Wheel Stud Global Market Report 2024

The wheel stud market size has grown strongly in recent years. It will grow from $3.87 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The historic growth of wheel studs can be attributed to the expansion of the automotive industry, increased emphasis on safety and regulations, evolving consumer preferences, globalization of supply chains, and broader economic trends.

The wheel stud market size is expected to see strong growth in the next few years. It will grow to $5.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The forecasted growth of wheel studs can be attributed to the increasing adoption of electric vehicles, advancements in smart manufacturing and Industry 4.0 practices, stringent emission standards, a rising focus on sustainability, and the global economic outlook. Major trends expected in the forecast period include ongoing technological advancements, innovations in materials, the integration of smart manufacturing practices, and a heightened emphasis on sustainability and environmental concerns.

The expansion of the wheel stud market is anticipated to be strongly influenced by the growth trajectory of the automobile industry. This industry encompasses the development, manufacturing, marketing, and distribution of various motor vehicles, including automobiles, trucks, motorcycles, and related vehicles. Wheel studs play a pivotal role within this sector by ensuring the secure and dependable attachment of wheels to vehicles. Notably, in May 2023, data released by the European Automobile Manufacturers' Association (ACEA), a Belgium-based association for motor vehicle manufacturing, indicated a global motor vehicle production surge to 85.4 million units, denoting a 5.7% growth compared to 2021. Concurrently, North American vehicle production escalated to 14,901 thousand units in 2022 from 13,596 units in 2021. Consequently, the upward trajectory of the automobile industry is set to be a driving force behind the expansion of the wheel stud market.

The heightened emphasis on enhancing vehicle safety is poised to act as a significant catalyst in the burgeoning growth of the wheel stud market. Vehicle safety initiatives encompass a range of measures and technological advancements aimed at safeguarding vehicle occupants, pedestrians, and other road users, thereby reducing the likelihood of accidents during travel. Wheel studs play a crucial role in promoting road safety by securely fastening vehicle wheels, ensuring proper installation, torque, and maintenance to mitigate the risk of road accidents. As highlighted in May 2023 by the Insurance Institute for Highway Safety, a US-based nonprofit organization specializing in research and communication on road safety, there were 42,939 reported fatalities in motor vehicle crashes in the US during 2021, amounting to an economic expenditure of $340 billion. This escalating focus on vehicle safety measures is actively propelling the expansion of the wheel stud market.

The projected increase in incidents related to wheel loss is anticipated to impose limitations on the expansion of the wheel stud market throughout the forecast period. Wheel loss occurrences may stem from various factors, including the excessive tightening of lug nuts, corrosion, and incorrect installation of wheel studs. Such incidents have the potential to result in accidents and fatalities, thereby impacting the demand for wheel studs negatively. As reported in September 2023 by Wheely Safe, a UK-based provider specializing in wheel and tire safety systems, an estimated range of 7,500 to 11,000 wheel fixing defects arise annually, leading to 150 to 400 incidents of wheel detachment and 50 to 134 accidents causing damage alone. Consequently, the surge in wheel loss occurrences is poised to exert a dampening effect on the growth trajectory of the wheel stud market.

Prominent entities within the wheel stud market are strategically directing efforts towards the development of innovative products such as Threadstrong Fasteners, aimed at bolstering market profitability. Threadstrong fasteners, including lug nuts or bolts, represent resilient, secure, and efficient components responsible for fastening wheels to wheel studs located on a vehicle's axle. Notably, in February 2022, MacLean-Fogg Component Solutions, a renowned US-based manufacturer specializing in automotive components, introduced Threadstrong, a line of aftermarket wheel fasteners manufactured in the USA. These products prioritize attributes such as material strength, resistance to corrosion, and overall durability. Additionally, meticulous engineering and stringent quality control measures ensure optimal friction between the load-bearing surface of the fastener and the wheel, thereby mitigating unsafe conditions such as loose fasteners or stretched studs. This focus on innovative product development underscores a commitment to enhancing safety and reliability within the wheel stud market.

In April 2022, American Axle and Manufacturing Holdings Inc., a prominent US-based manufacturer specializing in automotive driveline and drivetrain components, successfully completed the acquisition of Tekfor Group for $147.5 million (€125 million). Through this strategic acquisition, American Axle and Manufacturing Holdings Inc. intends to leverage its inherent capabilities, unlocking substantial synergies within the industry. The acquisition is positioned to enable the company to diversify its geographical footprint, broaden its customer sales distribution, and enhance its array of electrification products. This acquisition signifies a strategic move aimed at reinforcing American Axle and Manufacturing Holdings Inc.'s position within the automotive industry while expanding its product portfolio and market presence. Tekfor Group, the acquired entity, operates as a German automotive equipment company primarily involved in the production of wheel hubs and wheel studs.

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.

Asia-Pacific was the largest region in the wheel stud market in 2023. 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 The countries covered in the wheel stud market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The wheel stud market consists of sales of stud conversion kits, wheel stud repair kits, and performance wheel studs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

These wheel studs are distributed through various channels, including original equipment manufacturers (OEM) and aftermarket suppliers. They find applications across diverse industries such as aerospace, automotive, oilfield machinery, farm and garden machinery, construction machinery, and others.

The wheel stud market research report is one of a series of new reports that provides wheel stud market statistics, including the wheel stud industry global market size, regional shares, competitors with a wheel stud market share, detailed wheel stud market segments, market trends and opportunities, and any further data you may need to thrive in the wheel stud industry. This wheel stud market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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