Wheel Stud Market – Global Industry Analysis and Forecasts 2023-2029

Wheel Stud Market was valued at US$ 3.91 Bn in 2022. The Global Wheel Stud Market size is estimated to grow at a CAGR of 5.9% over the forecast period.
Wheel Stud Market Overview:
Wheel studs are used to support and keep the wheels of an automobile in place. These are also known as Threaded fasteners which are fastened directly to the vehicle hub through the brake drum or disc. Wheel studs are available as aftermarket or factory-installed. When a wheel is detached for tire replacement, they stay in the hub. Companies use aftermarket wheel studs to attach a wheel to a vehicle that isn’t supplied by the manufacturer. The wheel studs are semi-permanently mounted through the brake disk or brake drum directly to the vehicle hub. One should not drive the vehicle with a broken wheel stud as it puts pressure on the remaining stud and the wheel start to spin and could cause an accident.

The report explores the Wheel Stud Market's segments (Product, Distribution Channel, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Wheel Stud Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Wheel Stud Market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report
Wheel Stud Market Dynamics:
The market value of the wheel stud is expected to increase because of the rise of globalization and increase demand and supply for passenger vehicles. The wheel market is anticipated to flourish due to the increasing knowledge and advantages of wheel studs over the wheel bolts market, it facilitates tire replacement. The growth of the market is boosted by the rising accident rates and manufacturers highly focus on passenger safety devices. In the future, the rising growth of the vehicle sector has a positive and great influence on wheel studs. In the case of stripped threads, replacement parts are usually less. Lug bolts are used to replace the entire hub. The hub’s projection studs make it simple to position the wheel during installation. Additionally, several car manufacturers are expected to offer customers a mounting pin to assist in wheel reinstallation.

The market is anticipated to be hampered by the price changes in raw materials. Several other factors like environmental constraints, as well as local and federal regulations on emission management, slows down the wheel stud market’s growth. Vehicle wheel stud failure is a common problem that consumer faces frequently in their automobiles. It affects a variety of vehicles but it is majorly it is connected with big trucks. It is expected that the wheel stud market growth is restrained by the rise in incidences of wheel loss in the whole world.
Wheel Stud Market Segment Analysis
Based on Product, the Wheel Stud Market is divided into Screw-in Wheel Studs, Press-in Wheel studs, and Welded-in Wheel Studs. The welded wheel stud is used very less due to their complexity in assembly, whereas screw-in can be used simply by screwing into the existing threaded stud holes on the hub, and press-in studs can be mounted from the back of the disc or hub.

Based on Distribution Channel, the market is segmented into Original Equipment Manufacturer (OEM) and Aftermarket. Previously OEMs used two-part threaded hub and bolt assembly in place of a three-part stud arrangement (stud, hub, and nut). The advantage of the wheel stud system allows the end-user to adapt the placement instead of hub and stud arrangement. The benefits of wheel studs include ease of wheel assembly and disassembly and more consistent torque values.
Wheel Stud Market Regional Insights:
The Asia Pacific Wheel Stud market is anticipated to boost its market share due to the continued growth of the automotive sector and the presence of different automobile sectors in flourishing markets like India and China. It is expected that the ongoing development of high-quality automotive equipment by major companies and fulfilling the customer demand is another factor driving the market growth. according to IBEF India was the fifth largest automotive market in 2020, with 3.49 million units sold in commercial and passenger car categories. The production increased by 2.36% CAGR and is expected to continue during the forecast period. North America is anticipated to be the second-largest wheel stud market due to the growing penetration of wheel stud assemblies in the automotive industry in the U.S. and Canada. The high demand across this region is because of the rising market entry of various OEMs in these countries.

The objective of the report is to present a comprehensive analysis of the global Wheel Stud Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Wheel Stud Market dynamic, and structure by analyzing the market segments and projecting the Wheel Stud Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Wheel Stud Market make the report investor’s guide.
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Wheel Stud Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 3.91 Bn.


Forecast Period 2023 to 2029 CAGR:
5.9%
Market Size in 2029:
US$ 5.85 Bn.


 Segments Covered:
by Product
• Screw-in Wheel Studs
• Press-in Wheel studs
• Welded-in Wheel Studs


by Distribution Channel
• Original Equipment Manufacturer (OEM)
• Aftermarket



Wheel Stud Market, by Region
● North America (United States, Canada and Mexico)
● Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
● Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
● Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
● South America (Brazil, Argentina, Columbia and Rest of South America)
Wheel Stud Market, Key Players are:
• Elgin Fastener Group LLC
• KAMAX Holdings GmbH & Co. KG
• Superbolt, Inc.
• Valley Forge & Bolt Manufacturing Co.
• B&D Thread Rolling, Inc
• The Cold Heading Co Inc.
• Summit Tool Company
• McGee Company Inc
• Slidematic Industries, Inc
• Asia Bolt Industries LLC
• BOLT & NUT Industries Co.
• Brunner Manufacturing Co, Inc
• MNP
• SPIROL International Corporation

Frequently asked questions:

1. What is the market growth of the Wheel Stud Market?
Ans. The modified market was valued at USD 3.91 Bn in 2022 and is expected to reach USD 5.85 Bn by 2029, at a CAGR of 5.9% during the forecast period.

2. Which are the major key players in the Wheel Stud Market?
Ans. The key players in this market include Elgin Fastener Group LLC, KAMAX Holdings GmbH & Co. KG, Superbolt, Inc., Valley Forge & Bolt Manufacturing Co.

3. Which region is anticipated to account for the largest market share?
Ans. The Asia-Pacific is anticipated to dominate the Wheel Stud Market,

4. what is the forecast period for the Wheel Stud Market?
Ans. The forecast period for the Wheel Stud Market is from 2023 to 2029.

5. what is the segment in which the Wheel Stud Market is divided?
Ans. The Wheel Stud Market is fragmented based on Product, and Distribution channels. It is also divided on basis of different regions.