DALLAS, July 3, 2015 /PRNewswire/ --
The report "Automotive Bearing Market by Bearing type (Ball bearing, Roller bearing and others), by Application, by Vehicle type (PC, LCV, HCV and Two-wheelers), by Region and By Aftermarket (Region, Vehicle type and Application) - Trends & Forecasts to 2020", published by MarketsandMarkets, The global Automotive Bearing Market, in terms of value, is projected to grow at 186.4 Billion USD and CAGR of 5.8% from 2015 to 2020
Browse 87 market data Tables and 71 Figures spread through 240 Pages and in-depth TOC on "Automotive Bearing Market"
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This report classifies and defines the Global Bearing market in terms of volume & value. This report provides comprehensive analysis and insights on the global bearing market for both - qualitative and quantitative. It also highlights the potential growth opportunities in the coming years, as well as it covers review of the - market drivers, restraints, growth indicators, challenges, legislation trends, market dynamics, competitive landscape, and other key aspects related with global bearing market. This report also has a section on off-highway vehicle bearing market outlook and what steps are taken by the bearing manufacturers and associations to counter their counterfeit market.
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Asia-Pacific: The largest and fastest growing in automobile bearing market
The automotive industry in Asia-Pacific region is on positive growth trend, the automobile production has witnessed a CAGR of 7.94% from 2008 to 2013. This market is livelier than the matured Europe and North America due to the cost advantage and substantial population. The region has emerged as a hub for automotive production, OEMs, and suppliers have set up production facilities to cater to the growing demand of the market, which in turn has propelled the demand for automotives in this region. In the countries like China and India provides an encouraging government policies favoring automotive industry. The new government in India has come up with the MAKE IN INDIA campaign which allows 100% FDI in the auto sector which is a boost for the foreign as well as the local automotive manufactures. OEMs in this region are not only catering to their local demands, but are also serving developed markets as well through exports. This helps them to remain globally competitive.
North America: Stable demand for automotive bearings
The North American region is dominated by domestic OEMs such as Ford Motors Co., General Motors Co., and Fiat-Chrysler Automotive, along with established European and Japanese OEMs. From the 3 countries, the U.S. alone has 32 manufacturing facilities dedicated to vehicle production which produce more than 5 million vehicles. In 2013, the U.S. witnessed a 29% increase in sales year-over-year from 2012 reaching to 7.5 Million vehicle sales. Thus, the growing market reflects increasing opportunities for bearing manufactures as well as other auto parts manufactures.
Europe: Slowly reviving market
The European automotive industry is a mature industry. The region is home for many dominant OEMs in automotive sector such as BMW AG, Daimler AG, Fiat and PSA/Peugeot-Citroen, and Volkswagen Group. Europe has witnessed a slump in production owing to the economic debt crisis and increasing competition from emerging markets such as Asia-Oceania and RoW. The European market is recovering from crisis which has led to the growth in the production levels of passenger cars, light commercial vehicles, and heavy commercial vehicles, which is creating a demand for bearings in this region.
The report covers the bearing market in terms of volume & value. The market size in terms of volume is provided from 2013 to 2020 in units, whereas the value of the market is provided in $million. The Automotive Bearing Market is broadly classified by geography (Asia-Pacific, Europe, North America, and ROW), by vehicle type (PC, LCV, HCV & Two-Wheelers), by bearing type (Roller bearing, Ball bearing and others), by Aftermarket (by region, by vehicle type and by application).
The key players in this market have also been identified and profiled.
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