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Automotive Bearings Market Outlook 2019 | Shows Industry Overview, Size, Share, Remarkable Growth Factors, Types, and Applications Forecast to 2024

Automotive

The “Automotive Bearings Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Automotive Bearings Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Automotive Bearings market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Automotive Bearings Market Are:

  • Federal
  • Mogul Holdings LLC
  • SKF
  • NSK Ltd
  • JTEKT Corp.
  • Minebea Co. Ltd
  • Nachi Fujikoski
  • NTN Corp
  • Rheinmetall Automotive
  • Schaeffler AG
  • SNL Bearings Ltd
  • Timken Co.

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    Market Overview:

  • The global automotive bearings market was valued at USD 53.12 billion in 2018 and is expected to register a CAGR of 4.01%, during the forecast period, 2019-2024.
  • In a traditional hatchback, an average of about 60 bearings are fitted, while the number goes up in the case of sedans and SUVs. Additionally, bearings add significant weight to the vehicle; as a result, OEMs are working continually toward building lighter units.
  • Some of the major factors driving the growth of the market are the enactment of the stringent Environment Protection Agency (EPA) regulations and Corporate Average Fuel Economy (CAFÉ) standards, a focus on lightweight vehicles, the increase in the commercial vehicle demand and sales in the European region, and the rise in automobile production and sales, especially in Asia-Pacific. However, the rise in aluminum prices, especially in the United States, may hinder the growth of the market in the country.
  • Regionally, in 2017, Asia-Pacific dominated the market studied and accounted for 47.21% of the total market. The prime reason for this was the rise in production and sales of automobiles in the region, especially in India, Japan, and Southeast Asian countries.

    Scope of the Report:

  • Bearings are mechanical devices, employed to reduce friction between rotating equipment. The automotive bearings market has been segmented by product and vehicle type.

    Automotive Bearings Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Automotive Bearings market?
    • What are the key market trends impacting the growth of the global Automotive Bearings market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Automotive Bearings market?
    • What are the market opportunities and threats faced by the vendors in the global Automotive Bearings market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Automotive Bearings market?

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    Key Market Trends:

    Rolling Element Bearings Dominated the Market and are Expected to Grow at a Fast Pace

    The global automotive rolling element bearings market was valued at USD 27.23 billion in 2018, and is expected to project a CAGR of 5.39%, during the forecast period.

    Tapered roller, needle roller, spherical roller, and cylindrical/straight roller are the major types of automotive rolling element bearings. These bearings have been widely deployed in vehicle systems, predominantly in the engine, transmission, and wheels (excluding needle rollers for wheel bearings).

    During 2017-2018, major bearing manufacturers, like SKF, NSK, Schaeffler, and JTEKT, announced their investment plans regarding expansion of their rolling element bearings production facilities, to meet the growing demand in the automotive industry. The above-mentioned manufacturers have expanded their rolling element bearing production facilities, majorly in the Asia-Pacific region, and especially in countries like Japan, India, Korea, Vietnam, Malaysia, and China. Tapered and needle roller bearings are identified as the major production plans of the aforementioned players.

    Owing to the growing competition in the automotive rolling bearings market, bearing manufacturers have focused on improving their rolling element bearing products. Thus, in 2018, the automotive industry has seen numerous developments of new rolling element bearings. For instance, in April 2018, Schaeffler developed a new transmission bearing with low friction, known as an angular roller unit (ARU). In March 2018, NSK developed a 2.5-generation high-performance taper-roller hub unit bearing with a hub shaft for vehicles, like pickup trucks, large SUVs, and commercial vehicles.

    Asia-Pacific Dominated the Global Market

    In the automotive bearings market, Asia-Pacific dominated the market and is expected to witness the highest growth rate during the forecast period.

    In the Asia-Pacific region, China dominated the market, followed by Japan and India. The Chinese economy is growing, and the disposable income of middle-class consumers is also increasing. This, in turn, reflects positively on the growing demand for vehicles. Over the past five years, owing to the low production costs in the country, the demand for vehicle production has gone up drastically. Additionally, in 2017, 24,961,948 units of passenger vehicles were sold in China, compared to 24,376,902 units in 2016. The increased sales of the vehicles in the country are expected to give rise to brake system market, creating demand for production.

    However, in 2018, the country witnessed a decline in vehicle sales by 3%, owing to trade tensions and shaky consumer confidence, which hindered the growth of the market. Furthermore, industry experts predict a further decline in vehicles sales in 2019. To overcome the same, the government has unveiled numerous measures to increase sales of cars, which is expected to drive the growth of the market.

    In India, in 2018, vehicle sales declined owing to an uneven monsoon, poor festive demand, and high fuel and insurance costs. However, owing to the government’s Make in India initiative, automotive component manufacturers are investing in the country, by either investing or launching a new product, or through mergers and acquisition. For instance, ABC Bearing Limited is merging with Timken India Limited. This merger will help both the companies to achieve a larger product portfolio, access new domestic and export markets, and increase market share and economies of scale.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Automotive Bearings Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Automotive Bearings .

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    Report Objectives:

    • Analyzing the size of the Automotive Bearings market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Automotive Bearings market.
    • Determining the key dynamics of the Automotive Bearings market.
    • Highlighting significant trends of the Automotive Bearings market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Automotive Bearings market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Automotive Bearings market.

    Detailed TOC of Automotive Bearings Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.4 Market Restraints
    4.5 Industry Attractiveness – Porter’s Five Force Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Product Type
    5.1.1 Plain Bearings
    5.1.2 Rolling Element Bearings
    5.1.3 Ball Bearings
    5.2 Vehicle Type
    5.2.1 Passenger Cars
    5.2.2 Commercial Vehicles
    5.3 Geography
    5.3.1 North America
    5.3.1.1 US
    5.3.1.2 Canada
    5.3.1.3 Rest of North America
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 South Korea
    5.3.3.5 Rest of Asia-Pacific
    5.3.4 Rest of the World
    5.3.4.1 Brazil
    5.3.4.2 South Africa
    5.3.4.3 Other Countries

    6 COMPETITIVE LANDSCAPE
    6.1 Vendor Market Share
    6.2 Mergers & Acquisitions
    6.3 Company Profiles
    6.3.1 Federal-Mogul Holdings LLC
    6.3.2 SKF
    6.3.3 NSK Ltd
    6.3.4 JTEKT Corp.
    6.3.5 Minebea Co. Ltd
    6.3.6 Nachi Fujikoski
    6.3.7 NTN Corp
    6.3.8 Rheinmetall Automotive
    6.3.9 Schaeffler AG
    6.3.10 SNL Bearings Ltd
    6.3.11 Timken Co.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

    8 DISCLAIMER

     

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