Passenger Car Bearing and Clutch Component Aftermarket Market Report 2024

The passenger car bearing and clutch component aftermarket market size has grown strongly in recent years. It will grow from $8.22 billion in 2023 to $8.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth during the historic period was driven by several factors including an increase in the average age of passenger cars, expansion in the number of passenger vehicles, heightened vehicle usage leading to greater wear and tear, economic stability, and increased consumer spending on vehicle maintenance.

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%. Anticipated growth in the forecast period will be fueled by rising demand for environmentally friendly and sustainable automotive components, expanding automotive production, ongoing aging of vehicles, and higher replacement rates. Key trends expected in this period include advancements in bearing and clutch technologies, growing demand for high-performance and fuel-efficient vehicles, the influence of e-commerce platforms, adoption of advanced materials, and the rise of electric and hybrid vehicles.

The expanding global vehicle population is expected to drive the growth of the passenger car bearing and clutch component aftermarket market. Factors such as increasing urbanization, rising disposable incomes, and growing transportation needs contribute to this trend. Aftermarket passenger car bearings and clutch components support vehicle maintenance, repair, and upgrades, enhancing the longevity and efficiency of the expanding global vehicle fleet. For example, the UK Department for Transport reported in May 2024 that 2.5 million automobiles were newly registered in the UK in 2023, a 16% increase from 2022. Consequently, the rising global vehicle population will bolster the passenger car bearing and clutch component aftermarket market.

Leading companies in the passenger car bearing and clutch component aftermarket market are prioritizing technological advancements such as dual-core technology to boost performance, durability, and efficiency, catering to the evolving needs of modern vehicles. Dual-core technology, which combines two clutch cores, enhances performance, efficiency, and durability in various mechanical systems. For instance, in October 2023, UniClutch, an Australian company known for its advanced clutch technologies and high-performance solutions for automotive and industrial applications, launched innovative clutch systems in the U.S. market. These systems, including UniClutch and UniClutch Sport, utilize unique dual-core technology to improve torque capacity and drive performance while simplifying inventory management and installation. UniClutch Sport offers a 15% increase in torque capacity while maintaining a sport-tuned pedal feel. These technologies address supply chain challenges and labor efficiency requirements, benefiting drivers, technicians, and parts distributors alike.

In January 2022, Faurecia SE, a French automotive supplier, completed the acquisition of Hella GmbH & Co. KGaA for $6 billion. This strategic acquisition is designed to strengthen Faurecia's market position by integrating Hella's advanced lighting and electronics technologies. The goal is to foster innovation, streamline operational efficiencies, and broaden product portfolios, thereby enhancing value delivery to both customers and shareholders. Hella GmbH & Co. KGaA, headquartered in Germany, specializes in manufacturing automotive parts, including aftermarket products such as clutch components and car bearings.

Major companies operating in the passenger car bearing and clutch component aftermarket market are Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Aisin Seiki Co. Ltd., Faurecia S.A., Valeo S.A., Eaton Corporation Plc, Tenneco Inc., Aptiv PLC, Schaeffler AG, MAHLE GmbH, BorgWarner Inc., Dana Incorporated, AB SKF, Minebea Mitsumi Inc., JTEKT Corporation, NSK Ltd., GKN Automotive Limited, The Timken Company, NTN Corporation, Nachi-Fujikoshi Corp., Exedy Corporation, Haldex AB, Federal-Mogul LLC, Fersa Bearings S.A.

North America was the largest region in the passenger car bearing and clutch component aftermarket market in 2023. The regions covered in the passenger car bearing and clutch component aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the passenger car bearing and clutch component aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The passenger car bearing and clutch component aftermarket encompasses the distribution and sale of replacement bearings and clutch components specifically designed for passenger vehicles. These essential parts are utilized to maintain, repair, or improve the performance of drivetrains once original components have worn out or malfunctioned. This aftermarket sector supplies these components to service centers, repair shops, and individual consumers, ensuring ongoing vehicle operation and reliability.

Key product categories within the passenger car bearing and clutch component aftermarket include wheel bearings, clutch actuators, components for clutch kits, transmission bearings, and differential bearings. Wheel bearings, for instance, play a critical role in ensuring smooth wheel rotation with minimal friction, thereby preserving vehicle performance and safety through proper wheel alignment and stability. Sales channels span authorized dealers, automotive parts retailers, online platforms, auto repair facilities, distributors, and wholesalers, catering to various vehicle applications such as sedans, utility vehicles, SUVs, and others.

The passenger car bearing and clutch component aftermarket market research report is one of a series of new reports that provides passenger car bearing and clutch component aftermarket market statistics, including passenger car bearing and clutch component aftermarket industry global market size, regional shares, competitors with an passenger car bearing and clutch component aftermarket market share, detailed passenger car bearing and clutch component aftermarket market segments, market trends and opportunities, and any further data you may need to thrive in the passenger car bearing and clutch component aftermarket industry. This passenger car bearing and clutch component aftermarket market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The passenger car bearing and clutch component aftermarket market consists of sales of clutch release bearings, pressure plates, replacement parts, and flywheels. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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