Automotive Mounted Bearing Market 2020 | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2030
Automotive Mounted Bearing: Introduction
- Automotive mounted bearing with rolling bearings support a rotating shaft that can be bolted on a machine frame or any other substructure. These bearings are widely used for radial thrust and heavy loads applications including powertrain and engine mountings.
Key Drivers of Automotive Mounted Bearing Market
- Rise in disposable income and reduction in tax rates on passenger and commercial vehicles due to the coronavirus pandemic are prompting consumers to own vehicles. Rise in consumer preference for lightweight and fuel-efficient vehicles is estimated to boost the automotive mounted bearing market across the globe. Major automotive bearing manufacturers are continuously investing in manufacturing facilities to increase the production of automotive bearings and expand their geographic presence to enhance their product portfolio across the globe. In June 2019, SKF invested around US$ 42.5 million for expansion of their bearing factory in Xinchang, China.
- Introduction to sensor-based mounted bearings in vehicles is likely to significantly boost the automotive mounted bearing market. Rise in demand for advanced safety features in vehicles, including anti-lock braking system where sensor based mounted bearings are extensively utilized, is likely to boost the automotive mounted bearing market across the globe.
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Europe & Asia Pacific to hold significant share of global automotive mounted bearing market
- Europe is projected to account for a significant share of the global automotive mounted bearing market due to rapid expansion of manufacturing industries across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding the mounted bearings, which is likely to propel the automotive mounted bearing market across the region.
- Followed by Europe, Asia Pacific is projected to account a significant share of the global automotive mounted bearing market due to an increase in sale of vehicles across the region. Growing industrialization across the region and cost-effective manufacturing are anticipated to boost the automotive mounted bearing market in Asia Pacific. Easy availability of raw material required for manufacturing of mounted bearing is likely to further boost the automotive mounted bearing market in Asia Pacific.
Key Players Operating in Automotive Mounted Bearing Market
The global automotive mounted bearing market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive mounted bearing market are:
- Schaeffler AG
- SKF
- The TIMKEN Company
- NSK Ltd.
- NTN Corporation
- JTEKT Corporation
- Cixing Group Co. Ltd
- ILJIN Co. Ltd.
- BMI Bearings
- ABB Motors and Mechanical Inc.
- NRB Bearings
- IPTCI Bearings
- Bearings Ltd
- PBC Linear
- IKO International Inc.
- Indiana Bearings Pvt Ltd
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Global Automotive Mounted Bearing Market: Research Scope
Global Automotive Mounted Bearing Market, by Type
- Pillow Block (Plummer Block)
- Flanged Cartridge
- Take Up Units
- Others
Global Automotive Mounted Bearing Market, by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global Automotive Mounted Bearing Market, by Material
- Chrome Steel
- Stainless Steel
- Carbon Alloy Steel
- Plastic & Non-Metallic Material
- Babbitt Metal
- Cast Iron
- Aluminum Alloys
Global Automotive Mounted Bearing Market, by Sales Channel
- OEM
- Aftermarket
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