Global Market Study on Automotive Bearing: China Set to Overtake Europe; Global Revenues to Exceed U

Krazymedia28 Jan, 2023Business

The US$ 18.47 Bn global automotive bearing market is apprehended to experience moderate growth over 2018-2026 at a CAGR of 4.4% and attain a value worth US$ 27.02 Bn by the end of an eight-year forecast period. In addition to flourishing automotive industry worldwide, it has been observed that increasing average vehicular age will prominently fuel the demand for repairing, maintenance, and replacement of automotive components ? in turn fostering the sales of automotive bearings. Surging fleet is rapidly putting forth the aftermarket demand for automotive bearings, which is identified to be another key driver to market growth.