The Latin America, Middle East and Africa Automotive Bearings Market would witness market growth of 8.3% CAGR during the forecast period (2023-2030).
Friction causes wear and strain on bearing elements. This is compelling original equipment manufacturers to produce bearing devices that can withstand varying friction levels. Consequently, their participation in research and development activities is growing. The launch of ultra-low-friction sealed ball bearings has been recognized as one of the key trends that will fuel the development of the market over the forecast period.
Bearings for automobiles are produced via cutting-edge technologies and advanced materials. Due to its low price and sturdiness, high-carbon chromium steel is used to manufacture bearings. In addition to ceramics, stainless steel and plastic are used to manufacture bearings. Principal varieties of automotive rolling element bearings are tapered roller, needle roller, spherical roller, and cylindrical/straight roller. These bearings are extensively used in vehicle systems, particularly in the engine, transmission, and wheels (needle rollers for wheel bearings are excluded).
The growth of the market is driven by factors such as an increase in vehicle production, efforts to reduce the overall weight of the vehicle, an increase in demand for luxury features in vehicles, a rise in disposable income, and a surge in sales of luxury vehicles in developing nations. Moreover, the increase in safety & comfort features in vehicles, the emergence of sensor bearing units, and the growth of technologies for additive manufacturing to manufacture bearings are expected to provide lucrative opportunities for market participants.
The Middle East and North Africa (MENA) region is developing at an estimated 36% rate, according to the International Trade Association, with Saudi Arabia serving as the region’s top market. In the Gulf Cooperation Council (GCC) and the MENA region, Saudi Arabia sold over 52% and 35% of the cars in 2020. There were 556,000 and 436,000 total automobiles sold in Saudi Arabia in 2019 and 2020, respectively. With the burgeoning demand for automobiles, the market is estimated to grow significantly.
The Brazil market dominated the LAMEA Automotive Bearings Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $879.2 million by 2030. The Argentina market is anticipated to grow at a CAGR of 8.9% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 8% during (2023 - 2030).
Based on Bearing Type, the market is segmented into Ball Bearing, Roller Bearing, and Others. Based on Distribution Channel, the market is segmented into OEM, and Aftermarket. Based on Vehicle Type, the market is segmented into Passenger car, Commercial Vehicle, and Two-wheeler. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Automotive Bearings Market is Projected to reach USD 52.7 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include JTEKT Corporation, AB SKF, Schaeffler AG, NSK Ltd., NTN Corporation, The Timken Company, Nippon Thompson Co., Ltd., RBC Bearings, Inc., Iljin Group, and Cixing Group Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Bearing Type
- Ball Bearing
- Roller Bearing
- Others
By Distribution Channel
By Vehicle Type
- Passenger car
- Commercial Vehicle
- Two-wheeler
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- JTEKT Corporation
- AB SKF
- Schaeffler AG
- NSK Ltd.
- NTN Corporation
- The Timken Company
- Nippon Thompson Co., Ltd.
- RBC Bearings, Inc.
- Iljin Group
- Cixing Group Co., Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Automotive Bearings Market, by Bearing Type
1.4.2 LAMEA Automotive Bearings Market, by Distribution Channel
1.4.3 LAMEA Automotive Bearings Market, by Vehicle Type
1.4.4 LAMEA Automotive Bearings Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.2.4 Geographical Expansions
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.4 Porter’s Five Force Analysis
Chapter 5. LAMEA Automotive Bearings Market by Bearing Type
5.1 LAMEA Ball Bearing Market by Country
5.2 LAMEA Roller Bearing Market by Country
5.3 LAMEA Others Market by Country
Chapter 6. LAMEA Automotive Bearings Market by Distribution Channel
6.1 LAMEA OEM Market by Country
6.2 LAMEA Aftermarket Market by Country
Chapter 7. LAMEA Automotive Bearings Market by Vehicle Type
7.1 LAMEA Passenger car Market by Country
7.2 LAMEA Commercial Vehicle Market by Country
7.3 LAMEA Two-wheeler Market by Country
Chapter 8. LAMEA Automotive Bearings Market by Country
8.1 Brazil Automotive Bearings Market
8.1.1 Brazil Automotive Bearings Market by Bearing Type
8.1.2 Brazil Automotive Bearings Market by Distribution Channel
8.1.3 Brazil Automotive Bearings Market by Vehicle Type
8.2 Argentina Automotive Bearings Market
8.2.1 Argentina Automotive Bearings Market by Bearing Type
8.2.2 Argentina Automotive Bearings Market by Distribution Channel
8.2.3 Argentina Automotive Bearings Market by Vehicle Type
8.3 UAE Automotive Bearings Market
8.3.1 UAE Automotive Bearings Market by Bearing Type
8.3.2 UAE Automotive Bearings Market by Distribution Channel
8.3.3 UAE Automotive Bearings Market by Vehicle Type
