According to a new market report by Lucintel, the future of the global automotive bearing market looks promising with opportunities in the passenger car, commercial vehicle and two-wheeler markets. The global automotive bearing market is expected to grow with a CAGR of 6% to 8% from 2023 to 2028. The major drivers for this market are increasing focus of OEMs toward reduction of vehicle weight, rise in automobile production along with sales, and increasing demand for technologically advanced solutions.
In this market, ball bearing, roller bearing, and plain bearing are the major market segments by bearing type. On the basis of its comprehensive research, Lucintel forecasts that ball bearing will remain the largest segment over the forecast period as ball bearing possesses the ability to rotate at high speed and the ability to withstand light to medium load, and these are primarily used in electric vehicles.
Within this market, passenger car is expected to remain the largest segment due to increasing the production volumes of passenger vehicles and rising demand from developing countries.
APAC will remain the largest region due to growth in production of vehicles, increase in average vehicular age, and introduction of various new vehicle models.
ILJIN co., JTEKT Corporation, Nippon Thompson, NSK, NTN Corporation, RBC Bearings, Schaeffler AG, SKF, THK CO., and The Timken Company are the major suppliers in the global automotive bearing market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive bearing market by bearing type, vehicle type, distribution channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Bearing Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive bearing market by bearing type, vehicle type, distribution channel, and region, as follows:
Automotive Bearing Market by Bearing Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Ball Bearing
· Roller Bearing
· Plain Bearing
Automotive Bearing Market by Vehicle Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Passenger Car
· Commercial Vehicle
· Two-Wheeler
Automotive Bearing Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
· OEM
· Aftermarket
Automotive Bearing Market by Region Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Automotive Bearing Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive bearing market by bearing type (ball bearing, roller bearing, and plain bearing), vehicle type (passenger car, commercial vehicle, and two-wheeler), distribution channel (OEM and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?