Engine Bearings Market
Engine Bearings Market Forecasts to 2030 - Global Analysis By Type (Ball Bearings, Roller Bearings, Plain Bearings and Other Types), By Material (Babbitt, Aluminum, Copper and Other Materials), Engine Type, Application, End User and By Geography
According to Stratistics MRC, the Global Engine Bearings Market is accounted for $3.06 billion in 2023 and is expected to reach $4.36 billion by 2030 growing at a CAGR of 5.2% during the forecast period. Engine bearings are critical components in internal combustion engines, providing support and reducing friction between moving parts like the crankshaft and connecting rods. Typically made from materials such as steel, aluminum, or copper, they ensure smooth engine operation by facilitating rotational motion while bearing the engine's load. Engine bearings play a vital role in maintaining engine integrity, efficiency, and longevity.
According to the European Automobile Manufacturers Association, the number of motor vehicles produced in 2022 stood at around 85.4 million, with an increase of almost 5.7% as compared to 2021.
Market Dynamics:
Driver:
Expansion of the automotive industry
The expansion of the automotive industry serves as a significant driver in the engine bearings market. As the automotive sector grows, there is an increased demand for vehicles, resulting in higher production rates. Engine bearings are essential components in automobiles, supporting the engine's moving parts and reducing friction. With more vehicles being manufactured, there is a corresponding rise in the demand for engine bearings, thus driving the growth of the market.
Restraint:
Increasing regulatory requirements related to emissions
Stricter emissions standards necessitate the development of more fuel-efficient and environmentally friendly engines, leading to changes in engine design and materials. This could potentially impact the demand for engine bearings as manufacturers may need to invest in new technologies and materials to comply with regulations, increasing production costs, which negatively impacts market growth.
Opportunity:
Growing demand for high-performance vehicles
High-performance vehicles require engine bearings capable of withstanding higher loads, speeds, and operating temperatures while maintaining reliability and durability. This demand drives the development of specialized engine bearings with advanced materials, coatings, and designs optimized for performance applications. Engine bearing manufacturers can capitalize on this opportunity by offering innovative solutions tailored to the unique requirements of high-performance vehicles, thereby expanding their market presence and revenue.
Threat:
Intense competition
Intense competition poses a significant threat to the engine bearings market due to numerous manufacturers vying for market share. Competitors often engage in price wars, aggressive marketing strategies, and product innovations to gain a competitive edge. This can lead to margin pressure and the erosion of profitability for companies. Moreover, intense competition may result in consolidation within the industry, with smaller players facing challenges in sustaining operations.
Covid-19 Impact:
The COVID-19 pandemic has impacted the engine bearings market, leading to disruptions in global supply chains, manufacturing operations, and consumer demand. Lockdown measures, reduced vehicle production, and economic uncertainties have resulted in a decline in automotive and industrial activities, affecting the demand for engine bearings. However, the gradual recovery of the automotive sector and increased focus on maintenance and repair activities offer some resilience to the market.
The roller bearings segment is expected to be the largest during the forecast period
The roller bearings segment is expected to dominate the engine bearings market during the forecast period due to its widespread adoption in various applications such as automotive, industrial machinery, and aerospace. Roller bearings offer advantages such as higher load capacity, reduced friction, and enhanced durability compared to other bearing types. Additionally, the growing demand for heavy-duty vehicles, machinery, and equipment further drives the need for roller bearings, contributing to their dominance in the market.
The aluminum segment is expected to have the highest CAGR during the forecast period
The aluminum segment is anticipated to witness the highest growth rate during the forecast period in the engine bearing market due to the material's lightweight properties, corrosion resistance, and suitability for high-speed applications in the automotive and aerospace industries. Additionally, advancements in aluminum alloy formulations and manufacturing processes contribute to the segment's growth, offering enhanced performance, durability, and efficiency in engine bearing applications.
Region with largest share:
During the forecast period, Asia Pacific is poised to dominate the engine bearings market owing to the region's significant automotive production, rapid industrialization, and growing investments in infrastructure projects. Additionally, the presence of major automotive and industrial machinery manufacturers in countries like China, India, Japan, and South Korea further drives demand for engine bearings. Moreover, favorable government policies, rising disposable incomes, and increasing vehicle ownership rates contribute to the region's prominence in the engine bearings market.
Region with highest CAGR:
During the forecast period, the Asia-Pacific region is set for rapid expansion in the engine bearings market. This rapid growth is likely fueled by factors like a booming domestic auto industry, particularly in China, alongside a growing demand for electric vehicles. Additionally, government initiatives supporting local manufacturing and increasing infrastructure development will further propel the engine bearing market in this region.
