Automotive Cam Followers Market Size Estimated to Observe Significant Growth by 2024
Sarasota, FL -- (SBWIRE) -- 08/11/2017 -- Global Automotive Cam Followers Market: Overview
Cam followers act as a very important part in the automotive engine management systems. Cam followers are a special type of bearings that follow the cam lobe profiles. They play a crucial role in guarantying the engine's proper valve timing. There are several types of cam followers present in the automotive industry such as knife edge followers, flat or mushroom followers, roller followers, and flat faced followers.
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The global market for the automotive cam followers is fragmented into product type, material type, vehicle type, and sales channel. On the basis of the product type, the global market is segregated into roller cam follower, flat cam follower, and needle cam follower. Based on the material type, the market is categorized into stainless steel, carbon steel, chromium plated, and others. Depending on the vehicle type, the market for automotive cam followers is divided into passenger cars, two-wheelers, and commercial vehicles. According to the sales channel, the market is bifurcated into aftermarket and OEM.
The vehicle manufacturers are being pressurized by the international organizations which include the EPA for reducing the vehicle emissions; this, in turn, is driving the advancements that are being made in the engines. Other factors that will contribute to the growth of the automotive cam followers market is the rise in the disposable income, increasing standards of living, the decrease in the rates of tax especially in the emerging nations are factors that will increase the sales of the automobiles which in turn will increase the sales of the automotive cam followers market. The investments that are being made for the development of the products is another factor that will trigger the market growth. There are factors that are restraining the growth of the market include the uncertainties in the economic conditions in particular regions, the high cost that is required for the technological developments, increased product costs.
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The region wise segmentation of the global automotive cam followers market is diversified into North America, Asia-Pacific, Western Europe, Eastern Europe, the Middle East and Africa, and Latin America. In terms of market share, the region that anticipates dominating the global automotive cam follower market is Asia Pacific region. The factor that this region leads in the production of automobiles gives rise to the increased demand for automotive cam followers, thus enabling in retaining its dominance in the coming years. The developing nations China, Japan, India, and South Korea are the major contributors in the automotive market which are also the major contributors to the automotive cam followers market in Asia Pacific region. Europe is expected to be the next robust market for the automotive cam followers owing to the presence of the significant key technology providers.
Market Competitive Players
The key market players that are involved in the automotive cam followers market include Carter Manufacturing Ltd., AB SKF, National Precision Bearing Group, Schaeffler Technologies AG & Co. KG, Federal-Mogul LLC, RBC Bearings Inc., Delphi Automotive LLP, THK Co., Ltd., and Crower Cams & Equipment Company, Inc.
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Global Automotive Cam Followers Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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