Global Roller Bearings Market 2017-2021

Overview of the global roller bearings market

Technavio’s market research report predicts that the global roller bearings market will post a CAGR of above 4% during the forecast period. The rising demand for passenger cars in one of the primary drivers for market growth. In countries like India and China, the automotive sales are foreseen to increase and contribute significantly to the growth of the market. In addition, the revival of the US economy is also observed to accelerate the sales of automobiles. Fast-growing urbanization, improved road infrastructure, rising personal mobility needs, and consumer preference for new models with increased fuel efficiency and low emissions have increased the demand for passenger vehicles in the Asian market. This rising sale of passenger cars will subsequently accelerate the growth of the roller bearings market.

The rising interest in electric vehicles (EVs) has induced the manufacturers to introduce new electrical vehicles with enhanced technology. The US aims to be the global leader in the future vehicle technologies and is looking to reduce its reliance on petroleum products for transportation with the financial incentives and R&D support. With the support from the government in terms of subsidies and the improving battery technology, countries such as China are also witnessing massive growth in the EV market. The major electric car manufacturing company Tesla introduced a high-performance supercar called Roadster. The company directly invested the revenue generated from sales of Roadster in R&D activities to produce a wide range of affordably priced cars. Such investments in the future technologies will be one of the major trends that will gain traction in the market in the next four years.

Competitive analysis and key vendors