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Automotive Bearing Market will Register a CAGR of 4.9% through 2022
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The automotive bearing market is set to grow at a 4.9% CAGR by 2022, driven by tech advancements and increased vehicle production.
Automotive bearings are accountable for smooth, economical and frictionless running of automobiles. They are present in almost every part of the automobile to ensure movement safety, load handling as well as balance. Several types of bearings are used in automobiles. To name a few, thrust bearings, ball bearings, roller bearings, housed units, needle roller bearings, plummer blocks, plain bearings, spherical roller bearings, slim section bearings, ball thrust bearings, tapered roller bearings and specialized bearings are used. These bearings are made up of different material such as metal-polymers, engineered plastics, metals and bimetals and fibre reinforced composite. The growth of the automotive bearing market is driven by various aspects such as rising technological developments, increasing production of vehicles across the globe, increasing demand for advanced bearings from emerging economies, increasing use of bearings in luxury cars etc. However, high pricing and counterfeiting are main challenges faced by the global market for automotive bearings.
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The extensive research report on “Automotive Bearing Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022)”, presented by Future Market Insights uncovers various facets of automotive bearings, analysis on their applications in different vehicle types, sales channel analysis, etc. According to the in-depth research analysis delivered in this research report, the global automotive bearing market is poised to grow at a CAGR of 4.9% throughout the period of assessment 2017-2022.
5 Key Highlights on Global Automotive Bearing Market
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Market segmentation
Region
Bearing Type
Material Type
Sales Channel
Vehicle Type
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Key Player Profiles in the Global Automotive Bearing Market
The research report on global market for automotive bearings has included profiles of key players such as The Timken Company, Schaeffler AG, RKB Bearing Industries, NTN Corporation, NRB Bearings Ltd., Minebea Mitsumi Inc., JTEKT Corporation and ILJIN Bearing Co., Ltd.
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The article discusses the growth and trends in the automotive bearing market, projecting a 4.9% CAGR through 2022.
Technological advancements, increased vehicle production, and demand from emerging economies drive market growth.
The Asia-Pacific region is the most lucrative, with the highest growth rate and market valuation.
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