Automotive Bearings Market to Generate $48.41 Billion by 2027 At CAGR of 6.8% | Allied Market Research

Allied Market Research published a report, titled, "Automotive Bearings Market by Bearing Type (Ball Bearing, Roller Bearing, and Others) and Vehicle Type (Passenger Car, Commercial Vehicle, and Two-wheeler), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global automotive bearings industry generated $31.60 billion in 2019, and is estimated to reach $48.41 billion by 2027, growing at a CAGR of 6.8% from 2020 to 2027.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/6122

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

Owing to lockdown restrictions, manufacturing factories have shut down their operations. Moreover, lockdown resulted in the disrupted supply chain, which in turn, created a shortage of raw materials.

Labors have returned to their hometowns with the closedown of manufacturing facilities. Though manufacturing activities resumed post-lockdown, there is a shortage of laborers.

Research and development activities have been stopped due to the shutdown of facilities. However, they would gain traction as facilities begin to operate with full capacity.

𝐓𝐡𝐞 𝐛𝐚𝐥𝐥 𝐛𝐞𝐚𝐫𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on bearings type, the ball bearing segment accounted for the highest share in 2019, contributing to nearly half of the global automotive bearings market, and is projected to maintain its dominance during the forecast period. This is due to product innovations and extensive R&D activities leading to the emergence of different integrated and advanced sensor ball bearing units. However, the roller bearing segment is projected to portray the highest CAGR of 7.3% from 2020 to 2027.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automotive-bearings-market/purchase-options

𝐓𝐡𝐞 𝐩𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐜𝐚𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐥𝐞𝐚𝐝 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on vehicle type, the passenger car segment contributed to the largest market share, holding nearly three-fifths of the total share of the global automotive bearings market in 2019, and will continue to lead throughout the forecast period. This is attributed to higher production of passenger vehicles in comparison to commercial vehicles, rise in the standard of living, and a decline in car loan rates while improved interest rates. However, the two-wheeler segment is expected to witness the fastest CAGR of 7.5% from 2020 to 2027, owing to high adoption rate of antilock braking system (ABS) and a significant role in commercial purposes.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐨𝐟𝐟𝐞𝐫 𝐥𝐮𝐜𝐫𝐚𝐭𝐢𝐯𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬, 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐬𝐭𝐞𝐚𝐝𝐢𝐥𝐲

Based on region, Asia-Pacific accounted for the highest market share with nearly two-fifths of the global automotive bearings market in 2019, and is projected to continue its leadership position in terms of revenue by 2027. Moreover, this region is expected to manifest the highest CAGR of 7.7% from 2020 to 2027. This is due to surge in adoption of fuel-efficient and eco-friendly vehicles, technological developments, and increase in demand for mild hybrid vehicles in the region. However, North America would grow steadily at a CAGR of 5.8% during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/6122

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

ILJIN co., ltd.
JTEKT Corporation
Nippon Thompson Co., Ltd. (IKO International, Inc.)
NSK Ltd.
NTN Corporation
RBC Bearings Incorporated
Schaeffler AG
SKF
THK Co., Ltd.
The Timken Company

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𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 :

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