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Leading Growth Driver in the Wheel Stud Market in 2025: Automobile Industry Expansion Fuels Wheel Stud Market Growth Driver's Influence
Wheel Stud Market
The market size of wheel studs has been exhibiting robust growth in recent years. The market is projected to balloon from a value of $4.15 billion in 2024 to an impressive $4.4 billion in 2025, following a compound annual growth rate (CAGR) of 6.0%. Factors that have significantly contributed to the growth throughout the historical period include expansion in the automotive industry, safety standards and regulatory norms, changing consumer preferences, the worldwide reach of supply chains, and prevailing economic trends.
Anticipated to witness significant expansion in the coming years, the wheel stud market is projected to reach a valuation of $5.6 billion by 2029, with a compound annual growth rate (CAGR) of 6.2%. This forecasted growth is largely attributable to several factors including the increasing adoption of electric vehicles, the advent of smart manufacturing and Industry 4.0, stricter emission norms, an intensified emphasis on sustainability, and global economic prospects. Key trends anticipated during the forecast period are technological progress, material advancements, smart manufacturing, sustainability, and environmental awareness.
What Is Contributing to the Growth of the Wheel Stud Market?
The wheel stud market's expansion is projected to be accelerated by the growing automobile industry. The automotive industry encompasses the designing, manufacturing, advertising, and selling of motor vehicles like cars, trucks, motorcycles, and other types of vehicles. Wheel studs are crucial for this industry as they ensure that the wheels are safely and securely attached to the vehicles. For example, data released by the European Automobile Manufacturers' Association (ACEA), a motor vehicle manufacturing association based in Belgium, in May 2023 showed that global motor vehicle production had increased by 5.7% to 85.4 million units when compared to 2021. Moreover, vehicle production in North America saw an increase, reaching 14,901 thousand units in 2022 from 13,596 units in 2021. Consequently, the growth of the automotive industry is anticipated to bolster the wheel stud market.
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Which Key Market Leaders Are Driving Wheel Stud Industry Growth?
Major companies operating in the wheel stud market report are Meritor Inc., Dorman Products Inc., McGee Company Inc., Hendrickson Holdings LLC, Slidematic Industries Inc., Consolidated Metco Inc., Asia Bolt Industries LLC, Accuride Corporation, MNP Corporation, Stemco Products Inc., The Cold Heading Co Inc., Tramec Sloan LLC, Dayton Parts LLC, Wilson-Garner Company, Webb Wheel Products Inc., Brunner Manufacturing Co Inc., Moroso Performance Products, Fontaine Fifth Wheel, B & D Cold Headed Products, Ken-Tool, Velvac Inc., Associated Fastening Products Inc., Crown Automotive Sales Co. Inc., Valley Forge and Bolt Manufacturing Co., Kluhsman Racing Components
What Are the Emerging Trends in the Wheel Stud Industry?
Major players in the wheel stud market are concentrating on producing inventive items like Threadstrong Fasteners to enhance their market profitability. Threadstrong fasteners, such as lug nuts or bolts, present an efficient, safe, and durable solution to connect wheels to wheel studs on a vehicle's axle. In a recent development in February 2022, MacLean-Fogg Component Solutions, an American manufacturer of automotive components, introduced Threadstrong, a line of wheel fasteners crafted in the USA. These products center on material durability, strength, and resistance to corrosion. Additionally, meticulous engineering and strict quality control secure an optimal level of friction between the load-bearing surface of the fastener and the wheel, which prevents safety hazards such as relaxed fasteners or elongated studs.
What Are the Main Segments in the Wheel Stud Market?
The wheel stud market covered in this report is segmented -
1) By Product: Screw-In Wheel Studs, Press-In Wheel studs, Welded-In Wheel Studs
2) By Distribution Channel: Original Equipment Manufacturer (OEM), After market
3) By Application: Aerospace, Automotive, Oilfield Machinery, Farm And Garden Machinery, Construction Machinery, Other Applications
Subsegments:
1) By Screw-In Wheel Studs: Standard Screw-In Studs, Extended Length Screw-In Studs
2) By Press-In Wheel Studs: Standard Press-In Studs, High-Strength Press-In Studs
3) By Welded-In Wheel Studs: Spot Welded Studs, Continuous Welded Studs
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Which Geographic Area Leads the Wheel Stud Market?
Asia-Pacific was the largest region in the wheel stud market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wheel stud market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Wheel Stud Global Market Report?
- Market Size Analysis: Analyze the Wheel Stud Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Wheel Stud Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Wheel Stud Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Wheel Stud Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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