Industry Background:
Bearings are used to reduce friction in moving automotive parts by providing desired motion. They are categorized based on operation, motion and load direction. Bearings are designed in way to provide maximum efficiency, durability and performance. Globally, number of vehicles have increased as industrialization took place which was fueled by rising disposable income. Rise in automotive sales coupled with changing technologies will drive automotive bearing market amid rising dominance of electrical vehicles posing a significant threat to the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
This growth is primarily driven by Increasing Vehicles Production Owing to Rising Demand and Growing E-tailing Activities.
Globally, a noticeable market trend is evident Exploration of Alternative Raw Materials with an Aim to Reduce the Weight
Major Vendors, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2022, SKF acquired Laser Cladding Venture n.v. (LCV), an additive manufacturing company based in Belgium. LCV is a niche engineering startup specializing in a range of additive manufacturing technologies and processes applicable to support SKF's service and remanufactured products.
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.
Influencing Trend:
Exploration of Alternative Raw Materials with an Aim to Reduce the Weight and Growing Focus on Increasing Volumetric Efficiency by Reducing Friction
Market Growth Drivers:
Increasing Vehicles Production Owing to Rising Demand and Growing E-tailing Activities
Challenges:
Dominance of Local Players and Need for Less Number of Bearings in Electrical Vehicles
Restraints:
Widespread Availability of Counterfeit Automobile Bearings, Rising Raw Materials Prices and Low Replacement Rate Owing to Longer Life-span
Opportunities:
Rising Sales of Automotive Across Developing Countries and Emergence of Innovative Technologies in Automobile Components Manufacturers
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automobile Bearings Market
- Analysis about New Entrants in Automobile Bearings Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automobile Bearings Study Sheds Light on
The Automobile Bearings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automobile Bearings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automobile Bearings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.