Latest 2021 Developments

India Bearings Market has seen the latest developments which include the introduction of customized bearings for different purposes. Tailored bearings help meet specific requirements in various applications: weaving looms, agriculture machinery, vacuum pumps, and turbochargers, among others. Bearing manufacturers have started to adopt new raw materials instead of high-grade steel to meet the demand for lightweight and durable bearings for the automotive industry. Some companies have also started to manufacture automotive bearings with alloys that are 10%-12% lighter than traditional bearings made from high-grade steel. The recent introduction of production-linked incentive (PLI) schemes for automotive components by the government of India has played a crucial role in attracting global players to set up manufacturing facilities in India.

Mergers and Acquisitions:

• On December 1, 2020, The Timken Company acquired the assets of Aurora Bearing Company
• On August 20, 2021, The Timken Company acquired Intelligent Machine Solutions.

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The India bearings market is highly fragmented owing to the presence of a large number of players including major companies in the industry.  The growth of the bearing market is directly correlated with the growth in the automotive and industrial sectors. Further, the increasing requirement for high-performance, lightweight smart bearings in automobiles coupled with the requirement of anti-friction bearings in pumps, gearboxes, heavy earth moving equipment, and industries are expected to contribute to the rise in demand for bearings in India. However, the domestic bearings market is facing competition from the counterfeit bearings market, primarily imports from China which would in turn hinder the market growth.

According to 6Wresearch, India Bearings Market size is projected to grow at a CAGR of 2.6% during 2019–2025. due to the growing demand for specialized bearing solutions and improved designs to increase product performance and efficiency. However, the outbreak of the corona virus pandemic would impact the automotive and other industries affecting the bearings market over the coming years, though the effects might be short-lived.

The key role of bearings in the transmission of energy to a few rotating parts is adding to the India Bearings Market Share. The introduction of high-capacity bearings will also enhance the development of the market.

The railway & aerospace application of bearings is expected to exhibit rapid growth over the next few years due to surging demand for small aircraft and increasing railway construction in the country. Other major end-user applications of the bearings market include automotive machinery, construction machinery, agricultural machinery, and oilfield equipment.

Some of the key players in the India bearings market are JTEKT, SKF, NTN Corporation, Timken, NSK Global, Schaeffler Group, and Others. The India bearings market report thoroughly covers the market by types, sales channels, and applications. The India bearings market outlook report provides an unbiased and detailed analysis of the ongoing India bearings market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report

• India Bearings Market Overview
• India Bearings Market Outlook
• India Bearings Market Forecast
• India Bearings Market Size and Historical Data of India Bearings Market Revenues for the Period 2015-2018
• India Bearings Market Forecast of Revenues, Until 2025
• Historical Data of India Bearings Market Revenues for the Period 2015-2018, By Types
• Market Size & Forecast of India Bearings Market Revenues Until 2025F, By Types
• Historical Data of India Bearings Market Revenues for the Period 2015-2018, By Roller Bearing Types
• Market Size & Forecast of India Bearings Market Revenues Until 2025F, By Roller Bearing Types
• Historical Data of India Bearings Market Revenues for the Period 2015-2018, By Sales Channels
• Market Size & Forecast of India Bearings Market Revenues Until 2025F, By Sales Channels
• Historical Data of India Bearings Market Revenues for the Period 2015-2018, By Applications
• Market Size & Forecast of India Bearings Market Revenues Until 2025F, By Applications
• India Bearings Market Drivers
• India Bearings Market Restraints
• India Bearings Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Bearings Market Share, By Players
• India Bearings Market Share, By Countries
• India Bearings Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Covered:

The report provides a detailed analysis of the following market segments:

By Types:

• Ball Bearings
• Roller Bearings
• Other Bearings (Pillow block, Mounted, etc.)

By Roller Bearings Types:

• Cylindrical Roller Bearings
• Tapered Roller Bearings
• Spherical Roller Bearings
• Needle Roller Bearings
• Other Roller Bearings

By Sales Channels:

• OEM’s
• Aftermarket Sales

By Applications:

• Aerospace & Railway
• Agricultural Equipment Machinery
• Mining & Oilfield Equipment Machinery
• Automotive Machinery
• Construction Machinery
• Other Machinery

Other Key Reports Available:

• Europe Bearings Market Report
• Africa Bearings Market Report
• Saudi Arabia Bearings Market Report
• Turkey Bearings Market Report