Global Electric Vehicle Bearings Market Size Study, by Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle), by Application (Gearbox/Transmission, Motor, E-Axle, Wheel, Others), by Vehicle (Passenger Vehicle, Com

Global Electric Vehicle Bearings Market Size Study, by Propulsion (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle), 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) and Regional Forecasts 2022-2032

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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