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

11-16-2021 10:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: StraitsResearch

Hub Unit Bearing Market

Hub Unit Bearing Market

Hub Unit Bearing Market Snapshot:

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.

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.

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 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.

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.

Global motorbike sale is also expected to grow exponentially. The rise in the motorbike sale is observed high in the nations, such as India, Japan, and some European countries. The bike sales declined in 2020 due to the COVID-19 pandemic. According to data published by the FADA (Federation of Automobile Dealers Association), the number of new two-wheeler vehicle registration in India in 2020 has declined by -28.7% compared to 2019. However, the two-wheeler market is expected to recover by the end of 2021. 

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The Major Prominent 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

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

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 2021-2029. 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 this report with a detailed description and TOC @ https://straitsresearch.com/report/hub-unit-bearing-market/toc

Key Questions Answered in The Report:
What will the Hub Unit Bearing market growth rate?
What are the key factors driving the global Hub Unit Bearing market?
Who are the key manufacturers in the Hub Unit Bearing market space?
What are the market opportunities, market risk, and market overview of the Hub Unit Bearing market?
What are sales, revenue, and price analysis of top manufacturers of the Hub Unit Bearing market?
Who are the distributors, traders, and dealers of the Hub Unit Bearing market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Hub Unit Bearing Industry?
What are sales, revenue, and price analysis by regions of Hub Unit Bearing industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Hub Unit Bearing Market Trends:
- The report identifies, determines, and forecasts the Global Hub Unit Bearing Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Hub Unit Bearing Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Hub Unit Bearing Market.

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

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