Published Date: 2021-12-01
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APAC Automotive Bearing Seal Market size is estimated to reach USD 500 million by 2027, according to a latest forecast report by Graphical Research. Automotive vehicle requires bearings for the smooth functioning of moving parts. The major benefits of bearings are enhancement of vehicle performance, reduced friction and heavy load bearing. The bearing seals are used in engines, gearboxes, transmissions, wheels, steering, motors, and pumps in the automotive industry.
The growing demand for lightweight and durable bearings from the automotive industry is encouraging prominent bearing manufacturers, such as SKF, Schaeffler, and NRB Bearings, to focus on adopting new raw materials instead of the traditional high-grade steel. The vendors are increasingly spending on R&D for the development of lightweight technology. To reduce the weight of the vehicles without affecting their functionality, auto component makers are coming up with bearing seals made from lightweight materials.
The passenger cars segment is estimated to account for over half of the automotive bearing seal market size. The dominance is attributed to the increasing passenger car sales in the past few years and the demand from the OEM segment. In emerging countries including as India, Indonesia, and Mexico, among others, the potential for bearing seal sales is enormous and is expected to increase significantly as the proportion of passenger cars fitted with various bearings in different components increases. Such modifications enable smooth operations and lower the friction of bearings. In terms of volume, in 2019, passenger cars held nearly 80% share of the Asia Pacific automotive production.
Browse detailed statistical insights from the report, “Asia Pacific Automotive Bearing Seals Market Forecast 2027 By Vehicle (Passenger Cars, LCV, HCV), By Application (Engine, Differential Gears, Wheel, Steering, Water Pump, Transmissions), By Seal Type (Dust Seal, Oil Seal, Pack Seal), By Sales Channel (OEM, Aftermarket), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/2022/asia-pacific-automotive-bearing-seals-market
The COVID-19 pandemic has considerably impacted global automotive production in 2020 and 2021 due to forced lockdowns and shortage of chips, the automotive industry has witnessed a significant growth. For instance, according to the China Association of Automobile Manufacturers (CAAM), China alone produced around 3.7 million commercial vehicles and 13.2 million passenger cars from January to September 2020, driving the automotive bearing seal market growth.
The oil seal segment dominated over 50% market share in 2020. Oil seal mostly used in transmission, steering and gear application. Oil seal is also called as dirt, fluid or grease seal, is mostly used for retaining oil or grease in a housing or case. Oil seals helps close spaces between moving and stationary parts in a bearing, preventing the escape of lubricants. Another critical function of the oil seal is to prevent harmful containments from entering the automotive bearing.
The water pump segment is set to grow at a CAGR of 5.5% over the projected timeframe. Water pump bearings are installed in vehicle water pump for the circulation of chilled water in the automotive vehicle engine. Water pump bearings has double-row bearings sealed; it also has wide gap between the two rows of rolling part of the bearing. Water pump bearing provides a higher service life owing to the use of seals. It offers higher performance with significant heat & water resistance.
The aftermarket is anticipated to witness an extensive growth during the forecast period owing to increasing consumer preference for a smooth driving experience and the use of bearing seals to maximize the working life of the bearings and lower the friction. Aftermarket players also provide product customizations including design alterations in bearing seals as per customer requirements.
The APAC automotive bearing seal market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Vehicle type
Asia Pacific Market, By Application
Asia Pacific Market, By Seal Type
Asia Pacific Market, By Sales Channel
The above information has been provided for the following countries:
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