Automotive bearings simplify the operations of engines, gearboxes, wheels, steering, transmissions, electrical motors, pumps, and various other vehicle components. Persistence Market Research has walked through these facts with subsequent steps to be taken in its latest market study entitled “Automotive Bearing Market”.
Automotive Bearing Market Segregation
The global automotive bearing market, by type, spans roller (tapered, cylindrical, spherical, needle, and thrust), ball (deep grove, angular contact, thrust, and self-alignment), and plain bearing. By application, it’s the engine, transmission system, wheel hub, steering system, and suspension. By sales channel, it’s OEM, OES, and IAM. Persistence Market Research has given a detailed analysis of these facets with future perspectives in its latest market study entitled “Automotive Bearing Market”.
North America holds the largest market share due to stern regulations regarding carbon emissions imposed by the governments herein. Europe stands second due to shared mobility regarding self-driving and electric cars. The Asia-Pacific is expected to grow at the fastest rate in the years to come due to increasing demand for warehouses and automobiles, especially in the post-Covid era. The governments herein are also pressing for the adoption of EVs. Persistence Market Research has etched these facts with insights in its latest market study entitled “Automotive Bearing Market”.
Persistence Market Research has profiled the key players in the automotive bearing market as AB SKF, JTEKT Corp., Schaeffler AG, Federal-Mogul Corp., NSK Ltd., NTN Bearing Corporation, Rheinmetall AG (KSPG AG), Wafangdian Bearing Group Corp., Timken Company, NRB Bearings Ltd., Nachi Fujikoshi Corp., Minebea Co., Ltd., C&U Bearing, MAHLE GmbH, Continental Group (Contitech), and likewise.
Persistence Market Research has also entailed major developments in this regard. For instance – SKF, in December 2021, did develop a hybrid DGBB (Deep Grove Ball Bearing) inclusive of steel rings and ceramic rolling elements.
It does make way for enhanced performance and electrical insulation of the top level, thereby rendering it a premium choice for higher-performance EV powertrains. The company is also into the development of custom solutions for protecting EV transmission on the whole. NSK, in March 2020, came up with an ultra-high-speed ball bearing to serve EV motors. The product does help the electric motors in operating at better speeds and enhance fuel economy, thereby curtailing power consumption/unit distance. SKF, in November 2019, did acquire FAS (Form Automation Solution) (a software development start-up company).
The major objective of this acquisition was to enhance the inspection capabilities as well as task management of customers, along with turning the manual knowledge collection procedures into the ready reckoner for the operator.
The Road Ahead
The global automotive bearing market is expected to get going based on innovation in the next 10 years – Persistence Market Research