[Hyderabad, April 19th, 2025] – The global automotive bearing market, valued at USD 24.5 billion in 2023, is projected to grow at a rate of 6.2%, reaching USD 39.8 billion by 2031. This growth is driven by electrification and Industry 4.0 integration, according to ClearView Market Insights.
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2024 Industry Milestones:
1. EV Bearing Breakthroughs
o NSK’s 1,200V insulated bearings enable next-gen hyper-EVs.
o Ceramic bearings boost EV range by 5%, adopted by Tesla and BYD.
2. Predictive Maintenance
o SKF’s Smart Bearings alert drivers 3,000 miles before failure.
o AI Analytics reduce fleet maintenance costs by 30%.
3. Material Science
o Graphene Coatings extend bearing life by 40% in extreme heat.
o Self-Lubricating Designs eliminate 90% of maintenance.
Regional Leaders:
• Asia-Pacific (XX%): China’s USD 12 Bn bearing production dominates.
• Europe (XX%): Premium/long-life bearing hub (Schaeffler, SKF).
• North America (XX%): USD 5 Bn aftermarket demand.
Executive Insights:
“Bearings are no longer just metal rings-they’re the connected nervous system of modern vehicles.”
– Rickard Gustafson, CEO, SKF
Roadmap to 2031:
• 2025: 50% of new EVs will use insulated bearings.
• 2027: Smart bearings standard in 40% of fleet vehicles.
• 2030: Ceramic bearings capture 25% market share.
For more insights, visit https://clearviewmarketinsights.com/report-store
Media contact:
Bhavani K
Marketing and Sales Head
ClearView Market Insights
Mail: sales@clearviewmarketinsights.com
Phone: +1 917-993-7369
About ClearView Market Insights:
ClearView Market Insights analyzes over 200 automotive tech markets, ranging from components to AI systems.
This release was published on openPR.
