Title: Automotive Bearing Market Analysis and Industry Outlook, 2015 – 2022
1Bearing Market Global Industry Analysis Report,
Share, Growth, Price Trends and Forecast, 2022
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2Key Insights from Bearing Market
- This product is an essential mechanical component
for proper and smooth running of vehicles and
machineries. - The industrial heavy machinery sector is the
largest end user market, followed by automobile
sector which cant run without this product. - Asia Pacific market was USD 36 billion in 2014
and is projected to gain USD 68 billion by 2022
with a CAGR of 8 between years 2015-2022. - Substantial growth is expected in this market
because of high requirement for tapered roller
components in wheels, gearboxes and journal
applications along with ceramic coated ones used
in traction-motor. - It has a rising growth with approximately 42 of
the overall share in 2014 and is expected to
enjoy 78 in the coming year.
3 Continued...
- The market trends seem to be promising in future.
Automotive bearing market is projected to get
significant gains with projection of USD 71
billion at a CAGR of 7.3. - Machineries used for agriculture are also
estimated to contribute in the elevation of this
market. But yes, it is worth to notice the
importance of the roller variety. - It is anticipated that Europe will achieve USD 32
billion by 2022 which was USD 18 billion earlier
in 2014. - One more example of rising market for this
product is North America which is expected to get
USD 25 billion by 2022.
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6360 Analysis
- Product Analysis
- Increase in the demand for high performance
bearings have led manufacturers to integrate
advanced sensors units in the bearings market
products. The sensor units help in assisting
digital monitoring of axial movement, rotation
speed, acceleration, deceleration and load
carrying capacity. - Regional Analysis
- Growth in the automotive and industrial machinery
production, coupled with attractive China
bearings market share will be responsible for
growth across the region. - Competitive Market Share
- Bearings market players include Timken, Brammer
PLC, NSK Global, Daido Metal Company Limited,
SKF, Minebea Company Limited, Schaeffler Group,
JTEKT and NTN Corporation, among others. In order
to curtail the distribution of counterfeit
products, companies are participating in
investigation programs such as high-profile raids.
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