Market Share of Europe Automotive Bearing Industry
The Europe Automotive bearings market is dominated by major existing players such as NSK Ltd, JTEKT Corporation, NTN Bearing Corporation, SKF, NTN Bearings, Schaeffler AG, and Many others. Companies are making joint-ventures, and partnerships, and launching new products with advanced technology. For instance,
- In October 2021, JTEKT Corporation merged with three subsidiaries that manufacture and sell bearings. Through this merger, the company aims to streamline the group structure, collect the technologies owned by the three companies, and expand the business domain to the processing of automobile parts. Utsunomiya Kiki Co., Ltd., Nippon Needle Roller Manufacturing Co., Ltd., and Tokyo Seiko (Hamura City, Tokyo) will be merged, and the company name will be changed to JTEKT FINETECH Co., Ltd.
- In September 2021, NSK Newark and NSK Peterlee plants in the United Kingdom switched to using entirely green energy, making it possible to significantly reduce and offset carbon emissions at all major plants in Europe.
- In March 2021, SKF invested an amount of SEK 400 million for the expansion and modernizing its manufacturing facility in Airasca, Italy. Such investment will bring the manufacturing of super-precision bearings for industrial applications.
Europe Automotive Bearing Market Leaders
NSK Ltd.
NTN-SNR ROULEMENTS
SKF
JTEKT Corporation
Schaeffler AG
*Disclaimer: Major Players sorted in no particular order
