LONDON--(BUSINESS WIRE)--Feb 1, 2019--Technavio has announced the release of their research report on the global automotive needle roller bearing market for the forecast period 2019-2023. This automotive needle roller bearing market analysis report segments the market by application (passenger cars and commercial vehicles) and geography (APAC, Europe, MEA, South America, and North America).
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Technavio has released a new market research report on the global automotive needle roller bearing market for the period 2019-2023. (Graphic: Business Wire)
Global automotive needle roller bearing market size will grow at a CAGR of nearly 4%. The growth of electric vehicles has been promoting the development of components such as low-noise thrust needle roller bearings to diminish the engine noise. Vehicle manufacturers use electrical systems instead of mechanical components to reduce engine noise as such systems have lower moving parts and emit lower sound than conventional mechanical components. Electric vehicles also operate on multiple electrical systems, which require low-noise emitting bearings for smoother operations. Low-noise thrust needle roller bearings assist in creating a smoother drive experience in electric vehicles.
Surging demand for internal combustion engine vehicles
Production patterns in the automotive needle roller bearings market are impacted by the growth of the internal combustion engine vehicle market as the bearings are mostly used in automobiles. In APAC, progressing household incomes, urbanization, and low penetration of passenger cars will increase the demand for passenger cars. Increasing commercial activities in countries such as India and China will further drive the requirement for additional commercial vehicles.
In the Americas, manufacturers have been introducing multiple vehicle models with automatic transmission to attract customers. This high adoption of automatic transmission systems will boost the demand for thrust needle roller bearings. The production of automotive needle roller bearings will further increase owing to strong demand for passenger cars and export-oriented manufacturing activities in Central and East European countries such as the Czech Republic, Romania, and Poland.
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“APAC is expected to account for the highest market growth during the forecast period. The demand for automatic transmission systems in the passenger cars segment in China and India is expected to increase. Additionally, vehicle makers in China, Thailand, Japan, India, and Indonesia are introducing several vehicle segments to target multiple consumer groups. All these factors will drive the demand for advanced automotive features such as automatic transmission, thereby increasing the production of needle roller bearings,” says an analyst at Technavio.
The rapid developments in the global electric vehicle market will have a significant impact on the growth of the automotive needle roller bearings market in terms of technology. The development of electric vehicle generates the need for different systems and components. This has resulted in the development of new types of automotive needle roller bearings which are compatible with electric vehicle systems.
for a more detailed overview of the market and the segmentation covered in this report
This automotive needle roller bearing industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several automotive needle roller bearing products manufacturers including –
JTEKTNSKNTNSchaefflerSKF
Some of the key topics covered in the report include:
Market Landscape
Market ecosystemMarket characteristicsMarket segmentation analysis
Market Sizing
Market definitionMarket size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Regional comparisonKey leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
Vendors coveredVendor classificationMarket positioning of vendorsCompetitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base includes enterprises of all sizes, including more than 100 Fortune 500 companies.
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KEYWORD:
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 02/01/2019 10:17 AM/DISC: 02/01/2019 10:17 AM
http://www.businesswire.com/news/home/20190201005323/en
