- +1-315-215-1633
- sales@thebrainyinsights.com
The automotive wheel bearing market was estimated at around USD 39.5 billion in 2021, growing at a CAGR of nearly 3.4% during 2022-2030. The market is projected to reach approximately USD 53.6 billion by 2030.
A wheel bearing is a collection of steel balls held together by a metal ring known as a race that allows the wheel to spin quickly and with the least amount of resistance possible. Generally speaking, they are applied to a variety of vehicles, including bicycles, cars, and aero planes. To create a smooth ride while driving along the road, wheel bearings of an automobile work with the tire, hub, and wheel. The wheel bearings that make up an automobile's wheel hub assembly primarily come in two varieties: ball bearings and roller bearings. In addition to having a high load carrying capacity, they have little friction between moving elements. The market is expanding as a result of the rising demand for automobiles in developing nations brought on by the rapid expansion of emerging economies. Over the past several years, the need for commercial vehicles has significantly expanded, which has also raised demand for automobile wheel bearings. The average vehicle age is expected to raise the need for automotive component maintenance, repair, and replacement, which will increase the need for automotive bearings. In addition, it is anticipated that increased demand would result from the incorporation of sensors into bearings for rotating applications that monitor speed, acceleration, and direction characteristics.
Get an overview of this study by requesting a free sample
Bearings are mechanical components that are mostly used to reduce friction between rotating parts that are in motion and to support the rotating parts so that the motion is what is wanted. In industries like automotive and aerospace & military, they are extensively used. Globally, COVID-19 has become a pandemic. Following the proclamation of COVID-19 as a pandemic in March 2020, commercial operations were shut down and statewide lockdowns were enacted, which had an impact on the world economy. Due to revenue losses brought on by the lockdowns, production facilities have been forced to shut down entirely, which has greatly decreased the adoption of bearing solutions and hampered the expansion of the wheel bearings industry. The COVID-19 virus outbreak has had a severe impact on the automobile sector, which is currently making a full recovery.
Increasing demand of thrust bearings to accelerate the market’s growth
In the automotive industry, there is a growth in demand for thrust bearings. The market for thrust bearings grows as agricultural and mining operations develop and high-tech vehicles like harvesters, lorries, and tractors are used in farming. As automated driving systems are entirely controlled by sensors, there is a strong adoption of bearings in this industry. As ball thrust bearings are typically employed for low speed, non-precision applications, they are needed for these vehicles because they run at low speeds in the fields. These bearings, which are typically found in low precision agriculture equipment, are unable to handle significant radial loads. Roller thrust bearings are typically utilized for extremely heavy thrust loads. Roller thrust bearings are primarily utilized in helical gear support in automobile gearboxes. The automotive industry is subjected to very onerous environmental laws, and the demand for low friction torque in bearings has been growing as a result. By boosting vehicle efficiency, this considerably reduces CO2 emissions. Many OEMs are focusing on manufacturing efficient products in order to meet government goals and laws on fuel economy and emissions. Downsizing of the gasoline engine has begun in Europe and Japan, which will push the market.
Increased automotive production
Automobile wheel bearing manufacture has increased along with the production of automobiles, two-wheelers, and specialty vehicles. Vehicles benefit from these bearings because they enable wheels to spin with the least amount of resistance when navigating various types of roads and potholes. The majority of cars today come with sealed hub assemblies that contain maintenance-free wheel bearings. Off-highway trucks and other specialized vehicles are frequently utilized in mining operations, which take place in polluted, dusty environments. Numerous businesses are concentrating on creating wheel bearings with superior functionality in order to safeguard against those issues. Large bearings with integrated filter seals were developed by NTN Bearing Corporation to prevent foreign items in lubrication from entering bearings. Customers are drawn to these innovations in car wheel bearings, which propels the market's expansion. Technology advancements like the incorporation of sensors in automobile wheel bearings help us assess the quality and stability of the vehicle while also protecting us from harsh conditions. The market's demand is boosted by the drive toward green mobility and the significant investment in the expansion of public road transportation infrastructure.
Automotive Wheel Bearing Market: Segmentation Analysis
The automotive wheel bearing market is segmented into the type, and vehicle type. Based on type, the market for roller bearing segment is estimated to lead the market during the forecast period. Roller bearings sustain radial and axial stresses while reducing rotational friction. Compared to other bearing types, roller bearings are more effective at withstanding high radial loads and modest axial loads.
By vehicle type, the passenger cars segment is anticipated to dominant the automotive wheel bearing market during the forecast period. Taper roller bearings and ball bearings are the two types of bearings commonly used in passenger cars. The application and load also affect them; thus they vary. The high demands placed on a wheel bearing are growing as a result of expanding transit volumes, improved performance, and altered driving habits. Rising living standards and rising disposable income are driving up the popularity of passenger automobiles among people.
