MarkNtel Advisors – Leading Market Research Company found India Automotive Bearing Market is expected to reach 7.0% CAGR Growth By 2028.
This report provides a comprehensive analysis of the India Automotive Bearing Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.
Comprehensive Analysis of the India Automotive Bearing Market
Base Year: 2022
Forecast Years: 2023-2028
Historical Years: 2018-2021
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Scope of the India Automotive Bearing Market Report:
The India Automotive Bearing Market is projected to grow at a CAGR of around 7.0% during the forecast period, i.e., 2023-28. The market growth is predominantly driven by the flourishing automotive production, sales, and modification of vehicles, the varying goals to reduce the vehicle’s carbon footprint, and alterations to make it lighter. Besides, the requirement for lightweight & durable bearings for automotive, along with the increasing preference for personal mobility, has further elongated the bearings industry ventures.
Which prominent factor is expected to drive the India Automotive Bearing Market during 2023-28?
India is a major consumer of automobile vehicles sales due to the increase in disposable income, especially in middle-class consumers, resulting from urbanization, raised living standards, and the desire to own private vehicles to commute instead of public transport, specifically after Covid-19 Pandemic has elevated the automotive industry in the country. Moreover, multiple varieties of bearings are required and play a vital role in automotive functioning. Thus, the flourishing of the automotive industry has been driving the automotive bearings industry in India.
In addition, the need for continuous modification to follow government regulations to decrease the carbon footprints and to make the vehicle lighter has led to the development of new designs and more research into bearings. Thus, the need for high-performing, technologically advanced bearings has further driven the industry forward.
What are the different Segment Available in the India Automotive Bearing Market?
By Type
- Ball Bearing
- Roller Bearing
- Clutch Bearing
By Vehicle
- Two Wheelers
- Three Wheeler
- Passenger Vehicle
- Commercial Vehicle
- Off-the road
By Demand
- OEM
- Replacement
By Region
- North
- South
- West
- East
- North-East.
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Leading India Automotive Bearing companies operating in the Market
- SKF India Limited
- National Engineering Industries Limited (NEI)
- Timken India Limited
- NRB Bearings Limited
- Tata Bearings
- ABC Bearings
- Bimetal Bearings Ltd.
- Austin Engineering Co. Ltd.
- FAG Bearings India Limited
- INA Bearings India Pvt. Ltd.
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