Global Automotive Bearing Market is valued at approximately USD 31.08 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.28 % over the forecast period 2022-2028. Bearings are machine parts that limit relative motion to only that which is intended and reduce friction between moving elements. Automotive bearings are a critical component in automobiles, and they are responsible for the vehicle's efficient and smooth operation. The rise in the demand for commercial vehicles and in the number of styles available have led to the adoption of Automotive Bearing across the forecast period. For Instance: as per Statista in 2022, Global commercial vehicle manufacturing increased to roughly 23.2 million units in 2021, gently recovering from a three-million-unit dip in 2020. All motor vehicles intended for the commercial transport of products and passengers are classified as commercial vehicles, with light commercial vehicles referring to vehicles weighing less than 3.5 tonnes. According to estimates, Asia and Oceania was the largest producer of heavy trucks in that year, producing roughly 3.3 million units. Also, with the increasing spending power and increase in urbanization, the adoption & demand for Automotive Bearing is likely to increase the market growth during the forecast period. However, increase in the cost of aluminium impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Automotive Bearing Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading and fastest growing region in Automotive Bearing Market owing to the rise in the demand for commercial vehicles and in the number of styles available.

Major Market players included in this report are:

Federal-Mogul Holdings LLC

SKF

NSK Ltd

JTEKT Corp.

Minebea Co. Ltd

Nachi Fujikoski

NTN Corp

Rheinmetall Automotive

Schaeffler AG

SNL Bearings Ltd

The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro Markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the Market are explained below:

By Product Type:

Plain Bearings

Rolling Element Bearings

Ball Bearings

By Vehicle Type:

Passenger Cars

Commercial Vehicles

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Automotive Bearing Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors