Market Snapshot:
Commercial Vehicle Bearing is used to reduce friction in moving commercial vehicle parts by providing desired motion. They are categorized based on operation, motion and load direction. Bearings are designed in a way to provide maximum efficiency, durability, and performance. Globally, the number of commercial vehicles has increased as industrialization took place which was fueled by rising disposable income. The rise in commercial vehicle sales coupled with changing technologies will drive commercial vehicle bearing market amid rising dominance of electrical vehicles posing a significant threat to the market.
Highlights from Commercial Vehicle Bearing Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are SKF (Sweden), Schaeffler (Germany), NSK (Japan), NTN (Japan), JTEKT (Japan), TIMKEN (United States), Federal-Mogul (United States), Nachi-Fujikoshi (Japan), Perfect Fit Industries (United States), GKN (United Kingdom), GMB Corporation (Japan), FKG Bearing (China), ILJIN Co (South Korea), LK GLSP (South Korea), Saint-Gobain (France), Wafangdian Bearing (China) and Qingdao Taide Automobile Bearing (China). Additionally, other players that are part of this comprehensive study are Harbin Bearing (China), Tri-Ring (China), Chongqing Changjiang Bearing (China), Luoyang LYC Bearing (China) and Nanjing Bearing (China).
Geographic Breakdown and Segment Analysis
The Global Commercial Vehicle Bearing market presents a comprehensive analysis of the Commercial Vehicle Bearing market by product type (Ball bearing, Roller bearing and Others), by end-user/application (Light Commercial Vehicle and Heavy Commercial Vehicle), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Commercial Vehicle Bearing industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in the geographical region of interest.
For instance, while the holds majority of market share of the Commercial Vehicle Bearing market
Analyst at AMA have segmented the market study of Global Commercial Vehicle Bearing market by Type, Application and Region.
Commercial Vehicle Bearing Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Commercial Vehicle Production Owing to Rising Demand
- Growing E-tailing Activities
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Influencing Trends | - Exploration of Alternative Raw Materials with an Aim to Reduce the Weight
- Growing Focus on Increasing Volumetric Efficiency by Reducing Friction
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Restraints | - Widespread Availability of Counterfeit Commercial Vehicle Bearings
- Rising Raw Materials Prices
- Low Replacement Rate Owing to Longer Life-span
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Gaps & Opportunities | - Rising Sales of Commercial Vehicle Across Developing Countries
- Emergence of Innovative Technologies in Automobile Components Manufacturers
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Market Developments Activities:
In November 2022, SKF acquired Tenute Srl. Tenute develops and manufactures sealing solutions for a variety of industrial applications and employs approximately 50 people. Tenute Srl has been incorporated into SKF's existing Seals business. Tenute Srl was delighted to welcome a new colleague from SKF there. This acquisition strengthens our already leading offerings, with a particular focus on customers in the heavy and process industries.
Recently in February 2019, French automobile equipment manufacturers Saint-Gobain developed a new kind of automotive bearing keeping end-users comfort at fore. This technology combined low friction properties of PTFE (Polytetrafluoroethylene) lined plain bearing with radial spring features of tolerance rings.
Key Target Audience
Commercial Vehicle Bearings Manufacturers, Automobile Industries, Component Suppliers/Distributors, Raw Materials Suppliers, Government Agencies, Research Institutes, Market and Research Firms and Others