ICICI Securities Ltd | Retail Equity Research SKF is the leader in the Indian bearing market with ~28% share. We believe the company is stepping on the growth trajectory due to traction in its key segments, auto and industrial. SKF derives ~54% sales from the automotive segment and ~46% of sales from the industrial segment. In the auto segment, the company is witnessing improved demand in HUB-3 bearings with the Indian auto industry moving from first generation bearing to third generation bearing. With a pick-up in auto sales, we...