India $2.3 Billion Automotive Bearings Market Forecast & Opportunities, 2021 - Research and Markets
DUBLIN, Mar 16, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "India Automotive Bearings Market, By Type (Deep Grove Ball Bearing Angular, Tapered Roller Bearing, Spherical Roller Bearing, etc.), By Vehicle Type (2W, PC, OTR, LCV, 3W & M&HCV), Competition Forecast & Opportunities, 2011-2021" report to their offering.
The automotive bearings market in India is anticipated to cross $2.3 Billion by 2021, on account of expanding fleet size and growing replacement market demand.
Growing automobile industry and increasing vehicles production as well as sales are few of the major factors aiding India automotive bearings market. India automobile production grew at a CAGR of over 4%, in volume terms, during 2011-2015. Moreover, the country's automotive industry contributes more than 20% to India's manufacturing GDP.
Automobile production in India is anticipated to grow at a robust pace in the coming years as well, and thereby is expected to boost demand for automotive bearings from both OEM as well as replacement market in the next five years. Expanding fleet size of two-wheelers, passenger cars and three wheelers is anticipated to fuel demand for automotive bearings in the next five years. Moreover, with favorable inflationary scenario, expanding middle class population and increasing national disposable income, automobile sales across all the automobile segments are expected to grow in the coming years, thereby positively influencing India automotive bearings market.
Two-Wheeler occupied the largest share in India automotive bearings market in 2015. The segment is anticipated to maintain its dominance during the forecast period as well, owing to growing motorcycle and scooters production and sales in the country. Deep grove ball bearing angular is the most preferred type of automotive bearings in India. Region-wise, north region is the largest demand generating region for automotive bearings in the country.
India Automotive Bearings Market report discusses the following aspects of India automotive bearings market:
- India Automotive Bearings Market Size, Share & Forecast
- Segmental Analysis - By Type (Deep Grove Ball Bearing Angular, Tapered Roller Bearing, Spherical Roller Bearing, Cylindrical Roller Bearing, Needle Roller Bearing, Angular Contact Ball Bearing, Thrust Ball Bearing & Thrust Roller Bearing), By Vehicle Type (Two-Wheeler, Passenger Car, Off-the-Road, Light Commercial Vehicle, Three-Wheeler & Medium & Heavy Commercial Vehicle), By Region, By Demand Category (OEM Vs. Replacement)
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Market Trends & Developments
- Booming Automotive Industry
- Growing Use of Light Weight Bearings in Automotive Sector
- Dominance of Two-Wheeler Segment
- Organized v/s Unorganized Sector
- Rising Exports of Bearings to Foreign Countries
Companies Mentioned
- ABC Bearings Limited
- Austin Engineering Company Ltd.
- Bimetal Bearings Limited
- FAG Bearings India Limited
- INA Bearings India Private Limited
- Menon Bearings Limited
- NRB Bearings Ltd.
- National Engineering Industries Limited (NEI)
- SKF India Limited
- Tata Bearings
- Timken India Limited
For more information about this report visit http://www.researchandmarkets.com/research/d665ch/india_automotive
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