Automotive Bearing Market Development Factors, and Latest Opportunities

1. Automotive Bearing Market Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2025 1 ©P&SIntelligence.Allrightsreserved

2. The affordability of vehicles has increased significantly over the past few years. Technological advancements have paved the way for cheaper vehicles, along with which, the increasing disposable income of people has made it easier for them to buy private vehicles. Owing to these factors, the global automotive industry has been registering considerable growth over the past few years. Developing countries, including China, Indonesia, India, and Thailand are majorly contributing to the growth of the automotive industry. Owing to this, the global automotive bearing market is expected to generate a revenue of $53.3 billion by 2025, increasing from $33.4 billion in 2018, and is projected to progress at a 6.9% CAGR during the forecast period (2019–2025), as stated by a P&S Intelligence report. Bearings are of great importance in the automotive industry, as all the moving parts of the vehicle need them in order to function. Bearings further improve the performance of the vehicle, decrease friction, and bear heavy loads. Request to Get the Sample Report: Bearings are majorly of three types, namely plain bearing, roller bearing, and ball bearing, among which, the demand for ball bearings has been the highest up till now. These bearings are utilized widely in two-wheelers and passenger cars. Ball bearings are further of different types, namely self-aligning, deep-grove ball bearing, angular contact ball bearing, and thrust ball bearing. In the coming years, however, the demand for roller bearings is projected to grow significantly. This is due to the increasing sales of heavy-duty vehicles. In addition to this, the latest automotive bearing market enhancements in heat generation and reducing friction by these bearings is also predicted to create their high demand for off-road vehicles and commercial vehicles. Thrust roller bearing, needle roller bearing, spherical roller bearing, cylindrical roller bearing, and tapered roller bearing are the different types of roller bearings. Among all these,

3. the demand for tapered roller bearings is expected to be significantly high in the years to come. Speak to Analyst: In conclusion, the market is growing due to the rapid expansion of the automotive industry in developing countries. This study covers Historical and the present size of the automotive bearing market Future potential of the market through its forecast for the period 2013-2025 Major factors driving the market and their impact during the short, medium, and long terms Market restraints and their impact during the short, medium, and long terms Recent trends and evolving opportunities for the market participants Historical and the present size of the market segments and understand their comparative future potential Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders Major players operating in the market and their service offerings Recent strategic developments by the major players in the market 3 ©P&SIntelligence.Allrightsreserved

4. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd.

5. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 4 ©P&SIntelligence.Allrightsreserved