Automotive Roller Bearing Market Estimated to Record Highest CAGR by 2027

Automotive roller bearings are used for supporting rotating shafts in mechanical equipment. Automotive roller bearings are simple tools which can be precision manufactured in mass production quantities. They are generally used as an alternative of ball bearings as they can support heavier radial loads. In general applications, there are either one or two roller bearings supporting a rotating shaft. Automotive roller bearings are manufactured in different configurations and sizes, are relatively inexpensive and require very little maintenance. Moreover, the size and type of the bearings depend upon the type of vehicle and the amount of load to be carried out. There are numerous types of roller bearings available in market including cylindrical, spherical, tapered and cam follower roller bearing. With advancement in technology, manufacturers are focusing on improving the quality of the material used for manufacturing roller bearings by using cleaner steel materials. Moreover, focus on increasing the load bearing capacity of automotive roller bearings has also increased significantly in the past years. With increasing focus on designing compact vehicles the space constraint has increased considerably, owing to this manufacturers are focusing on designing compact bearings with improved performance characteristics.

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Automotive Roller Bearing Market: Dynamics

Vehicle production is anticipated to increase over the coming years. With advancing technology, demand of improved performance vehicles are anticipated to increase over the time. Roller bearings provide this functionality of noiseless operation of rotating elements of the vehicle. Moreover, as the manufacturers are focusing on increasing their focus on manufacturing better quality roller bearings by using cleaner steel quality. Furthermore, manufacturers are also focusing on the deigning compact roller bearings which could have better functionality. This will increase the demand of roller bearings for multiple automotive applications.

Automotive roller Bearings also have distinct advantage over the sliding bearing as they are internationally standardized, interchangeable and readily obtainable. Furthermore, they are easy to lubricate and can be used for extreme temperature conditions. All such characteristics of the roller bearings will further increase the demand of automotive roller bearings in the coming years. Furthermore, as the average age of the vehicles is increasing, the demand of repair and maintenance services is anticipated to increase, this will in turn increase the demand of automotive roller bearings in the coming years.

Counterfeit equipment manufacturers pose a great threat to the business of the Tier 1 suppliers in the aftermarket. This has a negative effect on the revenue stream of many key players in the market. Furthermore, increasing raw material prices across the globe puts a pressure on the manufacturers, volatility in the material prices can affect the investment in the automotive roller bearing market. With increasing advancement in the technology, the life of roller bearings has increased considerably over the years. This has reduced the replacement rate considerably over the years, affecting the demand of the automotive roller bearings in the coming years.

Automotive Roller Bearing Market: Segmentation

On the basis of the bearing type, automotive roller bearing market can be segmented into:-
Cylindrical Roller Bearing
Tapered Roller Bearings
Needle Roller Bearings
Cam Follower Roller Bearings
Spherical Roller Bearings

On the basis of the vehicle type, automotive roller bearing market can be segmented into:-
Passenger Car
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)

On the basis of the sales channel, automotive roller bearing market can be segmented into:-
Original Equipment Manufacturer (OEM)
Aftermarket

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Automotive Roller Bearing Market: Regional Outlook

The automotive roller bearing market is anticipated to augment considerably in Asia-Pacific region in the coming years. This can be attributed to the increasing vehicle production and vehicle parc in the various countries of Asia Pacific such as China and India. The North American market is driven by the presence of numerous vehicle manufacturers which create opportunity for the bearing manufacturers to expand their foothold in the market.

Automotive Roller Bearing Market: Key Participants

SNL Bearings Ltd.
Wafangdian Bearing Group Corp
RBC Bearings
CW Bearing
Iljin Bearing Co., Ltd.
NTN Corporation
Svenska Kullagerfabriken AB
Timken Company
NSK Ltd.
C&U Bearing
Jtekt Corporation
Nachi Fujikoshi Corp.

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This release was published on openPR.