Automotive Bearings Market worth XX billion by 2031 – Leading Key Players:ILJIN Co, Ltd, JTEKT Corporation, Nippon Thompson Co

Global Automotive Bearings Market report from Global Insight Services is the single authoritative source of intelligence on Automotive Bearings Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Automotive bearings are bearings that are used in automobiles. These bearings can be found in the wheels, engines, transmissions, and other moving parts of a vehicle. Automotive bearings are designed to withstand the high speeds and loads that are common in automotive applications.

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Key Trends

The global automotive bearings market is primarily driven by the increasing demand for vehicles, especially in the Asia-Pacific and European regions. The rise in vehicle production and sales is expected to increase the demand for automotive bearings during the forecast period. The growth of the automotive industry is also expected to fuel the demand for automotive bearings.

The market is also driven by the increasing demand for fuel-efficient and lightweight vehicles. The rising fuel prices and stringent emission norms are expected to drive the demand for fuel-efficient and lightweight vehicles. This, in turn, is expected to drive the demand for automotive bearings during the forecast period.

Key Drivers

There are several key drivers of the automotive bearings market. Firstly, the increasing production of vehicles globally is resulting in increased demand for automotive bearings.

Secondly, the growing demand for electric vehicles is also driving the market for automotive bearings as these vehicles require bearings with special properties such as high speed and high precision.

Thirdly, the increasing focus on fuel efficiency and emission reduction is resulting in the development of new technologies such as electric power steering and electric turbochargers, which in turn is driving the demand for automotive bearings.

Finally, the increasing trend of vehicle lightweighting is also resulting in increased demand for bearings as lighter materials are being used in the construction of vehicles.

Market Segmentation

The Automotive Bearings Market is segmented by bearings type, vehicle type, distribution channel, and region. On the basis of bearings type, the market is categorized into ball bearing, roller bearing, and others. Depending on vehicle type, it is segregated into passenger car, commercial vehicle, and two-wheeler. OEM and aftermarket are studied under the distribution channel segment. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the world.

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Key Players

The key players in the Automotive Bearings Market are 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 and The Timken Company.

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