Summary

The global electric vehicle bearings market, valued at approximately USD 2,261.5 million in 2023, is projected to reach an impressive USD 41,127.0 million by 2032, exhibiting a robust CAGR of 34.1% over the forecast period 2023-2032. Electric vehicle bearings are crucial in supporting axial and radial loads while minimizing friction in electric vehicles. The growing trend toward reducing vehicle weight is a key driver of the global electric vehicle bearings market. Increased investment in R&D by manufacturers is also propelling market growth, as is the introduction of innovative new products. The market's growth is predominantly driven by the surging demand for electric vehicles and the need for high-speed electric vehicle bearings. Additionally, the industry's focus on vehicle weight reduction significantly contributes to the market's expansion.
Government policies favouring electric vehicle adoption, advancements in bearing material and lubrication technologies, and heightened competition in the electric vehicle sector present significant growth opportunities for the electric vehicle bearings market. Despite some challenges, such as optimizing bearing size without compromising motor power and addressing issues with cage design, ongoing developments are expected to overcome these obstacles during the forecast period.
As the electric vehicle market evolves rapidly, the bearings used in these vehicles are subject to various performance parameters, including a broader operating temperature range and increased speed range. The optimization and integration of electric vehicle powertrains have led to new bearing requirements. Major manufacturers like NSK Ltd., AB SKF, and NTN Corporation are developing products to meet current and future needs of electric vehicle powertrain producers. Electric vehicle bearing producers are exploring lightweight bearing materials and new lubricant and grease formulations, which can significantly enhance electric vehicle motor efficiency and contribute to overall vehicle efficiency improvements.
The key regions considered for the Global Electric Vehicle Bearings Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Electric Vehicle Bearings Market in terms of revenue. The growth of the electric vehicle (EV) bearings market in North America is driven by increased EV adoption, advancements in bearing technology, stringent emissions regulations, and government incentives. Enhanced focus on sustainable transportation, investments in EV infrastructure, and rising consumer demand for high-performance, energy-efficient vehicles also contribute significantly to market expansion. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period.
Major market players included in this report are:
NSK Ltd.
AB SKF
NTN Corporation
JTEKT Corporation
The Timken Company
Schaeffler Technologies AG & Co. KG
NBC Bearings (NEI Ltd.)
NRB Bearings Limited
ILJIN Co., Ltd.
Fersa Bearings S.A.
Wafangdian Bearing Group Corp., Ltd. (ZWZ)
C&U GROUP CO., LTD.
Zhejiang XCC Group Co., Ltd.
Nachi-Fujikoshi Corp.
NMB Technologies Corporation
The detailed segments and sub-segment of the market are explained below:
By Propulsion:
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
By Application:
• Gearbox/Transmission
• Motor
• E-Axle
• Wheel
• Others
By Vehicle:
• Passenger Vehicle
• Commercial Vehicle
By Sales Channel:
• OEM
• Aftermarket
By Product:
• Roller Bearing
• Ball Bearing
• Composite Bearing
By Material:
• Steel
• Ceramic
• Polymer
• Others
Common content for Report Description
By Region:
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
Latin America
• Brazil
• Mexico
Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA
Years considered for the study are as follows:
• Historical year – 2021
• Base year – 2022
• Forecast period – 2023 to 2031
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2031.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market

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Table of Contents

Chapter 1. Global Electric Vehicle Bearings Market Executive Summary
1.1. Global Electric Vehicle Bearings Market Size & Forecast (2022-2031)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Propulsion
1.3.2. By Application
1.3.3. By Vehicle
1.3.4. By Sales Channel
1.3.5. By Product
1.3.6. By Material
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Electric Vehicle Bearings Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Electric Vehicle Bearings Market Dynamics
3.1. Market Drivers
3.1.1. Rising Demand for Electric Vehicles
3.1.2. Increasing Focus on Vehicle Weight Reduction
3.1.3. Advancements in Bearing Material and Lubrication Technologies
3.2. Market Challenges
3.2.1. Bearing Size Optimization
3.2.2. Cage Design Challenges
3.3. Market Opportunities
3.3.1. Government Policies Supporting Electric Vehicles
3.3.2. New Product Launches and Innovations
3.3.3. Increased Investment in R&D

Chapter 4. Global Electric Vehicle Bearings Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Electric Vehicle Bearings Market Size & Forecasts by Propulsion 2022-2031
5.1. Segment Dashboard
5.2. Global Electric Vehicle Bearings Market: Propulsion Revenue Trend Analysis, 2022 & 2031 (USD Million)
5.2.1. Battery Electric Vehicle (BEV)
5.2.2. Hybrid Electric Vehicle (HEV)
5.2.3. Plug-In Hybrid Electric Vehicle (PHEV)

