Wheel studs are employed to hold the wheels of an automobile. They are basically the threaded fasteners mounted through the brake disk or brake drum directly to the vehicle hub. Lug nuts are fitted to the wheel stud to attach the wheel. Earlier OEMs used to employ a threaded hub and bolt arrangement, two parts in place of the three-part stud arrangement, which include the stud, hub and nut. But the added advantages of the wheel stud arrangement compel end users to adopt this arrangement in the replacement of the hub and bolt arrangement. The advantages of wheel studs include ease of mounting and dismounting wheels, and they also have more consistent torque values.
Three types of wheel studs are available in the market, namely screw-in, press-in and welded-in. Among the three, welded-in wheel studs are rarely used, owing to their complex installation. Screw-in studs are simply screwed into the existing threaded bolt hole in the hub while press-in studs are installed from the back side of the disk or drum hub.
Wheel Studs Market: Dynamics
The increasing automobile production and parc is estimated to surge the demand for automotive wheel studs in the global market. The expansion of the automotive industry is further anticipated to accelerate the demand for automotive wheel studs in the market. The increasing average work life of vehicles, globally, is likely to upsurge the demand for automotive wheel studs in the automotive aftermarket. Rising penetration of wheel stud arrangement in automobiles across emerging economies such as Russia, India and China is estimated to drive the demand for automotive wheel studs during the forecast period.
However, low awareness among the population regarding the applications and advantages of wheel studs may restrain the growth of the market during the forecast period. Nevertheless, numerous established OEM players are increasingly focusing on improving ease and efficiency in the area of applications. However, the ongoing trend in industries of using better equipment to derive better results is expected to upsurge the demand for wheel studs during the forecast period.
Wheel Studs Market: Segmentation
Wheel Studs Market: Regional Outlook
Geographically, the wheel studs market has been segmented into eight regions: the Middle East and Africa, North America, Latin America, Western Europe, Eastern Europe and the East Asia Pacific, South Asia and Oceania. During the forecast period, North America and Europe are expected to hold major shares of the global wheel studs market. They are expected to remain prominent regions during the forecast period, owing to the presence of prominent OEMs in this region. Asia Pacific is expected to be the fastest growing region in the wheel studs market, owing to the high growth of new vehicle sales in the region. North America and Europe are mature markets and account for more than half of the global wheel studs market. The rest of the world is estimated to account for a relatively small share of the wheel studs market.
Wheel Studs Market: Market Participants
Some of the examples of the market participants operating across the value chain of the global wheel studs market include:
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