Driving Smoothness and Reliability: Automotive Wheel Bearing Aftermarket to Reach US$ 58.8 Billion by 2032 with a CAGR of 4%

The global Automotive Wheel Bearing Aftermarket market is set to witness an impressive growth rate of 4% over the forecasted years of 2022 to 2032. The contact market size is anticipated to reach a valuation of around US$ 58.8 Billion by the end of year 2032 from the current valuation of US$ 39.75 Billion in 2022. Rolling with Precision: Automotive Wheel Bearing Aftermarket Set to Reach US$ 58.8 Billion by 2032 at a Steady CAGR of 4%

The key factor that has had a considerable positive impact on the aftermarket for wheel bearings is the globalisation of the automotive industry. As more passenger, luxury, commercial, and other types of cars are created, there is a rapid increase in the need for wheel bearings worldwide.

Ball bearings and taper roller bearings are the bearing types that are most frequently used in passenger cars. They vary depending on the application and load. As transit use grows, performance improves, and driving practises alter, the strains exerted on wheel hubs change.

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There is also a sizable need for automotive wheel bearings in this market because autonomous driving systems are totally controlled by sensors. Ball thrust bearings are mostly utilised in transportation and agriculture since they frequently operate at low speeds in the fields and are typically employed for low speed, non-precision applications.

When employed in back-to-back pairs, these vehicle ball bearings are capable of withstanding axial strains in both directions. As the auto industry grows in the next years, there will likely be a greater demand for tapered roller bearings.

Key Takeaways from Automotive Wheel Bearing Aftermarket Study

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Competitive Landscape for the Global Automotive Wheel Bearing Aftermarket

Some of the well-known contact automotive wheel bearing aftermarket players are Federal – Mogul Corporation (Tennenco Inc.), Schaeffler AG, Mahle GmbH, Continental AG, The Timken Company, NSK Ltd., JTEKT Corp, NTN Corporation, Rheinmetall AG, NRB Bearings Ltd., Nachi – Fujikoshi Corp., MinebeaMitsumi Inc., and Wafangdian Bearing Group Corporation among others.

As the automotive market is well developed in almost all parts of the world so the automotive wheel bearing market is highly fragmented. Thus mergers and acquisitions are a very common feature in this sector. For instance, Drake Manufacturing Services. Co. LLC was bought by CW Bearings USA, Inc. in the year 2017. The business was able to join the Machine Tools sector thanks to the purchase.

Shortly after, the global market saw the acquisition of ABC Bearings Ltd., an Indian manufacturer of conical or tappered, circular or round roller bearings as well as slewing rings, by Timken India Ltd, which is a division of The Timken Company.

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Key Segments

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