Key findings of global automotive bearings market

“The progressing economic growth of China, India, and Indonesia is driving the automotive sales in APAC. Other important countries contributing to the growth of the automotive transmission systems are Singapore, Japan, Malaysia, and Australia. Progressing economic development leads to the increased spending power of households that significantly influences vehicle purchase. In APAC, most of the automotive industry is centered in China and India. The increasing sales of passenger cars and commercial vehicles in these countries are contributing significantly to the rising demand for automotive transmission bearings,” says Raj Gaurav Singh, a lead analyst at Technavio for automotive components research. 

Global automotive transmission bearings market: competitive vendor landscape

The global automotive transmission bearings market is a mature market. It is characterized by the presence of a small number of manufacturers occupying large market shares. The key vendors in this market are NSK, NTN Bearing, and Schaeffler. The efficiency of automotive transmission bearings is the main area of focus for manufacturers as it forms the major means to upgrade offerings in the market. The market is highly capital-intensive and has low asset turnover.