According to the research report titled ‘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’, available with MarketStudyReport, global automotive bearing seals market is slated to witness stellar growth over the forecast period 2021-2027.

As per report findings, factors such as growing focus on lightweight & maintenance-free bearings, increase in sales of passenger vehicles, and growing automotive manufacturing activities across several regions are primarily driving global automotive bearing seals market growth.

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Despite the positive outlook, increasing range for electric vehicles, and adoption of new energy efficient as well as environment friendly norms are likely to impede the market remuneration scope over the forecast period.

Considering vehicle segmentation of worldwide automotive bearing seals industry, the LCV segment is poised to expand at 4% CAGR over the analysis timeframe. This can be credited to expansion of public transportation facilities in developing countries, and growing adoption of bearings in vans and pickup trucks.

Moving on to application scope, the wheel segment is anticipated to capture over 25% of industry revenue share by 2027. Wheel bearings allow smooth rotation with minimum friction, while being a critical safety component in vehicles for managing forces like acceleration, braking, gravitation, and others. These components need to be replaced if not working properly.

Speaking of the geographical scope, Middle East & Africa industry is touted to record a CAGR of 3.5% over the forecast timeline. Automobile component distributors are constantly focusing on balancing opportunities against risks posed from legal conditions, possible OEM dependencies, and potential political instabilities, which is likely to propel regional market growth in the upcoming years.

Prominent companies operating in global automotive bearing seals market are Well Oil Seal Industrial Co. Ltd., Uchiyama Manufacturing Corp., Ashutosh Rubber Pvt. Ltd., NSK Ltd., France Joint SAS, Hutchinson S.A., Clark Seals, JTEKT Corp., The Timken Co., AB SKF, and SSP Manufacturing Inc. among others.