Global Wheel Studs Market, By Product (Screw-In Wheel Studs, Press-In Wheel Studs and Welded-In Wheel Studs), Distribution Channel (Original Equipment Manufacturer (OEM) and Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Wheel Studs Market
Data Bridge Market Research analyses that the wheel studs market would exhibit a CAGR of 6.40% for the forecast period. Increasing preferences towards high quality and lightweight material, growing production of vehicles across the globe, rising investment for research and development on passenger car are the major factors attributable to the growth of wheel studs market. This signifies that, the global wheel studs market would stand tall by USD 580.16 million by the year 2028.
Wheel studs are used to hold the wheels of a vehicle. The wheel studs are semi-permanently mounted through the brake disk or brake drum directly to the vehicle hub. Therefore, it is advised to properly upkeep the vehicle and maintains the standard of wheel studs. One should not drive the vehicle with a broken wheel stud. This is because if a pair of wheel studs gets broken, it puts pressure on the remaining wheel studs. And this in turn can lead to breaking off the remaining wheel studs. Also, the wheel will start to wobble and could fall off and possibly cause an accident. The two most common cause of failure of wheel studs are improper installation by tire service technicians and over torqueing of the lug nuts. Wheel studs are a better alternative to wheel bolts as they provide the ability to obtain much more accurate torque values. This is because unlike wheel bolts, wheel studs don't twist during tightening. In other words, wheel studs stretch in one axis alone while tightening which helps in providing much more accurate clamping forces.
Increased globalization and rising demand and supply for passenger vehicles have resulted in growth in the wheel studs market value. Increased awareness about the benefits of wheel studs over wheel bolts will also create lucrative growth opportunities for the wheel studs market. Increasing incidences of accidents coupled with increased focus by the manufacturers on passenger safety mechanisms will also foster the wheel studs market growth rate. Overall growth and expansion of automobile industry will directly and positively impact the demand for wheel studs in the long run.
However, fluctuations in the prices of raw materials will pose a major challenge to the growth of the wheel studs market. Stringent environmental regulations coupled with state and federal regulations on emissions control will further derail the wheel studs market growth rate.
This wheel studs market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on wheel studs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Wheel Studs Market Scope and Market Size
The wheel studs market is segmented on the basis of product and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the wheel studs market is segmented into screw-in wheel studs, press-in wheel studs and welded-in wheel studs.
- On the basis of distribution channel, the wheel studs market has been segmented into original equipment manufacturer (OEM) and aftermarket.
Global Wheel Studs Market Country Level Analysis
Global wheel studs market is analysed and market size insights and trends are provided by country, product and distribution channel as referenced above.
The countries covered in the wheel studs market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific region is undergoing substantial gains and is set to register the highest compound annual growth rate (CAGR) the forecast period. Presence of large number of automobile manufacturers in the region is one of the major factors responsible for propelling growth in the wheel studs market value. Increased demand for passenger vehicles on the roads coupled with increasing personal disposable income are some other important wheel studs market growth determinants.
The country section of the wheel studs market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Wheel Studs Market Share Analysis
The wheel studs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wheel studs market.
The major players covered in the wheel studs market report are KAMAX, Elgin Fastener Group LLC, STUDIO MCGEE, Nord-Lock International AB, Valley Forge & Bolt Mfg. Co., Summit Tools, Slidematic, Beachlawn, National Bolt & Nut Corporation, Asia Bolts Industries LLC, BOLT & NUT INDUSTRY CO., LTD., Brunner Manufacturing Co., Inc., TA CHEN INTERNATIONAL, INC., MNP, SPIROL International Corporation, SPS Technologies, Consolidated Metal Products, Inc., Acument Intellectual Properties LLC and ND Industries, Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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