Key players in the market
Some of the key players in Engine Bearings Market include ACL Distribution, Inc., CW Bearing USA, Inc., Daido Metal Co., Ltd., Federal-Mogul Holdings Corporation, JTEKT Corporation, King Engine Bearings, MAHLE GmbH, Miba AG, NSK Ltd., NTN Corporation, RBC Bearings Incorporated, Riken Corporation, Schaeffler Group, SKF Group, SNL Bearings Ltd., Taiho Kogyo Co., Ltd., Timken Company and Waukesha Bearings Corporation.
Key Developments:
In 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.
In March 2023, JTEKT Corporation unified all business brands, including automotive components brand, bearing brands, machine tool brand, and other business brands to JTEKT.
In February 2022, Schaeffler Group announced that they have strengthened their bearings business and also developed new innovative bearings for electromobility that bring high efficiency and sustainable mobility. The new ball bearing with a centrifugal disc also offers exceptional efficiency and greater service life for almost all types of powertrains.
Types Covered:
• Ball Bearings
• Roller Bearings
• Plain Bearings
• Thrust Bearings
• Other Types
Materials Covered:
• Babbitt
• Aluminum
• Copper
• Steel
• Other Materials
Engine Types Covered:
• Internal Combustion (IC) Engines
• Electric Vehicle (EV) Motors
• Hybrid Engines
Applications Covered:
• Automotive
• Aerospace
• Industrial Machinery
• Marine
• Other Applications
End Users Covered:
• Original Equipment Manufacturers (OEMs)
• Aftermarket Parts Suppliers
• Machine Shops and Repair Facilities
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Engine Bearings Market, By Type
