Automobile & Transportation / Automotive Wheel Spindle Market - Global Growth, Trends And Forecast (2022- 2027) By Types, By Application, By Regions And By Key Players: GKN, NTN, SDS, Dana, Nexteer, Hyundai-Wia, IFA Rotorion, Meritor, AAM, Neapco
Automotive Wheel Spindle Market - Global Growth, Trends and Forecast (2022- 2027) By Types, By Application, By Regions and By Key Players: GKN, NTN, SDS, Dana, Nexteer, Hyundai-Wia, IFA Rotorion, Meritor, AAM, Neapco
The Automotive Wheel Spindle market is projected to grow at a CAGR of 5.8% from 2022 to 2027.
Automotive Wheel Spindle Market Overview
The automotive wheel spindle is a part of the suspension system which transmits the hub for the wheel, attaches the upper & lower control arms, holds the ball joints, springs, and steering together. Moreover, in most vehicles, the front brake caliper is also mounted on the spindle. The wheel spindles are made up of medium carbon steel which contains 30-45% carbon. Wheel spindles are the most essential components in vehicles that help them to run smoothly and stably. The wheel hub spindle is responsible for attaching the wheel to the car. A wheel hub assembly is a pre-assembled unit that features precision bearings, seals, and sensors; thus, the wheel hub spindle is a critical part of the steering system contributing to the safe steering and handling of the vehicle.
Macroeconomic and demographic trends, such as speedy urbanization, increasing incomes, and increased participation of women and youth in the labor force, have contributed to the rise in demand for mobility. Sales of passenger cars, globally, has reached 64 million units in 2019, from 49 million units in 2009, which is a 31% surge during these 10 years. Consequently, a rise in the demand for automobiles is estimated to boost the automotive wheel hub in the market. The rising average age of vehicles, worldwide, is likely to increase the demand for automotive wheels in the automotive aftermarket.
Hyundai Wia has developed an innovative automobile drive shaft that simplifies the process of transmitting power from the transmission to the wheel bearings of a car. The company, an affiliate of Hyundai Motor Group that produces auto parts and machine tools, said its integrated drive axle (IDA) has changed the structure of the conventional automobile drive shafts that has lasted over 100 years.
What are the major Applications, Types, and Regions for Automotive Wheel Spindle Market?
Automotive Wheel Spindle Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
Non-driven wheel
Driven wheel
By Applications, it is segmented into
Passenger Vehicle (Ex. SUV)
SUV & Truck
Commercial Vehicle (Ex. Truck)
Automotive Wheel Spindle Market Regional Analysis
Asia Pacific is predicted to be a prominent contributor to the automotive wheel spindle market's growth. The Automobile Wheel Spindle Market is dominated by countries in Southeast Asia, such as India, ASEAN, Japan, and China. The global demand for automobile wheel spindles has increased due to increased urbanisation, rising household incomes, and technological improvement in Asia Pacific Regions.
North America is predicted to have a strong growth in the Automotive Wheel Spindle Market due to increased sales of electric passenger cars and investments in electrification in the automotive sector. Europe is expected to be a moderate growth market for automotive wheel spindles due to an already established market of private vehicles, with public and commercial vehicles leading market growth. Because the economy is quickly developing in terms of automobile production and new investment in the expansion of the automotive sector, the Middle East and Africa region is also a potential market for automotive spindles.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The Automotive Wheel Spindle Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Automotive Wheel Spindle Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Automotive Wheel Spindle Market report scope?
Yes, the report can be customized as per your needs
Key Takeaways from this Automotive Wheel Spindle Report
Evaluate Automotive Wheel Spindle market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level - for product types, end-use applications, and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.
Get in-depth insights on your competitor's performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Automotive Wheel Spindle market entropy - M&As, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.
Frequently Asked Questions
What is the growth rate of Automotive Wheel Spindle Market?
The Automotive Wheel Spindle Market is growing at a CAGR of 5.8% over the next 5 years.
Who are the key players in Automotive Wheel Spindle Market?
On the basis of application, Which segment is likely to hold the major share in the Automotive Wheel Spindle Market?
Passenger Vehicle segment to hold the largest share in Automotive Wheel Spindle market.
All our reports are custom made to your company's needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
INTRODUCTION
MARKET DEFINATION
MARKET DYNAMICS
MARKET SEGMENTATION
REPORT TIMLINES
KEY STAKEHOLDERS
RESEARCH METHODOLOGY
DATA MINING
SECONDARY RESEARCH
PRIMARY RESEARCH
SUBJECT MATTER EXPERT ADVICE
QUALITY CHECK
FINAL REVIEW
DATA TRIANGULATION
BOTTOM-UP APPROACH
TOP-DOWN APPROACH
RESEARCH FLOW
EXECUTIVE SUMMARY
INTRODUCTION
GLOBAL AUTOMOTIVE WHEEL SPINDLE MARKET BY APPLICATIONS
GLOBAL AUTOMOTIVE WHEEL SPINDLE MARKET BY TYPES
MARKET DYNAMICS
DRIVERS
INCREASING DEMAND FOR AUTOMOTIVE WHEEL SPINDLE
RESTRAINTS
STRINGENT ENVIRONMENTAL REGUALTIONS
HIGH COST ON MATERIALS
OPPORTUNITIES
AUTOMOTIVE WHEEL SPINDLE GROWTH
APPLICATION OF AUTOMOTIVE WHEEL SPINDLE
IMPACT OF COVID 19
GLOBALAUTOMOTIVE WHEEL SPINDLEMARKET, BY TYPES
Non-driven wheel
Driven wheel
GLOBAL AUTOMOTIVE WHEEL SPINDLEMARKET, BY APPLICATION
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.