India Bearings Market to Witness Robust Expansion Throughout the Forecast Period 2022 to 2027 | SKF India Ltd, Schaeffle, Timken India Limited, NRB Bearings Limited

Astute Analytica published a new report on the India Bearings Market. The global markets report analysis of the growth momentum and revenue inflows in this industry, including the impact of COVID-19.

The India bearings market size was valued at US$ 1,772.6 Mn in 2021 and is projected to expand up to US$ 3,374.4 Mn by the end of 2027. The market is registering growth at a CAGR of 10.9% during the forecast period 2022-2027.

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The market study report presents important factors that positively and negatively affect the growth of this vertical in order to suggest stakeholders in making decisions. In addition, the report offers data on the past, present, and future companies' scenarios. The report also contains key segments and leading players.

The automotive sector is continuously working to develop an integrated approach to a cleaner environment and lower carbon emissions. In order to minimize fuel consumption, automakers are creating more efficient engines and drive trains, and a wide range of sophisticated emissions-control equipment is placing cleaner cars on the road globally.

It is forecast that clear improvements in air quality can notice when more new automobiles with contemporary exhaust emissions performance hit the road. As older, more polluting cars replace the new ones. Thus, this trend will continue to lead to the growth of the automotive sector.

Impact Analysis of COVID-19
The COVID-19 pandemic wreaked havoc on the worldwide automotive industry quickly and severely. Chinese parts shipments halted, large-scale manufacturing disruptions were occurring across Europe, and assembly factories in the United States had to close.

This has put a lot of pressure on a sector already dealing with a worldwide demand downturn due to decreased consumer needs. According to data from the International Organization of Motor Vehicle Manufacturers, the commercial vehicle sector in out of 40 major nations, 17 nations, including Belgium, Canada, Germany, Japan, etc., saw negative growth of 67.5% during the COVID-19 pandemic.

Regional Insights

Product Segment of the India Bearing Market is sub-segmented into:
Ball Bearings
Deep Groove Ball Bearings
Self-Aligning Ball Bearings
Angular-Contact Ball Bearings
Thrust Ball Bearings

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Roller Bearings
Tapered Roller Bearings
Spherical Roller Bearings
Cylindrical Roller Bearings
Needle Roller Bearings
Mounted bearing
Linear bearings
Slide bearings
Jewel bearings
Frictionless bearings

Size Segment of the India Bearing Market is sub-segmented into:
30 to 40 mm
41 to 50 mm
51 to 60 mm
61 to 70 mm
70 mm & above

Material Segment of the India Bearing Market is sub-segmented into:
Specialty Steel Alloys
Plastics
Ceramics

Application Segment of the India Bearing Market is sub-segmented into:
Automotive
OEM
Aftermarket
Aerospace
Agriculture
Machine Tools
Mining
Others

Key Players Insights
The key players in the India bearing market are SKF India Ltd, Schaeffle, Timken India Limited, NRB Bearings Limited, National Engineering Industries Ltd. and JTEKT India Limited among others.

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This release was published on openPR.