Introduction: TechSci Research presents an in-depth analysis of the Indian Automotive Bearing market through its report, titled “India Automotive Bearing Market – By Region, Competition, Forecast, and Opportunities, 2029F.” This report delves into the crucial role of automotive bearings in ensuring vehicle performance and comfort, especially in the context of evolving consumer demands for electric vehicles, autonomous driving, and noise reduction. It explores the various types of bearings, such as ball bearings, roller bearings, and plain bearings, and how they contribute to the efficient functioning of vehicles. Furthermore, the report highlights the growing importance of the automotive industry in India’s economic development, as well as the investments and innovations taking place in the automotive bearing sector.
The Significance of Automotive Bearings:
Automotive bearings are indispensable components in modern vehicles, serving the critical purpose of facilitating the smooth and silent movement of various vehicle components. These components, including the steering column and seat track rails, must operate seamlessly to meet the ever-increasing demands of consumers for comfort, electrification, autonomous driving, and noise reduction. The report provides insights into the three main types of bearings: ball bearings, roller bearings, and plain bearings, detailing their unique characteristics and applications. For instance, ball bearings utilize rows of balls as rolling elements, offering low rolling friction but with limited load capacity. On the other hand, roller bearings, featuring cylindrical rolling components, possess a higher loading capacity. The simplest form, plain bearings, also known as sliding contact bearings, consist of a bearing surface. As technology advances and automobile sales continue to surge in India, the demand for automotive bearings is expected to exhibit strong growth in 2022, with even higher growth anticipated in the coming years.
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Driving the Indian Automotive Industry:
The Indian automotive industry holds a pivotal role in the nation’s economic development, boasting 17.5 million domestic vehicle sales in FY22, making it one of the world’s largest automotive markets. This industry is primarily dominated by the two-wheeler and passenger car segments, influencing the growth of the automotive bearings market. As consumer expectations and technological advancements reshape the automotive landscape, manufacturers of automotive bearings are investing significantly in research and development. This investment leads to the creation of advanced bearings that offer cost-effective solutions in the market. Furthermore, with the Indian government actively promoting the adoption of electric passenger cars and two-wheelers, many manufacturers are focusing on developing unique bearings tailored for electric vehicles. This aligns with the global trend toward sustainable transportation.
Key Market Players and Collaborations:
Several automotive bearing manufacturers are investing in India and collaborating with other companies to enhance their market shares. For instance, in 2022, Schaeffler India inaugurated a state-of-the-art warehousing and consolidation facility in Hosur, spanning 100,000 square feet and equipped with cutting-edge technology and infrastructure. Additionally, in 2023, the Ford F-150 Lightning, the first widely accessible electric light-duty pickup truck, utilized packaged wheel bearings developed by the Timken Corporation. NTN Corporation expanded mass production of needle roller bearings with proprietary solid grease for motorcycle swing arm pivot shafts in 2021, aiming to improve performance and durability. The same company introduced a Multi-Track Magnetic Encoder Integrated Rolling Bearing in 2022, offering exceptional environmental resilience and high-resolution angle detection. SKF, a leading player, developed a novel hybrid deep groove ball bearing in 2022, featuring a high-performance two-piece polymer cage designed for high-speed applications. These advancements demonstrate the commitment of market players to innovation and the potential for robust growth in the automotive bearing market.
Key market players in the India Automotive Bearing Market include:
· Schaeffler India Ltd
· SKF Bearings India
· Timken India Ltd
· NRB Bearings Ltd
· Menon Bearings Ltd
· NTN Bearing India Pvt. Ltd
· THB Bearings Co. Ltd
· ISB Industries Private Limited
· Bimetal Bearing Ltd.
· JTEKT India Limited
India Automotive Bearing Market can be segmented by vehicle type, by application type, by bearing type, by demand category, and by region. On the basis of vehicle type, the market is segmented into Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, and Two-Wheeler. Based on the application type, it is further segmented into Engine, Transmission, Wheel, Steering, Others. Furthermore, on the basis of Bearing Type, the market is segmented into Ball Bearing, Roller Bearing, and Plain Bearing. Based on the demand category, the market is divided into OEM and Aftermarket. Furthermore, the market is also divided into region wise mainly into North, West, South and East.
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“Rapid growth in automotive industry in India is expected to boost the automotive bearing market in coming years. Two-wheeler segment continues to dominate the market due to large volume of two wheelers sold in India as overall revenue, with the addition of electric passenger cars in the market. The addition of electric vehicles in the Indian automobile industry is expected to drive the automotive bearing industry at higher rate in the forecast years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Automotive Bearing Market Segmented By Vehicle type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler), By Application (Engine, Transmission, Wheel, Steering, Others), By Bearing Type (Ball Bearing, Roller Bearing, Plain Bearing), By Demand Category (OEM, Aftermarket), By Region (North, West, South, East), Competition Forecast & Opportunities, 2018- 2028F” has evaluated the future growth potential of India Automotive Bearing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Automotive Bearing Market.
What to Expect in the Sample Report:
- Market Overview: A comprehensive understanding of the Indian Automotive Bearing market’s current landscape, challenges, and opportunities.
- Bearing Types and Applications: In-depth insights into the various types of automotive bearings and their critical roles in vehicles.
- Market Dynamics: Analysis of factors driving the growth of the automotive bearing market, including consumer demands and technological advancements.
- Economic Impact: The significance of the automotive industry in India’s economic development and the market’s contributions.
- Innovations and Investments: An exploration of key developments in the automotive bearing sector, including investments, collaborations, and technological advancements.
- Future Growth: A forward-looking perspective on the potential growth of the automotive bearing market in India.
Who Will Benefit from This Report:
- Automobile Manufacturers: Gain insights into the evolving demands of consumers and technological advancements in the automotive bearing sector.
- Investors: Identify opportunities in a thriving sector and track key market players and their innovations.
- Bearing Manufacturers: Understand market dynamics and emerging technologies for product development.
- Government and Policy Makers: Utilize data for informed regulations and standards in the automotive industry.
- Academic and Research Institutions: Access valuable information for studies related to automotive engineering and technology.
Download Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=3029
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