Global aftermarket automotive wheel hub bearing sales are set to total over US$ 1,114.2 million in 2023, as per Future Market Insights (FMI). The Automotive Wheel Hub Bearing Aftermarket is expected to expand at a value CAGR of 5.0% from 2023 to 2033, reaching a valuation of US$ 1,810.7 million by 2033.
Who is Winning?
The automotive wheel hub bearing aftermarket is moderately consolidated with few top companies holding around 40% to 45% of the market shares. These players are likely to invest in new technology developments and expansion of their distribution networks to maintain their market presence.
Few of the key players in this industry include Continental AG, Tenneco Inc., Schaeffler AG, Mahle GmbH, The Timken Company, NSK Ltd., JTEKT Corp, Rheinmetall AG, NTN Corporation, NRB bearings Ltd., Nachi-Fujikoshi Corp., and others.
Recent developments:
- In 2019, a next-generation durable bearing was introduced by JTEKT Corporation that is intended for use in harsh conditions.
Ask our expert Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-17337
Key Segmentations:
By Vehicle Type:
- EV
- Passenger Car
- LCV
- HCV
- IC Engine
- Passenger Car
- LCV
- HCV
- Two Wheelers
- EV
- IC Engine
By Inner Diameter:
- 12 mm to 25 mm
- 26 mm to 50 mm
- 51 mm to 100 mm
- Above 100 mm
By Product Type:
- Ball Bearing
- Tapered Roller Bearing
- Cylindrical Roller Bearing
- Angular Contact Ball Bearings
- Needle Roller Bearings
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Independent Aftermarket
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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