Wheel bearings are safety-critical components in a vehicle. The primary function of wheel bearings is to guide and support shafts and axles. They are an essential part of the chassis system which governs the wheels and absorbs axial and radial forces. Wheel bearings are responsible for the stable driving behavior and depending on design, supply the wheel speed information for the ABS. At the same time, it bears the weight of the vehicle via the roller bearings.
"Global Automotive wheel bearings Market Analysis to 2028"
is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive wheel bearings market with detailed market segmentation by product type, application, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive wheel bearings market players and offers key trends and opportunities in the market.
- The global automotive wheel bearings market is segmented on the basis of product type, application, and vehicle type.
- On the basis of product type, the market is segmented as ball bearings, roller bearings, tapered roller bearings, precision ball bearings, and others.
- Based on application the market is segmented as engine, transmission system, suspension, wheel hub, steering system, and others.
- On the basis of vehicle type the market is segmented as passenger cars, commercial vehicle, and two wheeler.
- Growth of passenger cars has significantly increased in the emerging countries like India and China.
- Cost of raw material is volatile.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive wheel bearings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive wheel bearings market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE WHEEL BEARINGS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the automotive wheel bearings market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Automotive wheel bearings market market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive wheel bearings market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Automotive wheel bearings market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Mahle GmbH
- JTEKT Corporation
- NSK Ltd.
- NTN Corporation
- Schaeffler AG.
- Wafangdian Bearing Group Co.,Ltd.
- Iljin Bearing Co., Ltd.
- Timken Company
- ORS Bearings
- Nachi Fujikoshi Corp.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.