Latest News- Bearings Market in India: Automotive industry is expected to lead the End-user segment during 2025-2029

The Bearings Market in India is being driven by Increase in focus on automation

The Bearings Market in India is expected to grow at a CAGR of 3.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 853.9 million. Additive manufacturing, or 3D printing, is revolutionizing the bearing industry in India by offering numerous advantages over traditional manufacturing methods. Key drivers of this adoption include reduced manufacturing costs, expedited production times, and the ease of upgrading products. Additionally, additive manufacturing's low energy consumption and minimal waste generation further enhance its appeal. Notable companies in India's bearing market are embracing this technology to streamline their processes, decrease inventory costs, and produce lighter components. By eliminating the complexities of conventional manufacturing and reducing the number of parts required, additive manufacturing offers significant cost savings and efficiency gains. 

Get more information on Bearings Market in India by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive industry
  • Heavy industry
  • ARS industry
  • Others
• Product
  • Anti-friction bearings
  • Magnetic bearings
  • Others
• Product Type
  • Ball bearings
  • Roller bearings
  • Plain bearings
  • Others
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in focus on automation
• Increasing demand for bearings from heavy industries
• Increasing production of electric vehicles

However, the market also witnesses some limitations, which are as follows:

• Fluctuation in raw material prices of bearings
• Penetration of counterfeit and used bearing products
• Slowdown in automobile sales worldwide

Benefits of Buying Global Bearings Market in India Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Bearings Market in India Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Indian bearing market caters to various sectors including automobile, farm equipment, defense, aerospace, and household appliances, with a focus on maintenance requirements and specialized solutions. Wind turbines and turbine performance are significant applications, with inner and outer rings playing crucial roles. High-performance bearings like chrome steel anti-friction, magnetic, smart, and high-precision bearings are in demand. OEM sales and aftermarket demand are driven by sectors like automotive, with roller and ball bearings being commonly used.

Market Research Overview

The Bearings Market in India is a significant segment of the larger industrial machinery and supplies and components market, encompassing companies that manufacture roller bearings and other specialized bearing solutions for various industries. This market caters to sectors such as automobile, farm equipment, household appliances, defense, aerospace, maintenance requirements, wind turbines, and more. According to Technavio, the global industrial machinery and supplies and components market is projected to grow due to increasing industrial production in developing countries, particularly in the process and discrete industries. This expansion is driven by the rising demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages, leading to capacity additions and the subsequent need for advanced machinery and components, including bearings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/