Market Dynamics
Growing automotive industry across the globe, is a key driving factor for growth of the rolling bearing steel market as rolling bearing steels are widely used in automobile engines, powertrain, and others. According to International Organization of Motor Vehicle manufacturers, in 2016, the automotive industry produced 94,976,569 unit of vehicles (including cars and commercial vehicles), globally, which increased to 97,302,534 unit of vehicles in 2017. Rising production of vehicles may propel the rolling bearing steel market in the near future.
Rolling Bearing Steel Market Report Snapshots
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