Global Automotive Bearings Market

PORTLAND, OREGAON, UNITED STATES, January 19, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, Automotive Bearings Market Share, Size, Competitive Landscape and Trend Analysis Report by Bearing Type (Ball Bearing, Roller Bearing, and Others) and Vehicle Type (Passenger Car, Commercial Vehicle, and Two-wheeler), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027.

The global automotive bearings market was valued at $31.66 billion in 2019, and is projected to reach $48.41 billion by 2027, registering a CAGR of 6.8% from 2020 to 2027. By vehicle type, the passenger car segment was the highest revenue contributor in 2019, accounting for $18.80 billion, and is estimated to reach $28.36 billion by 2027, registering a CAGR of 6.6% during the forecast period. In 2019, Asia-Pacific was anticipated to account for major market share.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6122

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

ILJIN Co., Ltd.,
JTEKT Corporation,
Nippon Thompson Co., Ltd. (IKO International, Inc.),
NSK Ltd,
NTN Corporation,
RBC Bearings Incorporated,
Schaeffler AG,
SKF,
THK CO., LTD.,
The Timken Company.

The Asia-Pacific region is dominating the market in term of revenue in year 2019, followed by Europe, North America, and LAMEA. In Asia-Pacific, China dominated the automotive bearings market in 2019, whereas India is expected to grow at a significant rate during the forecast period.

Automakers across the world are focusing on reducing the overall weight of vehicles, owing to improvement in fuel efficiency and lower carbon dioxide (CO2) emissions. Lightweight bearings play a major role in reducing the overall weight of vehicles. For this purpose, bearing makers are focusing on using low tolerance and enhanced forging techniques in production, in a bid to remain competitive and to comply with the changing norms.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-bearings-market/purchase-options

Factors such as increase in vehicle production, development to reduce overall weight of the vehicle, rise in demand for luxury feature in vehicles, rise in disposable income, and surge in sales of luxurious vehicles in developing countries drive the market growth. However, electrification in vehicles and fluctuating raw material cost needed for manufacturing bearings limit the stated growth. On the contrary, increase in safety & comfort features in vehicles, emergence of sensor bearing units, and development of additive manufacturing technologies & materials to manufacture bearings are anticipated to offer remunerative opportunities for the players operating in the automotive bearings market size.

The global automotive bearings market size is segmented into bearings type, Vehicle type, distribution channel, and region. On the basis of bearings type, the market is fragmented into ball bearing, roller bearing, and others. Depending on vehicle type, it is segregated into passenger car, commercial vehicle, and two-wheeler are categorized under. By distribution channel, it is bifurcated into OEM and aftermarket. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘 :

In 2019, by bearings type, the ball bearing segment generated the highest revenue.

On the basis of vehicle type, the passenger car vehicle segment was the highest revenue contributor in 2019.

Region wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6122

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The Automotive Bearings market is examined across four key regions, including North America, Europe, Asia-Pacific, and LAMEA. In North America, the market trends in the U.S., Canada, and Mexico are vividly explored. Europe analysis covers Germany, the UK, Italy, Spain, France, and the rest of Europe. Asia-Pacific includes India, China, Japan, South Korea, Australia, and the rest of the region. LAMEA analysis comprises Brazil, Saudi Arabia, South Africa, and the rest of the region.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐀𝐂 𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.globenewswire.com/en/news-release/2023/03/08/2622649/0/en/Automotive-AC-Compressor-Market-Is-Expected-to-Reach-11-8-Billion-by-2031-Allied-Market-Research.html

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐇𝐲𝐩𝐞𝐫𝐯𝐢𝐬𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.globenewswire.com/en/news-release/2021/08/05/2275805/0/en/Automotive-Hypervisor-Market-to-Garner-2-03-Billion-by-2030-Allied-Market-Research.html

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.prnewswire.com/news-releases/automotive-cybersecurity-market-to-reach-32-41-billion-globally-by-2030-at-16-6-cagr-amr-301478540.html

David Correa
Allied Market Research
+1 800-792-5285
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