Exploring the Passenger Car Bearing and Clutch Component Aftermarket: Key Trends and Growth Forecast

The Passenger Car Bearing And Clutch Component Aftermarket Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Passenger Car Bearing And Clutch Component Aftermarket Global Market Report 2024, 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.

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.

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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

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 report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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