banner
Home / News / Automotive Bearing Market Value to Reach US$ 51.8 Billion by 2031, Transparency Market Research, Inc.
News

Automotive Bearing Market Value to Reach US$ 51.8 Billion by 2031, Transparency Market Research, Inc.

Jul 11, 2023Jul 11, 2023

WILMINGTON, DE / ACCESSWIRE / January 31, 2023 / Transparency Market Research Inc. - According to a TMR study, the global automotive bearing market is expected to grow at a CAGR of 6.2% during the forecast period from 2022 to 2031.

Automotive bearings are components used to transport heavy loads. Product features such as ability to rotate at high speeds at reduced noise and vibration, dependability, high precision, and longevity have fueled the demand for automotive bearings over other products. The different automotive bearings used in end-use industries are ball bearings, plain bearings, and thrust bearings.

Launch of new bearings are helping prominent players in generating higher revenue and in gaining a competitive edge over other players. In October 2021, NSK Limited announced the launch of the first ever 100% bioplastic rolling bearings with a heat resistant cage. The cage can withstand operating temperatures as high as 120 degrees Celsius.

Additionally, well-established players are collaborating with other companies to expand presence and increase revenue share.

Request to Sample PDF of this Strategic Report (Use Corporate Mail ID for Top Priority) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=40037

Key Findings of Market Study

Growing Need to Reduce Carbon Emissions: Governments and authorities across the world focus on reducing carbon emissions and implementing stringent energy regulations toward achieving this goal. The regulations imposed by governments have induced leading automotive manufacturers to increase power and fuel efficiency in automobiles, which is triggering the demand for automotive bearings and propelling the market.

Rise in Passenger Vehicle Production and Sales: Based on vehicle type, the global market has been classified into passenger vehicles, light commercial vehicles, buses & coaches, and heavy trucks. The passenger vehicles segment is projected to account for dominant market share during the forecast period. Increase in production and sales of passenger vehicles globally is expected to fuel the demand for automotive bearings and augment business growth.

Increase in Demand in Engine and Transmission Segments: In terms of application, the global market has been segregated into engine, gearbox, wheel, transmission, and steering. The engine and transmission segments are expected to account for significant share in the next few years. Engine and transmission components are in continuous motion for long periods and undergo wear & tear under heavy load. This is expected to fuel demand for automotive bearings and expand market size.

Automotive Bearing Market - Key Drivers

Continuous expansion in the automotive industry is driving the global automotive bearing market

Increase in adoption of sensor bearings is likely to create business opportunities for prominent players during the forecast period

Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=40037<ype=S

Automotive Bearing Market - Regional Landscape

Asia Pacific is projected to account for dominant market share during the forecast period. Rise in adoption of electric vehicles and the growing automotive industry in countries such as India and China are likely to propel market development in the region in the near future.

Automotive Bearing Market - Key Players

The global market is competitive and has several international and local players. Entry of new players during the forecast period is likely to intensify competition.

Leading market players are investing in R&D to manufacture lightweight automotive bearings. Increase in demand for lightweight bearings in different application is likely to present lucrative business opportunities for companies during the forecast period.

Key players operating in the market are Nippon Thompson Company Limited, NTN Corporation, Federal-Mogul Holdings Limited, The Timken Company, and SNL Bearings Limited.

Ask for References - https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=40037

The global automotive bearings market has been segmented as follows:

Bearing Type

Ball Bearings

Plain Bearings

Thrust Bearings

Others

Vehicle Type

Passenger Vehicles

Light Commercial Vehicles

Buses and Coaches

Heavy Trucks

Application

Engine

Gearbox

Wheel

Transmission

Steering

Distribution Channel

OEMs

Aftermarket

Regions Covered

North America

Asia Pacific

Europe

Middle East and Africa

Latin America

Latest Automotive Industry Reports : -

Europe Cycling Apparel Market Growth Share from 2022 - 2031

Meal Kit Industry Growth from 2022 - 2031

Europe Window Blinds Market Growth Report 2022 - 2031

Ergonomic Chair Market Size & Share Report, 2022-2031

Mineral Sunscreen Market Size, Share | Industry Report, 2022-2031

Equestrian Helmets Market Size & Share Report, 2022 - 2031

Camera Backpack Market Size | Industry Report, 2020-2031

Home Theater Seating Market Growth Share from 2022 - 2031

North America Residential Furnace Industry Growth from 2022 - 2031

Party Supplies Market Growth Report 2022 - 2031

Self-watering Pot Market Size & Share Report, 2022-2031

Surge Protection Devices Market Size, Share | Industry Report, 2022-2031

Hydraulic Lash Adjuster Market Size & Share Report, 2022 - 2031

About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us:

Nikhil SawlaniTransparency Market Research Inc.CORPORATE HEADQUARTER DOWNTOWN,1000 N. West Street,Suite 1200, Wilmington, Delaware 19801 USATel: 1-518-618-1030USA - Canada Toll Free: 866-552-3453Website: https://www.transparencymarketresearch.comBlog: https://tmrblog.comEmail: [email protected]

SOURCE: Transparency Market Research inc.

View source version on accesswire.com: https://www.accesswire.com/737400/Automotive-Bearing-Market-Value-to-Reach-US-518-Billion-by-2031-Transparency-Market-Research-Inc

WILMINGTON, DE / ACCESSWIRE / January 31, 2023 / Transparency Market Research Inc. - automotive bearing market Request to Sample PDF of this Strategic Report (Use Corporate Mail ID for Top Priority) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=40037 Key Findings of Market Study Growing Need to Reduce Carbon Emissions: Rise in Passenger Vehicle Production and Sales: Increase in Demand in Engine and Transmission Segments: Automotive Bearing Market - Key Drivers Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=40037<ype=S Automotive Bearing Market - Regional Landscape Automotive Bearing Market - Key Players Ask for References - https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=40037 Bearing Type Vehicle Type Application Distribution Channel Regions Covered Latest Automotive Industry Reports : - Europe Cycling Apparel Market Growth Share from 2022 - 2031 Meal Kit Industry Growth from 2022 - 2031 Europe Window Blinds Market Growth Report 2022 - 2031 Ergonomic Chair Market Size & Share Report, 2022-2031 Mineral Sunscreen Market Size, Share | Industry Report, 2022-2031 Equestrian Helmets Market Size & Share Report, 2022 - 2031 Camera Backpack Market Size | Industry Report, 2020-2031 Home Theater Seating Market Growth Share from 2022 - 2031 North America Residential Furnace Industry Growth from 2022 - 2031 Party Supplies Market Growth Report 2022 - 2031 Self-watering Pot Market Size & Share Report, 2022-2031 Surge Protection Devices Market Size, Share | Industry Report, 2022-2031 Hydraulic Lash Adjuster Market Size & Share Report, 2022 - 2031 About Transparency Market Research Contact Us: Website Blog Email: SOURCE: