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Automotive Bearing Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2022.Automotive bearing system is useful for enabling the linear as well as rotational motion. Automotive bearing system reduces the friction in the vehicles. Market Research Future (MRFR) has published a research report that expects expansion for the global automotive bearing market at 6% CAGR (Compound Annual Growth Rate) between 2016 and 2022.
Observing the market structure, this report measures the future growth potential of the market. It gauges the strategies of the key players in the market and aids the competitive developments like new product developments, joint ventures, mergers & acquisitions, research and developments (R&D) in the market.
The foremost factors driving the global automotive bearing market growth include increasing demand for vehicles and technological advancement. The increasing demand for vehicles with technologically advanced solutions is resulting in an increase in vehicle manufacturing that requires instrumented products. However, high pricing and forging can restrain market growth.
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Segmentation of Automotive Bearing Market
The global automotive bearing market can be segmented on the basis of type, vehicle type, and lastly region. By type, this market can be segmented into ball bearings, plain bearings, roller bearings, thrust bearings, and others. Based on vehicle type, the market segmentation covers 2-Wheeler, passenger vehicle, and commercial vehicle. 2-Wheeler vehicles are vehicles with 2 wheels like motorcycle and scooter. Commercial vehicles are used for transferring raw materials for the production of goods or finished goods to the retailers. The passenger vehicle is used by an individual for traveling and commuting.
Key Players
The key players in the global automotive bearing market include CW Bearing (USA), Iljin Bearing Co. Ltd. (South Korea), JTEKT Corporation (Japan), Niwa Tomoe Nishizono (NTN) Corporation (Japan), ORS Bearings (USA), RKB Bearings (Switzerland), Schaeffler AG (Germany), Svenska Kullagerfabriken AB (Sweden), and Timken Company (USA).
Regional Analysis of Automotive Bearing Market
The regional segmentation of the global automotive bearing market segments the market into regional markets known as Europe, North America, Asia Pacific, and the rest of the world (RoW). During the forecast period, the Asia Pacific region is expected to dominate the global market due to the presence of developing countries like China and India. These countries are witnessing the growth of the automotive industry at a faster pace. Other factors contributing to the market growth include the increasing number of vehicles manufacturing facilities, increasing production capacity, low cost of production, and growing demand for light & heavy vehicles. Japan (followed by the remaining countries of the Asia Pacific region), is the third most important country-specific market in this region due to the technological market.
Developed regions like North America and Europe are going the static market growth during the forecast period due to already established markets in these regions and the presence of many major market players in these regions. In North America, the main country-specific markets are the USA, Canada, and Mexico, followed by the remaining countries of North America. In Europe, such markets are France, Germany, and the UK, followed by the remaining countries of Europe. Among RoW countries, the most important country-specific markets are Brazil, Russia, and Saudi Arabia, followed by other countries.
Latest Industry News
Sweden’s Svenska Kullagerfabriken (SKF) has teamed up with UAE's Mineral Circles Bearings (MCB) for automotive aftermarket services in the Middle East that include the automotive bearing. 18 MAR 2019
Dana has launched Spicer Dura-Tune centre bearing which is available on standard Spicer SPL and heavy-duty Spicer 10 Series driveshafts. 19 MAR 2019
Schaeffler is expanding its wheel bearing portfolio for heavy commercial vehicles. A new catalog is now available for the automotive aftermarket. 22 NOV 2018
A team of automotive researchers is working on a four-year project in order to build a 100% recyclable, lighter, carbon fiber-reinforced thermoplastic door. 31 JAN 2019
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