Automotive bearing market is expected to show a growth at CAGR of about 6% during the forecast period.
Automotive bearing system is used to enable the rotational and linear motion and also reduces the friction in the vehicles. The specialty of the bearing differs as per the vehicle it is used in such as, heavy vehicles demands bearings to be rigid enough to carry heavy weight and give trouble free and smooth operations. As per trend, ceramic and white metal alloy ball bearings are expected to capture the market for automotive bearing as these are lightweight and will enhance the product quality by reducing the friction and energy consumption during the operations. Moreover, increasing demand for the vehicles and technological advancement are driving the automotive bearing market. Automotive bearing market is expected to show a growth at CAGR of about 6% from 2016 to 2022.
Automotive Bearing Market, by Region (USD Million)
The key players of Global Market report include- Schaeffler AG., Jtekt Corporation, NTN Corporation, Iljin Bearing Co., Ltd., Timken Company, Svenska Kullagerfabriken AB, RKB Bearings, Timken Company, ORS Bearings, and CW Bearing.
Asia-Pacific is the major regions for the automotive bearing market. Asia-Pacific is expected to show significant growth in automotive bearing market. Emerging economies like China, India, are expected to drive the market due to increasing demand for vehicles, increasing individual’s disposable income & purchasing power is expected to drive the market for automotive bearing. Developed regions such as North America and Europe will show the static growth for the automotive bearing industry.
The report covers brief analysis of country level market information:
The report for Global Automotive Bearing Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030 : Significant Value|
|CAGR||6% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Schaeffler AG., Jtekt Corporation, NTN Corporation, Iljin Bearing Co., Ltd., Timken Company, Svenska Kullagerfabriken AB, RKB Bearings, Timken Company, ORS Bearings, and CW Bearing.|
|Key Market Opportunities||Increasing individual’s disposable income & purchasing power|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The automobile bearing market can surge at 6% CAGR by 2022.
The automobile bearing market poised to attain substantial value by 2022.
Timken Company, RKB Bearings, Svenska Kullagerfabriken AB, and Timken Company are some reputed names in the automobile bearing market.
The growing utility of heavy weight vehicles can impel the global market of automobile bearing.
The expansion of the APAC population base and their growing need for convenience are resulting in the high rate of automobile production that can prompt the regional automobile bearing market growth.