Automotive Wheel Bearing Market
Automotive Wheel Bearing Market Forecasts to 2028 – Global Analysis By Vehicle Type (Four Wheelers, Two-Wheelers), Engine Type (Electric, Petrol), Application (Transmission System, Engine, Steering System), and By Geography
According to Stratistics MRC, the Global Automotive Wheel Bearing Market is accounted for $32.23 billion in 2020 and is expected to reach $52.54 billion by 2028 growing at a CAGR of 6.3% during the forecast period. Some of the key factors propelling the market growth include high demand for thrust bearings and demand for automated driving system (ADS), rise in automotive production creating new markets, rise in vehicle sales across the globe supplemented with a rise in demand for cars, and rise in vehicle production across the globe. However, reduction in weight of wheel bearings may hinder the market growth.
A wheel bearing refers to a set of steel balls held together by a metal ring called a race, which makes wheel spin fast with as little friction as possible. They are generally used on various vehicles, from bicycles to aircraft and cars. On a car, wheel bearing work with the tire, hub, and wheel to make a smooth ride while driving down the road. There are mainly two types of wheel bearing used in the wheel hub assembly of automobiles, ball bearing and roller bearing. They provide low friction between moving parts and high load-carrying capacity.
By bearing type, the ball bearing segment is expected to grow at the significant rate during the forecast period, owing to its high performance. Ball bearings are rolling element metal balls that are placed between the moving parts of bearings to make them move smoothly. These are used to reduce rotational friction and support radial and axial loads. Also, used to minimize friction and power loss. Latest trend is incorporation of sensor units in ball bearings. Sensor units assist in the digital monitoring of rotation speed, axial movement, deceleration, acceleration and load carrying capacity.
Based on the geography, Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period, owing to rising demand for passenger cars and commercial vehicles in the region. China, being a hub for production processes for many industries along with growing demand for automotive and industrial related developments, persisting in the country led it to contribute extensively to the innovations in utilization and determination of physical properties of wheel bearings. In 2019, Xin Guobin, vice-minister of industry and information technology of China had informed that car sales contribute for the lion's share of overall retail market of China and play a key role in the industrial economy.
Some of the key players in Automotive Wheel Bearing Market include ORS Bearings, Jtekt Corporation, NTN Corporation, NSK Ltd., NEI, Mahle GmbH, SKF, Schaeffler AG., Wafangdian Bearing Group Co., Ltd., Iljin Bearing Co., Ltd., Timken Company, Cixing Group Co., Ltd., ABC Bearings, Tata Bearings., and CW Bearing.
Report Coverage |
Details |
Published Year: |
2021 |
Estimated Market Size in 2020: |
USD 32.23 billion |
Estimated Period: |
2020 |
Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
6.3% |
Predicted 2028 Value: |
USD 52.54 billion |
Forecast Years: |
2021-2028 |
Tables, Graphs & Figures |
289 |
Chapters Covered: |
Bearing Type, Integration, Vehicle Type, Engine Type, Type, Sales Channel, and Application |
Core Drivers and Opportunities: |
|
Restraining Factors & Market Threats: |
|
Bearing Types Covered:
• Roller Bearing
• Ball Bearing
• Thrust Bearing
• Plain Bearing
• Precision Ball Bearings
• Double Row Angular Contact Bearings
• Angular Contact Ball Bearings
Integrations Covered:
• Rear Wheel
• Front Wheel
Vehicle Types Covered:
• Three Wheelers
• Four Wheelers
• Two-Wheelers
Engine Types Covered:
• Diesel
• Electric
• Petrol
• Hybrid
• Liquefied Natural Gas (LNG)
Types Covered:
• Gen. 1 Bearing
• Gen. 2 Bearing
• Gen. 3 Bearing
Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)
Applications Covered:
• Transmission System
• Wheel Hub
• Engine
• Steering System
• Suspension
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Automotive Wheel Bearing Market is majorly driven by high demand for thrust bearings and demand for automated driving system (ADS), rise in automotive production creating new markets, and rising demand for two-wheelers in the emerging economies.
The ball bearing segment is growing at a highest CAGR owing to its high performance, development and adoption of integrated bearings is on the rise as it is drastically reducing the number of bearing units required in the assembled product.
Asia Pacific dominated with a significant market share due to the rising demand for passenger cars and commercial vehicles in the region, growing demand for automotive and industrial related developments, and the presence of key global automotive vehicle manufacturers in China, Japan, India, and South Korea.
North America market is growing at a highest CAGR owing to the presence of highly developed automotive industry and the ultra-modern production units in the region.
