RV reducers are vital components in industrial robots and precision equipment, where the fatigue life of the crank arm and support bearings critically influences the overall system longevity. This study presents a comprehensive performance evaluation, with a specific focus on contact mechanics and wear analysis of these critical bearings. A theoretical mathematical model for force analysis is established based on static mechanics, which is further extended to incorporate wear depth prediction based on contact pressure and sliding velocity. To validate this model and investigate bearing behavior in detail, a high-fidelity parametric simulation model is developed using MASTA software. The simulation results, encompassing contact stress, shear stress, and wear patterns, demonstrate good correlation with the predictions from the theoretical mathematical model, effectively verifying its accuracy for performance and life assessment. The systematic analysis confirms that both the investigated tapered roller and needle roller bearings meet the design requirements. This integrated approach of theoretical modeling, which includes wear analysis, and software simulation provides a reliable methodology for assessing bearing performance and fatigue life, offering significant value for the design optimization and reliability enhancement of RV reducers.