Segmentation
The automotive bearing market can be segmented based on two dynamics for the convenience of the report and enhanced understanding, namely type and vehicle type.
Based on vehicle type, the automotive bearing market can be segmented into 2-wheeler, passenger, and commercial. Passenger vehicles provide much traction to the market.
Regional Analysis:
Geographical analysis of the automotive bearing market includes North America, Europe, Asia Pacific (APAC) and Rest-of-the-World (RoW).
Regional Analysis
North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW) are the key markets for automotive bearings. APAC dominates the global automotive bearing market due to the prolific growth of the automotive industry in the region which generates considerable demand for automotive bearings. Lost cost of production and low labor cost has resulted in the expansion of vehicle manufacturing facilities. Also, the increase in production and sales of vehicles in the region supports the market growth in APAC.
North America market for automotive bearings is a matured one. The OEMs in the region invest heavily in R&D and are focused on the improvement of product quality. Besides, various automotive manufacturers have set up their manufacturing units in Canada and Mexico which are likely to spur the demand for automotive bearings in the region.
Competitive Landscape
Schaeffler AG., Jtekt Corporation, NTN Corporation, Iljin Bearing Co., Ltd., Timken Company, Svenska Kullagerfabriken AB, RKB Bearings, Timken Company, ORS Bearings, CW Bearing, and others are prominent players of the global automotive bearing market that have been profiled in the report.
Industry Updates
In September 2017, Schaeffler announced its standard rolling bearing business plans by integrating high investments in production capacities for FAG Generation C deep groove ball bearings. The decision is to meet the heavy demand for standard deep groove ball bearings, especially from China and the APAC region.
In April 2018, JTEKT Corporation showed its confidence in SONA Group by acquiring the latter’s market share which gives JTEKT a competitive edge in the Indian market.
In 2018, Timken took over ABC Bearings which boosted the global position of Timken’s in tapered roller bearing. It also helped Timken to strengthen its grounds in the Indian market.
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