Raipur, May 12, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a global market research firm has launched a report on the Automotive Bearing Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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What are Automotive Bearings?
In the automotive industry, bearings are used to enable rotational or linear movement while reducing friction and handling stress. Bearings are usually designed to bear axial, radial, or a combination of both loads. The structure of bearing consists of rolling elements and inner and outer races. This assembly allows one part to bear another in automobiles.
How is the Report Helpful?
Stratview Research provides high-utility reports to help users and key decision-makers gain accurate insights into current business trends, future growth opportunities, and key success factors in the industry.
Most importantly, this report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a productive manner.
What are the Top Market Drivers?
The automotive bearings market is highly dependent on the organic growth of automotive production and follows similar strides as automotive production.
Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfil the market data needs of multiple stakeholders across the industry value chain.
Vehicle Type – Passenger Vehicle, Light Commercial Vehicle, and Medium& Heavy Commercial Vehicles.
Bearing Type – Ball Bearing, Roller Bearing, and Plain Bearing.
Material Type – Metallic, Non-metallic, and Hybrid.
Application Type – Engine& Transmission System, Steering System, Wheels, and Others.
End-User Type – OE and Aftermarket
Region – North America, Europe, Aisa-pacific, and the Rest of the World.
Market Insights
Automotive Bearings Market Share by Vehicle Type
Based on the vehicle type, Passenger vehicle is expected to maintain its indubitable lead till 2026, driven by a sustained increase in urban demand, rising consumer disposable income, increasing motorization rate, and reasonably higher production of passenger cars than commercial vehicles.
Automotive Bearings Market Share by Bearing Type
Based on the bearing type, the Ball bearing is likely to remain the dominant bearing type in the market till 2026, given its characteristics of efficient functioning at higher speed as compared to roller bearings and ability to bear both radial and axial load in moderate amounts.
Automotive Bearings Market Share by Material Type
Based on the type of material, Metallic bearing is projected to maintain its invincible lead in the market till 2026, propelled by its ability to sustain in applications involving extremely high loads and fast rotations per minute (rpm). Stainless steel is the most widely used bearing material type, its excellent corrosion- and temperature-resistant properties make it superior to other competing materials.
Which region offers the best opportunity and growth?
All regions registered massive downfalls in 2020 in the wake of the pandemic. Asia-Pacific registered the minimum loss in 2020 and is projected to maintain its lead in the global market during the study. China, India, and Japan, with a majority of the world’s population, are creating a massive demand for vehicles, which, in turn, is causing a stir in the region’s automotive bearings market.
To know more about the report, download a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/1490/automotive-bearing-market.html#form
Who are the Top Market Players?
The supply chain of this market comprises raw material suppliers, automotive bearings manufacturers, distributors, OEMs, dealers, and distributors.
The key automotive bearing manufacturers include-
- Schaeffler Group
- AB SKF
- NSK Ltd.
- NTN Corporation
- JTEKT Corporation
- The Timken Company
Bird’s eye view of the market -
- What will be the size of the Automotive Bearing Market in the foreseeable future?
- Who are the key players in the market?
- Which region is expected to maintain its lead in the market?
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About us –
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