Automotive Bearing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
- Automotive Aftermarket
Automotive bearings are components which are capable of carrying heavy loads with ease and efficiency. High precision, reliability, durability, and the ability to rotate at high speeds with minimal noise and vibration are the desired characteristics of automotive bearings. Bearings help reduce the friction between the moving parts of the vehicle.
The rapid growth of the automotive industry across the world in the recent years is expected to drive the automotive bearing market during the forecast period. Increase in the average lifespan of vehicles due to the incorporation of fuel-efficient technologies is likely to further boost the automotive bearing market during the forecast period. Increasing efforts being taken in developing lightweight materials in high performance bearings are anticipated to fuel the automotive bearing market in the near future. Development and incorporation of novel sealing technologies by OEMs for sealing the bearings from contamination in order to increase the average lifespan of automotive bearings is expected to further propel the automotive bearing market in the next few years.
Based on type, the automotive bearing market can be segmented into ball bearings, roller bearings, plain bearings, thrust bearings, and others. The roller bearings segment can be further sub-segmented into cylindrical & needle roller bearings, tapered roller bearings, and spherical roller bearings. Cylindrical & needle roller bearings and spherical roller bearings are primarily utilized in gearbox and transmission of vehicles, while the tapered roller bearings are employed primarily in heavy industrial truck and wheel applications with combined radial and axial loads. The ball in the ball bearings performs the rolling function. The remarkable characteristics of ball bearings include low friction, ability to rotate at high speeds and the ability to withstand light to medium load. Ball bearings are primarily used in under–the-hood applications in vehicles.
Plain bearings contain no rolling elements. Plain bearings have the capacity to bear heavy loads and large carrying capacities. Thus, plain bearings are primarily utilized in heavy commercial vehicles. Thrust bearings assist in the support of an axial load and allow for rotation between two parts. The ball bearings segment is expected to expand at a rapid pace during the forecast period owing to its remarkable properties such as high load bearing capacity, strength, wear resistance, and overall performance.
Based on vehicle type, the automotive bearing market can be classified into passenger vehicles and commercial vehicles. The passenger vehicles segment is estimated to expand at a considerable growth rate during the forecast period owing to the increasing production volumes of passenger vehicles.
Based on application, the automotive bearing market can be divided into engine, transmission system, steering system, and air conditioning system. Engine and transmission system segments are projected to expand at a rapid pace since the components of the engine and the transmission system are constantly in motion and undergo continuous wear and tear.
Based on sales channel, the automotive bearing market can be classified into OEM (original equipment manufacturer) and aftermarket. The aftermarket segment is anticipated to expand at a significant growth rate during the forecast period owing to the need for replacement of the bearing due to wear and tear after prolonged usage or the bearings get damaged.
Based on geographical region, the automotive bearing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The automotive bearing market in Asia Pacific is expected to expand at a significant growth rate during the forecast period. This is mainly attributed to the fact that China which ranks first in vehicle production in the world is undertaking tremendous efforts to boost the growth of the automotive industry. Automotive industry in Asia Pacific is seen to expand at a rapid rate due to the presence of well-established manufacturing facilities of top OEMs in few nations of Asia Pacific such as China, Japan and South Korea.
Key players operating in the global automotive bearing market 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.
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