India Automotive Bearing Market to Surpass $2.3 Billion by 2021
Favorable government initiatives coupled with
increasing automobile sales, expanding vehicle fleet and growing exports to
drive India automotive bearings market through 2021
According to a recently released TechSci
Research report, “India Automotive Bearings Market, By Type, By Vehicle Type, Competition Forecast &
Opportunities, 2011 – 2021”,
the automotive bearings market in India is anticipated to cross $2.3 Billion by
2021, on account of strong domestic automobile demand, rapidly expanding
automobile fleet, favorable government policies coupled with planned capacity
expansions by major automobile OEMs. Further, the launch of Automotive Mission
Plan, 2016-2026, is expected to result in a robust increase in production of
automobiles in the country, thereby expected to boost the demand for automotive
bearings in India over the next five years.
According
to the Department of Industrial Policy & Promotion, Foreign Direct
Investments (FDIs) in the country’s automotive sector increased from USD1.52
billion in FY2013-14 to USD2.73 billion in FY2014-15, exhibiting a Y-o-Y of
around 80%. Increase in FDIs in automobile sector is poised to drive vehicle
sales and production in the country over the next five years, thereby positively
influencing India automotive bearings market during 2016-2021.
Customers can also request for 10% free customization on this report.
“During
2011 – 2015, two-wheeler segment dominated the country’s automotive bearings market,
followed by passenger car segment. Two-Wheeler segment is expected to maintain
its dominance in India automotive bearings market as well, on account of
increasing production as well as sales of two-wheelers in the country. Deep grove
ball bearing angular is the most preferred type of automotive bearings in India.
Some of the major companies operating in India automotive bearings market are
SKF India Ltd., NBC Bearings, FAG Bearings India Limited, Timken India Limited,
ABC Bearings Limited and Tata Bearings, among others.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Automotive Bearings Market, By
Type, By Vehicle Type, Competition Forecast & Opportunities, 2011 – 2021” has analyzed the potential of India automotive bearings market, and provides statistics and
information on market sizes, shares and trends. The report will suffice in
providing intending clients with cutting-edge market intelligence and help them
in taking sound investment decisions. Besides, the report also identifies and
analyzes emerging trends along with essential drivers and key challenges faced
by the industry.
About
TechSci Research
TechSci Research is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research
studies, TechSci Research is serving clients across 11 different industrial
verticals. TechSci Research specializes in research based consulting
assignments in high growth and emerging markets, leading technologies and niche
applications. Our workforce of more than 100 fulltime Analysts and Consultants
employing innovative research solutions and tracking global and country
specific high growth markets helps TechSci clients to lead rather than follow
market trends.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]