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Global Vehicle Population Surge Fuels Aftermarket Growth: Pivotal Factor Influencing Passenger Car Bearing And Clutch Component Aftermarket Market Growth in 2025
Passenger Car Bearing And Clutch Component Aftermarket
Passenger Car Bearing And Clutch Component Aftermarket Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a notable increase in the market size of the passenger car bearing and clutch component aftermarket. A surge from $8.74 billion in 2024 to $9.32 billion in 2025 is forecasted, which indicates a compound annual growth rate (CAGR) of 6.6%. Factors contributing to this expansion during the historic period include the rising average age of passenger cars, an increase in the number of passenger cars, heightened vehicle usage leading to added wear and tear, economic stability, as well as consumer spending growth on car upkeep.
How Will the Passenger Car Bearing And Clutch Component Aftermarket Market Size Evolve and Grow by 2029?
In the near future, the aftermarket market for passenger car bearings and clutch components is forecasted to experience robust growth. It is projected to expand to $11.91 billion by 2029 with a compound annual growth rate (CAGR) of 6.3%. Growth possibilities within this timeframe can be accredited to an amplified demand for sustainable auto parts that align with environmental considerations, an escalating production rate in the automotive sector, enduring vehicle aging, and increased replacement rates. The highlighting trends for the predicted period include advancement in bearing and clutch technologies, a surge in demand for high-performance, fuel-efficient vehicles, prevalence of e-commerce platforms, adoption of advanced materials, as well as electric and hybrid vehicles.
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What Drivers Are Propelling the Growth of Passenger Car Bearing And Clutch Component Aftermarket Market Forward?
The rising number of vehicles across the globe is anticipated to stimulate the expansion of the passenger car bearing and clutch component aftermarket. Factors driving this increase include escalating urbanization, growing disposable income, and increased transport requirements. The aftermarket availability of passenger car bearings and clutch components aids in the maintenance, repair and improvement of vehicles, therefore enhancing the durability and efficiency of the increasing global vehicle fleet. To exemplify, the Department for Transport - a UK governmental department - reported in May 2024 that 2.5 million cars were newly registered in the UK in 2023, which represents a 16% increase from 2022. Consequently, the burgeoning population of global vehicles is expected to fuel the growth of the passenger car bearing and clutch component aftermarket.
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Which Emerging Trends Are Transforming the Passenger Car Bearing And Clutch Component Aftermarket Market in 2025?
Leading companies in the passenger car bearing and clutch component aftermarket are turning to technological innovations such as dual-core technology to amplify performance, longevity, and efficacy to meet modern vehicle demands. This technology merges two clutch cores to boost efficiency, durability, and performance in a range of mechanical systems. For example, UniClutch, an Australian firm known for groundbreaking clutch technologies aimed at superlative solutions for automotive and industrial usage, unveiled cutting-edge clutch systems in the U.S. market in October 2023. This development holds the potential to revolutionize the worldwide automotive aftermarket. UniClutch and UniClutch Sport utilize the unique dual-core technology, which escalates torque capacity and driving performance while making inventory management and installation easier. Moreover, UniClutch Sport offers an extra 15% torque capacity, keeping a sport-tuned pedal feel intact. Such innovations tackle supply chain issues and labor efficiency needs, benefiting not only drivers but also technicians and parts distributors.
What Are the Key Segments in the Passenger Car Bearing And Clutch Component Aftermarket Market?
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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Who Are the Key Players Shaping the Passenger Car Bearing And Clutch Component Aftermarket Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth 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.
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