A hub unit bearing is an automotive part used in passenger cars, commercial light and heavy vehicles, and motorbikes. A hub unit bearing comprises bearing rings, cages, hub shaft, outer ring, ABS sensor, shaft end clinching, and rolling elements. There are three main categories of hub unit bearing, first-generation hub unit bearing (HUB I), second-generation hub unit bearing (HUB II), and third-generation hub unit bearing (HUB III).
The hub unit bearing types vary according to the integration of the bearings and their peripheral components. The demand for these bearings is increasing recently owing to the increase in the sales of automobile and aftermarket products. The adoption of an antilock braking system (ABS) in the vehicle is also increasing the demand for hub unit bearing. Other factors for the market growth include the rise in the demand for pre-owned/used cars and bikes in various nations across the globe and increase sales of aftermarket products.
The history of Hub unit bearing traces back to the 1970s when Mercedes-Benz invented its first antilock braking system. The company with Bosch developed a second-generation ABS system in 1978. Since then, the demand for hub unit bearing systems has gained traction. The hub unit bearing market is expected to continue to grow owing to the increasing demand from motorbikes manufacturers in various nations such as India, China, and Japan.
The hub unit bearing market is expected to surge during the forecast period as manufacturers are consistently developing more efficient products. NSK Ltd offers third-generation hub unit bearing, which has several advantages over first and second-generation hub unit bearings.
Hub unit bearing is extensively used in passenger cars. Recently, hub unit bearing is increasingly finding applications in two-wheelers/motorbikes. Most bikes available in the market have disc braking system, which requires a hub unit. Moreover, since the last decade, most new sports and cruiser bikes are launched with an integrated antilock braking system (ABS), which is expected to fuel the hub unit bearing market growth.
The demand for hub unit bearing is expected to rise in the automotive sector owing to the increasing sales of passenger cars and motorbikes. However, due to the outbreak of coronavirus pandemic, the automotive market has contracted drastically. According to the ACEA (European Automobile Manufacturers Association), the new passenger car registration was recorded at 1,065,887 units in December 2019, which declined to 956,779 units in January 2020. However, the market is projected to recover soon in various nations.
According to the recent data provided by the ACEA, the new passenger car registration in the EU was 956,779 units in January 2020, which increased to 1,031,070 units in December 2020. The recovery of the passenger cars market post-pandemic is expected to drive significant growth.
Fig1: New Passenger Car Registration in the European Union (2019)
Source: ACEA (European Automobile Manufacturers Association)
Fig2: New Passenger Car Registration in the European Union (2020)
Source: ACEA (European Automobile Manufacturers Association)
Global motorbike sale is also expected to grow exponentially. The rise in the motorbike sale is observed high in the nations, such as India, Japan, and some European countries. The bike sales declined in 2020 due to the COVID-19 pandemic. According to data published by the FADA (Federation of Automobile Dealers Association), the number of new two-wheeler vehicle registration in India in 2020 has declined by -28.7% compared to 2019. However, the two-wheeler market is expected to recover by the end of 2021.
Source: Ministry of Statistics and Program Implementation
the global hub unit bearing market is segmented into conventional, HUB I, HUB II, and HUB III. The HUB III segment is expected to dominate the market during the forecast period. The dominance can be attributed to its extensive use in passenger cars. It comprises the first-generation ball bearing, a hub shaft integrated with the outer side inner ring, and a flange integrated with the outer ring to mount on the knuckle. HUB III is compact in size and lightweight compared to other hub unit bearing, which is expected to drive the segment growth.
the global hub unit bearing market is segmented into passenger cars, commercial vehicles, and two-wheelers/motorbikes. The commercial segment is further bifurcated into light commercial vehicles and heavy commercial vehicles. The passenger cars segment is expected to account for the majority of the market share owing to the increasing passenger cars sale across the globe. The use of these hub unit bearings is extensive in passenger cars compared to motorbikes and commercial-heavy vehicles.
Fig 4: Global Sales of Commercial Vehicle (CV) 2010–2019 (Units)
Source: OICA (International Organization of Motor Vehicle Manufacturers)
Fig 5: Global Sales of Passenger Cars (PC) 2010–2019 (Units)
Source: OICA (International Organization of Motor Vehicle Manufacturers)
Asia-Pacific is expected to dominate the hub unit bearing market during the forecast period owing to high vehicle use, including passenger cars, motorbikes, and commercial vehicles. China, India, Japan, and South Korea are the major contributors to the regional market growth. China is the largest producer and consumer of passenger cars and has the largest market for electric vehicles, which is expected to grow further during the forecast period.
India is one of the largest markets for motorbikes. The country’s automotive sector is evolving at a greater pace, which is expected to drive regional market growth. In January 2021, the giant electric vehicle manufacturer, Tesla Inc., entered the Indian automotive market. Thus, electric vehicle production and sales are expected to rise in India, which is expected to bolster the Asia-Pacific hub unit bearing market during the forecast period.
Fig 6: Global BEV Stock by Country, 2019
Source: IEA (International Energy Agency)
North America is also a significant market for hub unit bearings owing to the presence of top automotive manufacturers in the U.S. and Canada. Tesla Inc, and Harley-Davidson, Inc., are present in the U.S., which can contribute to the regional market growth.
Report Metric | Details |
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CAGR | 8.3% |
Forecast Period | 2023-2031 |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Segments Covered |
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Geographies Covered |
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