Automotive Bearing Market Overview:
The Automotive Bearing Market has become a critical component within the
global automotive industry, providing essential support to various moving parts
in vehicles, including wheels, engine components, and transmission systems.
Bearings play a crucial role in minimizing friction and ensuring smooth
rotation of these components, contributing to improved vehicle performance,
fuel efficiency, and overall reliability. As the automotive sector continues to
witness advancements such as electrification, lightweight materials, and
enhanced vehicle dynamics, the demand for technologically advanced and durable
bearings is on the rise. Manufacturers in the Automotive Bearing Market are
responding to these trends by developing innovative bearing solutions that can
withstand higher speeds, increased loads, and extended service intervals,
meeting the evolving needs of the modern automotive landscape.
The Automotive Bearing
Market is also influenced by the expanding global automotive production and
sales. As emerging economies experience increased motorization rates and
established markets witness a surge in replacement and aftermarket demand, the
market for automotive bearings is expected to grow. Moreover, the rising focus
on electric vehicles (EVs) and hybrid vehicles has further stimulated the
demand for specialized bearings capable of handling the unique requirements of
electric drivetrains. With the industry's ongoing emphasis on sustainability
and efficiency, automotive bearings are poised to play a pivotal role in
shaping the future of mobility.
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Key Companies in the Automotive Bearing market include:
- Schaeffler
AG.
- Jtekt
Corporation
- NTN
Corporation
- Iljin
Bearing Co. Ltd.
- Timken
Company
- Svenska
Kullagerfabriken AB
- RKB
Bearings
Global Automotive Bearing Market driven
by the disruption caused by covid 19
The Automotive Bearing Market can be
segmented based on type and vehicle type.
Segmentation by Type has been done into
Ball Bearings, Roller Bearings, Plain Bearings, Thrust Bearings, and Others. The roller bearings
will continue to roll to the top by product type compared to other types of
bearings, comprising ball bearings and plain bearings.
Vehicle type segmentation was conducted
into 2-Wheeler, Passenger, and Commercial. Based on vehicle type, passenger
vehicles (PV) will remain the largest consumer of automotive bearings in near
future, among all vehicle types, such as commercial vehicles (CV) and two
wheelers.
Regional Assessment
The global market geographic overview was
conducted in four major regions including Asia Pacific , North America, Europe
and the rest of the world.
The key regions for the automotive bearing
market are Asia-Pacific. The Asia-Pacific market for automotive bearings is
expected to show substantial growth. Emerging economies like China, India, are
expected to drive the market as a result of rising demand for automobiles, the
automotive bearing industry is expected to drive the increased disposable
income & buying power of individuals.
China, which is currently the second
largest country-specific market in terms of revenue, Strong growth is expected
in the coming years, gaining substantial market value to become the largest
country-specific automotive bearing market. The Asia-Pacific market is also
growing due to factors such as increasing numbers of vehicle manufacturing
facilities due to low cost of production , increased capacity of production and
increased demand for light and heavy vehicles.
Developed regions like North America and
Europe will show static growth for the automobile bearing industry. The North
America field is a developed market for car bearings. Original manufacturers of
equipment in the region focus on efforts to improve production quality to
deliver quality product. Many original machinery manufacturers are building
manufacturing plants in Mexico and Canada, which is increasing demand for car
bearings.
Competitive Analysis
Jtekt Corporation, Schaeffler AG., NTN
Corporation, Iljin Bearing Co. , Ltd., Svenska Kullagerfabriken AB, Timken Company,
Timken Company, ORS Bearings, RKB Bearings, and CW Bearing are the major
players operating in the global market as identified by MRFR.
The market is experiencing increased
competition which is expected to further intensify during the forecast period.
Market players combine acquisition, partnership, alliance and expansion to gain
competitive advantage in the sector and retain market place.
Technological advances in the manufacture
of automotive test equipment and the increasing expenditure of key players in
research and development are expected to increase the level of competition in
the automotive bearing market size.
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