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The growing FDI inflows in the automobile sector are anticipated to boost the growth of the automobile industry, thereby leading to an impending requirement for automotive bearings. Moreover, the large-scale investments in establishing electric vehicle manufacturing facilities in the country are expected to positively impact the growth of the India Automotive Bearing market.
According to MarkNtel Advisors’ research report titled “India Automotive Bearing Market Analysis, 2020”, the Automotive Bearing market is anticipated to register a CAGR of around 7% during 2020-25. The OEM segment captured the highest market share in the India Automotive Bearing market in 2019 on an account of the extensive initiatives by the government to boost the growth of the manufacturing sector, thereby boosting the local production of automobiles and its components in the country.
Moreover, the ball bearing segment acquired a considerable market share in the India Automotive Bearing market in 2019 due to the growing deployment of ball bearings in two-wheelers. The increasing sales of two-wheelers in the country due to a growing usage by the middle-class population is anticipated to strongly contribute to the growth of the ball bearings market in the years to come.
According to MarkNtel Advisors, the key players capturing a considerable market share in the India Automotive Bearing market include SKF India Limited, National Engineering Industries Limited (NEI), Timken India Limited, NRB Bearings Limited, Schaeffler India Limited, etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of India Automotive Bearing Market during 2020-25?
A. The market size of India Automotive Bearing Market during 2020-25 is forecast to be around 7%.
Q. By demand which segment would grab the highest market share during 2020-25?
A. It is forecast that OEM segment will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in India Automotive Bearing Market?
A. SKF India Limited, National Engineering Industries Limited (NEI), Timken India Limited, NRB Bearings Limited, Schaeffler India Limited are few of the leading players in the India Automotive Bearing Market.
Q. Does the report scope cover India Automotive Bearing Market type and region wise market statistics also?
A. Yes, the scope of the report encompass detailed India Automotive Bearing type and region wise statistics such as market size, market segmentation based on various subcategories.
Q. Which type segment would emerge as an opportunity area for players in India Automotive Bearing Market?
A. The ball bearing segment will continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of India Automotive Bearing Market.
