LONDON--(BUSINESS WIRE)--The global automotive performance engine bearings market is expected to grow at a CAGR of more than 6% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global automotive performance engine bearings market for 2017-2021. The market is further categorized into two segments based on application including, high to extreme load and low to medium load engine bearings.
Technavio’s research analysts segment the global automotive performance engine bearings market into the following regions:
- Americas
- APAC
- EMEA
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Americas: largest automotive performance engine bearings market
North America attracts a large market for performance automotive engine development and research in the aftermarket as well as at OEM levels. NASCAR, INDYCAR racing, Formula One, drag race and street racing events are very popular in the region and they are driving the growth of the performance engine bearings market. The major vendors in the high-performance engine bearing market in the region are King Engine Bearings and ACL Race Series. These vendors deal with motorsports and high-performance engine bearings categories.
“In 2016, the market share of performance engine bearing for super and luxury vehicles was the highest in the Americas. On an average, the pickups and SUV market in the US observes sales of 7-9 million units annually. The US market is dominating the Americas in terms of technology, innovation, research, and volumes in the automotive industry,” says Amey Vikram, a lead automotive components research expert from Technavio.
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Automotive performance engine bearings market in EMEA
The European nations are the center of automotive technological innovation from the early era of development. The automotive OEMs such as Mercedes-Benz, BMW, Volkswagen, Volvo, Pagani, Ferrari, Automobili Lamborghini, Porsche, McLaren, and Jaguar Land Rover all are based in Europe. These drive the performance and motorsports domains in EMEA. The performance engine bearing is an essential part of the high-performance engine assembly. The aftermarket modification and upgrades also contribute to the consumption of the performance engine bearing technology.
“The automotive industry is at the peak of performance R&D in Europe. Germany is the country that contributes the most to the development and innovation of the performance technology. It is known as the automotive capital of the world because it is home to the leaders of luxury segment vehicles such as Mercedes-Benz, Audi, and BMW. Italy and France support the world supercars and hypercar brands such as Ferrari, Automobili Lamborghini, Pagani Zonda, Alfa Romeo, and Koenigsegg,” says Amey.
Automotive performance engine bearings market in APAC
Performance products find low consumption in APAC as the region typically comprises developing countries. The countries that exhibit most of the demand for performance products are Australia, Japan, and China. Australia and Japan are the home of performance products development as many major technological innovations taking place in these regions. China is one of the leading countries that contributed to about 29% of the global automotive vehicle production in 2016. China's performance product manufacturing for export and internal utilization are approximately the same.
Technavio predicts that the performance markets in countries such as China, India, Japan, and Australia would rise exponentially during the forecast period, driving the performance and luxury vehicle technology markets.
The top vendors in the global automotive performance engine bearings market as highlighted in this market research analysis are:
- MAHLE
- King Engine Bearings
- Timken
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