Published by Jessica Weisman-Pitts
Posted on January 31, 2022
The automotive wheel bearing aftermarket is growing steadily with the rise in production of higher load carrying commercial vehicles, high performance vehicles, and others. Maintenance of wheel bearings is important to maintain smooth wheel functioning and free rotation of the wheel hub. This is creating increasing demand for automotive wheel bearing aftermarket services.
A new study by Future Market Insights (FMI) states that the global automotive wheel bearing aftermarket is expected to rise at ~3.4% CAGR during the forecast period from the year 2020 to 2030.
Due to the rise in industrialization and economic growth, the demand for automotive wheel bearings is rising. In order to meet necessities of customers, market players are focusing on developing hybrid bearings with improved stiffness and load capacity. With researches underway to improve overall functionality, the demand in automotive wheel bearing aftermarket is expected to surge in the coming years.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12779
Despite facing hindrances caused by COVID-19 pandemic, the global automotive wheel bearing aftermarket is set to witness impressive growth during the forecast period.
FMI offers an exhaustive overview of the automotive wheel bearing aftermarket, its potential, growth drivers and restraints.
Some of the key takeaways from the report are highlighted below-
“The increase in sales of passenger cars and two wheelers is expected to drive the global automotive wheel bearing aftermarket. Furthermore, the usage of advanced technologies and materials in automotive manufacturing has increased the average operational age of vehicles significantly which in turn is catering to the growth of automotive wheel bearing aftermarket,” says an FMI analyst.
COVID-19 Impact Analysis
The market has been severely affected by the outbreak of COVID-19 pandemic. The decrease in demand for automotive wheel bearings coupled with the decline in growth of automotive industry has hampered the growth of the aftermarket.
Factors such as shutting down of manufacturing units, disruptions in transport and sales channels, scarcity of raw materials, and others have resulted in the declining growth of automotive wheel bearing aftermarket.
With the commencement of vaccination, the automotive wheel bearing aftermarket is anticipated to recover by the end of the year 2021 or beginning of 2022.
Who is Winning
With competition getting fiercer, market players are focussing on launching of extensive range of products with improved flexibility and load carriage capacity.
For instance, NSK Ltd. Has launched their new hub unit bearings with integral sensor located between the rows with a very small air gap in the recent year. They have also launched hub unit bearings with angular passive sensor with integral high-output sensor in the current year.
NRB Bearings Ltd. has launched their exclusive needle roller bearing with high load capacity and flexibility in the current year.
Some of the leading companies operating in the market are NTN Bearing, The Timken Company, Continental Group, AB SKF, NSK Ltd, Schaeffler AG, JTEKT Corp, among others.
Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-12779
Key Segments
Sales Channel
Vehicle Type
Product Type
Application
Pre-Book Report @ https://www.futuremarketinsights.com/checkout/12779
Top Reports Related To Automotive Market Insights
Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.
Electric Scooters Market : Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total US$ 8.8 Bn in 2021.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/Automotive-Wheel-Bearing-AfterMarket
Press Release Source: https://www.futuremarketinsights.com/press-release/Automotive-Wheel-Bearing-AfterMarket
The automotive wheel bearing aftermarket is growing steadily with the rise in production of higher load carrying commercial vehicles, high performance vehicles, and others. Maintenance of wheel bearings is important to maintain smooth wheel functioning and free rotation of the wheel hub. This is creating increasing demand for automotive wheel bearing aftermarket services.
A new study by Future Market Insights (FMI) states that the global automotive wheel bearing aftermarket is expected to rise at ~3.4% CAGR during the forecast period from the year 2020 to 2030.
Due to the rise in industrialization and economic growth, the demand for automotive wheel bearings is rising. In order to meet necessities of customers, market players are focusing on developing hybrid bearings with improved stiffness and load capacity. With researches underway to improve overall functionality, the demand in automotive wheel bearing aftermarket is expected to surge in the coming years.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12779
Despite facing hindrances caused by COVID-19 pandemic, the global automotive wheel bearing aftermarket is set to witness impressive growth during the forecast period.
FMI offers an exhaustive overview of the automotive wheel bearing aftermarket, its potential, growth drivers and restraints.
Some of the key takeaways from the report are highlighted below-
“The increase in sales of passenger cars and two wheelers is expected to drive the global automotive wheel bearing aftermarket. Furthermore, the usage of advanced technologies and materials in automotive manufacturing has increased the average operational age of vehicles significantly which in turn is catering to the growth of automotive wheel bearing aftermarket,” says an FMI analyst.
COVID-19 Impact Analysis
The market has been severely affected by the outbreak of COVID-19 pandemic. The decrease in demand for automotive wheel bearings coupled with the decline in growth of automotive industry has hampered the growth of the aftermarket.
Factors such as shutting down of manufacturing units, disruptions in transport and sales channels, scarcity of raw materials, and others have resulted in the declining growth of automotive wheel bearing aftermarket.
With the commencement of vaccination, the automotive wheel bearing aftermarket is anticipated to recover by the end of the year 2021 or beginning of 2022.
Who is Winning
With competition getting fiercer, market players are focussing on launching of extensive range of products with improved flexibility and load carriage capacity.
For instance, NSK Ltd. Has launched their new hub unit bearings with integral sensor located between the rows with a very small air gap in the recent year. They have also launched hub unit bearings with angular passive sensor with integral high-output sensor in the current year.
NRB Bearings Ltd. has launched their exclusive needle roller bearing with high load capacity and flexibility in the current year.
Some of the leading companies operating in the market are NTN Bearing, The Timken Company, Continental Group, AB SKF, NSK Ltd, Schaeffler AG, JTEKT Corp, among others.
Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-12779
Key Segments
Sales Channel
Vehicle Type
Product Type
Application
Pre-Book Report @ https://www.futuremarketinsights.com/checkout/12779
Top Reports Related To Automotive Market Insights
Aircraft Cabin Interior Market : According to Future Market Insight’s (FMI), the global aircraft cabin interior market is forecast to grow at 2.70% in 2021, overcoming the uncertainty about market recovery and performance during a global pandemic. FMI also predicts that the aircraft cabin interior market will exceed the overall market valuation of US$ 14.5 Bn by the end of 2021.
Electric Scooters Market : Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total US$ 8.8 Bn in 2021.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/Automotive-Wheel-Bearing-AfterMarket
Press Release Source: https://www.futuremarketinsights.com/press-release/Automotive-Wheel-Bearing-AfterMarket
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