Wheel Spindle Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The wheel spindle market size has grown strongly in recent years. It will grow from $141.65 billion in 2024 to $148.88 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to automotive industry expansion, increased vehicle ownership, globalization of automotive supply chains, consumer demand for vehicle performance, aftermarket sales and replacement needs.

The wheel spindle market size is expected to see steady growth in the next few years. It will grow to $175.19 billion in 2029 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to evolving vehicle design trends, demand for lightweight materials, rise in electric and hybrid vehicles, stricter emission standards, expansion of automotive markets. Major trends in the forecast period include integration of active suspension systems, development of electrically driven wheel spindles, focus on aerodynamic wheel spindle designs, adoption of advanced manufacturing techniques, development of modular and scalable wheel spindle designs.

The global growth of the automotive industry is anticipated to drive the expansion of the wheel spindle market in the coming years. The automotive industry encompasses a wide range of companies and organizations involved in the design, development, manufacturing, marketing, sales, repair, and modification of motor vehicles. Wheel spindles are essential components in the automotive sector, as they provide structural support for vehicle wheels, ensure smooth and secure rotation, and play a vital role in the operation of steering and braking systems, all of which contribute to safe and controlled vehicle movement. For example, in January 2024, the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards group, reported that the EU car market grew by 13.9% in 2023, with sales reaching 867,052 units compared to 2022, resulting in a total annual volume of 10.5 million units. Many markets experienced double-digit growth, particularly Italy (+18.9%), Spain (+16.7%), and France (+16.1%). In contrast, Germany saw more modest year-on-year growth of 7.3%. Thus, the expanding global automotive industry is a key driver of the wheel spindle market's growth.

The growing tire sales are expected to accelerate the growth of the wheel spindle market in the future. A tire is a rubber covering that surrounds a wheel, providing traction and supporting a vehicle's weight. The wheel spindle contributes by offering a cushioned and stable connection between the tire and the road, improving vehicle stability and ensuring smooth rotation. For example, in August 2024, the U.S. Tire Manufacturers Association, a trade group for tire manufacturers, reported that total U.S. tire shipments increased to 337.4 million units in 2024, up from 331.9 million units in 2023. Shipments of replacement passenger tires, light truck tires, and truck tires are expected to rise by 0.9%, 4.7%, and 8.9%, respectively, leading to an overall increase of 5.4 million units. Therefore, the rising tire sales are driving the demand for wheel spindles, fueling market growth.

Leading companies in the wheel spindle market are increasingly focusing on the introduction of high-performance kits, such as low-floor electric axles. A low-floor electric axle is a design specifically for electric vehicles that places the vehicle floor closer to the ground, facilitating easier boarding and improving stability. For example, in October 2023, ZF Friedrichshafen AG (ZF), a Germany-based technology company, introduced the AxTrax 2 LF, a next-generation low-floor electric axle for city buses. This compact, lightweight system integrates two standalone inverters and a high-performance electric control unit. Offered in two variants, the system delivers continuous power outputs of 260 kW and 360 kW, with peak torques of 22,700 Nm and 37,300 Nm, respectively. The AxTrax 2 LF is designed for space efficiency, energy efficiency, zero emissions, and enhanced comfort, and is compatible with ZF’s air suspension and wheel-end solutions.

In February 2024, Koyo Machinery USA, a US-based provider of solutions for industries such as automotive and aerospace, merged with JTEKT Machinery Americas. The purpose of this strategic merger is to improve operational efficiency, enhance customer service, and strengthen their global brand, positioning both companies as more competitive players in the market. JTEKT Machinery Americas Corporation is a US-based manufacturer of machine tools and systems, including wheel spindles.

Major companies operating in the wheel spindle market report are Bosch Automotive Solutions, ZF Friedrichshafen AG, Schaeffler Group, BorgWarner Inc., JTEKT Corporation, Dana Incorporated, MinebeaMitsumi Inc., SKF Group, NSK Ltd., Federal-Mogul Corporation, American Axle & Manufacturing Inc., GKN Automotive Limited, NTN Corporation, Meritor Inc., THK Co. Ltd., MOOG Steering and Suspension, Nachi-Fujikoshi Corp., Accuride Wheel End Solutions, Timken Company, Hiwin Corporation, WJB Group, Baum Hydraulics Corporation, Progressive Gear Industries Private Limited, Harbin Bearing Group Co. Ltd., Koyo Machinery USA Inc.

Asia-Pacific was the largest region in the wheel spindle market in 2024. The regions covered in the wheel spindle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wheel spindle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The wheel spindle market consists of sales of wheel bearings, spindle nuts, brake rotors, calipers, and brake pads. 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.

The wheel spindle is a crucial component of an automobile's suspension system, linking the upper and lower control arms to the wheel hub. Functioning as a cylindrical metal shaft, it acts as an axle for two components, such as the steering column and steering wheel or the wheel hub and rim. Its primary role is to transfer the steering linkage's action to the front wheel, enabling the driver to control the vehicle's direction.

The main types of wheel spindles are non-driven wheels and driven wheels. A non-driven wheel is one that does not receive power from the engine or motor and is not actively involved in propelling the vehicle. This category encompasses vehicle types such as passenger cars, light commercial vehicles, and heavy commercial vehicles. The parts are distributed through sales channels including original equipment manufacturers (OEM) and the aftermarket.

The wheel spindle market research report is one of a series of new reports that provides wheel spindle market statistics, including wheel spindle industry global market size, regional shares, competitors with a wheel spindle market share, detailed wheel spindle market segments, market trends and opportunities, and any further data you may need to thrive in the wheel spindle industry. This wheel spindle 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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