Automotive Bearings Market Share

PORTLAND, OREGAON, UNITED STATES, September 25, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global automotive bearings market garnered $31.60 billion in 2019, and is expected to generate $48.41 billion by 2027, witnessing a CAGR of 6.8% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning segments, major segments, market size & forecasts, value chain, and competitive landscape.

Inclination toward total weight reduction of vehicles and increase in sales & production of automobiles worldwide fuel the growth of the global automotive bearings industry. However, surge in vehicle electrification and fluctuations in raw material prices restrain the market growth. On the other hand, emergence of sensor bearing units and advent of innovative additive manufacturing technologies create lucrative opportunities in the next few years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6122

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐬 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐛𝐞𝐚𝐫𝐢𝐧𝐠𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐛𝐞𝐚𝐫𝐢𝐧𝐠 𝐭𝐲𝐩𝐞, 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, 𝐝𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧 :

By bearing type, the ball bearing segment contributed to the largest share in 2019, accounting for nearly half of the total market share, and is expected to maintain its highest contributing during the forecast period. However, the roller bearing segment is expected to manifest the fastest CAGR of 7.3% from 2020 to 2027.

By vehicle type, the two-wheeler segment is projected to grow at the fastest CAGR of 7.5% from 2020 to 2027. However, the passenger car segment accounted for the highest market share, contributing to nearly three-fifths of the global automotive bearings market share in 2019, and will maintain its lead position throughout the forecast period.

By region, Asia-Pacific held the largest market share with nearly two-fifths of the total share of the market in 2019, and is estimated to maintain its dominance in terms of revenue by 2027. Moreover, this region is projected to witness the highest CAGR of 7.7% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

Manufacturing facilities have halted their day-to-day operations due to lockdown restrictions imposed by governments. Moreover, there have been disruptions in supply chain, which in turn, resulted in shortage of raw materials.

As majority of labors have returned to their hometowns, the operations have not been resumed with full capacity during the post-lockdown period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-bearings-market/purchase-options

Research and development activities have been halted as facilities have been closed down. However, they would regain momentum as facilities begin their operations with full capacity.

The sales and demand for technologically- advanced bearings would rise post-lockdown as day-to-day operations in manufacturing facilities and supply chain resume.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

ILJIN Co., Ltd.,
JTEKT Corporation,
Nippon Thompson Co., Ltd. (IKO International, Inc.),
NSK Ltd,
NTN Corporation,
RBC Bearings Incorporated,
Schaeffler AG,
SKF,
THK CO., LTD.,
The Timken Company.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6122

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐀𝐂 𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.globenewswire.com/en/news-release/2023/03/08/2622649/0/en/Automotive-AC-Compressor-Market-Is-Expected-to-Reach-11-8-Billion-by-2031-Allied-Market-Research.html

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐇𝐲𝐩𝐞𝐫𝐯𝐢𝐬𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.globenewswire.com/en/news-release/2021/08/05/2275805/0/en/Automotive-Hypervisor-Market-to-Garner-2-03-Billion-by-2030-Allied-Market-Research.html

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.prnewswire.com/news-releases/automotive-cybersecurity-market-to-reach-32-41-billion-globally-by-2030-at-16-6-cagr-amr-301478540.html

David Correa
Allied Market Research
+ +1 800-792-5285
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