Automotive Bearing Market: Industry Size, Share, and Competition Analysis

According to the TechSci Research report, "Automotive Bearing Market- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027F", the global automotive bearing market is expected to reach USD 64,367.35 million by 2027, growing at a CAGR of 6.67% by 2027. This is owing to the fact that demand for global automobile production is increasing, and bearing is essential part in the automobile. Moreover, smart bearings which are better designed and technologically efficient, with hi-tech application and higher reliability with long service life is also a factor in increasing demand of the automotive bearings.

The main function of the bearing is to reduce friction, bear heavy loads, and enhance the performance of the vehicle. Thus, in every component of automobile, be it wheel, steering suspension, engine, and transmission bearing is used everywhere. Also, with increasing number of models and new type of vehicles entering in the market such as electric vehicle in which specialized customised bearing are installed, thus it is also increasing the bearing market.

Innovation in the bearing market is also making great strides. Bearing is now used with simulation software that will measure the bearing performance, service life, and reliability, but it will also protect the bearing by detecting the faults before sudden failure may happen. Even now the manufacture are making the advancement in the bearing material with hard coating, ceramics, and speciality steels are used for manufacturing bearing.

Browse more than
 145 market data Figures spread through 110 Pages and an in-depth TOC on "Global Automotive Bearing Market"

Global automotive bearing market can be segmented based on vehicle type, application type, bearing type, by region, and by company. Based on vehicle type, the passenger car segment currently dominates the global automotive bearing market with highest share among all vehicle type. This is due to the rising demand of the passenger car in production, disposal income of consumers and sales. In the application type, the wheel bearing is leading in the overall global automotive bearing market because without the wheel bearing, the wheel assembly will not work. Wheel and engine bearing market remain in competitive landscape as both are in high number in vehicles, but their different numbers of wheel are installed in the different type of vehicles are different thus leading to higher wheel bearing market. Based on bearing type, ball bearing dominates the Global Automotive Bearing market with more than 44 % share due to the smooth functionality, cost effective, and protect from leakage in casing. Based on region, the Asia-Pacific occupies the largest share in the bearing market due to the automotive production is this region is more.

Some of the major players operating in the Global Automotive Bearing Market include:

  • AB SKF
  • Schaeffler (FAG)
  • NSK Ltd.
  • NTN Corporation
  • NMB Technologies Cooperation
  • TIMKEN Company
  • Torrington Company
  • JTKET corporation
  • Nachi-Fujikoshi Corp
  • Wafangdian Bearing Group Co Ltd.

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“Many companies are investing in research and development of bearing, which will lead to introduction of innovative bearing that will meet the demand of new vehicle segment, cost effective, and smart bearing.," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Global Automotive Bearing Market by Vehicle Type (Two Wheeler, Passenger Car ,Light commercial vehicles, medium and heavy commercial vehicles,), By Application Type (Engine, Transmission, Wheel , Steering and others), By Bearing Type (Ball, Roller, Plain), By Region(Asia-Pacific, Europe, North America, South America, and Middle East & Africa) By top 10 Company Competition Forecast & Opportunities, 2018- 2028F, 
has evaluated the future growth potential of the Global Automotive Bearing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive Bearing market.

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About TechSci Research:

TechSci Research is a research based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.


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