5.1 Introduction
5.2 Ball Bearings
5.3 Roller Bearings
5.4 Plain Bearings
5.5 Thrust Bearings
5.6 Other Types
6 Global Engine Bearings Market, By Material
6.1 Introduction
6.2 Babbitt
6.3 Aluminum
6.4 Copper
6.5 Steel
6.6 Other Materials
7 Global Engine Bearings Market, By Engine Type
7.1 Introduction
7.2 Internal Combustion (IC) Engines
7.2.1 Gasoline Engines
7.2.2 Diesel Engines
7.2.3 Natural Gas Engines
7.3 Electric Vehicle (EV) Motors
7.3.1 AC Induction Motors
7.3.2 Permanent Magnet Synchronous Motors (PMSMs)
7.4 Hybrid Engines
8 Global Engine Bearings Market, By Application
8.1 Introduction
8.2 Automotive
8.2.1 Commercial Vehicles
8.2.2 Heavy-duty Trucks
8.2.3 Off-road Vehicles
8.2.4 Passenger Vehicles
8.2.5 Racing Vehicles
8.2.6 Recreational Vehicles (RVs)
8.3 Aerospace
8.3.1 Aircraft Engines
8.3.2 Helicopter Engines
8.3.3 Spacecraft Engines
8.4 Industrial Machinery
8.4.1 Power Generation Equipment
8.4.2 Construction Machinery
8.4.3 Mining Equipment
8.4.4 Agricultural Machinery
8.4.5 Material Handling Equipment
8.4.6 Manufacturing Machinery
8.5 Marine
8.5.1 Marine Engines
8.5.2 Ship Propulsion Systems
8.5.3 Boat Engines
8.6 Other Applications
9 Global Engine Bearings Market, By End User
9.1 Introduction
9.2 Original Equipment Manufacturers (OEMs)
9.3 Aftermarket Parts Suppliers
9.4 Machine Shops and Repair Facilities
9.5 Other End Users
10 Global Engine Bearings Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 ACL Distribution, Inc.
12.2 CW Bearing USA, Inc.
12.3 Daido Metal Co., Ltd.
12.4 Federal-Mogul Holdings Corporation
12.5 JTEKT Corporation
12.6 King Engine Bearings
12.7 MAHLE GmbH
12.8 Miba AG
12.9 NSK Ltd.
12.10 NTN Corporation
12.11 RBC Bearings Incorporated
12.12 Riken Corporation
12.13 Schaeffler Group
12.14 SKF Group
12.15 SNL Bearings Ltd.
12.16 Taiho Kogyo Co., Ltd.
12.17 Timken Company
12.18 Waukesha Bearings Corporation
List of Tables
1 Global Engine Bearings Market Outlook, By Region (2021-2030) ($MN)
2 Global Engine Bearings Market Outlook, By Type (2021-2030) ($MN)
3 Global Engine Bearings Market Outlook, By Ball Bearings (2021-2030) ($MN)
4 Global Engine Bearings Market Outlook, By Roller Bearings (2021-2030) ($MN)
5 Global Engine Bearings Market Outlook, By Plain Bearings (2021-2030) ($MN)
6 Global Engine Bearings Market Outlook, By Thrust Bearings (2021-2030) ($MN)
7 Global Engine Bearings Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Engine Bearings Market Outlook, By Material (2021-2030) ($MN)
9 Global Engine Bearings Market Outlook, By Babbitt (2021-2030) ($MN)
10 Global Engine Bearings Market Outlook, By Aluminum (2021-2030) ($MN)
11 Global Engine Bearings Market Outlook, By Copper (2021-2030) ($MN)
12 Global Engine Bearings Market Outlook, By Steel (2021-2030) ($MN)
13 Global Engine Bearings Market Outlook, By Other Materials (2021-2030) ($MN)
14 Global Engine Bearings Market Outlook, By Engine Type (2021-2030) ($MN)
15 Global Engine Bearings Market Outlook, By Internal Combustion (IC) Engines (2021-2030) ($MN)
16 Global Engine Bearings Market Outlook, By Gasoline Engines (2021-2030) ($MN)
17 Global Engine Bearings Market Outlook, By Diesel Engines (2021-2030) ($MN)
18 Global Engine Bearings Market Outlook, By Natural Gas Engines (2021-2030) ($MN)
19 Global Engine Bearings Market Outlook, By Electric Vehicle (EV) Motors (2021-2030) ($MN)
20 Global Engine Bearings Market Outlook, By AC Induction Motors (2021-2030) ($MN)
21 Global Engine Bearings Market Outlook, By Permanent Magnet Synchronous Motors (PMSMs) (2021-2030) ($MN)
22 Global Engine Bearings Market Outlook, By Hybrid Engines (2021-2030) ($MN)
23 Global Engine Bearings Market Outlook, By Application (2021-2030) ($MN)
24 Global Engine Bearings Market Outlook, By Automotive (2021-2030) ($MN)
25 Global Engine Bearings Market Outlook, By Commercial Vehicles (2021-2030) ($MN)
26 Global Engine Bearings Market Outlook, By Heavy-duty Trucks (2021-2030) ($MN)
27 Global Engine Bearings Market Outlook, By Off-road Vehicles (2021-2030) ($MN)
28 Global Engine Bearings Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
29 Global Engine Bearings Market Outlook, By Racing Vehicles (2021-2030) ($MN)
30 Global Engine Bearings Market Outlook, By Recreational Vehicles (RVs) (2021-2030) ($MN)
31 Global Engine Bearings Market Outlook, By Aerospace (2021-2030) ($MN)
32 Global Engine Bearings Market Outlook, By Aircraft Engines (2021-2030) ($MN)
33 Global Engine Bearings Market Outlook, By Helicopter Engines (2021-2030) ($MN)
34 Global Engine Bearings Market Outlook, By Spacecraft Engines (2021-2030) ($MN)
35 Global Engine Bearings Market Outlook, By Industrial Machinery (2021-2030) ($MN)
36 Global Engine Bearings Market Outlook, By Power Generation Equipment (2021-2030) ($MN)
37 Global Engine Bearings Market Outlook, By Construction Machinery (2021-2030) ($MN)
38 Global Engine Bearings Market Outlook, By Mining Equipment (2021-2030) ($MN)
39 Global Engine Bearings Market Outlook, By Agricultural Machinery (2021-2030) ($MN)
40 Global Engine Bearings Market Outlook, By Material Handling Equipment (2021-2030) ($MN)
41 Global Engine Bearings Market Outlook, By Manufacturing Machinery (2021-2030) ($MN)
42 Global Engine Bearings Market Outlook, By Marine (2021-2030) ($MN)
43 Global Engine Bearings Market Outlook, By Marine Engines (2021-2030) ($MN)
44 Global Engine Bearings Market Outlook, By Ship Propulsion Systems (2021-2030) ($MN)
45 Global Engine Bearings Market Outlook, By Boat Engines (2021-2030) ($MN)
46 Global Engine Bearings Market Outlook, By Other Applications (2021-2030) ($MN)
47 Global Engine Bearings Market Outlook, By End User (2021-2030) ($MN)
48 Global Engine Bearings Market Outlook, By Original Equipment Manufacturers (OEMs) (2021-2030) ($MN)
49 Global Engine Bearings Market Outlook, By Aftermarket Parts Suppliers (2021-2030) ($MN)
50 Global Engine Bearings Market Outlook, By Machine Shops and Repair Facilities (2021-2030) ($MN)
51 Global Engine Bearings Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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