Market Size of Europe Automotive Bearing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Automotive Bearing Market Analysis
The Europe Automotive Bearing market was valued at a USD 7.77 Billion in 2021 and is expected to grow at a value of USD 9.55 Billion by 2027, registering a CAGR of 3.5% in terms of revenue during the forecast period.
COVID-19 had a negative impact on the automotive bearing market. Europe witnessed the major impact of pandemics on the supply chain and manufacturing sector. In addition, due to lockdowns and halted production, the demand for automotive bearings plummeted. However, with life returning to normalcy, the supply chain across the country gaining pace that will likely help the automotive bearing market grow during the forecast period.
Over the long term, the rise in vehicle sales across the region is likely to witness major growth for the market. As the automotive bearing is an integral component of any vehicle due to its basic functionality of allowing the wheels to spin correctly. As a result, automotive bearings have always remained in demand, and with more extensive ownership of personal cars and growing technological advancements, the need for these bearings will only increase.
To improve vehicle performance several manufacturers are introducing light weight bearings which are made of metals like ceramics. Light weight bearings help to increase the fuel efficiency of the vehicle which is likely to witness major growth for the market. Germany is the leader as a producer and an exporter of bearing part; as a result, it is a dominant market in bearing production in Europe. Many high-end bearing components are manufactured across Europe with manufacturing plants in countries France, Italy, Romania, Slovakia and Poland showing a positive growth.
Europe Automotive Bearing Industry Segmentation
Bearings are mechanical devices that help to reduce friction between rotating equipment. The Europe Automotive Bearing market report covers the latest technology trends on the automotive bearings in vehicles, and the market share of major automotive bearing manufacturers across Europe.
The Europe automotive bearing market is segmented into vehicle type, product type, and country. Based on the Vehicle type, the market is segmented into Passenger cars and Commercial Vehicle. Based on the product type, the market is segmented into Plain Bearings, Rolling Element Bearings, and Ball bearings. Based on the country, the market is segmented into Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe. For each segment, market sizing and forecast have been done on the basis of value (USD Billion).
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Product Type | |
| Plain Bearings | |
| Rolling Element Bearings | |
| Ball Bearings |
| Country | |
| Germany | |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe |
Europe Automotive Bearing Market Size Summary
The Europe Automotive Bearing market is poised for growth, driven by the increasing demand for vehicles and the integral role of bearings in ensuring vehicle functionality. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted supply chains and reduced demand, the market is recovering as normalcy returns. The rise in vehicle sales, coupled with technological advancements, is expected to bolster the demand for automotive bearings. Manufacturers are focusing on developing lightweight bearings using materials like ceramics to enhance vehicle performance and fuel efficiency. Germany stands out as a leading producer and exporter of bearing components, with significant manufacturing activities also taking place in countries such as France, Italy, Romania, Slovakia, and Poland. The rolling element bearing segment is particularly dominant, reflecting the rapid expansion of the automotive industry in the region.
The market landscape is characterized by intense competition, prompting manufacturers to innovate and improve their products. Companies like NSK Ltd. and SKF are at the forefront, developing advanced bearing technologies such as bioplastic heat-resistant cages and titanium alloyed bearings. The push towards electric vehicles, driven by stringent emission norms, is further propelling market growth, with manufacturers introducing lightweight bearings to enhance vehicle range. The presence of major vehicle and bearing manufacturers, along with advanced research and development facilities, supports the market's expansion. Strategic collaborations, mergers, and investments in manufacturing capabilities are also shaping the market dynamics. Despite potential challenges from import tariffs, the market is expected to continue its upward trajectory, with significant contributions from key players like NSK Ltd., JTEKT Corporation, NTN Bearing Corporation, and Schaeffler AG.
Europe Automotive Bearing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value- USD Billion)
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2.1 Vehicle Type
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2.1.1 Passenger Cars
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2.1.2 Commercial Vehicles
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2.2 Product Type
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2.2.1 Plain Bearings
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2.2.2 Rolling Element Bearings
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2.2.3 Ball Bearings
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2.3 Country
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2.3.1 Germany
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2.3.2 United Kingdom
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2.3.3 France
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2.3.4 Italy
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2.3.5 Spain
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2.3.6 Rest of Europe
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Europe Automotive Bearing Market Size FAQs
What is the current Europe Automotive Bearing Market size?
The Europe Automotive Bearing Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Europe Automotive Bearing Market?
NSK Ltd., NTN-SNR ROULEMENTS, SKF, JTEKT Corporation and Schaeffler AG are the major companies operating in the Europe Automotive Bearing Market.
