Pune, India -- (SBWire) -- 01/30/2018 --Market Research Future published a research report on "Automotive Bearing Market Research Report- Forecast 2022" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Market Scenario
Automotive bearing system is used to enable the rotational and linear motion and also reduces the friction in the vehicles. The specialty of the bearing differs as per the vehicle it is used in such as, heavy vehicles demands bearings to be rigid enough to carry heavy weight and give trouble free and smooth operations. As per trend, ceramic and white metal alloy ball bearings are expected to capture the market for automotive bearing as these are lightweight and will enhance the product quality by reducing the friction and energy consumption during the operations. Moreover, increasing demand for the vehicles and technological advancement are driving the automotive bearing market. The global automotive bearing market is expected to show a growth at CAGR of about 6% from 2016 to 2022.
However, high pricing and forging are main challenges faced by the global market for automotive bearings.
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Industry/ Innovation/ Related News:
Aug, 2017 - Schaeffler India announced merger of its units INA Bearings and LuK India for improving cost and supply-side efficiencies. The key objective of the merger is to combine the strengths and competencies of all three Schaeffler entities here and establish one strong listed Schaeffler entity.
Sep, 2017- Schaeffler significantly expands its standard rolling bearing business with high investments in production capacities for FAG Generation C deep groove ball bearings. This will help to satisfy the high level demand for standard deep groove ball bearings, especially from China and the Asia/Pacific region, and help in meeting the specific requirements of this high-volume business in an optimum way.
Jan, 2013- RKB enhanced its range of WOR bearings. The RKB spherical roller bearings WOR series, with wider outer ring, were developed and engineered to accommodate large angular deflection between mixing drum and driving gear in case of misalignment.
October, 2009- JTEKT Corporation has developed a low-torque ball bearing for use in oil lubrication that improves automotive fuel efficiency. Many oil-lubrication ball bearings are used in the motor-support areas of hybrid vehicle transmissions and the gear-support areas of automotive automatic transmissions, manual transmissions, and continuously variable transmissions.
Jul,2008- Iljin Bearing Co announced the grand opening of its second plant in China. The new wheel bearing plant in Tianjin, China, supplies wheel bearings to Shanghai GM in Shanghai, Chery Automotive in Wuhu and BBDC in Beijing. The facility includes forging and machining operations for production of the company's Gen. 2 and Gen. 3 double-row, angular-contact ball bearings.
Automotive Bearing Market – Competitive Analysis
The Market is witnessing increased competition and is expected to further intensify during the forecast period. The players in the market incorporate acquisition, collaboration, partnership and expansion in order to gain competitive advantage in this market and to maintain their market position.
Technological advancements in the manufacturing of the automotive test equipment and the increasing research and development expenditure by the key players is expected to increase the level of competition in the Automotive Bearing Market.
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Automotive Bearing Market – Segmentation
The Automotive Bearing Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type - Ball Bearings, Roller Bearings, Plain Bearings, Thrust Bearings, and Others
Segmentation by Vehicle Type - 2-Wheeler, Passenger, and Commercial
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis of Global Automotive Bearing Market
Asia-Pacific is the major regions for the automotive bearing market. Asia-Pacific is expected to show significant growth in automotive bearing market. Emerging economies like China, India, are expected to drive the market due to increasing demand for vehicles, increasing individual's disposable income & purchasing power is expected to drive the market for automotive bearing. Developed regions such as North America and Europe will show the static growth for the automotive bearing market.
Key Players
The key players of Global Automotive Bearing Market report include- Schaeffler AG., Jtekt Corporation, NTN Corporation, Iljin Bearing Co., Ltd., Timken Company, Svenska Kullagerfabriken AB, RKB Bearings, Timken Company, ORS Bearings, and CW Bearing.
Target Audience
- Manufacturers of Automotive Bearing
- Traders, distributors, and automotive Bearing suppliers
- Government and research organization
- Investment bankers and M&A Consultants
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Trend for Automotive Bearing Market Increases Demand for Automotive Market : Synopsis , Highlights, Key Findings and Forecast to 2022
Global Automotive Bearing Market Information by Type (Ball Bearings, Roller Bearings, Plain Bearings, Thrust Bearings, and Others), by Vehicle Type (2-Wheeler, Passenger, and Commercial), and by Region - Forecast to 2022