Published: 2019-01-16   Views: 15
Author: ankush321
Published in: Automotive
Automotive Bearing Market To Grow At  4.9% CAGR Through 2022

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.

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

  • Ball thrust bearings segment by bearing type category to represent significant share in the coming years. This segment is also expected to gain a high BPS by the end of the assessment period and is poised to register a CAGR of 5.3% throughout the 2017-2022 period

  • Fibre reinforced composite segment by material type is expected to be the fastest growing segment during the assessment period. This segment is projected to reflect a high CAGR of 5.2% with a significant market share. It holds high potential in the coming years

  • Asia-Pacific excluding Japan (APEJ) region is the most lucrative region for the growth of the automotive bearing market. This region is ahead of other regions with respect to growth rate as well as market valuation during the period of assessment. This region is poised to register CAGR of 5.2% through 2017-2022

  • OEM segment by sales channel is expected to grow at a high pace during the assessment period. However, the aftermarket segment in this category, as of 2017, holds a high market share of 63.4%

  • Light commercial vehicles segment by vehicle type is a potential segment with respect to the use of automotive bearings and is expected to register the highest CAGR of 5.3% throughout the period of assessment

Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/REP-GB-729

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., MinebeaMitsumi Inc., JTEKT Corporation and ILJIN Bearing Co., Ltd.

Asia-Pacific excluding Japan Region (APEJ) to Present High Opportunities

The APEJ region is expected to be the most lucrative region presenting high opportunities to upcoming players and established giants in the automotive bearing sector in the years to come. The APEJ automotive bearing market is expected to grow at the highest rate by registering a high 5.2% CAGR during 2017-2022. The automotive bearing market in this region is also expected to represent a high market valuation by 2022 end.

Competitive Scenario

The research study on automotive bearing market has covered several key player profiles that includes their SWOT analysis, company overview, key financials, product portfolios and key developments. Companies such as ILJIN Bearing Co., Ltd., JTEKT Corporation, MinebeaMitsumi Inc., NRB Bearings Ltd., NTN Corporation, RKB Bearing Industries, Schaeffler AG and The Timken Company are profiled in this research study

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