NEV Boom Drives Bearing Market to RMB 110 Billion, Domestic

Publication Time：2025-12-17 16:09 [ From：Andge Bearing ] Author：Bearing Website

China's new energy vehicle (NEV) industry, which has led global production and sales for years, is fueling explosive growth in the upstream bearing market. Data shows that in 2024, China's NEV output reached 9.658 million units, a year-on-year increase of 35.6%, and sales hit 9.495 million units, up 34.8% year-on-year. This massive production scale has pushed the NEV bearing market to the brink of the RMB 100 billion mark, with a projected 2025 scale exceeding RMB 110 billion.

Bearings are critical components in drive motors, gearboxes, wheel hubs, and chassis systems, directly affecting vehicle efficiency, reliability, and service life. A typical NEV is equipped with 15 to 20 sets of specialized bearings, including high-speed deep groove ball bearings for drive systems, tapered roller bearings, and third-generation wheel hub bearing units. Based on calculations from major suppliers such as SKF, Schaeffler, NSK, and domestic enterprises like Luoyang LYC and Zhejiang Wuzhou Xinchun, the average bearing value per vehicle ranges from RMB 800 to 1,200. Using the median RMB 1,000, the 2024 market size theoretically reached RMB 94.95 billion, with the actual scale likely approaching RMB 100 billion due to high-end imported bearings and multi-motor configurations in premium models.

The NEV revolution is reshaping bearing technology requirements. Drive motor speeds now commonly exceed 16,000 rpm, with high-performance models reaching over 20,000 rpm—far higher than traditional fuel vehicle engines. This demands superior materials, lubrication designs, and sealing performance.(>180°C), low NVH (noise, vibration, harshness), and anti-electrical erosion capabilities have become standard requirements. In response, international giants have launched specialized products: Schaeffler's Xtra series hybrid ceramic ball bearings are mass-produced in BYD Han EV and NIO ET7; SKF's High-Performance System (HPS) bearings are widely used in Tesla Model 3/Y rear axle drive units; and Schaeffler's 2024-launched insulated coated deep groove ball bearings, which prevent micro-arc damage from motor shaft currents, are installed in XPeng G9 and Li Auto L series models.

The competitive landscape is evolving from international dominance to domestic breakthroughs. In 2024, Swedish SKF, German Schaeffler, and Japanese NTN/NSK controlled approximately 65% of China's high-end NEV bearing market, particularly in drive system spindle bearings. However, domestic enterprises are accelerating replacement: Wuzhou Xinchun has achieved mass supply of spindle bearings to BYD and Geely, with 2024 NEV bearing revenue growing 62.3% year-on-year to RMB 870 million, accounting for 21.4% of total revenue; Luoyang LYC independently developed fully sealed deep groove ball bearings for 18,000 rpm high-speed motors, entering GAC AION's supply chain in 2024 with over 200,000 annual sets; Renben Group's second-generation NEV-specific bearings passed verification by CATL's electric platform, with a planned 5 million sets annual capacity in 2025.

Capacity expansion is in full swing to meet demand. In 2024, major Chinese bearing enterprises added over 15 NEV-specific production lines with total investment exceeding RMB 2.2 billion. Wuzhou Xinchun's RMB 780 million intelligent factory for precision NEV bearings went into operation in Q3 2024, with a designed annual capacity of 20 million sets covering front-drive motor and gearbox bearings. Renben Group's Wuhu base focuses on wheel hub bearing units, with 15 million sets annual capacity and current supply to Geely Zeekr and Changan Shenlan.

Looking to 2025, with NEV penetration expected to reach around 45% and 800V high-voltage platforms and silicon carbide drive systems gaining traction, the market will continue to expand. The high-speed precision bearings for drive motors, which accounted for 42% of the market in 2024, are projected to rise to 46% in 2025, becoming the fastest-growing segment. Intelligent and integrated bearing solutions are emerging, with sensor-equipped smart bearings monitoring temperature, vibration, and wear set to debut in premium models. Hydrogen fuel cell vehicles will open new scenarios, including air compressor and hydrogen circulation pump bearings. Industry analysts believe the next three years will be a critical window for large-scale domestic replacement, with mid-to-high-end model localization rates expected to rise from less than 40% to over 60%.

【Andge Bearing】WuXi Andge Bearing Co.,Ltd. delivers reliable bearing solutions for industrial, automotive and mechanical applications.

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NEV Boom Drives Bearing Market to RMB 110 Billion, Domestic

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