Engine Bearings Market Size Worth $4.18 Billion By 2032 | CAGR: 3.5%

The global engine bearings market size is expected to reach USD 4.18 billion by 2032, according to a new study by Polaris Market Research. The report “Engine Bearings Market Share, Size, Trends, Industry Analysis Report, By Type (Main Bearing, Connected Rod Bearing, and Others); By Vehicle Type; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapid increases in the production of automobiles, including commercial vehicles and passenger cars, all over the world and the rising focus of various government authorities and agencies towards supporting automobile sales while promoting lightweight vehicles that include a greater number of bearings are among the prominent factors influencing the global market growth. For instance, according to a report published by Trading Economics, car production in India has increased to 156250 units in October 2023 from 151215 units in September 2023.

In addition, the rising proliferation of technological advancements in product manufacturing technologies that lead to the creation of more efficient and durable engine bearings with enhanced capabilities coupled with the focus of product manufacturers towards meeting stringent fuel efficiency as well as emission standards are also likely to have a positive impact on the market growth in the near future.

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There has been a drastic increase in the adoption of advanced and innovative technologies like condition monitoring technologies, including vibration analysis, in order to efficiently determine the health of bearings without interfering with their operations, which results in better work efficiency and longer lifespan of bearings. Besides this, the advent of the industrial Internet of Things into the engine bearings, along with the constantly declining costs of sensors, has also been accelerating the demand and use of such technologies with features like real-time data, automated analysis, and instantaneous alerts.

With the continuous growth in emphasis on emission reduction as well as fuel efficiency, various leading product manufacturers across the globe are increasingly focusing on the development of new and more innovative bearing solutions that contribute to fuel efficiency, minimize frictional losses, and improve overall engine performance, which in turn, likely to bode well for market growth over the years.

Engine Bearings Market Report Highlights

• The main bearing segment accounted for a noteworthy market share, mainly due to its numerous advantageous characteristics, including frictional resistant and anti-corrosiveness
• The passenger cars segment is expected to hold a substantial share, which is largely attributable to a rapid increase in the production and sales of passenger vehicles globally
• The OEM segment will grow at the highest growth rate on account of the emergence of several favorable automotive production trends and investments in R&D activities
• Asia Pacific dominated the global market with a considerable share, owing to the region’s increasing automobile sales and the presence of favorable government regulations
• The key market players include Hartford Technologies, Menon Bearings, Rexnord Corporation, The Timken Company, Harbin Bearing Manufacturing, and RBC Bearings

Polaris Market Research has segmented the engine bearings market report based on type, vehicle type, distribution channel, and region:

Engine Bearings, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Main Bearing
• Connected Rod Bearing
• Others

Engine Bearings, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Engine Bearings, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• OEM
• Aftermarket

Engine Bearings, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Engine Bearings Market Report Scope