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Report ID: UCMIG25A2107
Report ID:
UCMIG25A2107 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global automotive bearing market, with a 2022 valuation of USD 14.35 billion, is expected to experience steady growth in the coming years. Projections indicate that it will reach USD 19.46 billion by 2030, with a compound annual growth rate (CAGR) of 4.0% during the forecast period. Bearings, essential mechanical components, play a crucial role in reducing friction between moving parts in various applications, including the automotive and aerospace & defense sectors, among others. In the automotive industry, these bearings enhance vehicle performance by supporting heavy loads and minimizing friction across components such as gearboxes, engines, wheels, transmissions, steering systems, pumps, electrical motors, and more.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Auto Parts & Equipment by segment aggregation, the contribution of the Auto Parts & Equipment in Automobiles & Components and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG25A2107