Global Automotive Steering Bearings Market 2017-2021 - Threat of Low-Cost and Counterfeit Products Present Market Challenges

The global automotive steering bearings market to grow at a CAGR of 3.02% during the period 2017-2021.

Global Automotive Steering Bearings Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is application of advanced ceramic materials for bearings. Bearing manufactures are continuously upgrading and experimenting with new materials to meet the required expectation of customers. Ceramic bearing is made of silicon nitride (Si2N4) or white zirconia oxide (ZrO2), or, in some special applications, even a combination of both is used.

According to the report, one driver in the market is increasing vehicle production. The global automotive market showed robust growth, with 94.29 million units (passenger cars, LCVs, and M&HCVs) produced in 2016. This is an increase of 5.07% compared to 2015, and the global automotive market showed its strength despite uncertainties in the market. The growth of the automotive market declined in Japan, Russia, and Brazil, but the market overcame the shortcoming with the sales in China, India, and Europe.

Further, the report states that one challenge in the market is threat of low-cost and counterfeit products. Counterfeit is growing rapidly globally. Bearing is one of the popular counterfeiting items, and it is expected to exceed $103 billion by 2018 due to its high consumption in the market. Companies such as SKF and NSK are among the companies that are more prone to this threat. Such fake bearings are dangerous due to the possible design failures that may occur, leading to machine damage and injuries. NSK and SKF websites have presented several examples of counterfeit bearings, which affect the plant's downtime and risk the lives of employees.

Key vendors

Other prominent vendors

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Application

Part 07: Regional Landscape

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

Part 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/kt3dsp/global_automotive

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