Automotive Bearing Seals Market Size By Vehicle (Passenger Cars, LCV, HCV), By Application (Engine, Differential Gears, Wheel, Steering, Water Pump, Transmissions), By Seal Type (Dust Seal, Oil Seal, Pack Seal), By Sales Channel (OEM, Aftermarket), COVID-19 Impact Analysis, Regional Outlook, Application, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Nov 2021  |  Report ID: GMI5150  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 300   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Bearing Seals Market size exceeded USD 749.9 million in 2020 and is estimated to exhibit 4.2% CAGR from 2021 to 2027. The industry demand is anticipated to cross 1,808,143.3 thousand units by 2027. Automotive bearing seals provide sealing for wheels, steering, and belt tensioners. Compounds, friction surfaces & lubricants are chosen and designed to lower energy consumption. Bearing seals protect automotive component bearings against the intrusion of foreign matter such as dust, muddy-water, or anti-freezing agents including calcium chloride even when corrosion occurs at the peripheral portions of seal fittings. Furthermore, bearing seals are operational under extreme abrasive actions, tremendous loads, severe temperature variations, and corrosive conditions.
 

Automotive Bearing Seals Market

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Automobile OEM producers are developing methods to boost the efficiency of bearings and enhance their overall performance. This move will encourage automotive bearing seal manufacturers to directly supply to automotive OEM manufacturers and invest in research activities for improving the performance of bearing seals. The increasing production & sales of passenger cars, LCVs, and HCVs will drive the market growth. Moreover, technological innovations and research activities will induce immense potential in the automotive bearing seals industry demand.
 

Increasing range for e-vehicles

Government policies and stringent fuel efficiency & emission regulations along with increasing customer demand have enabled the Electric Vehicles (EVs) market to boom. The automobile industry is going through a technological transformation from ICE to EV. This transformation is placing new specification challenges on the use of bearings seals, thereby impacting tier one & two automotive component manufacturers and suppliers of both EVs & ICEs. EVs do not have engines and conventional transmission systems, negatively impacting the automotive bearing seals market.
 

Growing road transport and logistics to support HCV penetration

The HCV vehicle segment is predicted to generate around USD 60 million revenue by 2027. The increasing penetration of bearing seals in luxury buses and coaches, mainly in emerging countries, will spur the industry growth. The growing road transport and logistics industries across Asia Pacific and Latin America will fuel the demand for HCVs. However, increasing requirements for HCVs due to high ground clearance and payload capacity for passengers & cargo transport in multiple terrain conditions are estimated to positively impact the market demand.
 

The transmission segment to hold a significant share

Automotive Bearing Seals Market By Application

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The transmission segment is expected to account for about 15% of the automotive bearing seals market share by 2027. Various types of bearings are used together in a component/ equipment. The lubricating oil in the bearing installed in transmission components gets contaminated from dust and materials that wear from gears. The bearings need to be resistant to such contaminants to ensure proper functioning. Since leakages and contaminations are major reasons for seal failures, the retention of fluids within the system and the exclusion of external contaminants are key concerns. Sealing designs include conventional shaft seals with garter springs and seals with low-friction elastomer sealing lips, depending on the applications and operating conditions.
 

The oil seal segment to capture a major share

The oil seal segment is likely to surpass more than USD 450 million by 2027. Oil seals are mostly used in transmission, steering, and gear applications. Oil seal is also referred to as dirt, fluid, or grease seal and is mostly used for retaining oil or grease in a housing or case. Oil seals close the space between moving and stationary parts in a bearing, preventing the escape of lubricants. Another critical function of an oil seal is to prevent harmful containments from entering the automotive bearings.
 

Large automotive industry in Europe

Automotive Bearing Seals Market By Region

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Europe automotive bearing seals market demand is set to reach over 350 million units by 2027. This can be primarily attributed to the large automotive production across the region. The ongoing COVID-19 pandemic slowed down the market owing to lockdowns in various European countries including the UK, France, and Italy, however, despite the forced lockdowns, the Hybrid Electric Vehicles (HEV) observed substantial growth. For instance, according to the European Automobile Manufacturers Association (ACEA) report for 2020, hybrid electric vehicles sales in Europe were about 1.1 thousand units.
 

Competitive Analysis

Some of the key manufacturers in the industry are SSP Manufacturing Inc., SKF Bearings, The Timken Company, JTEKT Corporation, Clark Seals, France Joint, Ashutosh Rubber Pvt Ltd., Well Oil Seal Industrial Co., Ltd., NSK Ltd., and C&U Group Company Limited.
 

The market is consolidated with the five major players accounting for more than three-fourths of the global industry. Major companies are engaged in partnerships with automotive vehicle manufacturers to gain a competitive edge over other companies. With the increasing demand for bearings in various automotive applications, many manufacturers are investing in these technologies to gain a competitive advantage. Manufacturers compete through product innovations and geographic expansion via mergers & acquisitions of smaller firms to expand their global presence.
 

This automotive bearing seals market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units and revenue in USD million from 2017 to 2027 for the following segments

Market, By Vehicle

  • Passenger cars
  • LCV
  • HCV

Market, By Application

  • Engine
  • Differential gears
  • Wheel
  • Steering
  • Water pumps
  • Transmissions

Market, By Seal Type

  • Dust seal
  • Oil seal
  • Pack seal
  • Others

Market, By Sales Channel

  • OEM
  • Aftermarket

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Russia
    • Poland
  • Asia Pacific
    • China
    • Japan
    • India
    • Malaysia
    • South Korea
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Turkey
    • South Africa
    • Iran

 

Frequently Asked Questions (FAQ) :

The market size of automotive bearing seals crossed USD 749.9 million in 2020 and is projected to grow at 4.2% CAGR till 2027 as automakers focus on improving vehicle performance.
Automotive bearing seals demand from the HCV segment could be worth USD 60 million by 2027 due to the expansion of road transport and logistics industries in emerging economies.
Europe could generate a demand for over 350 million units by 2027 due to the increasing volume of automobile production.
SSP Manufacturing Inc., SKF Bearings, The Timken Company, JTEKT Corporation, Clark Seals, France Joint, Ashutosh Rubber Pvt Ltd., Well Oil Seal Industrial Co., Ltd., NSK Ltd., and C&U Group Company Limited are among the leading manufacturers of automotive bearing seals.

Premium Report Details

  • Published Date: Nov 2021
  • Pages: 300
  • Tables: 294
  • Charts / Figures: 45
  • Companies covered: 25
  • Countries covered: 21

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