The global automotive connecting rod bearing market size is expected to reach USD 189.2 Million in 2022 and exhibit steady growth at a CAGR of 12.8% during the forecast period from 2022 to 2032. High drivability and engine stability properties are likely to boost the demand for automotive connecting rod bearing in future.
As per FMI, the automotive connecting rod bearing market is anticipated to be valued at USD 493.7 Million in 2032. Increasing demand for vehicles powered by internal combustion engines is set to bode well for the global market.
| Report Attribute | Details |
|---|---|
| Automotive Connecting Rod Bearing Market Estimated Base Year Value (2021) | USD 156.3 Million |
| Automotive Connecting Rod Bearing Market Expected Market Value (2022) | USD 189.2 Million |
| Automotive Connecting Rod Bearing Market Anticipated Forecast Value (2032) | USD 493.7 Million |
| Automotive Connecting Rod Bearing Market Projected Growth Rate (2022 to 2032) | 12.8% CAGR |
Automotive connecting rod bearing, which is also known as rod-end bearing, is considered to be a significant part of the engine assembly. It delivers a rotary motion owing to its two-piece band structure.
The motion is produced when two parts, namely, the bearings and connecting rods are connected. Depending upon the type of engine, it can handle maximum pressure and load capacity.
Sales of automotive connecting rod bearing are expected to surge at a fast pace stoked by the rising demand for both commercial and passenger vehicles. Increasing usage of lightweight components to manufacture automotive connecting rod bearings is also set to augment the global market.
Rising adoption of titanium connecting rods backed by their lightweight nature is another factor that is projected to foster the market. In addition to that, ongoing development of carbon fiber connecting rods in vehicles across the globe is likely to open new opportunities for renowned manufacturers.
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Surging usage of advanced materials to increase the lifespan of automotive connecting rod bearings is anticipated to propel the market. Increasing demand for performance-oriented components with high reliability and durability is another major factor that is expected to bode well for the global automotive connecting rod bearing market growth in the assessment period.
High demand for passenger cars and commercial vehicles is also expected to push the market. Aftermarket sales of automotive connecting rod bearings are likely to surge at a rapid pace as regular oil and oil filter changes lower the wear of bearings.
According to the International Organization of Motor Vehicle Manufacturers, in 2021, approximately 82,684,788 vehicles were sold across the globe. The number is anticipated to increase in future, thereby propelling the global market.
Increasing production of battery electric vehicles across the globe may hamper the demand for automotive connecting rod bearing. High research & development expenditure and ongoing technological advancements are expected to decline the prices of batteries.
Governments of various countries are also investing huge sums in the development of charging station infrastructure worldwide. Besides, need to reduce carbon emission from conventional vehicles is likely to push sales of electric vehicles and obstruct the market.
As per FMI, North America is expected to remain at the forefront by generating the largest automotive connecting rod bearing market share in future years. Increasing investment by regulatory bodies to accelerate technological innovations in the automotive industry across the USA and Canada is projected to aid growth.
Moreover, the presence of various prominent companies across North America is anticipated to push the development of cutting-edge automotive connecting rod bearing in the evaluation period. High demand for vehicle customization is also set to drive sales of custom auto components, including automotive connecting rod bearing in North America.
Growing sales of vehicles in emerging economies, such as India and China backed by high disposable income and rising living standards are likely to augment the Asia Pacific automotive connecting rod bearing market size. As per the India Brand Equity Foundation (IBEF), between April-October 2021, nearly 13 million vehicles were produced in India, whereas about 22.65 million vehicles were produced in FY21.
India is considered to be a noteworthy automotive exporter and has a robust growth expectation for the upcoming years. In February 2022, for instance, Mahindra & Mahindra, Ford, Kia, Tata Motors, Hyundai, and Suzuki were chosen under the Production Linked Incentives Scheme. Around 20 companies under this scheme will receive incentives from the government to surge local vehicle manufacturing. Similar government initiatives in Asia Pacific are expected to augment the market.
Some of the leading companies present in the global automotive connecting rod bearing market include Schaeffler, NSK Ltd., CW Bearing, NTN Bearing Corporation, KCI Bearings (India) Pvt. Ltd., Aisin Seiki, FBJ Corporation, SKF, BNL Bearings, Howon Autopart Co. Ltd, Timken Company, ORS Bearings, MinebeaMitsumi Inc., and IMB Bearings among others.
The majority of the leading players in the market are increasingly focusing on mergers and acquisitions with local companies to co-develop innovative products and expand their existing portfolios. Some of the other key players are aiming to engage in collaborations, joint ventures, new manufacturing facility development, and research & development activities to gain a competitive edge in the global market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 12.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Sales Channel, Material Type, Vehicle Type, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Schaeffler; NSK Ltd.; CW Bearing; NTN Bearing Corporation; KCI Bearings (India) Pvt. Ltd.; Aisin Seiki; FBJ Corporation; SKF; BNL Bearings; Howon Autopart Co. Ltd.; Timken Company; ORS Bearings; MinebeaMitsumi Inc.; IMB Bearings |
| Customization | Available Upon Request |
The global automotive connecting rod bearing market is set to surpass USD 493.7 Million in 2032.
North America is set to lead the automotive connecting rod bearing market in the forecast period.
Schaeffler, NSK Ltd., CW Bearing, NTN Bearing Corporation, KCI Bearings (India) Pvt. Ltd., Aisin Seiki, FBJ Corporation, SKF, and BNL Bearings are some of the renowned companies in the automotive connecting rod bearing market.
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Automotive Connecting Rod Bearing Market
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