How much is the Automotive Bearing market worth?
According to the report, global demand for automotive bearing market was valued at approximately USD 75.45 Billion in 2019 and is expected to generate revenue of around USD 123.46 Billion by end of 2027, growing at a CAGR of around 6.4% between 2020 and 2027.
What is Automotive Bearing?
Bearing is a machine element that restricts relative movement and reduces friction between moving parts. In almost all equipment or machinery, bearings are used, ranging from farm equipment’s, vehicle components, and household appliances to defense and aerospace equipment’s. Demand for bearings with higher performance, lower maintenance, and longer service life is growing. In addition to the increasing automotive industry worldwide, it has been observed that the rising average age of vehicles is expected to increase demand for maintenance, repair and replacement of automotive components, which in effect promotes sales of automotive components like automotive bearing. Technology advances are being made in the automotive engine bearing market, so that the engine bearings work properly and have longer life. The proper functioning of the engine bearing is accomplished when the building material possesses the properties including high strength and softness.
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What are Automotive Bearing market’s key drivers?
- Increasing Vehicle Production
- Growing Demand for Off-Highway and Two Wheelers
- Increasing Average Age of Vehicles
How much market share of Automotive Bearing was held by ball bearing segment in 2019?
The ball bearing segment held almost 31% share of the market in 2019 in terms of revenue and volume. The latest changes to the reduction of friction and heat generation through these bearings, combined with high demand for commercial and off-road vehicles, are likely to support the ball bearing segment globally.
How much market share of Automotive Bearing was held by passenger vehicles segment in 2019?
The passenger vehicles segment held almost 29% share of the market in 2019. The market in this segment is growing due to rising demand for passenger vehicles, from the developing nations and increasing demand for technologically advanced solutions.
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Which region is predicted to have the largest share in the Automotive Bearing market?
By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific held almost 36% share of the overall market due to the existence of significant number of automakers in this region. Consumers inhabit their vehicles with reliable and durable parts to ensure their vehicles work well and prevent engine breakdown. Nations like Brazil, Russia, India, China, and South Africa are also global car markets which in turn would make a major contribution in the automotive bearing market. It is projected that there will be a stable growth for automotive bearing in mature markets of Europe and North America.
Which are the prominent Automotive Bearing Key Players across the globe?
Major players in automotive bearing market are NTN Corp. (Japan), Rheinmetall Automotive (Germany), Timken Co. (U.S.), JTEKT Corp. (Japan), Shaeffler AG (Germany), SKF (Sweden), Minebea Co., Ltd. (Japan), Federal-Mogul Holdings LLC (U.S.), SNL Bearings Ltd. (India), and Nachi Fujikoski (Japan) among others.
Table of Contents (TOC)
1. Global Automotive Bearing Market Introduction
1.1. Definition and Taxonomy
1.2. Research Scope
2. Research Methodology
3. Executive Summary
3.1. Global Market Overview and Key Findings by Major Segments
4. Market Dynamics and Industry Trend Analysis
4.1. Market Dynamics
4.2. SWOT Analysis
4.3. PESTLE Analysis
4.4. Porter’s Five Forces Analysis
4.5. Market Growth Attractiveness Analysis by Key Segments and Region
5. Competitive Landscape and Market Share Analysis by Manufacturers
5.1. Market Competition Scenario
5.2. Manufacturer Market Share
5.3. Manufacturer Intensity Map
5.4. Opportunity Orbits
5.5. Strategic Market Developments
6. Global Automotive Bearing Market Value (USD Million), Share (%), Comparison by Key Segments
7. Global Automotive Bearing Market Value (USD Million), Share (%), Comparison by Region
7.1. North America
7.1.1. North America Regional Market Size and Trend Analysis
22.214.171.124. Rest of North America
7.2.1. Europe Regional Market Size and Trend Analysis
126.96.36.199. Rest of Europe
7.3. Asia Pacific
7.3.1. Asia Pacific Regional Market Size and Trend Analysis
188.8.131.52. Southeast Asia
184.108.40.206. Rest of Asia Pacific
7.4. Latin America
7.4.1. Latin America Regional Market Size and Trend Analysis
220.127.116.11. Rest of Latin America
7.5. Middle East and Africa
7.5.1. Middle East and Africa Regional Market Size and Trend Analysis
18.104.22.168. Saudi Arabia
22.214.171.124. South Africa
126.96.36.199. Rest of Middle East and Africa
8. Company Profiles of Key Manufacturers
8.1. Company Basic Information
8.2. Company Overview
8.3. Financial Highlights
8.4. Product Portfolio
8.5. Business Strategy
8.6. Recent Market Developments
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