Market Size –
The passenger car bearing and clutch component aftermarket market size has grown strongly in recent years. It will grow from $8.22 billion in 2023 to $8.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased average age of passenger cars, growth in the number of passenger cars, higher usage of vehicles leading to more wear and tear, economic stability, and growth boosting consumer spending on vehicle maintenance.
The passenger car bearing and clutch component aftermarket market size is expected to see strong growth in the next few years. It will grow to $11.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing demand for environmentally friendly, sustainable automotive components, growing automotive production, continued vehicle aging, and higher replacement rates. Major trends in the forecast period include advances in bearing and clutch technology, increasing demand for high-performance and fuel-efficient vehicles, e-commerce platforms, advanced material adoption, and electric and hybrid vehicles.
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Scope Of Passenger Car Bearing And Clutch Component Aftermarket Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Passenger Car Bearing And Clutch Component Aftermarket Market Overview
Market Drivers –
The growing global vehicle population is expected to propel the growth of the passenger car bearing and clutch component aftermarket market going forward. The vehicle population is driven by increasing urbanization, rising disposable incomes, and expanding transportation needs. The passenger car bearings and clutch components available in aftermarket support vehicle maintenance, repair, and upgrade, contributing to the longevity and efficiency of the growing global vehicle population. For instance, in May 2024, according to the Department for Transport, a UK-based ministerial department of the government, 2.5 million automobiles were registered for the first time in the UK in 2023. This was a 16% rise compared to 2022. Therefore, the growing global vehicle population will drive the passenger car bearing and clutch component aftermarket market.
Market Trends –
Major companies operating in the passenger car bearing and clutch component aftermarket market are focusing on technological advancements such as dual-core technology to enhance performance, durability, and efficiency, thereby meeting the evolving demands of modern vehicles. Dual-core technology integrates two clutch cores for improved performance, efficiency, and durability in various mechanical systems. For instance, in October 2023, UniClutch, an Australia-based innovator in advanced clutch technologies specializing in high-performance solutions for automotive and industrial applications, introduced revolutionary clutch systems to the U.S. market, promising to transform the global automotive aftermarket. UniClutch and UniClutch Sport, which use unique dual-core technology, improve torque capacity and drive performance while simplifying inventory management and installation. UniClutch Sport provides an additional 15% torque capacity while maintaining a sport-tuned pedal feel. These technologies address supply chain difficulties and labor efficiency requirements, which benefit drivers, technicians, and parts distributors alike.
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
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Regional Insights –
North America was the largest region in the passenger car bearing and clutch component aftermarket market in 2023. The regions covered in the passenger car bearing and clutch component aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the passenger car bearing and clutch component aftermarket market 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
Table of Contents
1. Executive Summary
2. Passenger Car Bearing And Clutch Component Aftermarket Market Report Structure
3. Passenger Car Bearing And Clutch Component Aftermarket Market Trends And Strategies
4. Passenger Car Bearing And Clutch Component Aftermarket Market – Macro Economic Scenario
5. Passenger Car Bearing And Clutch Component Aftermarket Market Size And Growth
…..
27. Passenger Car Bearing And Clutch Component Aftermarket Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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