Global Automotive Mounted Bearing Market, By Product Type (Ball Bearings, Roller Bearings), Equipment Type (Ball Mill Drives, Fan and Blowers, Gearbox and Transmission, Conveyors, Crushers, Mixer Drives, Others), Sales Channel (Original Equipment Manufacturers, Aftermarket), Housing Type (Plummer Block, Flanged Block, Take-Up Block, Others), Housing Material (Cast, Steel, Stainless Steel, Cast Iron, Composites, Others) – Industry Trends and Forecast to 2029.
Automotive Mounted Bearing Market Analysis and Size
The automotive mounted bearings are in high demands across transportation and automation services across the globe. The automotive bearigs are readiy being used suring the gear transmisions, shaft support and others. By utilizing the strength of each of the bearings, it increases the driving performance and safety of the automotive vehicles. The rising sales of electric and passenger vehicles segment is also the factor boosting the growth of the market over the forecasted period.
Global automotive mounted bearing market was valued at USD 14,903.20 million in 2021 and is expected to reach USD 22356.58 million by 2029, registering a CAGR of 5.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production and sales, and pestle analysis.
Automotive Mounted Bearing Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Ball Bearings, Roller Bearings), Equipment Type (Ball Mill Drives, Fan and Blowers, Gearbox and Transmission, Conveyors, Crushers, Mixer Drives, Others), Sales Channel (Original Equipment Manufacturers, Aftermarket), Housing Type (Plummer Block, Flanged Block, Take-Up Block, Others), Housing Material (Cast, Steel, Stainless Steel, Cast Iron, Composites, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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ABB (Switzerland), THE TIMKEN COMPANY (U.S.), NSK Ltd. (Japan), Schaeffler AG (Germany), NTN Corporation (Japan), Regal Rexnord Corporation (U.S.), P.T. International (U.S.), Jones Bearing Company. (U.S.), ASAHI SEIKO CO., LTD. (Japan), JTEKT Corporation. (Japan), Spyraflo Bearings. (U.S.), Baart Industrial Group. (U.S.), RBI Bearing (Canada), Triangle Manufacturing Company, Inc. (U.S.), Altra Industrial Motion (U.S.)
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Market Opportunities
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Market Definition
The automotive mounted bearing is a machine element that constrains relative motion to only desired motion and reduces friction between moving parts. They are the vital parts in automobiles, responsible for smooth and effective running of the vehicles.
Global Automotive Mounted Bearing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Surging Usage across Automobile Sector
The use of automotive mounted bearings in the automotive sector is the primary factor driving the growth if the market over the forecasted period. The rise in the demands of the automotive mounted bearings is due to the enhanced properties such as highly-efficient flow, smooth running of the vehicles and enhanced capabilities of the product are the factors responsible for the increase in the sales of the product and, ultimately, driving the growth of the market over the forecasted period.
- Regulations and rising demands for vehicle weight reduction
Moreover, the favorable initiatives by government associated with environmental regulations to increase demand for automotive mounted bearings, will further extend profitable opportunities to the market players in the forecast period. The European Commission and other federal government agencies create new laws and regulations, such as the Eco-product Certification Scheme (ECS). These regulations guarantee low or no harmful compound emissions and a green and sustainable environment. Moreover, the increasing concerns for the vehicular emissions have raised the necessity of reducing vehicle weight. All these parameter and regulations are creating significant growth opportunities for the market over the forecasted period.
Opportunities
- Rise in automobile production and sales
The advancements in the automotive sector are estimated to generate lucrative opportunities for the market. Rise in the production of automobiles and transportation services across the globe and the sales of electric vehicles have led to the increase in the sales of the vehicles with enhanced efficiency and other features. The automotive mounted bearings are thus in greater demands for the smooth and efficient working of vehicles. Moreover, the growth in funding in the research and development by major players are also estimated to offer growth prospects to the market over the forecast period.
Restraints/Challenges
- Fluctuating and High Costs of Raw Materials
One of the barriers to market expansion is the fluctuating raw materials costs associated with building automotive bearings. The high cost associated with manufacturing and production further increases the overall cost of mounted bearings, hindering market growth.
This automotive mounted bearing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growth, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive mounted bearing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Automotive Mounted Bearing Market
The coronavirus outbreak is projected to hugely impact the automotive mounted bearing market. the automotive mounted bearings market’s manufacturing units have been shut down due to the restrictions during the lockdown generated amidst pandemic. Although the unavailability of skilled professionals has affected the market, the market is projected to show growth in the manufacturing and production units during the post-pandemic era due to the upliftment of the restrictions post lockdown.
Recent Developments
- In 2021, SKF launched a new line of spherical roller bearings in North America. These bearings are specifically designed to increase uptime and lower production costs. Their application in slab, and bloom further helps reduce environmental impact during continuous casting operations.
Global Automotive Mounted Bearing Market Scope
The automotive mounted bearing market is segmented on the basis of product type, equipment type, sales channel, housing type and housing material. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Ball Bearings
- Roller Bearings
Equipment Type
- Ball Mill Drives
- Fan and Blowers
- Gearbox and Transmission
- Conveyors
- Crushers
- Mixer Drives
- Others
Sales Channel
- Original Equipment Manufacturers
- Aftermarket
Housing Type
- Plummer Block
- Flanged Block
- Take-Up Block
- Others
Housing Material
- Cast
- Steel
- Stainless Steel
- Cast Iron
- Composites
- Others
Automotive Mounted Bearing Market Regional Analysis/Insights
The automotive mounted bearing market is analyzed and market size insights and trends are provided by product type, equipment type, sales channel, housing type and housing material as referenced above.
The countries covered in the automotive mounted bearing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the automotive mounted bearing market because of the rapid expansion of machinery and the rise in the motor vehicle production within the region.
Europe is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing demands of the product within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Mounted Bearing Market Share Analysis
The automotive mounted bearing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive mounted bearing market.
Some of the major players operating in the automotive mounted bearing market are
- ABB (Switzerland)
- THE TIMKEN COMPANY (U.S.)
- NSK Ltd. (Japan)
- Schaeffler AG (Germany)
- NTN Corporation (Japan)
- Regal Rexnord Corporation (U.S.)
- P.T. International (U.S.)
- Jones Bearing Company. (U.S.)
- ASAHI SEIKO CO., LTD. (Japan)
- JTEKT Corporation. (Japan)
- Spyraflo Bearings. (U.S.)
- Baart Industrial Group. (U.S.)
- RBI Bearing (Canada)
- Triangle Manufacturing Company, Inc. (U.S.)
- Altra Industrial Motion (U.S.)
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