How is Need for Light Weight Vehicles Driving Automotive Bearing Market? Top Key Players are NSK, Schaeffler, The Timken Company, AB SKF, RBC Bearings, Cixing Group Co., Ltd.

The production of automobiles all across the globe is rising rapidly, owing to the increasing consumer base, rising disposable income of people, and strong economic growth in emerging economies. In addition to this, automobile manufacturers are increasingly focusing on reducing the weight of vehicles in order to increase their efficiency. Owing to this, the demand for advanced automotive parts, including bearings, which are less heavy than their conventional counterparts. All parts that move in a vehicle need bearings in order to function. Automotive bearings improve the performance of vehicles, reduce friction, and bear heavy loads. Therefore, owing to the rising production of vehicles is leading to the increasing need for bearings.

Global Automotive Bearing Market Key Players are:
1- NSK
2- Schaeffler
3- The Timken Company
4- AB SKF
5- RBC Bearings
6- Cixing Group Co., Ltd.

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Automobile manufacturers are making use of advanced bearings particularly in sport utility vehicles and modern cars, as they can considerably decrease the weight of automobiles. These advanced automotive bearings have high stiffness and durability and are light in weight, owing to the fact that lightweight raw materials are used for their manufacturing. Ascribed to all these factors, the global automotive bearings market is predicted to reach a value of $53.3 billion by 2025, from $33.4 billion in 2018, growing at a 6.9% CAGR during the forecast period (2019-2025).

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Different sales channels for automotive bearings are independent aftermarket (IAM), original equipment supplier (OES), and original equipment manufacturer (OEM). The largest sales of automotive bearings done through OEM sales channel in the past. Asia-Pacific emerged as the largest automotive bearing market instead of North America. In the region, China is the major automotive bearings industry, which is ascribed to the surging demand for automobiles in the country. Moreover, the exports of small-sized and low-end bearings is considerably leading to their growing demand in the country.

GLOBAL AUTOMOTIVE BEARING MARKET
o By Bearing Type - Roller Bearing (Tapered Roller Bearing, Cylindrical Roller Bearing, Spherical Roller Bearing, Needle Roller Bearing, Thrust Roller Bearing), Ball Bearing (Deep-Groove Ball Bearing, Angular Contact Ball Bearing, Thrust Ball Bearing, Self-Aligning Ball Bearing), and Plain Bearing
o By Vehicle Type - Two-wheeler, Passenger car, Commercial vehicle, and Electric vehicle (Two-wheeler, Passenger car, Commercial vehicle)
o By Sales Channel - Original Equipment Manufacturer (OEM), Original Equipment Supplier (OES), and Independent Aftermarket (IAM)
o By Material - Metal Polymer, Solid Polymer, Fiber-Reinforced Composite, and Others
o By Application - Transmission, Axle, Wheel End, Engine, and Others
o By Region -North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW)

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