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Automotive Bearing Seals Market Size

Report ID: GMI5150
Published Date: Nov 2021
Report Format: PDF

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Automotive Bearing Seals Market Size

Automotive Bearing Seals Market size exceeded USD 749.9 million in 2020 and is estimated to exhibit 4.2% CAGR from 2021 to 2027. The industry demand is anticipated to cross 1,808,143.3 thousand units by 2027. Automotive bearing seals provide sealing for wheels, steering, and belt tensioners. Compounds, friction surfaces & lubricants are chosen and designed to lower energy consumption. Bearing seals protect automotive component bearings against the intrusion of foreign matter such as dust, muddy-water, or anti-freezing agents including calcium chloride even when corrosion occurs at the peripheral portions of seal fittings. Furthermore, bearing seals are operational under extreme abrasive actions, tremendous loads, severe temperature variations, and corrosive conditions.

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Automobile OEM producers are developing methods to boost the efficiency of bearings and enhance their overall performance. This move will encourage automotive bearing seal manufacturers to directly supply to automotive OEM manufacturers and invest in research activities for improving the performance of bearing seals. The increasing production & sales of passenger cars, LCVs, and HCVs will drive the market growth. Moreover, technological innovations and research activities will induce immense potential in the automotive bearing seals industry demand.

Automotive Bearing Seals Market Report Attributes
Report Attribute	Details
Base Year:	2020
Automotive Bearing Seals Market Size in 2020:	749.94 Million (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	4.2%
2027 Value Projection:	934.04 Million (USD)
Historical Data for:	2017 to 2020
No. of Pages:	300
Tables, Charts & Figures:	339
Segments covered:	Vehicle, Application, Seal Type, Sales Channel and Region
Growth Drivers:	Increasing focus on maintenance-free and extremely lightweight bearings Growth in passenger vehicle sales across Asia Pacific Increasing automotive production & presence of auto players in Latin America
Pitfalls & Challenges:	Energy-efficient and environmental manufacturing norms Increasing range for e-vehicles

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Increasing range for e-vehicles

Government policies and stringent fuel efficiency & emission regulations along with increasing customer demand have enabled the Electric Vehicles (EVs) market to boom. The automobile industry is going through a technological transformation from ICE to EV. This transformation is placing new specification challenges on the use of bearings seals, thereby impacting tier one & two automotive component manufacturers and suppliers of both EVs & ICEs. EVs do not have engines and conventional transmission systems, negatively impacting the automotive bearing seals market.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive bearing seals crossed USD 749.9 million in 2020 and is projected to grow at 4.2% CAGR till 2027 as automakers focus on improving vehicle performance.

Automotive bearing seals demand from the HCV segment could be worth USD 60 million by 2027 due to the expansion of road transport and logistics industries in emerging economies.

Europe could generate a demand for over 350 million units by 2027 due to the increasing volume of automobile production.

SSP Manufacturing Inc., SKF Bearings, The Timken Company, JTEKT Corporation, Clark Seals, France Joint, Ashutosh Rubber Pvt Ltd., Well Oil Seal Industrial Co., Ltd., NSK Ltd., and C&U Group Company Limited are among the leading manufacturers of automotive bearing seals.