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Europe Automotive Bearings Market to grow at 7.7% of CAGR During 2030

PORTLAND, ORAGON, UNITED STATES, October 3, 2022 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Automotive Bearings Market by Bearing Type, Vehicle Type, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027”, the global automotive bearings market was valued at $31.66 billion in 2019, and is projected to reach $48.41 billion by 2027, registering a CAGR of 6.8% from 2020 to 2027. By vehicle type, the passenger car segment was the highest revenue contributor in 2019, accounting for $18.80 billion, and is estimated to reach $28.36 billion by 2027, registering a CAGR of 6.6% during the forecast period. In 2019, Asia-Pacific was anticipated to account for major market share.

Download Report (PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/6122

 Bearing is a machine element that constrains relative motion to only desired motion and reduces friction between moving parts. Automotive bearings are a vital component in automobiles, and are responsible for efficient and smooth running of the vehicle. Their major function is to enable linear or rotational movement along with handling high stress. Various types of bearings used in the automotive sector include engine bearings, transmission system bearings, steering system bearings, air conditioner bearings, and others. Bearings are used in two wheelers, personal cars, three wheelers, and heavy load carrying commercial vehicles.

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 The Key players operating in the global automotive bearings market are ILJIN co., ltd., JTEKT Corporation, Nippon Thompson Co., Ltd. (IKO International, Inc.), NSK Ltd, NTN Corporation, RBC Bearings Incorporated, Schaeffler AG, SKF, THK CO., LTD., and The Timken Company.

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 The global automotive bearings market is segmented into bearings type, Vehicle type, distribution channel, and region. On the basis of bearings type, the market is categorized into ball bearing, roller bearing, and others. Depending on vehicle type, it is segregated into passenger car, commercial vehicle, and two-wheeler. OEM and aftermarket are studied under the distribution channel segment. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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 Key Benefits For Stakeholders

This study presents analytical depiction of the automotive bearings market analysis along with the current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
The current automotive bearings market size is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive bearings industry.

Browse Complete Report at 
https://www.alliedmarketresearch.com/automotive-bearings-market

 Similar Research Report:
Automotive Hypervisor Market https://www.alliedmarketresearch.com/automotive-hypervisor-market-A11740

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of ""Market Research Reports"" and ""Business Intelligence Solutions."" AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

David Correa
Allied Analytics LLP
800-792-5285
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