Engine Bearings Market Size, Global Opportunities, Share, Growth, Industry Trends to 2027
EngineBearings Market will exhibit a CAGR of 12.6% during the forecast period, andreach USD 5.28 billion by 2027, and the Market value as per 2019 was USD5.35 billion.
FortuneBusiness Insights™ in a new report, titled, “Engine BearingsMarket Size, Share & COVID-19 Industry Analysis, By Product Type (MainBearing, Connecting Rod Shell, Flange Bearing, Small End, and Camshaft Bush),By Market Type (OEM and Aftermarket), By Vehicle Type (Passenger Cars and LightCommercial Vehicles, Heavy Commercial Vehicle) and Regional Forecasts,2020-2027.”
Engine Bearings Market Drivers and Restraint:
Increasing Production and Sales of Vehicles to Propel the MarketGrowth
Globally,the growing urbanization, developing infrastructures, and expansion in theindustrial sector are the primary factors that are propelling the growth of theautomotive industry. Also, the rise in disposable income has leveraged theliving standards of people, thus, encouraging them to purchase new vehicles.Moreover, the support from the government authorities for promoting sales ofautomobiles as well as the rising trend for lightweight vehicles areconsequently boosting the vehicle bearing market. Prominent automobilecompanies are investing in high capital in expanding their business in emergingeconomies owing to the increasing demand for high-performance vehicles.
Reduction in Vehicle Weight to Drive the Market Growth
Improvisationand development in the engine performance of vehicles have always been one ofthe significant challenges for the automotive industry. To attain thisobjective, manufacturers are working towards reducing the overall weight andsize of all components of the engine. Bearings used in automobiles constituteheavyweight, so if they are redesigned and redeveloped to weight reductionproperty, they play a significant role in reducing the weight of automobiles.Nowadays, aluminum alloys are gaining high traction owing to their advantageousproperties, such as lightweight, higher durability, greater strength, maximumcorrosion resistance, and enhanced operating ability at high temperatures.Therefore, the utilization of aluminum alloys for making engine bearings willreduce the energy loss by friction and ensure high operating efficiency.Furthermore, automotive manufacturers are investing in research to developlightweight materials thus improving the fuel efficiency and performance of thevehicles.
List of Key Players Covered in the Engine Bearings Market Report:
- MAHLE Aftermarket GmbH (Stuttgart, Germany)
- ORS - Ortadoğu Rulman Sanayi ve Tic. A.Ş. (Ankara, Turkey)
- SNL (Maharashtra, India)
- NACHI-FUJIKOSHI CORP. (Tokyo, Japan)
- JTEKT Corporation (Osaka, Japan)
- MinebeaMitsumi Inc. (Minato, Tokyo, Japan)
- RBC Bearings Incorporated (Oxford, Connecticut, United States)
- NSK Ltd (Tokyo, Japan)
- King Engine Bearings Inc. (Livingston, USA)
- Schaeffler AG (Herzogenaurach, Germany)
- THE TIMKEN COMPANY (North Canton, Ohio, United States)
- WAFANGDIAN BEARING GROUP CORP.LTD. (Liaoning, China)
To gain more insights into the market with a detailed table ofcontent and figures, Click Here: https://www.fortunebusinessinsights.com/engine-bearings-market-103471
Some of the key industry developments in the EngineBearings Market Include:
- June 2020 – Auburn Bearing Launches Updated, Latest Website Auburn Bearing & Manufacturing has recently launched a redesigned newly website AuburnBearing.com. This website with freshly revamped coupled with improved functionality and mobile-friendly design had been featured for a more consumer-friendly experience.
- April 2019 – MAHLE Introduces New Bearings to Reduce Emissions MAHLE develops new melamine cyanurate polymer coating for bearings to enhance the service life and reduce friction thereby improving the lubrication properties. The coating has high thermal stability and ensures robust operations of the bearings to withstand the elevated loads that arose due to emission control.
- September 2019 – Timken to Develop Ultra Quiet and Efficient Design for Bearings The Timken Company has announced a significant investment in R&D to develop NVH simulation software to reduce the noise and vibrations of the bearings during operation. The company is developing a set of advanced NVH functions that can analyze sound, measure NVH performance as well as identify the source of the sound.
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