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Leading Element Driving Change in the Automotive Bearing and Clutch Component Aftermarket Market in 2025: Vehicle Ownership Rates Propel Growth Of The Automotive Bearing And Clutch Component AfterMarket Driver
Leading Element Driving Change in the Automotive Bearing and Clutch Component
The anticipated expansion of the automotive bearing and clutch component aftermarket is largely attributed to rising vehicle ownership. Essentially, vehicle ownership is defined as the legal ownership and control over a vehicle by an individual or an organization. Accelerated urbanization, enhanced economic conditions, and breakthroughs in automotive engineering are all contributing factors to increased vehicle adoption. Aftermarket automotive bearing and clutch components are used in vehicles to replace deteriorated parts, boost performance, and prolong their functionality, providing cost-efficient maintenance alternatives for both drivers and mechanics. For instance, Statistics Canada, a government agency in Canada, reported in November 2023 that the cumulative number of registered road motor vehicles in 2022 stood at 26.3 million, marking a marginal 0.3% increase from 2021. Furthermore, electric vehicles saw an increase in registrations in 2022, accounting for 3.0% of all light-duty vehicle registrations, up from 2.3% in 2021. Thus, the growth of the automotive bearing and clutch component aftermarket can be associated with the mounting rates of vehicle ownership.
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How will the growth rate of the automotive bearing and clutch component aftermarket market shape industry trends by 2034?
In recent times, the aftermarket sector for automotive bearing and clutch components has experienced significant growth. The market value, which was $5.24 billion in 2024, is projected to rise to $5.55 billion in 2025, marking a compound annual growth rate (CAGR) of 5.9%. The historic growth of this market is primarily due to factors such as the increased access to and diversity of aftermarket components, the expansion of the global vehicle industry, affordable manufacturing processes, the trend of preserving older vehicles as a cost-saving measure, and the continuous need for replacing deteriorated or damaged parts.
The market size of the automotive bearing and clutch component aftermarket is forecasted to witness robust expansion in the forthcoming years. It is projected to reach a valuation of $6.91 billion in 2029 with a compound annual growth rate (CAGR) of 5.6%. The predicted growth in the forecast period can be accredited to several factors such as regular replacement of worn out parts, modifications in emissions standards or safety regulations, surge in commercial vehicles, the effectiveness and reach of aftermarket distribution networks, and alterations in vehicle maintenance timelines or methodologies. The key trends foreseen within the forecast period are the escalating demand for electric autos, advancements in technology, a transition towards digital sales avenues, a concentration on efficiency and performance, and the emergence of hybrid vehicles.
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What trends are poised to drive the future success of the automotive bearing and clutch component aftermarket market?
Major automotive bearing and clutch component aftermarket players are emphasizing on innovation, creating products like performance grease that enhances lubrication and cuts down friction. Performance grease, a special lubricant, can manage high-stress scenarios, decrease friction, and slow down wear and corrosion, thereby prolonging the life of mechanical parts. For example, Apec Automotive, an American manufacturer known for its braking systems and components, introduced a new series of wheel bearing kits in March 2022. These kits provide a comprehensive solution for wheel bearings and are pre-lubricated with high-performance grease to ensure resilience and optimal functioning. Furthermore, each kit is presented as a complete package including all necessary accessories like nuts, bolts, and circlips for convenience.
Which primary segments of the automotive bearing and clutch component aftermarket market are driving growth and industry transformations?
The automotive 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 Vehicle Type: Vans, Minivans, Pickup Trucks, Trucks, Busses, Three-Wheelers, Other Vehicle Types
3) By Sales Channel: Authorized Dealerships, Automotive Parts Retailers, Online Retail, Auto Repair Shops, Distributors And Wholesalers
Subsegments:
1) By Wheel Bearing: Front Wheel Bearings, Rear Wheel Bearings, Hub Assemblies
2) By Clutch Actuators: Hydraulic Clutch Actuators, Electric Clutch Actuators
3) By Clutch Kit Components: Clutch Discs, Clutch Pressure Plates, Clutch Release Bearings, Flywheels
4) By Transmission Bearings: Input Shaft Bearings, Output Shaft Bearings, Bearing Kits
5) By Differential Bearings: Pinion Bearings, Carrier Bearings, Side Bearings
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Which geographical regions are pioneering growth in the automotive bearing and clutch component aftermarket market?
North America was the largest region in the automotive bearing and clutch component afterMarket in 2024. The regions covered in the automotive bearing and clutch component afterMarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the automotive bearing and clutch component aftermarket market landscape?
Major companies operating in the automotive bearing and clutch component afterMarket are ZF Friedrichshafen AG, Aisin Seiki Co. Ltd., Eaton Corporation plc, Valeo Clutch Private Limited, Schaeffler AG, Marelli Holdings SpA, BorgWarner Inc., JTEKT Corporation, Svenska Kullagerfabriken group, Nippon Seikō Kabushiki-gaisha (NSK) Ltd., Federal-Mogul Motorparts Ltd., New Technology Network (NTN) Corporation, Timken India Limited, RBC Bearings Inc., ILJIN Holdings Co. Ltd., Mahle GmbH, Nachi America Inc., Luoyang LYC Bearing Co. Ltd., Fábricas Europeo de Rodamientos SA (FERSA), ACDelco, C&U Americas Group
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What Is Covered In The Automotive Bearing and Clutch Component Aftermarket Global Market Report?
•Market Size Forecast: Examine the automotive bearing and clutch component aftermarket market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive bearing and clutch component aftermarket market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive bearing and clutch component aftermarket market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive bearing and clutch component aftermarket market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive bearing and clutch component aftermarket market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive bearing and clutch component aftermarket market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive bearing and clutch component aftermarket market.
•Competitive Landscape: Review strategic developments in the automotive bearing and clutch component aftermarket market, including expansions, agreements, and new product launches.
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