Automotive Engine Bearings Market Size, Growth, Trends 2027
Global automotive engine bearings market is expected to flourish at a significant CAGR of 5.7% during the forecast period. The market stands to benefit from increasing automotive production and replacement in aftermarket.
Recent report titled published by research nester “Automotive Engine Bearings Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2027) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global automotive Engine Bearings market in terms of market segmentation by type, by vehicle type, by sales channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
he global automotive engine bearings market is segmented into sales channel such as OEM and aftermarket. Among these segments, OEM engine bearings segment is expected to occupy top position in overall automotive engine bearings market during the forecast period. This can be attributed to healthy automotive production trend. Moreover, automotive production is believed to increase in the upcoming years on the account of growing urbanization and increasing disposable income of the population. This factor is anticipated to intensify the growth of the automotive engine bearings market in the years ahead.
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Global automotive engine bearings market is expected to flourish at a significant CAGR of 5.7% during the forecast period. The market stands to benefit from increasing automotive production and replacement in aftermarket. Moreover, the global Automotive Engine Bearings Market is expected to garner USD 211.8 Billion by the end of 2027.
Asia Pacific captured the largest market share in overall automotive engine bearings market and is expected to continue its dominance over the forecast period. Highest automotive production is the primary reason behind the Asia Pacific lion’s market share. Further, growing purchasing power of the people in developing nations is anticipated to foster the growth of automotive market in the upcoming years. Europe automotive engine bearings market is anticipated to showcase significant growth during the forecast period. Moreover, Latin America is anticipated to grow at modest CAGR during the forecast period. Further, positive GDP growth coupled with growing automotive market in the region is anticipated to drive the growth of the automotive engine bearings in Latin America.
Healthy Automotive Production
Increasing automotive production is the major growth driver of global automotive engine bearings market. According to OICA, total motor vehicle production was held to be 97,302,534 units in 2017. This represented a growth of 2.4% in 2017 as compared to 2016. Further, automotive production is expected to increase on the account of rising demand. This factor is envisioned to bolster the growth of automotive engine market.
Automotive Aftermarket Industry Reflects Significant Opportunities
Growth in automotive vehicle size on the road is creating significant aftermarket opportunities for automotive engine bearings market. As engine bearing falls in wear and tear replacement category of automotive part, demand for replacement automotive engine bearings is likely to uplift during the forecast period on the account of growing number of aging vehicles.
Although, volatility in raw material price is likely to dampen the growth of automotive engine bearings market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive engine bearings market which includes company profiling:
MAHLE Aftermarket Inc., Schaeffler AG, SNL Bearings Ltd., ORS Bearings, Nachi Fujikoshi Corp., RBC Bearings, NSK Ltd. King Engine Bearings, Inc., Timken Company, Svenska Kullagerfabriken AB and NTN Corporation.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive engine bearings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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