Automotive Connecting Rod Bearing Market Size, Analysis 2031

Report Description

Automotive Connecting Rod Bearing Market Outlook 2031

The global automotive connecting rod bearing market size was valued at USD 189 Million in 2022 and is likely to reach USD 545 Million by 2031, expanding at a CAGR of 12.5 % during 2023 – 2031. The market's growth is attributed to increasing demand for heavy commercial vehicles and rising carbon emission norms.

Growing carbon emission norms in automobiles are expected to boost the demand for automotive connecting rod bearings. These connecting rod bearings in automobiles ensure the rotational movement of the crankshaft without generating excessive friction and heat, leading to CO2 emission reductions. Thus, stringent carbon emission guidelines are propelling the market.

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The adoption of automotive connecting rod bearings in passenger and commercial vehicles is rapidly increasing as it provides a low-friction pivot point between the piston and connecting rod and the crankshaft and connecting rod. It transmits the compressive and tensile forces from the piston to allow efficient and smooth movement of the connecting rod and crankshaft. Connecting rod bearings are used for engine stability in vehicles, which increases their demand.

The COVID-19 pandemic hampered the demand for the automotive connecting rod bearings. The manufacturing facilities of connecting rod bearings struggled during the pandemic due to the disruption in the supply chain and the closure of international trade. A drastic fall was registered in the production of automobiles in 2020, which impeded the demand for automotive connecting rod bearings as these bearings are installed in automobiles to connect the crankshaft to the piston, helping the engine to start and run. For instance,

• As per a report published by the International Organization of Motor Vehicle Manufacturers, a 16% decline was seen in the production of automobiles in 2020.

Impact of Artificial Intelligence (AI) on Automotive Connecting Rod Bearing

The introduction of artificial intelligence and the rapid advancements in the automotive industry create a lucrative opportunity in the market. AI plays a vital role in the design and development of connecting rod-bearing as it creates efficient designs and optimizes production processes. AI-powered sensors help manufacturers increase the production and quality of connecting rod bearings by efficiently detecting the tiniest of defects that are beyond the capacity of human vision. AI in the manufacturing of connecting rod bearings also accelerates routine processes, eliminating the need for time-consuming and error-prone human inspections.

Automotive Connecting Rod Bearing Market Dynamics

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Major Drivers

Increasing production of automobiles is projected to boost the demand for automotive connecting rod bearings. Connecting rod bearings are installed in automobiles to enhance the power output and longevity of an internal combustion engine. It also reduces the weight of the engine and improves the fuel economy of the vehicles, which increases its adoption in automobiles. Thus, the rising production of motor vehicles is propelling the market. For instance,

• According to the European Automobile Manufacturers Association, 85.4 million motor vehicles were produced around the world in 2022, an increase of 5.7% compared to 2021.

Growing demand for racing cars is projected to drive the market. A racing car needs heavy power output, which is fulfilled by connecting rod bearings as they are connected to pistons that make power for the engine to run. It provides a low-friction point between the crankshaft and the connecting rod, which enhances the efficiency of racing cars. This increases the adoption of connecting bearing rods in racing cars.

Existing Restraints

Increasing adoption of battery electric vehicles (BEVs) is expected to restrict the market as an oscillating electric/magnetic field drives the rotational motion of the shaft in these electric vehicles. Moreover, the failure in connecting rod bearings causes decreased power output, increased fuel consumption, and enhanced knocking sound when running, which encourages users to lessen their adoption.

Emerging Opportunities

Increasing investment in R&D activities by key players in the market to develop and launch 3rd generation tapered roller-bearing hub units for automobiles creates an immense opportunity in the market. Companies investing in the development of 3rd generation solutions position themselves with a competitive edge. These advanced bearings are likely to offer improved performance, reliability, and longevity compared to previous generations, meeting or exceeding industry standards.

