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Hub Unit Bearing Market Share, Trends and Leading Players By 2029: NSK Ltd., NTN Corporation, C&U Americas etc.

10-07-2021 01:56 PM CET | Logistics & Transport

Press release from: StraitsResearch

Hub Unit Bearing Market

Hub Unit Bearing Market

A hub unit bearing is an automotive part used in passenger cars, commercial light and heavy vehicles, and motorbikes. A hub unit bearing comprises bearing rings, cages, hub shaft, outer ring, ABS sensor, shaft end clinching, and rolling elements. There are three main categories of hub unit bearing, first-generation hub unit bearing (HUB I), second-generation hub unit bearing (HUB II), and third-generation hub unit bearing (HUB III).

The hub unit bearing types vary according to the integration of the bearings and their peripheral components. The demand for these bearings is increasing recently owing to the increase in the sales of automobile and aftermarket products. The adoption of an antilock braking system (ABS) in the vehicle is also increasing the demand for hub unit bearing. Other factors for the market growth include the rise in the demand for pre-owned/used cars and bikes in various nations across the globe and increase sales of aftermarket products.

Product Lifecycle - The history of Hub unit bearing traces back to the 1970s when Mercedes-Benz invented its first antilock braking system. The company with Bosch developed a second-generation ABS system in 1978. Since then, the demand for hub unit bearing systems has gained traction. The hub unit bearing market is expected to continue to grow owing to the increasing demand from motorbikes manufacturers in various nations such as India, China, and Japan.

The hub unit bearing market is expected to surge during the forecast period as manufacturers are consistently developing more efficient products. NSK Ltd offers third-generation hub unit bearing, which has several advantages over first and second-generation hub unit bearings.

Hub unit bearing is extensively used in passenger cars. Recently, hub unit bearing is increasingly finding applications in two-wheelers/motorbikes. Most bikes available in the market have disc braking system, which requires a hub unit. Moreover, since the last decade, most new sports and cruiser bikes are launched with an integrated antilock braking system (ABS), which is expected to fuel the hub unit bearing market growth.

The demand for hub unit bearing is expected to rise in the automotive sector owing to the increasing sales of passenger cars and motorbikes. However, due to the outbreak of coronavirus pandemic, the automotive market has contracted drastically. According to the ACEA (European Automobile Manufacturers Association), the new passenger car registration was recorded at 1,065,887 units in December 2019, which declined to 956,779 units in January 2020. However, the market is projected to recover soon in various nations.

According to the recent data provided by the ACEA, the new passenger car registration in the EU was 956,779 units in January 2020, which increased to 1,031,070 units in December 2020. The recovery of the passenger cars market post-pandemic is expected to drive significant growth.

Grab a Free Sample PDF copy of the Hub Unit Bearing Market Report 2019 @ https://straitsresearch.com/report/hub-unit-bearing-market/request-sample

The Major Players Covered in this Report: NSK Ltd., NTN Corporation, C&U Americas, EBI Bearings Co., Ltd, BCA Bearings, Diesel Technic SE, IMB Bearing, IVECO S.p.A., Tata Bearings Ltd., Scania AB, Hangzhou Motion Auto Parts, Others,, & More...

By Type, Conventional Type, HUB I, HUB II, HUB III,
By Application, Passenger Cars, Commercial Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheele

View this report with a detailed description and TOC @ https://straitsresearch.com/report/hub-unit-bearing-market/toc

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Hub Unit Bearing in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Hub Unit Bearing market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Hub Unit Bearing and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Hub Unit Bearing. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

View Full Report @ 
https://straitsresearch.com/report/hub-unit-bearing-market/

The report covers exhaustive analysis on:
Overview of the parent market
Global Hub Unit Bearing Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Hub Unit Bearing Market Forecast 2019 to 2026
Supply & Demand Value Chain
Global Hub Unit Bearing Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?

Buy Full Report with Detail Analysis with COVID-19 Impact – https://straitsresearch.com/buy-now/hub-unit-bearing-market/global/

Would you like to discuss Hub Unit Bearing Market challenges with the experts at Straits Research?

For more details, please contact us -
Straits Research
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY 10022
Tel: +1 646 480 7505, +44 208 068 9665
Website: https://straitsresearch.com/

About Us:
Regardless of whether you're looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with what customers purchase. We overcome the issues of our customers by recognizing and deciphering just the target group, while simultaneously generating leads with the highest precision. We seek to collaborate with our customers to deliver a broad spectrum of results through a blend of market and business research approaches. This approach of using various research and analysis strategies enable us to determine greater insights by eliminating the research costs.

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