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What is the Bearing Market Size & Growth Rate in India?

The industry is experiencing tremendous growth, bolstered by surging demand from the automotive, railways, and heavy machinery sectors. Apart from this, increasing manufacturing output, supportive government investments in infrastructure, and the expansion of industrial automation are further contributing to market growth.

Key Growth Factors in the India Bearing Market

• Demand from sectors such as railways, automotive, and heavy machinery.
• Accelerating infrastructure projects under government initiatives like Gati Shakti.
• Surge in aftermarket demand for replacement bearings in older machinery.
• Growth in capitalization in railway modernization and freight corridors.
• Demand from sectors such as railways, automotive, and heavy machinery.
• Development of the automotive industry, especially in electric and hybrid vehicles.
• Localization of bearing manufacturing reinforced by 鈥淢ake in India鈥� policy.

India Bearing Market Trends聽

India bearing market is expected to grow with several major trends.聽 For instance, rise of smart bearings embedded with sensors for predictive maintenance. Local sourcing and production are also gaining traction to diminish import dependence. Also, the use of energy-efficient and lightweight materials in bearing production is likely to become a prominent trend in line with sustainability goals.

Major Companies in the India Bearing Industry

• Timken India Ltd.
• NRB Bearings Ltd.
• National Engineering Industries Ltd.
• SKF India Ltd.
• Schaeffler India

Frequently Asked Questions About the Market Study (FAQs)