Automotive Bearing Market Report 2019, Analysis 2013-2018 & Forecasts 2019-2025
DUBLIN, May 20, 2019 /PRNewswire/ -- The "Automotive Bearing Market (2013-2025)" report has been added to ResearchAndMarkets.com's offering.
The 2025 size of the automotive bearing market has been estimated as $53.3 billion.
The expanding automotive industry and the increasing desire to make vehicles lightweight are resulting in the market progress. In a bid to reduce the vehicle weight, manufacturers are going for lightweight bearings that are also stiff and durable. The bearings are now being manufactured by utilizing enhanced forging techniques and low torque. This is how the demand for lightweight vehicles is pushing the demand for advanced bearings, which is, in turn, driving the market growth.
Roller bearing, ball bearing, and plain bearing are the various types of bearings available, among which the ball category is predicted to dominate the automotive bearings market in 2018 with over 50% sales volume share. This is attributed to the heavy use of ball bearings in two-wheelers and passenger cars. But, the share of roller bearings is expected to increase during the forecast period owing to a rise in heavy-duty vehicle production.
On segmenting the domain by vehicle type, passenger car, two-wheeler, electric vehicle, and commercial vehicle are the four subdivisions. Among these, the electric vehicle subdivision witnessed the highest automotive bearing market CAGR during the historical period. Alarming air pollution levels impelled governments to form stringent emission regulations and offer subsidies to encourage their adoption. Further, people also accepted electric vehicles with open arms, which resulted in an increased demand for these, which, in turn, drove the requirement for automotive bearings.
Independent aftermarket (IAM), original equipment supplier (OES), and original equipment manufacturer (OEM) are the three main sales channels for such automotive bearings. The fastest growth in the automotive bearing market during the forecast period is expected to be witnessed by OEMs, as these are improving their products as well as manufacturing capacities to cater to the rising demand.
In 2018, Asia-Pacific (APAC) is estimated to purchase almost 45% of all the automotive bearings manufactured across the world, owing to the expanding automobile industry in countries, such as India, China, Indonesia, and Thailand. Here, the increasing living standards and affordability of vehicles are pushing the automotive industry, which is further driving the market for automotive bearings. China is slated to be the automotive bearing market leader due to an increasing regional demand for vehicles.
To expand their product range and market share, the key players are actively taking part in mergers and acquisitions. For example, in 2018, Cone Drive Operations Inc., a manufacturer of gears and precision drives, and ABC Bearings Ltd., a bearing manufacturer based in India, were acquired by The Timken Company.
Other automotive bearing market players, including MINEBEA MITSUMI Inc., JTEKT Corporation, NTN Corporation, NSK Ltd., Schaeffler AG, RBC Bearings Inc., AB SKF, C&U Group Ltd., and NACHI-FUJIKOSHI CORP., are taking similar steps.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Bearing Type
4.1.1.1 Roller bearing
4.1.1.1.1 Tapered roller bearing
4.1.1.1.2 Cylindrical roller bearing
4.1.1.1.3 Spherical roller bearing
4.1.1.1.4 Needle roller bearing
4.1.1.1.5 Thrust roller bearing
4.1.1.2 Ball bearing
4.1.1.2.1 Deep-groove ball bearing
4.1.1.2.2 Angular contact ball bearing
4.1.1.2.3 Thrust ball bearing
4.1.1.2.4 Self-aligning ball bearing
4.1.1.3 Plain bearing
4.1.2 By Vehicle Type
4.1.2.1 Two-wheeler
4.1.2.2 Passenger car
4.1.2.3 Commercial vehicle
4.1.2.4 Electric vehicle
4.1.2.4.1 Two-wheeler
4.1.2.4.2 Passenger car
4.1.2.4.3 Commercial vehicle
4.1.3 By Sales Channel
4.1.3.1 OEM
4.1.3.2 OES
4.1.3.3 IAM
4.1.4 By Material
4.1.4.1 Metal Polymer
4.1.4.2 Solid Polymer
4.1.4.3 Fiber-Reinforced Composite
4.1.4.4 Others
4.1.5 By Application
4.1.5.1 Transmission
4.1.5.2 Axle
4.1.5.3 Wheel end
4.1.5.4 Engine
4.1.5.5 Steering column
4.1.5.6 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Advent of advanced raw materials
4.3.2 Drivers
4.3.2.1 Growing automotive industry
4.3.2.2 Increasing focus toward vehicle weight reduction
4.3.2.3 Rising emphasis on vehicular emission reduction
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Vehicle electrification
4.3.3.2 Threat of counterfeit bearings
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Private labeling
4.4 Porter's Five Forces Analysis
4.5 Counterfeit Market Overview
4.6 Package Wheel Bearings
4.6.1 Market Dynamics
4.6.1.1 Accommodation of ABS system in hub units is one of the major trends in the market
4.6.1.2 Increase in vehicle safety is driving the package wheel bearing market
4.6.2 Application
4.6.2.1 Two-wheelers
4.6.2.2 Trucks and buses
4.6.3 Other Similar Products
4.6.4 Market Recommendations
4.7 Technological Impact on Bearing Market
4.7.1 Electric Vehicle Market Overview, by Country
4.7.2 Autonomous Vehicle Market Overview, by Country
Chapter 5. Global Market Size and Forecast
5.1 By Bearing Type
5.1.1 Roller Bearing Market, by Type
5.1.2 Ball Bearing Market, by Type
5.2 By Vehicle Type
5.2.1 Electric Vehicle Bearing Market, by Type
5.3 By Sales Channel
5.4 By Material
5.5 By Application
5.6 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. RoW Market Size and Forecast
Chapter 10. Competitive Landscape
10.1 Market Share Analysis of Key Players
10.2 Product Benchmarking of Key Players
10.3 Strategic Developments of Key Players
10.3.1 Mergers and Acquisitions
10.3.2 Product Developments
10.3.3 Facility Expansions
10.3.4 Other Developments
Chapter 11. Company Profiles
11.1 JTEKT Corporation
11.1.1 Business Overview
11.1.2 Product and Service Offerings
11.1.3 Key Financial Summary
11.1.4 Strategic Growth Plan
11.2 Minebea Mitsumi Inc.
11.3 NSK Ltd.
11.4 NTN Corporation
11.5 Schaeffler AG
11.6 The Timken Company
11.7 AB SKF
11.8 RBC Bearings Inc.
11.9 C&U Group Ltd.
11.10 SNL Bearings Ltd.
11.11 RKB Bearing Industries
11.12 Ortadou Rulman Sanayi ve Tic. A.S. (ORS)
11.13 Iljin Bearing Co. Ltd.
11.14 Cixing Group Co. Ltd.
11.15 Nachi-Fujikoshi Corp.
For more information about this report visit https://www.researchandmarkets.com/r/bs1v3m
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article