Edison, NJ -- (SBWIRE) -- 10/26/2020 -- A new research document is added in HTF MI database of 70 pages, titled as 'Automotive Bearing Market in India 2020' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions and important players/vendors such as Austin Engineering Company Limited, Bimetal Bearings Limited, Menon Bearings Limited, NRB Bearings Limited, Schaeffler India Limited, SKF India Limited, Timken India Limited, Tata Bearings Limited, National Engineering Industries Limited, KCI Bearings (India) Private Limited. The Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2020-2026.
Access sample report @ https://www.htfmarketreport.com/sample-report/2585535-automotive-bearing-market-2
Summary
Automotive production volume in India has increased in recent years aided by regulatory measures undertaken by the government and adoption of advanced technologies. Consequently, the production of automotive bearings in the country is likely to escalate over the next few years.
Companies covered:
Austin Engineering Company Limited, Bimetal Bearings Limited, Menon Bearings Limited, NRB Bearings Limited, Schaeffler India Limited, SKF India Limited, Timken India Limited, Tata Bearings Limited, National Engineering Industries Limited, KCI Bearings (India) Private Limited
View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2585535-automotive-bearing-market-2
Market insights:
In 2017, the government allowed 100% FDI for manufacturing automotive bearings, under the automatic route. In 2018, GST on automotive bearing products were slashed. These factors contributed to the growth of the automotive bearing market in India. In 2019, the market was valued at INR 70 Bn, and is anticipated to reach INR 156.80 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~18.01%, during the 2020-2024 period. Government policies like Make in India, Automotive Mission Plan, and National Automotive Testing and R&D Infrastructure Project (NATRIP) have also had positive impact on the market. Increase in the production volume of vehicles in the country and the enforcement of the Bharat Stage-VI (BS-VI) norms have led to the soaring demand for automotive bearings. With BS-VI becoming mandatory from 2020, the automotive bearing market is headed for growth with a multiplier effect, likely to happen as the demand for new vehicles and engines picks up. Nonetheless, increase in the cost of raw materials, decline in consumers' overall consumption level, and the presence of counterfeit products in the market are impeding market growth.
Competition analysis:
The automotive bearing market is highly fragmented with small players like Bimetal Bearings, SKF India and NRB Bearings. Players in the market are mostly of identical workforce volume and financial strength. However, a latent rivalry exists among the players in the market. With increased demand for electric vehicles comprising light-weight bearings, almost every company is aiming to use advanced raw materials like alloys of different grades and ceramics in the production of bearings, and are trying to adopt advanced forging techniques in their production processes to meet the changing requirements of consumers.
Companies covered:
- Austin Engineering Company Limited
- Bimetal Bearings Limited
- Menon Bearings Limited
- NRB Bearings Limited
- Schaeffler India Limited
- SKF India Limited
- Timken India Limited
- Tata Bearings Limited
- National Engineering Industries Limited
- KCI Bearings (India) Private Limited
Get Customization in the Report, Enquire Now @ https://www.htfmarketreport.com/enquiry-before-buy/2585535-automotive-bearing-market-2
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
3.2. Major global players using AI-based manufacturing process
Chapter 4: India artificial intelligence market overview
4.1. India artificial intelligence market overview
4.1.1. India artificial in
....Continued
Buy this report @ https://www.htfmarketreport.com/buy-now?format=1&report=2585535
It's vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.
Contact US :
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com
Connect with us at LinkedIn | Facebook | Twitter