Automotive Bearing and Clutch Component Aftermarket Market on Track for Strong Growth, Estimated to Grow at 5.6% CAGR Through 2029

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What Is the Expected CAGR for the Automotive Bearing and Clutch Component Aftermarket Market Through 2025?
The market size of the automotive bearing and clutch component aftermarket has experienced robust growth over the recent years. Predicted to rise from a value of $5.24 billion in 2024 to $5.55 billion in 2025, it boasts a compound annual growth rate (CAGR) of 5.9%. The escalation observed in the historic period is a result of growing access and diversity of aftermarket components, the broadening of the global automotive sector, economical production methods, the trend to maintain older automobiles as a cost-saving measure, and the surging need to replace worn or damaged parts.

What's the Projected Size of the Global Automotive Bearing and Clutch Component Aftermarket Market by 2029?
The market for automotive bearing and clutch component aftermarket is projected to experience substantial expansion in the forthcoming years. It is anticipated to rise to a value of $6.91 billion by 2029 with a 5.6% Compound Annual Growth Rate (CAGR). This growth during the projected period can be credited to several factors. These include the regular replacement of parts experiencing wear and tear, revisions in safety norms or emission standards, a surge in the commercial vehicle industry, improvements in aftermarket supply chain efficacies and modifications in vehicle maintenance routines and methods. A few notable trends during the forecast timeline are the rising attraction towards electric vehicles, advancements in technology, migration to online sales platforms, emphasis on performance and efficiency, and the emergence of hybrid vehicles.

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Top Growth Drivers in the Automotive Bearing and Clutch Component Aftermarket Industry: What's Accelerating the Market?
The surge in vehicle ownership is anticipated to drive the expansion of the automotive bearing and clutch component aftermarket. Vehicle ownership is the lawful possession and wield of a vehicle by an individual or an organization. This surge is fuelled by the rise in urbanization, better economic conditions, and advancements in automobile engineering. Aftermarket automotive bearing and clutch components are used in vehicles for replacing worn parts, improving performance, and extending lifespan, providing economical maintenance options for both drivers and mechanics. For example, Statistics Canada, a government agency, reported in November 2023, that the total number of road motor vehicles registered in Canada in 2022 was 26.3 million, marking a minor increase of 0.3% from the previous year. In 2022, electric vehicles accounted for 3.0% of light-duty vehicle registrations, up from 2.3% in 2021. Hence, the surge in vehicle ownership rates is spearheading the growth of the automotive bearing and clutch component aftermarket.

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What Trends Will Shape the Automotive Bearing and Clutch Component Aftermarket Market Through 2029 and Beyond?
Key players in the automotive bearing and clutch component aftermarket industry are concentrating on the creation of cutting-edge products like performance grease. This specific lubricant is designed for high-stress uses, helping decrease wear, friction, and rust while extending the life of mechanical parts. For example, Apec Automotive, a US company with expertise in braking systems and components, brought out a new lineup of wheel bearing kits in March 2022. These kits give complete wheel bearings solutions. They are lifetime sealed with high-performance grease, promising durability and peak performance. All essential accessories like nuts, bolts, and circlips are included in each kit, offering a whole and convenient package.

What Are the Main Segments in the Automotive Bearing and Clutch Component Aftermarket Market?
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 Top Companies are Driving Growth in the Automotive Bearing and Clutch Component Aftermarket Market?
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

Which Regions Will Dominate the Automotive Bearing and Clutch Component Aftermarket Market Through 2029?
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.

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