Auto Wheel Hub Market Scope
The auto wheel hub is an important part of the wheel that includes spoke at the centre of most wheels, it is located between brake rotors and axle. Assembly of the wheel hub is mainly used to connect the wheel to the vehicle body. The function of the auto wheel hub is to drive the wheels and swivel so that vehicle can be steered. It is highly steered safety components which must not fail under the applied loading conditions hence the demand for the auto wheel hub is increased across the globe as the adoption of vehicle among the populace is also booming.
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Auto Wheel Hub market throughout the predicted period.
Maxion Wheels U.S.A. LLC (United States), Shengwang Auto Parts (Kunshan) Co., Ltd (China), Ronal (Switzerland), Enkei (Japan), Zhengxing Wheel Group Co., Ltd (China), Citic Dicastal Wheel Manufacturing Co., Ltd (China), Lioho Machinery (Taiwan), Accuride Wheel End Solutions (United States), CMWheels Ltd (United Kingdom) and Borbet GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Alcoa (United States).
Segmentation Overview
The study have segmented the market of Global Auto Wheel Hub market by Type (Front Auto Wheel Hub and Rear Auto Wheel Hub), by Application (Commercial Vehicle, Individual Vehicle and Others) and Region with country level break-up.
On the basis of geography, the market of Auto Wheel Hub has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The search for Alternative Raw Materials with an Aim to Reduce the Weight and Cost
Market Growth Drivers:
Increasing Construction and Infrastructure Activity in the Asia Pacific Has Boosted the Demand for the Heavy Vehicle Hence the Demand For Auto Wheel Hub Is Increased, Growing Expansion of Automobile Industries and Increasing Adoption of Passenger Vehicle
Challenges:
The Auto Wheel Hub Are Prone To Overloading Of the Vehicle and Lack of Lubrication in Auto Wheel Hub Can Cause Damaged
Restraints:
Fluctuation in Price of Auto Wheel Hub Based On Vehicle Type
Opportunities:
The Improving Economy and Growing Disposable Income of the Consumer Are Also Fueling the Sales of Automobiles, Which Will Help the Growth of Auto Wheel Hub in the Market
Market Leaders and their Expansionary Development Strategies
In May 2019, Accuride Corporation, a major component supplier to the North American and European commercial vehicle industries, acquired KIC LLC ("KIC") and certain affiliates pursuant to an acquisition agreement. Terms of the deal were not disclosed. Headquartered in Vancouver, Washington, KIC is a leading supplier of wheels and wheel end components to the commercial vehicle industry in North America.
Key Target Audience
Auto Wheel Hub Manufacturers, Distributors/Traders/Wholesalers, Subcomponent Manufacturers, Industry Association and Downstream Vendors
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.