Automotive Bearing Segmentation
Type (Ball Bearings, Roller Bearings, Tapered Bearings, Spherical Bearings)
The ball bearing segment in automotive bearing market is predicted to hold a leading revenue share of over 43.7% throughout the forecast period. A major factor supporting the expansion of the segment is the surging demand for lightweight solutions in passenger vehicles. Another factor contributing to the growth is their application in multiple vehicle types in wheel hubs, transmission systems, and engine components. The future outlook of the segment promises lucrative opportunities as regional markets across the world are embracing EV solutions in mobility.
Application (Commercial Vehicles, Passenger Vehicles)
The commercial vehicles segment in automotive bearing market is estimated to account for 60.4% revenue share during the forecast period. The segment’s growth can be attributed to rise in demand for high-capacity bearings in commercial vehicles such as buses and trucks. Additionally, passenger vehicles are the backbone to industries such as logistics and freight, while a growing demand for fuel-efficient vehicles against the backdrop of strict fuel economy mandates has ensured that commercial vehicles remain a major end user of bearings. The aftermarket segment is vital for commercial vehicles, as they are subject to extreme operational conditions and require a regular supply of replacement bearings.
Our in-depth analysis of the global automotive bearing market includes the following segments:
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