regional market due to stringent EPA and CAFÉ regulations promoting lightweight vehicles.
➤ Major companies investing in bioplastic, corrosion‐resistant, and high‐speed bearing technologies.
➤ M&A and facility expansion efforts by leading bearing manufacturers fuel industry competitiveness.
Market Segmentation
Product Type Insights
The rolling element bearing segment dominated the market in 2023 and is poised for continued growth through 2030. Their high load capacity, durability, and low‐maintenance requirements make them essential for modern vehicle designs. Automakers are integrating innovative sealed bearings designed to keep dust and debris away, improving service life and performance.
Rapid technological advancements in EV‐compatible bearings also enhance the segment's demand. For example, in October 2021, NSK Ltd. introduced the world's first 100% bioplastic heat‐resistant cage for rolling bearings capable of withstanding temperatures up to 120 °C-pioneering a sustainable alternative to traditional petroleum‐based materials.
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Regional Insights
United States
The United States remains the largest automotive‐bearing market in North America, supported by high vehicle sales and stringent fuel‐efficiency standards. Regulatory bodies like the Environmental Protection Agency (EPA) and Corporate Average Fuel Economy (CAFÉ) mandate the production of lightweight, fuel‐efficient vehicles. This has encouraged manufacturers to develop smaller, low‐friction, and lightweight bearings that increase MPG performance.
The demand for sustainably produced and recyclable alloy‐based bearings continues to rise, driven by life‐cycle assessment (LCA) studies targeting low emission manufacturing and recyclable materials. Automotive sales growth (4% increase in 2023) is strengthening domestic bearing consumption despite fluctuations in raw material pricing, especially aluminum.
Mexico and Canada
Mexico and Canada also represent growing markets driven by manufacturing expansions and the increasing integration of OEM supply chains under USMCA trade policies. Manufacturers like JTEKT Corporation and SKF are expanding facilities in Mexico to enhance regional distribution and manufacturing efficiency.
Market Dynamics
Market Drivers:
The resurgence of automobile manufacturing post‐pandemic and rising EV adoption drive steady demand for advanced bearings. The adoption of lightweight and corrosion‐resistant materials complements the region's green mobility initiatives.
Market Restraints:
Volatility in steel and aluminum prices and a competitive pricing environment pose profitability challenges for manufacturers. Supply chain disruptions and energy cost fluctuations are further hindering smooth production.
Market Opportunities:
Increasing investments in EVs and hybrid‐vehicle components offer new avenues for automotive bearing innovation. Emerging technologies such as bioplastic and high‐speed hybrid ball bearings present sustainable and durable alternatives for next‐generation vehicles.
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Reasons to Buy the Report
✔ Comprehensive analysis of regional trends and market growth drivers for North America.
✔ Detailed segmentation by bearing type and automotive application for informed strategy.
✔ Insights into innovation in materials and EV integration for future‐ready production.
✔ Profiles of key players and recent technological developments enhancing competition.
✔ Assessment of M&A activities, expansions, and regulatory factors influencing the industry.
Frequently Asked Questions (FAQs)
◆ How big is the North America Automotive Bearing Market by 2030?
◆ What is the projected CAGR of the North America Automotive Bearing Market?
◆ Which product type segment dominates the regional market?
◆ Who are the key manufacturers and innovators in North America?
◆ Which countries offer the highest growth potential within the region?
Company Insights
NSK Bearings
JTEKT Corporation
NTN Bearings
SKF Group
Myonic GmbH
Recent Developments:
- In August 2022, SKF introduced a hybrid deep‐groove ball bearing with a two‐piece polymer cage, optimized for high‐speed EV applications.
- In May 2022, NTN Corporation launched high‐speed deep‐groove ball bearings for e‐axle drive systems in EV and hybrid vehicles.
- In February 2022, Schaeffler AG announced its "TriFinity" triple‐row wheel bearing for heavy‐load EV powertrains, enhancing durability and rigidity.
- In October 2021, NSK Ltd. developed the world's first bioplastic heat‐resistant bearing cage offering greater sustainability.
- In July 2021, JTEKT Corporation unveiled high corrosion‐resistant bearings for hydrogen circulation pumps in fuel‐cell vehicles.
Conclusion
The North America Automotive Bearing Market is on a steady growth path through 2030, sustained by vehicle production recovery, electrification trends, and technological innovations in bearing materials and design. Manufacturers are prioritizing sustainability, lightweighting, and durability to meet government emission regulations and consumer expectations for high‐performance vehicles. As the region accelerates its transition toward clean mobility solutions, the bearings market is poised to expand consistently, driven by research advancements and strong industrial investments across the United States, Canada, and Mexico.
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USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
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About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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