Automotive Wheel Bearing - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Automotive Wheel Bearing Market is expected to grow at a CAGR of 6.8% during the forecast period. Growing demand and consumption of automobiles, high growth in emerging economies, incorporation of sensors in automotive wheel bearings and growing vehicle production are some factors impacting the market growth. However, factors such as rising raw material prices and rising availability of counterfeit products are hindering the market growth.
Automotive wheel bearing are very important machine components intended to allow the wheel to spin appropriately. Wheel bearings are a set of steel balls held jointly by a metal ring which is called a race. Automotive wheel bearing rides on metal axle shafts and fits strongly inside the hub which is a hallow chunk of metal at the center of the wheel. The hub holds the lug bolts that are used to bolt the tire onto the wheel. The wheel bearing is pressed into the hub from the back.
By Vehicle Type, passenger cars segment accounted for the significant market share. Factors such as the growing disposable income and the robust incentives offered by the government through the reduction in sales tax, will fuel the growth of the passenger cars segment, which will then fuel the growth of the market. Based on geography, Asia Pacific region is expected to register the highest market growth during the forecast period due to demand for vehicles especially two-wheelers and passenger cars. In addition, the increased spending on infrastructure development for the transportation of people, raw materials, and other related items will also fuel the growth of the market in this region.
Some of the key players in Automotive Wheel Bearing market include Nachi Fujikoshi Corp., CW Bearing USA, Inc., Wafangdian Bearing Group Corp, Jtekt Corporation, SNL Bearings Ltd., Timken Company, Minebea Co., Ltd., Schaeffler AG., NSK Ltd., NTN Corporation, RBC Bearings, Iljin Bearing Co., Ltd., RKB Bearings, ORS Bearings, C&U Bearing and Svenska Kullagerfabriken AB.
Vehicle Types Covered:
• Four wheelers
• Three wheelers
• Other Vehicle Types
Bearing Types Covered:
• Roller Bearing
• Thrust Bearing
• Plain Bearing
• Ball Bearing
• Other Bearing Types
• Rear Wheel
• Front Wheel
Channel Types Covered:
• Original equipment manufacturer
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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