Press release
Automotive Connecting Rod Bearing Market is exhibited steady growth at a CAGR of 12.8% during the forecast period from 2022 to 2032
Automotive Connecting Rod Bearing Market
The global automotive connecting rod bearing market size is expected to reach US$ 189.2 Million in 2022 and exhibit steady growth at a CAGR of 12.8% during the forecast period from 2022 to 2032.
As per FMI, the automotive connecting rod bearing market is anticipated to be valued at US$ 493.7 Million in 2032.
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According to technical design consultants, the automotive connecting rod bearing should be manufactured and designed with the utmost quality and precision, as even a small flaw can result in a big loss of automobile industry. Hence the automotive connecting rods bearings are produced with the light weighting components which improves the overall mechanical efficiency of the engine.
Automotive Connecting Rod Bearing Market: Dynamics
The automotive connecting rod bearing market has a scope in the automotive and automobile industry as the use of new advanced materials has increased the lifespan of the connecting rod bearings which has made the engine parts and components more reliable. The increased efficiency and the strength of the automotive connecting rod bearing, has led to the more innovative initiatives in the market which will be a prominent driver for the connecting rod bearing owing to the overall global growth of the automotive industry. The present day consumers with high standard of living has fascinated the quality more towards the performance-oriented components which can be a prominent driver. Reliability and durability will act as major factors for the overall growth of the automotive connecting rod bearing markets in the coming future.
The rise in the customer demand of vehicles has resulted in the increased willingness to manufacture and design more automotive connecting rod bearing with advanced technological features. The prominent growth factor for the automotive connecting rod bearing is the increase in the vehicle demand and internal combustion engine in the emerging countries. Being as the key engine component the use of the light weighting components helps to improve the overall efficiency of the engine. Regular oil and oil filter changes reduces the wear of the bearings which gradually increases the estimated aftermarket sales with a prominent pace over the forecast period in the global market. This increase in the vehicle fleet has led to the traction for the aftermarket which has excited the growth of the automotive connecting rod bearing market.
The use of electronic systems for motion can possess a threat to automotive connecting rod bearing.
Automotive Connecting Rod Bearing Market: Segmentation
The automotive connecting rod bearing market can be segmented by sales channel, material type and vehicle type.
By sales channels, the automotive connecting rod bearing market can be segmented as:
Original Equipment Manufacturers
Aftermarket
By material type, the automotive connecting rod bearing market can be segmented as:
Aluminum
Stainless steel
High-carbon steel
Babbitt
By vehicle type, the automotive connecting rod bearing market can be segmented as:
Heavy Commercial Vehicles
Light Commercial Vehicles
Hybrid Electric Vehicles
Two Wheelers
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Automotive Connecting Rod Bearing Market: Regional Outlook
Automotive connecting rod bearing is expected to see a rapid growth in all the developed and developing countries in the coming future. Despite the increasing potential and the high living standard in North America, Europe and Asia Pacific region have a high potential for spending more due to the inventive growth of the automotive industry in these regions which has generated tremendous demand for the automotive connecting rod bearings. Advanced technological features has resulted in the expansion of automotive connecting rod bearing facilities in all vehicle types.
The United States of America, Japan and Germany are considered as the mature markets for automotive connecting rod bearing which have seen high demand for vehicle customization, therefore high sales of custom auto components such as automotive connecting rod bearings have witnessed in the aftermarket. The increase in the efficiency and the sales of vehicles in the developing markets has also seen an increased trend in the APAC region.
Developing markets in the Asia Pacific region, especially India, China and Russia will play a crucial role in the expansion of the automotive connecting rod bearing market in the near future.
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Automotive Connecting Rod Bearing Market: Market Participants
Examples of some of the market participants in the global automotive connecting rod bearing market, identified across the value chain include:
NSK Ltd.
NTN Bearing Corporation
Schaeffler
Aisin Seiki
SKF
Timken Company
MinebeaMitsumi Inc.
BNL Bearings
ORS Bearings
CW Bearing
IMB Bearings
KCI Bearings (India) Pvt. Ltd.
FBJ Corporation
Howon Autopart Co. Ltd
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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