Growing demand for increased efficiency and strength in connecting rods opens up opportunities for manufacturers to innovate in design and materials. This involves carbon fiber, advancements in metallurgy, and engineering techniques. Manufacturers can explore developing specialized connecting rods tailored to the specific needs of high-performance engines, providing a competitive edge in the market. For instance,

• On October 12, 2021, JTEKT Corporation a global manufacturer of automotive parts announced the launch of 3rd generation tapered roller-bearing hub unit, which is equipped in the new Land Cruiser of Toyota Motor Corporation.

Scope of the Automotive Connecting Rod Bearing Market Report

The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Material Type Segment Analysis

In terms of material type, the global market is categorized into aluminum, stainless steel, high-carbon steel, and babbitt. The stainless steel segment held a large share of the market in 2022 due to its ability to offer corrosion and heat resistance. Stainless steel is used to manufacture connecting rod bearings, as it provides high-rpm engines at low cost. It offers durability, and longevity to the connecting rod bearings, which increases its adoption in the manufacturing of bearings.

The babbitt segment is projected to grow at a quick pace during the forecast period owing to its potential to hold an oil film and operate without adequate lubrication. Babbitt is a soft, white metal alloy of tin, copper, and antimony and provides a good balance of strength, durability, and resistance to wear, encouraging manufacturers to adopt babbitt for producing connecting rod bearings. It withstands heavy loads and performs under fluctuating loads and speeds, which increases its demand in connecting rod bearings.

Vehicle Type Segment Analysis
Based on vehicle type, the automotive connecting rod bearing market is segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment registered significant growth in 2022 due to increasing sales and production of passenger cars in emerging nations and the growing need for fuel-efficient vehicles. Connecting rod bearings are an integral component of passenger cars, as they allow smooth conversion of power from the main crank to the connecting rods. It reduces the knocking sound from vehicles and improves the fuel efficiency of cars, which increases its adoption in passenger vehicles.

The commercial vehicle segment is anticipated to grow at a robust pace in the coming years, owing to rising logistics services and the growing e-commerce sector. Connecting rod bearings are installed in commercial vehicles to generate high power and reduce CO2 emissions. It supports, guides, and connects the connecting rods to the crankshaft, which move against each other. It lowers stresses from combustion and piston movement, which enhances its demand in commercial vehicles.

Sales Channel Segment Analysis
On the basis of sales channel, the automotive connecting rod bearing market is bifurcated into original equipment manufacturers (OEM) and aftermarket. The original equipment manufacturers (OEM) segment dominated the market in 2022 due to the rising concern among customers regarding vehicle safety and technological advancements in automobiles. OEM connecting rod bearings are preferred by consumers over aftermarket bearings, as they improve performance, quality, compatibility, and safety. Moreover, OEM connecting rod bearings have a longer lifespan than aftermarket, which enhances their adoption.

Regional Outlook
In terms of region, the automotive connecting rod bearing market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a major share of the market in 2022 due to increasing investments by regulatory bodies to accelerate technological innovations in the automotive industry and the presence of established market players such as NTN BEARING CORPORATION OF AMERICA, THE TIMKEN COMPANY, Dover Corporation, and Wiseco. Moreover, the increasing manufacturing of automobiles in the region is propelling the demand for connecting rod bearings, as it is installed in automobiles to improve engine performance and fuel economy. For instance,

• According to a report, the auto industry in the US produced approximately 10.06 Million motor vehicles in 2022.

The market in Asia Pacific is expected to expand at a high CAGR in the coming years owing to the growing automotive industry and increasing purchasing power of consumers. Moreover, the rising production of motor vehicles in the region is estimated to boost the demand for connecting rod bearings, as these rod bearings are an essential component of internal combustion engines, helping to transfer the power from the piston to the crankshaft, which makes power for the engine to run. For instance,

• As per a report published, China's automotive industry produced approximately 23.8 Million passenger cars in 2022, while India produced 5.5 Million motor vehicles in 2022, an increase from 4.4 Million in 2021.