Automotive Bearing market Size, Share Analysis by 2027
This market was valued at approximately USD 18.03 Billion in 2019 and revenue of around USD 313.18 Billion Read more: https://bit.ly/2VoEmZh
This market was valued at approximately USD 18.03 Billion in 2019 and revenue of around USD 313.18 Billion
Read more: https://bit.ly/2VoEmZh
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Automotive Bearing
Market Analysis 2020
ReportCrux Market Research
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Date: July 2020
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ReportCrux Market Research
Automotive Bearing Market-
Global Industry Analysis, Size,
Share, Forecast 2016 – 2027
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Report Description
ReportCrux Market Research has published a new report titled “Automotive Bearing Market” by Bearing Type (Roller Bearing, Ball
Bearing, Plain Bearing, Tapered Roller Bearing, Specialized Bearing, and Others); by Vehicle Type (Two-Wheelers, Light Commercial
Vehicles, Heavy Commercial Vehicles, and Passenger Vehicles); by Sales Channel (OEM, and Aftermarket); and by Region: Global
Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.
Automotive Bearing Market Size
Automotive Bearing Market Automotive Bearing Market Automotive Bearing Market
Automotive Bearing market was valued at approximately USD 75.45 Billion in 2019 and is expected to generate revenue of around
USD 123.46 Billion by end of 2027, growing at a CAGR of around 6.4% between 2020 and 2027
Bearing is a machine element that restricts relative movement and reduces friction between moving parts. In almost all equipment or
machinery, bearings are used, ranging from farm equipments, vehicle components, and household appliances to defense and
aerospace equipments. Demand for bearings with higher performance, lower maintenance, and longer service life is growing. In
addition to the increasing automotive industry worldwide, it has been observed that the rising average age of vehicles is expected to
increase demand for maintenance, repair and replacement of automotive components, which in effect promotes sales of automotive
components like automotive bearing. Technology advances are being made in the automotive engine bearing market, so that the
engine bearings work properly and have longer life. The proper functioning of the engine bearing is accomplished when the building
material possesses the properties including high strength and softness.
Overall innovation in the automotive sector is the prime factor leading to business growth. The changing standard of living and
increasing disposable incomes in the developing countries have made it possible for customers to use vehicles which have complete
aftermarket products fitted for the successful use of the automobiles. In addition, the production of automobiles has increased, which
in turn has fuelled the growth of the demand for automotive engine bearing in the coming years. Developments are being made in the
technology and researchers are focusing on developing strong materials that can withstand more load is further fueling the growth
and demand for automotive engine bearings. Besides, the replacement rate for automotive engine bearing is high, and thus the
automotive aftermarket holds a considerable share in the market. Moreover, with one third of the world's population being in India
and China the demand for vehicles will in turn raise the order for bearing from these countries.
Rising vehicle electrification and ambitious proposals by various governments to go fully electric, and ban traditional fuel based
vehicles worldwide in the coming years, greatly can limit the growth of the automotive bearing industry. Compared to traditional fuel
powered vehicles, electric vehicles require fewer bearings. In addition, market growth is expected to be slowed by the introduction of
wheel hub or in-wheel technology, used in electric vehicles. The vehicles that come with such technology need no differential gears
which can further restrict market growth.
Segmentation Analysis
The global market for the automotive bearing is segmented into vehicle type, bearing type, sales channel, and region.
By Bearing Type
Based on bearing type, the market is segmented into roller bearing, ball Bearing, plain bearing, tapered roller bearing, specialized
bearing, and others. The ball bearing segment held almost 31% share of the market in 2019 in terms of revenue and volume. The
latest changes to the reduction of friction and heat generation through these bearings, combined with high demand for commercial
and off-road vehicles, are likely to support the ball bearing segment globally.
By Vehicle Type
Based on vehicle type, the market is categorized into two-wheelers, light commercial vehicles, heavy commercial vehicles, and
passenger vehicles. The passenger vehicles segment held almost 29% share of the market in 2019. The market in this segment is
growing due to rising demand for passenger vehicles, from the developing nations and increasing demand for technologically
advanced solutions.
By Sales Channel
Based on the sales channel, the global market for automotive bearing is segmented into OEM, and aftermarket. The OEM segment
accounted for almost 61% share of the market in 2019 due to the demand fluctuations in the OEM segment of the automotive
industry. During the forecast era, the automotive Bearing market in OEM is expected to experience the fastest growth in volume
terms. In addition, bearing manufacturers are increasingly integrating their products, platforms and related services such as
lubrication, mechatronics, good technical skills and product development capabilities to deliver best solutions to their customers.
Regional Analysis
By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific held
almost 36% share of the overall market due to the existence of significant number of automakers in this region. Consumers inhabit
their vehicles with reliable and durable parts to ensure their vehicles work well and prevent engine breakdown. Nations like Brazil,
Russia, India, China, and South Africa are also global car markets which in turn would make a major contribution in the automotive
bearing market. It is projected that there will be a stable growth for automotive bearing in mature markets of Europe and North
America.
Key Players Analysis
Major players in automotive bearing market are NTN Corp. (Japan), Rheinmetall Automotive (Germany), Timken Co. (U.S.), JTEKT Corp. (Japan),
Shaeffler AG (Germany), SKF (Sweden), Minebea Co., Ltd. (Japan), Federal-Mogul Holdings LLC (U.S.), SNL Bearings Ltd. (India), and Nachi Fujikoski
(Japan) among others.
About Us
Report Crux is a global market intelligence aggregator and publisher of market research reports, business information reports,
economic and equity reports. We cater a diverse range of industrial sectors along with niche domains and sub-domains within the
industry. We offer exclusive blend of cutting-edge market insights for the critical business needs industry. We offer exclusive blend of
cutting-edge market insights for the critical business needs.
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website: https://www.Automotive Bearing .com/