Press release
Emerging Passenger Car Bearing And Clutch Component Aftermarket Market Trend 2025-2034: Advancements In Passenger Car Bearing And Clutch Component With Dual-Core Innovation
Passenger Car Bearing And Clutch Component AfterMarket Size Market Size
Recent years have seen a significant growth in the aftermarket market size for passenger car bearing and clutch components. This market will rise from $8.74 billion in 2024 to $9.32 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.6%. Factors contributing to the growth during the historical period include the rising average age of passenger cars, an increase in the number of passenger cars, increased vehicle usage leading to more wear and tear, stable economic conditions, and an increase in consumer spending on vehicle maintenance.
It is anticipated that the aftermarket for passenger car bearing and clutch components will witness considerable expansion in the coming years. With a compound annual growth rate of 6.3%, the market size is projected to reach $11.91 billion by 2029. This surge during the forecast period is due to the escalating demand for eco-friendly, sustainable car parts, an upswing in car manufacturing, persistent aging of vehicles, and increased replacement rates. The imminent trends during this period will include enhancements in bearing and clutch technologies, a rising demand for vehicles with high-performance and fuel efficiency, the surge in e-commerce platforms, the advent of innovative materials, and the adoption of electric and hybrid cars.
What Are the Forces Behind the Rapid Growth of the Passenger Car Bearing And Clutch Component Aftermarket Market?
The continuous increase in the worldwide vehicle population is projected to spur the expansion of the passenger car bearing and clutch component aftermarket. This surge is influenced by factors such as progressive urbanization, increasing disposable income, and growing transportation requirements. The bearings and clutch components for passenger cars, available in the aftermarket, play a significant role in vehicle upkeep, restoration, and enhancement, thereby prolonging the lifespan and improving the efficiency of the escalating international vehicle population. For instance, in May 2024, there were 2.5 million new car registrations in the UK in 2023, as reported by the Department for Transport, a ministerial department of the UK government. This represented a surge of 16% relative to 2022. Consequently, the escalating worldwide vehicle populace will propel the expansion of the passenger car bearing and clutch component aftermarket.
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Who Are the Major Industry Players Fueling Passenger Car Bearing And Clutch Component Aftermarket Market Expansion?
Major companies operating in the passenger car bearing and clutch component afterMarket are Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Aisin Seiki Co. Ltd., Faurecia S.A., Valeo S.A., Eaton Corporation Plc, Tenneco Inc., Aptiv PLC, Schaeffler AG, MAHLE GmbH, BorgWarner Inc., Dana Incorporated, AB SKF, Minebea Mitsumi Inc., JTEKT Corporation, NSK Ltd., GKN Automotive Limited, The Timken Company, NTN Corporation, Nachi-Fujikoshi Corp., Exedy Corporation, Haldex AB, Federal-Mogul LLC, Fersa Bearings S.A
Which Key Developments Are Influencing the Passenger Car Bearing And Clutch Component Aftermarket Market?
Leading firms within the passenger car bearing and clutch component aftermarket are prioritizing technological advancements like the dual-core technology to boost performance, longevity, and efficiency in order to keep up with the changing needs of contemporary vehicles. The dual-core technology merges two clutch cores for superior performance, longevity, and efficiency across different mechanical systems. For example, UniClutch, an Australian innovator specializing in advanced clutch technologies for auto and industrial applications, unveiled revolutionary clutch systems in the U.S. market in October 2023, with a potential to reshape the global automotive aftermarket. UniClutch and UniClutch Sport, equipped with distinctive dual-core technology enhance torque capacity and driving performance, and also simplify inventory and installation management. UniClutch Sport offers an extra 15% torque capacity while keeping a sport-oriented pedal feel. These innovative solutions provide supply chain and labor efficiency solutions that benefit drivers, technicians, and parts distributors alike.
How Is the Segmentation of the Passenger Car Bearing And Clutch Component Aftermarket Market Defined?
The passenger car bearing and clutch component aftermarket market covered in this report is segmented -
1) By Product Type: Wheel Bearing, Clutch Actuators, Clutch Kit Components, Transmission Bearings, Differential Bearings
2) By Sales Channel: Authorized Dealerships, Automotive Parts Retailers, Online Retail, Auto Repair Shops, Distributors And Wholesalers
3) By Application: Sedan, Utility Vehicle, Sports Utility Vehicle (SUV), Other Applications
Subsegments:
1) By Wheel Bearing: Hub Bearings, Ball Bearings, Roller Bearings
2) By Clutch Actuators: Hydraulic Clutch Actuators, Electric Clutch Actuators
3) By Clutch Kit Components: Clutch Discs, Pressure Plates, Release Bearings
4) By Transmission Bearings: Ball Transmission Bearings, Tapered Roller Transmission Bearings
5) By Differential Bearings: Pinion Bearings, Side Bearings, Carrier Bearings
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What Is the Leading Region in the Passenger Car Bearing And Clutch Component Aftermarket Market?
North America was the largest region in the passenger car bearing and clutch component afterMarket in 2023. The regions covered in the passenger car bearing and clutch component afterMarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Passenger Car Bearing And Clutch Component Aftermarket Global Market Report?
- Market Size Analysis: Analyze the Passenger Car Bearing And Clutch Component Aftermarket Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Passenger Car Bearing And Clutch Component Aftermarket Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Passenger Car Bearing And Clutch Component Aftermarket Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Passenger Car Bearing And Clutch Component Aftermarket Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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