Key players in Automotive Wheel Bearing Market include ORS Bearings, Jtekt Corporation, NTN Corporation, NSK Ltd., NEI, Mahle GmbH, SKF, Schaeffler AG., Wafangdian Bearing Group Co., Ltd., Iljin Bearing Co., Ltd., Timken Company, Cixing Group Co., Ltd., ABC Bearings, Tata Bearings., and CW Bearing.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Wheel Bearing Market, By Bearing Type
5.1 Introduction
5.2 Roller Bearing
5.2.1 Tapered Roller Bearing
5.2.2 Cylinder Roller Bearing
5.2.3 Barrel Roller Bearing
5.3 Ball Bearing
5.3.1 Self-Aligning
5.3.2 Miniature Precision
5.3.3 Radial Ball Bearing
5.3.4 Insert
5.4 Thrust Bearing
5.4.1 Cylindrical Bearings
5.4.2 Tapered Roller Thrust Bearing
5.4.3 Spherical Bearings
5.5 Plain Bearing
5.6 Precision Ball Bearings
5.7 Double Row Angular Contact Bearings
5.8 Angular Contact Ball Bearings
6 Global Automotive Wheel Bearing Market, By Integration
6.1 Introduction
6.2 Rear Wheel
6.3 Front Wheel
7 Global Automotive Wheel Bearing Market, By Vehicle Type
7.1 Introduction
7.2 Three Wheelers
7.3 Four Wheelers
7.3.1 Commercial Vehicle
7.3.1.1 Heavy Commercial Vehicle
7.3.1.1.1 Heavy
7.3.1.1.1.1 Cranes
7.3.1.1.1.2 Mobile Truck
7.3.1.1.1.3 Log Carriers
7.3.1.1.1.4 Van
7.3.1.1.2 Medium
7.3.1.1.2.1 Motor Homes
7.3.1.1.2.2 Fire Truck
7.3.1.1.2.3 Bus/Shuttle
7.3.1.1.3 Small
7.3.1.1.3.1 Tow Trucks
7.3.1.1.3.2 Pickups
7.3.1.2 Light Commercial Vehicle
7.3.1.2.1 Utility Vehicle
7.3.1.2.2 Small Carrier Trucks
7.3.2 Passenger Cars
7.3.2.1 Sedan
7.3.2.2 Small Car
7.4 Two-Wheelers
8 Global Automotive Wheel Bearing Market, By Engine Type
8.1 Introduction
8.2 Diesel
8.3 Electric
8.4 Petrol
8.5 Hybrid
8.6 Liquefied Natural Gas (LNG)
9 Global Automotive Wheel Bearing Market, By Type
9.1 Introduction
9.2 Gen. 1 Bearing
9.3 Gen. 2 Bearing
9.4 Gen. 3 Bearing
10 Global Automotive Wheel Bearing Market, By Sales Channel
10.1 Introduction
10.2 Aftermarket
10.3 Original Equipment Manufacturer (OEM)
11 Global Automotive Wheel Bearing Market, By Application
11.1 Introduction
11.2 Transmission System
11.3 Wheel Hub
11.4 Engine
11.5 Steering System
11.6 Suspension
12 Global Automotive Wheel Bearing Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 ORS Bearings
14.2 Jtekt Corporation
14.3 NTN Corporation
14.4 NSK Ltd.
14.5 NEI
14.6 Mahle GmbH
14.7 SKF
14.8 Schaeffler AG.
14.9 Wafangdian Bearing Group Co., Ltd.
14.10 Iljin Bearing Co., Ltd.
14.11 Timken Company
14.12 Cixing Group Co., Ltd.
14.13 ABC Bearings
14.14 Tata Bearings.
14.15 CW Bearing
List of Tables
1 Global Automotive Wheel Bearing Market Outlook, By Region (2019-2028) ($MN)
2 Global Automotive Wheel Bearing Market Outlook, By Bearing Type (2019-2028) ($MN)
3 Global Automotive Wheel Bearing Market Outlook, By Roller Bearing (2019-2028) ($MN)
4 Global Automotive Wheel Bearing Market Outlook, By Tapered Roller Bearing (2019-2028) ($MN)
5 Global Automotive Wheel Bearing Market Outlook, By Cylinder Roller Bearing (2019-2028) ($MN)
6 Global Automotive Wheel Bearing Market Outlook, By Barrel Roller Bearing (2019-2028) ($MN)
7 Global Automotive Wheel Bearing Market Outlook, By Ball Bearing (2019-2028) ($MN)
8 Global Automotive Wheel Bearing Market Outlook, By Self-Aligning (2019-2028) ($MN)
9 Global Automotive Wheel Bearing Market Outlook, By Miniature Precision (2019-2028) ($MN)
10 Global Automotive Wheel Bearing Market Outlook, By Radial Ball Bearing (2019-2028) ($MN)