8.4 Saudi Arabia Automotive Bearings Market
8.4.1 Saudi Arabia Automotive Bearings Market by Bearing Type
8.4.2 Saudi Arabia Automotive Bearings Market by Distribution Channel
8.4.3 Saudi Arabia Automotive Bearings Market by Vehicle Type
8.5 South Africa Automotive Bearings Market
8.5.1 South Africa Automotive Bearings Market by Bearing Type
8.5.2 South Africa Automotive Bearings Market by Distribution Channel
8.5.3 South Africa Automotive Bearings Market by Vehicle Type
8.6 Nigeria Automotive Bearings Market
8.6.1 Nigeria Automotive Bearings Market by Bearing Type
8.6.2 Nigeria Automotive Bearings Market by Distribution Channel
8.6.3 Nigeria Automotive Bearings Market by Vehicle Type
8.7 Rest of LAMEA Automotive Bearings Market
8.7.1 Rest of LAMEA Automotive Bearings Market by Bearing Type
8.7.2 Rest of LAMEA Automotive Bearings Market by Distribution Channel
8.7.3 Rest of LAMEA Automotive Bearings Market by Vehicle Type
Chapter 9. Company Profiles
9.1 JTEKT Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 AB SKF
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expenses
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Product Launches and Product Expansions:
9.2.5.3 Acquisition and Mergers:
9.2.6 SWOT Analysis
9.3 Schaeffler AG
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent strategies and developments:
9.3.5.1 Acquisition and Mergers:
9.3.5.2 Geographical Expansions:
9.3.6 SWOT Analysis
9.4 NSK Ltd.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Product Launches and Product Expansions:
9.4.5.2 Acquisition and Mergers:
9.4.6 SWOT Analysis
9.5 NTN Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments:
9.5.5.1 Product Launches and Product Expansions:
9.5.6 SWOT Analysis
9.6 The Timken Company
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expenses
9.6.5 Recent strategies and developments:
9.6.5.1 Acquisition and Mergers:
9.6.6 SWOT Analysis
9.7 Nippon Thompson Co., Ltd.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental Analysis
9.7.4 Research & Development Expenses
9.7.5 SWOT Analysis
9.8 RBC Bearings, Inc.
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental Analysis
9.8.4 Recent strategies and developments:
9.8.4.1 Acquisition and Mergers:
9.8.5 SWOT Analysis
9.9 Iljin Group
9.9.1 Company Overview
9.10. Cixing Group Co., Ltd.
9.10.1 Company Overview
TABLE 1 LAMEA Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 2 LAMEA Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Automotive Bearings Market
TABLE 4 Product Launches And Product Expansions– Automotive Bearings Market
TABLE 5 Acquisition and Mergers – Automotive Bearings Market
TABLE 6 Geographical Expansions – Automotive Bearings Market
TABLE 7 LAMEA Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 8 LAMEA Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 9 LAMEA Ball Bearing Market by Country, 2019 - 2022, USD Million
TABLE 10 LAMEA Ball Bearing Market by Country, 2023 - 2030, USD Million
TABLE 11 LAMEA Roller Bearing Market by Country, 2019 - 2022, USD Million
TABLE 12 LAMEA Roller Bearing Market by Country, 2023 - 2030, USD Million
TABLE 13 LAMEA Others Market by Country, 2019 - 2022, USD Million
TABLE 14 LAMEA Others Market by Country, 2023 - 2030, USD Million
TABLE 15 LAMEA Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 16 LAMEA Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 17 LAMEA OEM Market by Country, 2019 - 2022, USD Million
TABLE 18 LAMEA OEM Market by Country, 2023 - 2030, USD Million
TABLE 19 LAMEA Aftermarket Market by Country, 2019 - 2022, USD Million
TABLE 20 LAMEA Aftermarket Market by Country, 2023 - 2030, USD Million
TABLE 21 LAMEA Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 22 LAMEA Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 23 LAMEA Passenger car Market by Country, 2019 - 2022, USD Million
TABLE 24 LAMEA Passenger car Market by Country, 2023 - 2030, USD Million
TABLE 25 LAMEA Commercial Vehicle Market by Country, 2019 - 2022, USD Million
TABLE 26 LAMEA Commercial Vehicle Market by Country, 2023 - 2030, USD Million
TABLE 27 LAMEA Two-wheeler Market by Country, 2019 - 2022, USD Million
TABLE 28 LAMEA Two-wheeler Market by Country, 2023 - 2030, USD Million
TABLE 29 LAMEA Automotive Bearings Market by Country, 2019 - 2022, USD Million
TABLE 30 LAMEA Automotive Bearings Market by Country, 2023 - 2030, USD Million
TABLE 31 Brazil Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 32 Brazil Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 33 Brazil Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 34 Brazil Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 35 Brazil Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 36 Brazil Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 37 Brazil Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 38 Brazil Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 39 Argentina Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 40 Argentina Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 41 Argentina Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 42 Argentina Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 