Automotive bearings are components which are capable of carrying heavy loads with ease and efficiency. High precision, reliability, durability, and the ability to rotate at high speeds with minimal noise and vibration are the desired characteristics of automotive bearings. Bearings help reduce the friction between the moving parts of the vehicle.
The rapid growth of the automotive industry across the world in the recent years is expected to drive the automotive bearing market during the forecast period. Increase in the average lifespan of vehicles due to the incorporation of fuel-efficient technologies is likely to further boost the automotive bearing market during the forecast period. Increasing efforts being taken in developing lightweight materials in high performance bearings are anticipated to fuel the automotive bearing market in the near future. Development and incorporation of novel sealing technologies by OEMs for sealing the bearings from contamination in order to increase the average lifespan of automotive bearings is expected to further propel the automotive bearing market in the next few years.
Based on type, the automotive bearing market can be segmented into ball bearings, roller bearings, plain bearings, thrust bearings, and others. The roller bearings segment can be further sub-segmented into cylindrical & needle roller bearings, tapered roller bearings, and spherical roller bearings. Cylindrical & needle roller bearings and spherical roller bearings are primarily utilized in gearbox and transmission of vehicles, while the tapered roller bearings are employed primarily in heavy industrial truck and wheel applications with combined radial and axial loads. The ball in the ball bearings performs the rolling function. The remarkable characteristics of ball bearings include low friction, ability to rotate at high speeds and the ability to withstand light to medium load. Ball bearings are primarily used in under–the-hood applications in vehicles.
Plain bearings contain no rolling elements. Plain bearings have the capacity to bear heavy loads and large carrying capacities. Thus, plain bearings are primarily utilized in heavy commercial vehicles. Thrust bearings assist in the support of an axial load and allow for rotation between two parts. The ball bearings segment is expected to expand at a rapid pace during the forecast period owing to its remarkable properties such as high load bearing capacity, strength, wear resistance, and overall performance.
Based on vehicle type, the automotive bearing market can be classified into passenger vehicles and commercial vehicles. The passenger vehicles segment is estimated to expand at a considerable growth rate during the forecast period owing to the increasing production volumes of passenger vehicles.
Based on application, the automotive bearing market can be divided into engine, transmission system, steering system, and air conditioning system. Engine and transmission system segments are projected to expand at a rapid pace since the components of the engine and the transmission system are constantly in motion and undergo continuous wear and tear.
Based on sales channel, the automotive bearing market can be classified into OEM (original equipment manufacturer) and aftermarket. The aftermarket segment is anticipated to expand at a significant growth rate during the forecast period owing to the need for replacement of the bearing due to wear and tear after prolonged usage or the bearings get damaged.
Based on geographical region, the automotive bearing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The automotive bearing market in Asia Pacific is expected to expand at a significant growth rate during the forecast period. This is mainly attributed to the fact that China which ranks first in vehicle production in the world is undertaking tremendous efforts to boost the growth of the automotive industry. Automotive industry in Asia Pacific is seen to expand at a rapid rate due to the presence of well-established manufacturing facilities of top OEMs in few nations of Asia Pacific such as China, Japan and South Korea.
Key players operating in the global automotive bearing market include Schaeffler AG., Jtekt Corporation, NTN Corporation, Iljin Bearing Co. Ltd., Timken Company, Svenska Kullagerfabriken AB, RKB Bearings, Timken Company, ORS Bearings, and CW Bearing.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.