Automotive Bearings Market 2021 Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2027

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Market Research Report
EXCLUSIVE EDITION
Global Automotive Bearings Market 2021 Industry
Size, Regions, Emerging Trends, Growth Insights,
Opportunities, and Forecast By 2027
Global Industry Analysis, Forecast and Trends,
2022-2030
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Automotive Bearings Market
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Automotive Bearings Market 2021 Industry Size,
Regions, Emerging Trends, Growth Insights,
Opportunities, and Forecast By 2027
Global Automotive Bearings Market by Product
(Plain Bearings, Rolling Element Bearings, Ball
Bearings, and Fluid Bearings), by Bearing Type,
by Material (Alloy, Metal), by Vehicle Type, by
Distribution Channel, by Region Global Forecast
to 2027 Description The global automotive
bearings market size is expected to grow USD 48.1
billion by 2027 from USD 34.1 billion in 2021, at
a CAGR of 5.9 from 2021 to 2027. Bearings are
mechanical devices that reduce friction between
rotating equipment. In a traditional hatchback,
an average number of 60 bearings are fitted,
while there is an increase in bearing in the case
of sedans and SUVs. Moreover, bearings add
significant weight to the vehicle as a result,
OEMs are working continually toward building
lighter units. Some of the major factors driving
the market's growth are enacting the stringent
Corporate Average Fuel Economy standards,
Environment Protection Agency regulations
increase in the commercial vehicle demand and
sales in the European region, and the rise in
automobile production and sales, especially in
Asia-Pacific. However, the increase in aluminum
prices, especially in the United States, may
hinder the market's growth, as the United States
is one of the major automobile manufacturing hubs.
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CAFÉ standards and EPA policies to cut down
automobile emissions and increase fuel efficiency
are driving the automakers to reduce the weight
of the automobile by employing light-weight
materials in the manufacturing of auto parts.
Subsequently, using light-weight bearings in
vehicles will be a significant driver for the
market studied in the automotive sector.
However, rising raw material prices of aluminum
as well as steel and increasing lifespan of
automotive bearings are acting as major
hindrances for the growth of themarket
studied. Request Sample Copy of this Report
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utomotive-bearings-market-will-reach-usd-23-8-bill
ion-by-2025 Global Automotive Bearings Market
Dynamics Drivers Increasing Vehicle Sales SUVs
contributed considerably to the automotive
industry's strong performance, with China, North
America, and Europe accounting for the largest
share. The sub-compact was the most popular
segment in Asia-Pacific. At the same time,
city-cars secured the largest market share in
Japan, showcasing that there is still scope for
the SUV to grow as its popularity spreads in the
region. In China, sales continued to rise,
irrespective of sales tax increase on small
cars, owing to the economic growth driven by
positive domestic consumption, investment, and
exports. The vehicle market is expected to
continue to grow moderately this year, despite a
further tax increase on small cars in January
2018. In India, the automotive industry has
witnessed strong growth from the past few years,
with a consistent rise in passenger cars and
commercial vehicles. Sales Factors such as a rise
in middle-class income and a young population
are likely to strengthen the industry's growth
further.
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Restraints Rise in Raw Material Prices Base
metal prices have been increasing due to the
looming trade war between the United States and
the rest of the world. The imposition of tariffs
on imports from the US allies (including the
European Union, Mexico, and Canada) on aluminum
(10) and steel (25) is expected to increase the
domestic aluminum prices. Raw material prices are
near a six-year high, as automakers face
difficulties due to volatility in raw material
prices, such as steel, aluminum, and steel. With
the implementation of stringent emission norms,
the demand for technologically advanced and
light-weight bearings has been growing, which is
expected to increase the demand for bearings and
result in a high cost of manufacturing. Opportunit
ies Increasing Demand and Penetration for
Electric Vehicles Governments across the world
are pushing the electric vehicle (EV) envelope to
reduce the rising pollution from fuel-powered
vehicles. China sold half a million EVs in 2016,
has set out its own roadmap to completely make
its transportation electric by 2030. By 2040,
nearly 54 of new car sales and 33 of the global
car fleet are expected to be electric. The
European government has started projects and
formulated various policies, for building the
charging points across the region, primarily to
meet the sales of electric vehicles. Scope of
the Report The study categorizes the global
automotive bearings market based on product,
bearing type, material, vehicle type,
distribution channel, and region. Direct
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• By Product Outlook (Revenue, USD Million,
  2017-2027)
• Plain Bearings
• Rolling Element Bearings
• Ball Bearings
• Fluid Bearings
• By Bearing Type Outlook (Revenue, USD Million,
  2017-2027)
• Roller Bearings
• Ball Bearings
• Plain Bearings
• By Material Outlook (Revenue, USD Million,
  2017-2027)
• Alloy
• Metal
• Others (Ceramic and Plastic)
• By Vehicle Type Outlook (Revenue, USD Million,
  2017-2027)
• Two-Wheeler
• Passenger Car
• Commercial Vehicle
• By Distribution Channel Outlook (Revenue, USD
  Million, 2017-2027)
• Aftermarket

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• By Region Outlook (Revenue, USD Million,
  2017-2027)
• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru,
  Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain,
  Poland, Russia, Slovenia, Slovakia, Hungary,
  Czech Republic, Belgium, the Netherlands,
  Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea,
  Indonesia, Malaysia, Thailand, Vietnam, Myanmar,
  Cambodia, the Philippines, Singapore, Australia
  New Zealand, Rest of Asia Pacific)
• The Middle East Africa (Saudi Arabia, UAE,
  South Africa, Northern Africa, Rest of MEA)
• Access full Report Description, TOC, Table of
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• etc https//www.marketstatsville.com/table-of-con
  tent/automotive-bearings-market-will-reach-usd-
  23-8-billion-by-2025
• By vehicle type, passenger vehicles are accounted
  for the largest market share
• Based on vehicle type, the global automotive
  bearings market is divided into passenger cars
  and commercial vehicles. In 2020, the passenger
  vehicle segment accounted for the largest market
  share of 73.6 in the global automotive bearings
  market. Various types of bearings deployed in a
  vehicle, across several systems, like steering,
  engine, transmission, wheel, suspension, etc., to
  transmit load and reduce friction. Among the
  automotive bearings, engine bearings in passenger
  cars have been experiencing various sizes due to
  the trend of engine downsizing in the automotive
  industry, majorly over the past five years.
• However, the demand for bearings in transmission
  and steering systems is likely to grow faster,
  owing to the increasing adoption of the
  automatic transmission system and electric power
  steering systems in passenger cars. In addition,
  the car segments, like SUVs, subcompacts, and
  sedans, are anticipated to continue to grow in
  sales swiftly during the forecast period.

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Asia Pacific accounts for the highest CAGR during
the forecast period Based on the regions, the
global automotive bearings market has been
segmented across North America, Asia-Pacific,
Europe, South America, and the Middle East
Africa. Globally, Asia Pacific is estimated to
hold the highest CAGR in the global global
automotive bearings market during the forecast
period. The region includes the countries such as
China, India, Japan, South Korea, Australia,
Southeast Asia, and the Rest of Asia-Pacific.
Increasing production and sale of new vehicles,
along with improving economic conditions of the
middle class, is driving the market
growth. After Asia Pacific, Middle East Africa
is the fastest growing region with a CAGR of 4.1
during the forecast period. Despite the economic
crisis prevailing in the country, OEMs still
continue to invest in the country, especially in
the south and southeastern part of Brazil, like
São Paulo. One of the major drivers for
increasing investment in the country are
investments from statecontrolled banks, like
Brazilian Development Bank (BNDES). Request For
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