Engine Bearings Market

High Level of Engine Bearing Research & Development Activities to Drive Market Growth

Automobile manufacturers are always trying to improve product designs to boost performance and fuel economy. Advanced sensor units are now being incorporated into goods by manufacturers as a result of the rising need for high-performance bearings. The sensor unit aids in the digital monitoring of the product's rotation speed, load capacity, acceleration, and deceleration. The Industrial Internet of Things (IIoT) has also promoted the adoption and ongoing monitoring of connected machinery and devices. The performance and general efficiency of a vehicle can be increased by directly integrating electromechanical components into the bearing.

The market for engine bearings is anticipated to benefit from this.

The key drivers of the automobile industry's growth on a global scale are rising urbanization, expanding infrastructure, and the industrial sector. Additionally, the rise in disposable income has improved peoples' standards of life, which motivates them to buy new cars. Additionally, the increasing demand for lightweight automobiles and government support for promoting auto sales are subsequently enhancing dynamics in vehicle production. Due to the rising demand for high-performance automobiles, renowned automakers are investing significant cash in growing their businesses in emerging markets. Future market growth will be fueled by these trends.

The automotive industry has long faced substantial issues related to engine performance development and improvisation. Manufacturers are striving to lighten the overall weight and size of all engine components in order to achieve this goal. Aluminum alloys are popular nowadays because of their benefits, including their light weight, increased durability, increased strength, maximum resistance to corrosion, and improved performance at high temperatures. Bearings made of aluminum alloys will therefore operate more efficiently and lose less energy. Additionally, the performance and fuel efficiency of automobiles are being enhanced by automotive manufacturers' investments in research to create lightweight materials.

Thus, driving the engine bearings Industry revenue.

The Global Engine Bearings Market Industry is poised for growth as automotive production continues to rise. In 2024, the market is valued at approximately 3.28 USD Billion, driven by the increasing demand for vehicles across various regions. Countries such as China and India are witnessing a surge in automotive manufacturing, which subsequently boosts the need for engine components, including bearings. This trend is expected to continue, as manufacturers seek to enhance vehicle performance and efficiency. Consequently, the Global Engine Bearings Market Industry is likely to benefit from the expanding automotive sector, with projections indicating a market value of 4.85 USD Billion by 2035.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American engine bearings market area will dominate this market. Huge investments in R&D and favorable government regulations will drive market expansion in North America during the next few years. Furthermore, increased disposable income and an emerging economy are likely to boost market expansion in the approaching years.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: ENGINE BEARINGS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe engine bearings market accounts for the second-largest market share due to the presence of multiple automotive manufacturers in the region. Furthermore, the implementation of strict regulations on the development and use of lightweight vehicles by regulatory bodies such as the Environmental Protection Agency (EPA) and Corporate Average Fuel Economy (CAFÉ), as well as an increase in demand for and sales of commercial vehicles in Europe, are fueling the market in the region. Further, the German engine bearings market held the largest market share, and the UK engine bearings market was the fastest growing market in the European region

The Asia-Pacific Engine Bearings Market is expected to grow at the fastest CAGR from 2023 to 2032 attributable to the surge in automotive production and sales. The region's market is mostly driven by China's high automotive output. Furthermore, rising purchasing power in developing countries is likely to boost market expansion in Asia Pacific in the approaching years. Moreover, China’s engine bearings market held the largest market share, and the Indian engine bearings market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the engine bearings market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, engine bearings industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global engine bearings industry to benefit clients and increase the market sector. In recent years, the engine bearings industry has offered some of the most significant advantages to medicine. Major players in the engine bearings market are attempting to increase market demand by investing in research and development operations includes MAHLE Aftermarket GmbH (Germany), JTEKT Corporation (Japan), Daido Metal Co., Ltd. (Japan), King Engine Bearing, Inc. (U.S.), KS Kolbenschmidt GmbH (Germany), Hartford Technologies, Inc. (U.S.), Schaeffler Technologies AG & Co.

KG (Germany), NSK Ltd. (Japan), ACL (Australia) and Menon Bearings Ltd. (India).

Systems and engine accessories are made by MAHLE Aftermarket GmbH for internal combustion engines. The company provides motorsports, customized engines, tiny engine components, air management, liquid management, valve train, and piston systems. Products from MAHLE Aftermarket are geared toward the auto sector. Worldwide customers are served by MAHLE Aftermarket. The company is one of the top three systems suppliers globally for engine systems, filtration, mechatronics, electrics, and thermal management. It is a maker of components and systems for the combustion engine and its peripherals.

Schaeffler Technologies AG & Company KG creates systems and solutions for the machine building, aviation, automotive, and aerospace industries. The business offers maintenance supplies, torsion dampers, roll bearings, linear products, calculation tools, plain bearings, and clutch systems for sale. Schaeffler Technologies provides global operations. The Schaeffler Group owns the trademarks INA, FAG, and LuK. The organizations in charge of marketing these well-known brands in Germany are Schaeffler Technologies AG & Co. KG and LuK GmbH & Co. oHG.