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India Bearings Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027

India Bearings Market- (By Product - Ball Bearings, Roller Bearings, Mounted bearings, Linear bearings and others; By Size - 30 to 40 mm, 41 to 50 mm, 51 to 60 mm and others; By Material – Specialty Steel Alloys, Plastics and Ceramics and By Application – Automotive, Aerospace, Agriculture and others; and By Region) – Industry Dynamics, Market Size, Opportunity and Forecast to 2027

  • Published On: 12-Jan-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA1220024
    Delivery: 2 to 4 Hours
INFOGRAPHIC:
India Bearings Market

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REPORT SCOPE

Report AttributeDetails
Market Size Value in 2021US$ 1,772.6 Mn
Expected Revenue in 2027US$ 3,374.4 Mn
Historic Data2017-2020
Base Year2021
Forecast Period2022-2027
UnitValue (USD Mn)
CAGR10.9%
Segments coveredProduct, Size, Material, Application, and Region
Key CompaniesSKF India Ltd., Schaeffle, Timken India Limited, NRB Bearings Limited, and other prominent players.
Customization ScopeGet your customized report as per your preference. Ask for customization

FREQUENTLY ASKED QUESTIONS

India bearings market size was estimated at US$ 1,772.6 Mn in 2021.

Bearings are used in automobile to ensure smooth running of cars, electric vehicles (EVs), and other type of vehicles such as light weight commercial vehicles and heavy vehicles such as trucks. Therefore, the demand for bearing increases with the rise in the production of automobiles. The India Bearing Market is projected to witness a jump in revenue to US$ 3,374.4 by 2027, registering a CAGR of 10.9%.

The study period for the India bearing market is 2017-2027. 

The India bearing market is segmented into four categories, namely – by product, by size, by material and by application.

Two key factors driving the market for bearings in India are (1) Government initiatives to drive the manufacturing sector in India (2) Rising utilization of bearing in motor, demand of automotive electrification

One challenge in the market is the threat of low-cost and counterfeit products.

The roller bearings segment dominated the global market and accounted for the largest revenue share of more than 41.5% in 2021. 

Specialty steel alloys is expected to grow the highest with a CAGR of 10.9% by 2027.

The automotive segment dominated the bearings market in India and held the highest revenue share of 46.6% in 2021.

The key players in the India bearing market are SKF India Ltd, Schaeffle, Timken India Limited, NRB Bearings Limited, National Engineering Industries Ltd. and JTEKT India Limited among others.

Primary and secondary research was undertaken and further, PESTLE Analysis and Porter’s Five Forces Analysis were conducted to identify strengths, weaknesses and potential threats. 

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