Mexico Bearings Market (2023-2029) | Outlook, Size, Analysis, Trends, Industry, Share, Growth, Revenue, Value, Segmentation & COVID-19 IMPACT

Mexico Bearings Market | Country-Wise Share and Competition Analysis

In the year 2021, Italy was the largest exporter in terms of value, followed by China. It has registered a growth of 76.83% over the previous year. While China registered a growth of 23.3% as compared to the previous year. In the year 2017, Italy was the largest exporter followed by the USA. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Mexico has a Herfindahl index of 2068 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  2677 which signifies a high concentration in the market.

Topics Covered in the Mexico Bearings Market Report

The Mexico Bearings Market report thoroughly covers the market by product and application. The report provides an unbiased and detailed analysis of the ongoing 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.

Mexico Bearings Market Synopsis

The Mexico Bearings Market is likely to grow at a tremendous growth rate over the forecast period on the back of the thriving aerospace, automotive, and medical device industries and initiatives taken by the nation’s government.

According to 6Wresearch, Mexico Bearings Market size is projected to expand significantly during 2023-2029. The sector is one of the dynamic sectors which faces both growth as well as challenges in equal measure. The country’s status as one of the major manufacturing centers in the region is one of the key drives behind the growth of the market. The aerospace, automotive, and medical device sectors are propelling in the country, which fuels the demand for bearings in the country. The government of the nation is constantly supporting the market to grow more, which helps in the progression of the market. Competition from low-cost nations like India, China, and Vietnam is one of the major challenges for the Mexico Bearings Market Growth since these nations offer lower-priced options to the consumer in Mexico which lowers the demand for Mexican-produced bearings in the country. Fluctuation in the cost of raw materials is another major challenge for the market. The market has every potential to come out of the challenges which are hindering its growth.

COVID-19 Impact on Mexico Bearings Market

The outbreak of the COVID-19 disease adversely affected the Bearings Market in Mexico attributed to the fact that the government imposed restrictions on movement and strict lockdown in the country, which led to a halt in manufacturing activities and as a result, there was a significant decrease in demand for bearings in the country. One of the major consumers of bearings is the automotive sector and this sector was hit hard by the pandemic, which affected the demand and sales of bearings. Another major impact was felt in international exports and trade since a number of countries imposed restrictions on imports from other countries. The market is one of the vital parts of the Latin America Bearings Market, and this market was also affected by the pandemic.

Key Players in Mexico Bearings Market

Some of the prominent players in the market that aids in the success of the market include:

• SKF AB
• NTN Corporation
• Timken Company
• Schaeffler AG 

Market by Product

According to Dhaval, Research Manager, 6Wresearch, the roller bearings segment accounted for the highest growth and it is projected to dominate the market for bearings in Mexico.

Market by Application

In terms of application, the Mexico Bearings Industry is divided into Automotive, Agriculture, Electrical, Mining & Construction, Railway & Aerospace, Automotive Aftermarket, and Others. The automotive segment is likely to dominate the market since the automotive sector is the largest consumer of bearings in the country.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Mexico Bearings Market Outlook
• Market Size of Mexico Bearings Market, 2022
• Forecast of Mexico Bearings Market, 2029
• Historical Data and Forecast of Mexico Bearings Revenues & Volume for the Period 2019 - 2029
• Mexico Bearings Market Trend Evolution
• Mexico Bearings Market Drivers and Challenges
• Mexico Bearings Price Trends
• Mexico Bearings Porter's Five Forces
• Mexico Bearings Industry Life Cycle
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Product for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Ball Bearings for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Roller Bearings for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Automotive for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Agriculture for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Electrical for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Mining & Construction for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Railway & Aerospace for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Automotive Aftermarket for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Bearings Market Revenues & Volume By Others for the Period 2019 - 2029
• Mexico Bearings Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Application
• Mexico Bearings Top Companies Market Share
• Mexico Bearings Competitive Benchmarking By Technical and Operational Parameters
• Mexico Bearings Company Profiles
• Mexico Bearings Key Strategic Recommendations

Market Scope and Segmentation

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

By Product

• Ball Bearings
• Roller Bearings

By Application

• Automotive
• Agriculture
• Electrical
• Mining & Construction
• Railway & Aerospace
• Automotive Aftermarket
• Others