Automotive Engine Bearings Market Overview
Automotive engine bearing refers to a bearing installed on internal combustion engine. This bearing helps the crankshaft to rotate and prevent crankshaft from being dislodged. Moreover, automotive engine bearings maintain proper functioning and overall efficiency of crankshaft.
Market Size and Forecast
Global automotive engine bearings market is expected to grow at a CAGR of 5.7% during the forecast period i.e. 2018-2027. Further, automotive engine bearings market is anticipated to reach to a valuation of USD 211.8 Billion by the end of 2027. Growing production and consumption of automotive vehicle is anticipated to spearhead current and future growth of the global automotive engine bearings market. Moreover, increasing global base of vehicle fleets offer potential for the replacement of global automotive engine bearing market.
In the regional segment, Asia Pacific is projected to capture the highest percentage of market share in automotive engine bearings during the forecast period. Further, Asia Pacific is anticipated to growth at highest growth rate during the forecast period. Growing automotive production in the region is fueling the growth opportunities in the OEM market. Apart from this, expanding affluent middle class population is aiding the sales of new vehicle which is further spurring the growth of automotive engine bearings market. Continuous growth in GDP performance of various economies in the region is expected to benefit the growth of global automotive engine bearings market. Countries such as China, Japan and India are anticipated to witness lucrative growth during the forecast period i.e. 2018-2027.
Europe represents the second largest automotive engine bearings market worldwide and is expected to grow at significant growth rate over the forecast period. Growing production of automotive vehicles in the region is anticipated to impel the growth of automotive engine bearings market. Moreover, presence of major manufacturers in the region is envisioned to bolster the growth of Europe automotive engine bearings market.
North America region accounted for significant market share in 2017. High purchasing power of the population coupled with growing sales of vehicle is expected to strengthen the growth of automotive engine bearings market during the forecast period.
Based on vehicle type, automotive engine bearings market is segmented into passenger cars, light commercial vehicle and heavy commercial vehicle, out of which, passenger cars is expected to dominate the overall automotive engine bearings market during the forecast period.
Our-in depth analysis of the global automotive engine bearings market includes the following segments:
By Vehicle Type
By Sales Channel
The global automotive engine bearings market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Improvement in global GDP performance is expected to positively support the growth of the market. Moreover, increase in the number of production facilities in growing economies is expected to garner the growth automotive engine bearings market in the years ahead. In addition, vehicle production gains in China are ringing in the additional demand for engine bearings.
Rising passenger car density across the globe is expanding the addressable market for automotive engine bearings aftermarket. Further, increasing average life of vehicles is driving the growth of automotive engine bearings aftermarket.
Continuous enhancements and innovation in engine bearings is believed to benefit the growth of the global automotive engine bearings market during the forecast period. In addition, positive growth of automotive industry across the globe and increasing investment in research and development is anticipated to impel the global automotive engine bearings market in the years ahead.
However, fluctuation in raw material prices and penetration of counterfeit products in the market is believed to dampen the growth of automotive engine bearings market.
Scope and Context
Overview of the Parent Market
The global automotive engine bearings market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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