11 Global Automotive Wheel Bearing Market Outlook, By Insert (2019-2028) ($MN)
12 Global Automotive Wheel Bearing Market Outlook, By Thrust Bearing (2019-2028) ($MN)
13 Global Automotive Wheel Bearing Market Outlook, By Cylindrical Bearings (2019-2028) ($MN)
14 Global Automotive Wheel Bearing Market Outlook, By Tapered Roller Thrust Bearing (2019-2028) ($MN)
15 Global Automotive Wheel Bearing Market Outlook, By Spherical Bearings (2019-2028) ($MN)
16 Global Automotive Wheel Bearing Market Outlook, By Plain Bearing (2019-2028) ($MN)
17 Global Automotive Wheel Bearing Market Outlook, By Precision Ball Bearings (2019-2028) ($MN)
18 Global Automotive Wheel Bearing Market Outlook, By Double Row Angular Contact Bearings (2019-2028) ($MN)
19 Global Automotive Wheel Bearing Market Outlook, By Angular Contact Ball Bearings (2019-2028) ($MN)
20 Global Automotive Wheel Bearing Market Outlook, By Integration (2019-2028) ($MN)
21 Global Automotive Wheel Bearing Market Outlook, By Rear Wheel (2019-2028) ($MN)
22 Global Automotive Wheel Bearing Market Outlook, By Front Wheel (2019-2028) ($MN)
23 Global Automotive Wheel Bearing Market Outlook, By Vehicle Type (2019-2028) ($MN)
24 Global Automotive Wheel Bearing Market Outlook, By Three Wheelers (2019-2028) ($MN)
25 Global Automotive Wheel Bearing Market Outlook, By Four Wheelers (2019-2028) ($MN)
26 Global Automotive Wheel Bearing Market Outlook, By Commercial Vehicle (2019-2028) ($MN)
27 Global Automotive Wheel Bearing Market Outlook, By Passenger Cars (2019-2028) ($MN)
28 Global Automotive Wheel Bearing Market Outlook, By Two-Wheelers (2019-2028) ($MN)
29 Global Automotive Wheel Bearing Market Outlook, By Engine Type (2019-2028) ($MN)
30 Global Automotive Wheel Bearing Market Outlook, By Diesel (2019-2028) ($MN)
31 Global Automotive Wheel Bearing Market Outlook, By Electric (2019-2028) ($MN)
32 Global Automotive Wheel Bearing Market Outlook, By Petrol (2019-2028) ($MN)
33 Global Automotive Wheel Bearing Market Outlook, By Hybrid (2019-2028) ($MN)
34 Global Automotive Wheel Bearing Market Outlook, By Liquefied Natural Gas (LNG) (2019-2028) ($MN)
35 Global Automotive Wheel Bearing Market Outlook, By Type (2019-2028) ($MN)
36 Global Automotive Wheel Bearing Market Outlook, By Gen. 1 Bearing (2019-2028) ($MN)
37 Global Automotive Wheel Bearing Market Outlook, By Gen. 2 Bearing (2019-2028) ($MN)
38 Global Automotive Wheel Bearing Market Outlook, By Gen. 3 Bearing (2019-2028) ($MN)
39 Global Automotive Wheel Bearing Market Outlook, By Sales Channel (2019-2028) ($MN)
40 Global Automotive Wheel Bearing Market Outlook, By Aftermarket (2019-2028) ($MN)
41 Global Automotive Wheel Bearing Market Outlook, By Original Equipment Manufacturer (OEM) (2019-2028) ($MN)
42 Global Automotive Wheel Bearing Market Outlook, By Application (2019-2028) ($MN)
43 Global Automotive Wheel Bearing Market Outlook, By Transmission System (2019-2028) ($MN)
44 Global Automotive Wheel Bearing Market Outlook, By Wheel Hub (2019-2028) ($MN)
45 Global Automotive Wheel Bearing Market Outlook, By Engine (2019-2028) ($MN)
46 Global Automotive Wheel Bearing Market Outlook, By Steering System (2019-2028) ($MN)
47 Global Automotive Wheel Bearing Market Outlook, By Suspension (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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