India Automotive Bearing Market Research Report: Forecast (2023-2028)

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India Automotive Bearing Market
2023-2028
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Market Insights
The India Automotive Bearing Market is projected
to grow at a CAGR of around 7.0 during the
forecast period, i.e., 2023-28. The market growth
is predominantly driven by the flourishing
automotive production, sales, and modification of
vehicles, the varying goals to reduce the
vehicles carbon footprint, and alterations to
make it lighter. Besides, the requirement for
lightweight durable bearings for automotive,
along with the increasing preference for personal
mobility, has further elongated the bearings
industry ventures.
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Market Driver
Key Driver Flourishing Automotive Production,
Sales, and Modifications Across the Country
India is a major consumer of automobile vehicles
sales due to the increase in disposable income,
especially in middle-class consumers, resulting
from urbanization, raised living standards, and
the desire to own private vehicles to commute
instead of public transport, specifically after
Covid-19 Pandemic has elevated the automotive
industry in the country. Moreover, multiple
varieties of bearings are required and play a
vital role in automotive functioning. Thus, the
flourishing of the automotive industry has been
driving the automotive bearings industry in India.
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Market Segmentation
By Type Ball Bearing, Roller Bearing, Clutch
Bearing
By Vehicle Two Wheelers, Three Wheeler,
Passenger Vehicle, Commercial Vehicle, Off-the
road
By Demand OEM, Replacement
By Region North, South, West, East), North-East
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