Wheel Stud Market on Track for Strong Growth, Estimated to Grow at 6.2% CAGR Through 2029

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What Is the Expected CAGR for the Wheel Stud Market Through 2025?
The market size for wheel studs has seen a significant uptick in the past few years. The market is projected to increase from a valuation of $4.15 billion in 2024 to $4.4 billion in 2025, a growth marked by a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the previous years is largely due to factors such as the development of the automotive industry, regulatory safety standards, shifts in consumer preferences, globalization of supply chains, and economic trends.

What's the Projected Size of the Global Wheel Stud Market by 2029?
In the upcoming years, the wheel stud market's size is anticipated to experience substantial expansion. It is projected to inflate to $5.6 billion by 2029, escalating at a compound annual growth rate (CAGR) of 6.2%. The growth during the prediction period can be credited to the adoption of electric vehicles, intelligent manufacturing and the emergence of industry 4.0, rigorous emission standards, and an increased emphasis on sustainability along with global economic outlook. Predominant trends throughout the estimated period encompass technical progress, inventive materials, pioneering manufacturing, sustainability, and environmental considerations.

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Top Growth Drivers in the Wheel Stud Industry: What's Accelerating the Market?
The expansion of the automotive sector is predicted to fuel the wheel stud market's growth. The automotive sector denotes the industry engaged in the design, manufacture, promotion, and selling of motorized vehicles, such as cars, trucks, motorcycles, and various other vehicles. Wheel studs are extremely valuable to the car industry due to their vital contribution in guaranteeing the wheels' secure and trustworthy attachment to the vehicles. To illustrate, in May 2023, as per the data revealed by the European Automobile Manufacturers' Association (ACEA), a Belgium-based motor vehicle manufacturing association, the worldwide motor vehicle production escalated to 85.4 million units, signifying a 5.7% growth relative to 2021. Furthermore, vehicle production in North America rose to 14,901 thousand units in 2022, compared to 13,596 units in 2021. Hence, the progression of the automative sector is predicted to be the driving force behind the wheel stud market's growth. A heightened emphasis on vehicle safety is anticipated to boost the future growth of the wheel stud market. Vehicle safety signifies the steps and technological advancements created to safeguard passengers, pedestrians, and other road users from harm, and mitigate the possibility of accidents while driving or travelling in a motor vehicle. Wheel studs serve a crucial role in road safety by ensuring the wheels of the vehicle are appropriately installed, torqued, and sustained, to avert road accidents. For instance, in May 2023, as per a publication by the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australian organization, in 2022, there were 1,194 deaths due to road crashes. This marks an increase of 5.8 percent from 2021. Over the decade, national death tolls have generally remained stagnant. Thus, the amplified emphasis on vehicle safety is steering the wheel stud market's growth.

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What Trends Will Shape the Wheel Stud Market Through 2029 and Beyond?
Leading businesses in the wheel stud market are concentrating on the production of innovative products like Threadstrong Fasteners to boost their market profitability. Items such as lug nuts or bolts, known as thread-strong fasteners, are sturdy, safe, and effective tools used to attach wheels to wheel studs on a vehicle's axle. For example, in February 2022, MacLean-Fogg Component Solutions, an American automotive component producer, unveiled Threadstrong, a new set of aftermarket wheel fasteners manufactured in the USA. These products are aimed at emphasizing material strength, resistance to corrosion, and durability. In addition, meticulous engineering and quality inspection ensure the appropriate level of friction between the load-bearing surface of the fastener and the wheel, preventing dangerous situations like loose fasteners or extended 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 Top Companies are Driving Growth in the Wheel Stud Market?
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

Which Regions Will Dominate the Wheel Stud Market Through 2029?
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

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