According to the recent study the electric vehicle bearing market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing demand for electric vehicles, growing preference for high-speed electric vehicle bearings, and increasing adoption of ligh weight vehicles.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in electric vehicle bearing market by propulsion (battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle), application (gearbox/transmission, motor, e-axle, wheel, and others), vehicle (passenger vehicle and commercial vehicle), sales channel (OEM and aftermarket), product (roller bearing, ball bearing, and composite bearing), material (steel, ceramic, polymer, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Battery electric vehicle market is expected to remain the largest segment during the forecast period.”
Based on propulsion, the electric vehicle bearing market is segmented into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Lucintel forecasts that the battery electric vehicle market is expected to remain the largest segment due to the growing support of various government agencies by enforcing quota systems and rising strict rules for fuel economy.
“Within the electric vehicle bearing market, the passenger segment is expected to remain the largest vehicle type”
Based on vehicle type the passenger segment is expected to witness the highest growth over the forecast period due to the growing adoption of electric variant in passenger vehicles and rising passenger vehicle production and sales are influencing demand for electric vehicle bearings.
“Asia pacific will dominate the electric vehicle bearing market in near future”
APAC will remain the largest region due to the rising electrification demand, changing prices of the raw material and continuous technological development by producers in the region.
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Major players of electric vehicle bearing market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. NSK, AB SKF, NTN Corporation, JTEKT Corporation, The Timken Company, Schaeffler Technologies AG & Co. KG, and NBC Bearings are among the major electric vehicle bearing providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/electric-vehicle-bearing-market.aspx or [email protected]