The global automotive bearings market is anticipated to grow at a CAGR of 6.8% during the forecast period (2022-2028). Automakers all over the globe are concentrating on reducing vehicle’s overall weight in order to enhance efficiency and reduce carbon dioxide (CO2) emissions. Lightweight bearings make a substantial contribution to vehicle weight reduction. Bearing manufacturers are working on using lower tolerance and increased forging processes in the manufacturing to stay competitive and comply with new standards. Furthermore, lightweight bearings are in high demand in current cars and sport utility vehicles (SUVs) due to their improved durability, rigidity, and weightlessness. As a result of the increased focus on vehicle weight reduction, the automotive bearing industry is expected to develop.
A full report Automotive Bearings Market of is available at: https://orionmarketreports.com/automotive-bearings-market/107494/
Bearings are required for the operation of all moving parts in automobiles. Bearings improve vehicle performance, allow huge loads to be carried, and reduce friction. Engines, gearboxes, transmissions, wheels, steering, electrical motors, and pumps are just a few of the important sub-systems that employ bearings. Bearings are also required for the smooth operation of wipers, rearview mirrors, doors, and bonnet hinges. Since, as the number of models and new types of cars entering the market grows, the demand for bearings is expected to rise significantly. Automobile sales are also likely to rise in the future years, due to a larger middle-class population and rising disposable income which indirectly create demand for auto parts and component.
Players and Their Products
- The TIMKEN CO. offers Timken® Ball Bearings. Timken® micro bearings are available in inch and metric diameters and can be used for a radial retainer, pivot, thrust, high-speed radial, angular contact, and full ball complement applications.
- Schaeffler AG, a bearing and seal manufacturer, is creating tiny and lightweight bearings that are meant to function at exceptionally high speeds and have improved stiffness, higher load-carrying capacity, and longer working life.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Bearing Type
- By Vehicle Type
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- ILJIN co., ltd., JTEKT Corp., RBC Bearings Incorp., Schaeffler AG, THE TIMKEN CO., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Bearings Market Report by Segment
By Bearing Type
- Ball Bearing
- Roller Bearing
- Others
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Two-Wheeler
By Distribution Channel
- OEM
- Aftermarket
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic coverage
- North America market size and/or volume
- Latin America market size and/or volume
- Europe market size and/or volume
- Asia-pacific market size and/or volume
- Rest of the world market size and/or volume
Recent Developments
- Market Overview and growth analysis
- Import and Export Overview
- Volume Analysis
- Current Market Trends and Future Outlook
- Market Opportunistic and Attractive Investment Segment
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