Chapter 6. Global Electric Vehicle Bearings Market Size & Forecasts by Application 2022-2031
6.1. Segment Dashboard
6.2. Global Electric Vehicle Bearings Market: Application Revenue Trend Analysis, 2022 & 2031 (USD Million)
6.2.1. Gearbox/Transmission
6.2.2. Motor
6.2.3. E-Axle
6.2.4. Wheel
6.2.5. Others

Chapter 7. Global Electric Vehicle Bearings Market Size & Forecasts by Vehicle 2022-2031
7.1. Segment Dashboard
7.2. Global Electric Vehicle Bearings Market: Vehicle Revenue Trend Analysis, 2022 & 2031 (USD Million)
7.2.1. Passenger Vehicle
7.2.2. Commercial Vehicle

Chapter 8. Global Electric Vehicle Bearings Market Size & Forecasts by Sales Channel 2022-2031
8.1. Segment Dashboard
8.2. Global Electric Vehicle Bearings Market: Sales Channel Revenue Trend Analysis, 2022 & 2031 (USD Million)
8.2.1. OEM
8.2.2. Aftermarket

Chapter 9. Global Electric Vehicle Bearings Market Size & Forecasts by Product 2022-2031
9.1. Segment Dashboard
9.2. Global Electric Vehicle Bearings Market: Product Revenue Trend Analysis, 2022 & 2031 (USD Million)
9.2.1. Roller Bearing
9.2.2. Ball Bearing
9.2.3. Composite Bearing

Chapter 10. Global Electric Vehicle Bearings Market Size & Forecasts by Material 2022-2031
10.1. Segment Dashboard
10.2. Global Electric Vehicle Bearings Market: Material Revenue Trend Analysis, 2022 & 2031 (USD Million)
10.2.1. Steel
10.2.2. Ceramic
10.2.3. Polymer
10.2.4. Others

Chapter 11. Global Electric Vehicle Bearings Market Size & Forecasts by Region 2022-2031
11.1. North America Electric Vehicle Bearings Market
11.1.1. U.S. Electric Vehicle Bearings Market
11.1.1.1. Propulsion breakdown size & forecasts, 2022-2031
11.1.1.2. Application breakdown size & forecasts, 2022-2031
11.1.1.3. Vehicle breakdown size & forecasts, 2022-2031
11.1.1.4. Sales Channel breakdown size & forecasts, 2022-2031
11.1.1.5. Product breakdown size & forecasts, 2022-2031
11.1.1.6. Material breakdown size & forecasts, 2022-2031
11.1.2. Canada Electric Vehicle Bearings Market

11.2. Europe Electric Vehicle Bearings Market
11.2.1. UK Electric Vehicle Bearings Market
11.2.2. Germany Electric Vehicle Bearings Market
11.2.3. France Electric Vehicle Bearings Market
11.2.4. Spain Electric Vehicle Bearings Market
11.2.5. Italy Electric Vehicle Bearings Market
11.2.6. Rest of Europe Electric Vehicle Bearings Market

11.3. Asia-Pacific Electric Vehicle Bearings Market
11.3.1. China Electric Vehicle Bearings Market
11.3.2. India Electric Vehicle Bearings Market
11.3.3. Japan Electric Vehicle Bearings Market
11.3.4. Australia Electric Vehicle Bearings Market
11.3.5. South Korea Electric Vehicle Bearings Market
11.3.6. Rest of Asia Pacific Electric Vehicle Bearings Market

11.4. Latin America Electric Vehicle Bearings Market
11.4.1. Brazil Electric Vehicle Bearings Market
11.4.2. Mexico Electric Vehicle Bearings Market
11.4.3. Rest of Latin America Electric Vehicle Bearings Market

11.5. Middle East & Africa Electric Vehicle Bearings Market
11.5.1. Saudi Arabia Electric Vehicle Bearings Market
11.5.2. South Africa Electric Vehicle Bearings Market
11.5.3. Rest of Middle East & Africa Electric Vehicle Bearings Market

Chapter 12. Competitive Intelligence
12.1. Key Company SWOT Analysis
12.1.1. Company 1
12.1.2. Company 2
12.1.3. Company 3
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. NSK Ltd.
12.3.1.1. Key Information
12.3.1.2. Overview
12.3.1.3. Financial (Subject to Data Availability)
12.3.1.4. Product Summary
12.3.1.5. Market Strategies
12.3.2. AB SKF
12.3.3. NTN Corporation
12.3.4. JTEKT Corporation
12.3.5. The Timken Company
12.3.6. Schaeffler Technologies AG & Co. KG
12.3.7. NBC Bearings (NEI Ltd.)
12.3.8. NRB Bearings Limited
12.3.9. ILJIN Co., Ltd.
12.3.10. Fersa Bearings S.A.
12.3.11. Wafangdian Bearing Group Corp., Ltd. (ZWZ)
12.3.12. C&U GROUP CO., LTD.
12.3.13. Zhejiang XCC Group Co., Ltd.
12.3.14. Nachi-Fujikoshi Corp.
12.3.15. NMB Technologies Corporation

Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes