How Big is the India Automotive Bearing Market?

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.

Market Statistics

  • Market Growth Rate (CAGR): 7.0% from 2023-2028

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India Automotive Bearing Market Insight:

Driver-

Flourishing Automotive Production, Sales, and Modifications Across the Country

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.

 India Automotive Bearing Market Segmentation:

The report has segmented the market into the following categories:

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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Competitive Landscape:

  • 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.

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key Highlights of the Report:

  • Market Performance (2023-2028)
  • Strategic Recommendations
  • Current, Historical and Future Market Trends
  • Market Drivers and Leading Competitor
  • SWOT Analysis
  • Structure of the Market
  • Comprehensive Mapping and Recent Advancement

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