Report Scope
| Attribute | Description |
|---|---|
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| CAGR (2022 to 2030) | 3.4% |
| Segments Covered |
By Type |
Throughout the projection period, Asia-Pacific is expected to stay one of the most alluring markets, and this region accounts for the majority revenue share in the market. The region's expanding demand for passenger cars and commercial vehicles is what fuels industry expansion. Due to the country's continued status as a center for the production of goods for numerous industries and the growing demand for industrial and automotive developments, China has made significant contributions to the development of new methods for determining the physical characteristics of wheel bearings.
The global Automotive wheel bearing market is segmented as follows:
By Type
By Vehicle Type
By Region/Geography
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Type
4.3.2. Market Attractiveness Analysis By Vehicle Type
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing demand of thrust bearings to accelerate the market’s growth
5.2.2. Increased automotive production
5.3. Restrains
5.3.1. Fluctuating raw materials price would hamper the market
5.4. Opportunities
5.4.1. New Advancements
6. Global Automotive Wheel Bearing Market Analysis and Forecast, By Type
6.1. Segment Overview
6.2. Ball Bearing
6.3. Roller Bearing
6.4. Plain Bearing
6.5. Others
7. Global Automotive Wheel Bearing Market Analysis and Forecast, By Vehicle Type
7.1. Segment Overview
7.2. Passenger Cars
7.3. LCVs
7.4. HCVs
7.5. Others
8. Global Automotive Wheel Bearing Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.4.4. Australia
8.4.5. South Korea
8.4.6. Rest of Asia-Pacific
8.5. South America
8.5.1. Brazil
8.5.2. Argentina
8.5.3. Rest of South America
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
8.6.3. Egypt
8.6.4. Kuwait
8.6.5. Saudi Arabia
8.6.6. Rest of Middle East & Africa
9. Global Automotive Wheel Bearing Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in the Automotive Wheel Bearing Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Type Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. SKF, Schaeffler AG.
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Vehicle Type Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Jtekt Corporation
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Vehicle Type Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. NTN Corporation
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Vehicle Type Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Iljin Bearing Co., Ltd
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Vehicle Type Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. NEI
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Vehicle Type Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. Cixing Group Co., Ltd.
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Vehicle Type Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. American Axle and Manufacturing
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Vehicle Type Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. Koyo Bearings
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Vehicle Type Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. NSK Ltd.
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Vehicle Type Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. ABC Bearings
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Vehicle Type Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
List of Table
1. Global Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
2. Global Ball Bearing Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
3. Global Roller Bearing Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
4. Global Plain Bearing Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
5. Global Others Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
6. Global Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
7. Global Passenger Cars Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
8. Global LCVs Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
9. Global HCVs Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
10. Global Others Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
11. Global Automotive Wheel Bearing Market, By Region, 2022-2030(USD Billion)
12. Global Automotive Wheel Bearing Market, By North America, 2022-2030(USD Billion)
13. North America Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
14. North America Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
15. U.S. Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
16. U.S. Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
17. Canada Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
18. Canada Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
19. Mexico Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
20. Mexico Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
21. Europe Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
22. Europe Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
23. Germany Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
24. Germany Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
25. France Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
26. France Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
27. U.K. Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
28. U.K. Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
29. Italy Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
30. Italy Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
31. Spain Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
32. Spain Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
33. Rest of Europe Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
34. Rest of Europe Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
35. Asia Pacific Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
36. Asia Pacific Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
37. Japan Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
38. Japan Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
39. China Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
40. China Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
41. India Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
42. India Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
43. Australia Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
44. Australia Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
45. South Korea Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
46. South Korea Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
47. Rest of Asia-Pacific Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
48. Rest of Asia-Pacific Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
49. South America Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
50. South America Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
51. Brazil Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
52. Brazil Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
53. Argentina Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
54. Argentina Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
55. Rest of Latin America Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
56. Rest of Latin America Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
57. Middle East and Africa Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
58. Middle East and Africa Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
59. UAE Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
60. UAE Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
61. South Africa Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
62. South Africa Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
63. Egypt Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
64. Egypt Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
65. Kuwait Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
66. Kuwait Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
67. Saudi Arabia Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
68. Saudi Arabia Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
69. Rest of Middle East Automotive Wheel Bearing Market, By Type, 2022-2030(USD Billion)
70. Rest of Middle East Automotive Wheel Bearing Market, By Vehicle Type, 2022-2030(USD Billion)
List of Figures
1. Global Automotive Wheel Bearing Market Segmentation
2. Automotive Wheel Bearing Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Automotive Wheel Bearing Market Attractiveness Analysis By Type
9. Global Automotive Wheel Bearing Market Attractiveness Analysis By Vehicle Type
10. Global Automotive Wheel Bearing Market Attractiveness Analysis By Region
11. Global Automotive Wheel Bearing Market: Dynamics
12. Global Automotive Wheel Bearing Market Share By Type(2022 & 2030)
13. Global Automotive Wheel Bearing Market Share By Vehicle Type(2022 & 2030)
14. Global Automotive Wheel Bearing Market Share by Regions (2022 & 2030)
15. Global Automotive Wheel Bearing Market Share by Company (2021)
By Type
By Vehicle Type
By Region/Geography
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date