43 Argentina Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 44 Argentina Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 45 Argentina Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 46 Argentina Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 47 UAE Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 48 UAE Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 49 UAE Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 50 UAE Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 51 UAE Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 52 UAE Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 53 UAE Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 54 UAE Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 55 Saudi Arabia Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 56 Saudi Arabia Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 57 Saudi Arabia Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 58 Saudi Arabia Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 59 Saudi Arabia Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 60 Saudi Arabia Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 61 Saudi Arabia Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 62 Saudi Arabia Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 63 South Africa Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 64 South Africa Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 65 South Africa Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 66 South Africa Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 67 South Africa Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 68 South Africa Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 69 South Africa Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 70 South Africa Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 71 Nigeria Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 72 Nigeria Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 73 Nigeria Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 74 Nigeria Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 75 Nigeria Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 76 Nigeria Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 77 Nigeria Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 78 Nigeria Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 79 Rest of LAMEA Automotive Bearings Market, 2019 - 2022, USD Million
TABLE 80 Rest of LAMEA Automotive Bearings Market, 2023 - 2030, USD Million
TABLE 81 Rest of LAMEA Automotive Bearings Market by Bearing Type, 2019 - 2022, USD Million
TABLE 82 Rest of LAMEA Automotive Bearings Market by Bearing Type, 2023 - 2030, USD Million
TABLE 83 Rest of LAMEA Automotive Bearings Market by Distribution Channel, 2019 - 2022, USD Million
TABLE 84 Rest of LAMEA Automotive Bearings Market by Distribution Channel, 2023 - 2030, USD Million
TABLE 85 Rest of LAMEA Automotive Bearings Market by Vehicle Type, 2019 - 2022, USD Million
TABLE 86 Rest of LAMEA Automotive Bearings Market by Vehicle Type, 2023 - 2030, USD Million
TABLE 87 Key information – JTEKT Corporation
TABLE 88 Key Information –AB SKF
TABLE 89 Key Information – Schaeffler AG
TABLE 90 Key Information – Nsk ltd.
TABLE 91 Key Information – NTN COrporation
TABLE 92 Key Information – the timken company
TABLE 93 Key Information – Nippon Thompson Co., Ltd.
TABLE 94 Key Information – RBC BEARINGS, inc.
TABLE 95 Key Information – Iljin Group
TABLE 96 Key Information – Cixing Group Co., Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Automotive Bearings Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Automotive Bearings Market
FIG 4 KBV Cardinal Matrix
FIG 5 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 6 Porter’s Five Force Analysis: Automotive Bearings Market
FIG 7 LAMEA Automotive Bearings Market share by Bearing Type, 2022
FIG 8 LAMEA Automotive Bearings Market share by Bearing Type, 2030
FIG 9 LAMEA Automotive Bearings Market by Bearing Type, 2019 - 2030, USD Million
FIG 10 LAMEA Automotive Bearings Market share by Distribution Channel, 2022
FIG 11 LAMEA Automotive Bearings Market share by Distribution Channel, 2030
FIG 12 LAMEA Automotive Bearings Market by Distribution Channel, 2019 - 2030, USD Million
FIG 13 LAMEA Automotive Bearings Market share by Vehicle Type, 2022
FIG 14 LAMEA Automotive Bearings Market share by Vehicle Type, 2030
FIG 15 LAMEA Automotive Bearings Market by Vehicle Type, 2019 - 2030, USD Million
FIG 16 LAMEA Automotive Bearings Market share by Country, 2022
FIG 17 LAMEA Automotive Bearings Market share by Country, 2030
FIG 18 LAMEA Automotive Bearings Market by Country, 2019 - 2030, USD Million
FIG 19 Swot Analysis: JTEKT Corporation
FIG 20 Recent strategies and developments: AB SKF
FIG 21 SWOT Analysis: AB SKF
FIG 22 Recent strategies and developments: Schaeffler AG
FIG 23 SWOT Analysis: Schaeffler AG
FIG 24 Recent strategies and developments: NSK Ltd.
FIG 25 SWOT Analysis: NSK Ltd
FIG 26 SWOT Analysis: NTN Corporation
FIG 27 SWOT Analysis: The Timken Company
FIG 28 SWOT Analysis: Nippon Thompson Co., Ltd
FIG 29 SWOT Analysis: RBC Bearings, Inc