Automotive Performance Engine Bearings Market Size, Share, Growth, And Industry Analysis By Type (Online, Offline), By Application (Low to medium load, High to extreme load) and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

automotive performance engine bearings market Report Overview

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The global automotive performance engine bearings market size was USD 387 million in 2021 and is expected to reach USD 549 million by 2027, at CAGR of 6.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the automotive performance engine bearings market experiencing higher/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

An engine bearing is a slide or pin bearing on which the crankshaft rotates in the internal combustion engine of a car. The main function of the engine bearing is to hold the crankshaft in its current position to prevent the crankshaft from turning. In addition, they prevent the force exerted by the piston on the crankshaft. Nowadays, several developments in automotive engine bearings have improved their performance and extended the life of the machine.

 Increasing average age of vehicles is a determining factor in the market revenue growth of automotive performance engine bearings business, and increasing demand for off-road vehicles and two-wheelers is contributing to the growth of the market. The global automotive performance engine bearings market is driven by advancements in the automotive industry, changes in living standards and rising disposable incomes in developing countries. Additionally, significant growth in automobile manufacturing is expected to boost market growth in the near future. In addition, the advancement of technology and the focus of researchers on the production of strong materials are expected to accelerate the growth of the market.

COVID-19 Impact: Vehicle Production Declined During the Pandemic Hampered Market Growth

The coronavirus outbreak was first reported in late December 2019 and declared a pandemic by the World Health Organization. Countries around the world respond differently to virus outbreaks. In China and other major countries, delays in testing and response overwhelmed the local health system. Restrictive measures such as total closure, isolation, social distancing and quarantine were the most effective measures to prevent the spread of the disease.  However, these measures led to the closure of businesses, which ended all economic activity. The automotive industry has been severely affected by the COVID-19 outbreak, especially as both value and supply chain actors have experienced severe disruptions due to the global spread of the virus. In China, suppliers around the world have quarantined production lines or shut them down completely.

Latest Trends

"Increasing The Use Of Bearings In Wind Turbines Propel Market Growth"

Renewables in the energy sector will benefit most directly from an innovative and dynamic wearables industry. From tapered roller bearings to the more traditional ball bearings used in turbine generators. Bearings are needed for the wind turbine propellers, shaft and generator module. Bearings must therefore be adapted to each application. They must make the motion frictionless, reduce thermal expansion, reduce heat loss and improve the overall efficiency of the turbine. However, the ball bearing is constantly revised and improved, which has changed renewable energy sources. For future turbines, new developments with asymmetric spherical roller bearings can help improve power transmission between the engine and the propeller.

automotive performance engine bearings market Segmentation

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• By Type Analysis

According to type, the market can be segmented into online, offline.

Online is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into low to medium load, high to extreme load. Low to medium load will be dominating segment.

Driving Factors

"Favorable Trends Related To Automobile Manufacturing to Drive the Market Growth "

Globally increasing urbanization, developing infrastructure and industrial expansion are the main drivers for the automotive performance engine bearings market growth. The increase in disposable income also raised people's living standards and encouraged the purchase of new vehicles. In addition, the support of state authorities for the promotion of the car business and the upward trend of light vehicles thus increase the dynamics of vehicle production. Magnificent car companies are investing a lot of capital to expand their business in emerging economies as demand for high-performance vehicles increases. These trends will drive global markets in the future.

"Using Roller Bearings To Foster Market Growth"

Wheel roller bearings are used to evenly distribute the load of the vehicle during acceleration. Due to low friction and wear, roller bearings require less lubrication, which is a big advantage of this type. In addition, tapered roller bearings are used for heavy loads or in situations where the load can change significantly during bending, such as in cars and trucks. This is expected to increase the demand for the products during the forecast period.

Restraining Factor

"Fluctuating Prices of Raw Materials to Slow Down Market Growth "

The main limitation that the market faces is related to the cost involved. Raw materials form an important part of bearing production. The prices of raw materials fluctuate according to constantly changing market conditions. Since the bearings are mainly made of alloy and high quality steel, their price is affected by global steel price fluctuations.

automotive performance engine bearings market Regional Insights

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"Asia Pacific To Lead Market Due To Increasing Demand For Automobiles "

The largest automotive performance engine bearings market share of the total market was in the Asia-Pacific region of the automotive wheel bearing market. Asia Pacific offers a large population, low labor costs and cost advantages. The Asia-Pacific region is home to many automotive OEMs, suppliers and manufacturers. The establishment of production facilities by car manufacturers in this area increased the demand for cars. In addition, governments in countries such as China and India have implemented several laws to support the expansion of the automobile industry. The automotive bearings industry in Asia Pacific is driven by the increasing demand for automobiles due to disposable income, population growth and rapid urbanization across the region. Growing demand for passenger cars in countries such as India, China and other countries is likely to increase the demand for automotive bearings during the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.

List of Market Players Profiled

• Miba AG (Austria)
• The Timken Co. (U.S.)
• Dura-Bond Bearing Co. (U.S.)
• AB SKF (Sweden)
• King Engine Bearings Inc. (U.S.)
• Daido Metal Co. Ltd. (Japan)
• Boca Bearings Inc. (U.S.)
• MAHLE GmbH (Germany)
• Fersa Bearings SA (Spain)

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.