Zhejiang waxing electromechanical co.LTD.，Factory located in Shandong,Headquarters located in Zhejiang,China.
Automotive Hub Bearing (Automotive Wheel Bearing) Market Report by Market Share, Growth Drivers, Challenges, and Investment Opportunities – Forecast 2024
About Automotive Hub Bearing (Automotive Wheel Bearing) Industry
to the high sales of global automotive market, and the increasing
demand for fuel efficient, the current demand for automotive hub
bearings product is relatively high worldwide. Meanwhile, the demand
from China market was much higher due to the rapid development of
Chinese automotive market.
Because there are giant multinational players like SKF, Schaeffler, NTN and NSK in this market, the concentration of global automotive hub bearings market is relatively high. Among the top automotive hub bearings players, SKF, Schaeffler, NTN and NSK are the big five players in the world, and these four companies occupied about 56% revenue market share totally in 2017, Meanwhile, there are hundreds of small scale manufacturers all over the world.
In terms of bearings type, the first generation bearing is losing its place during last few years, meanwhile, the second and third generation bearings are more and more popular in the automotive market. The revenue market share of those three generation bearings are 12%, 44% and 39% respectively in 2017.
With the increasing sales of vehicles worldwide, the demand from automotive aftermarket has caught the attention of the automotive hub bearing manufacture recently.
The worldwide market for Automotive Hub Bearing (Automotive Wheel Bearing) is expected to grow at a CAGR of roughly 5.3% over the next five years, will reach 8970 million US$ in 2024, from 6590 million US$ in 2019, according to a new GIR (Global Info Research) study.
This report focuses on the Automotive Hub Bearing (Automotive Wheel Bearing) in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
The overviews, SWOT analysis and strategies of each vendor in the Automotive Hub Bearing (Automotive Wheel Bearing) market provide understanding about the market forces and how those can be exploited to create future opportunities.
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