India Bearings Market (2019-2025) | Trends, Size, Revenue, Analysis, Forecast, Growth, industry & Outlook

Latest 2023 Development of the India Bearings Market

India Bearings Market has been growing rapidly in recent years by the increasing demand for bearings in various industries such as construction, automotive, and industrial machinery. Some of the latest development in the market is the expansion of the automotive industry which in turn increases the demand for bearings in the country. Many leading global manufacturers have set up their production facilities in India to tap into the growing market for bearings. Additionally, the construction industry in India is also expanding, which is leading to an increase in the demand for bearings in construction machinery. The government has launched several initiatives to boost the manufacturing sector in the country which is expected to further drive the growth of the bearings market in India.

The demand for industrial bearings is growing in India by the growing use of industrial machinery in several industries. The bearings industry in India is also witnessing technological advancements, with manufacturers focusing on developing bearings with improved performance and reliability. The market for bearings is expected to grow significantly. The growth is attributed to the growing demand from various industries and the government's initiatives to promote the manufacturing sector.

India bearings market Synopsis

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 coronavirus 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