A wheel hub assembly is a crucial automotive component that establishes the connection between a vehicle's wheels and its suspension system. It functions as a central component, enabling smooth rotation of the wheel, supporting the vehicle's weight, and ensuring safe and efficient driving.
The primary types of wheel hub assembly include ball bearings, roller bearings, and angular contact bearings. Aluminum alloy refers to a blend of aluminum with other elements, typically copper, magnesium, or zinc, to enhance its strength, durability, and resistance to corrosion. These assemblies are crafted from materials such as aluminum alloy, carbon steel, and stainless steel. They incorporate various technologies such as wheel motor hub assembly, sensor-embedded wheel hub assembly, and splined wheel hub assembly. These assemblies are distributed through original equipment manufacturers (OEM) and aftermarket channels, catering to applications in passenger vehicles, commercial vehicles, and heavy-duty vehicles.
The wheel hub assembly market research report is one of a series of new reports from The Business Research Company that provides wheel hub assembly market statistics, including the wheel hub assembly industry global market size, regional shares, competitors with wheel hub assembly market share, detailed wheel hub assembly market segments, market trends and opportunities, and any further data you may need to thrive in the wheel hub assembly industry. This wheel hub assembly market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The wheel hub assembly market size has grown rapidly in recent years. It will grow from $5.53 billion in 2024 to $6.19 billion in 2025 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to automotive industry growth, safety and regulations, globalization of supply chains, consumer preferences and trends, maintenance and replacement demand.
The wheel hub assembly market size is expected to see rapid growth in the next few years. It will grow to $9.1 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to electrification of vehicles, advanced materials and manufacturing techniques, autonomous vehicle development, environmental regulations, rise of e-commerce in automotive aftermarket. Major trends in the forecast period include urbanization and mobility solutions, connected vehicle technologies, technological advancements, demand for lightweight materials, focus on sustainability.
The expanding automotive industry is expected to drive the growth of the wheel hub assembly market in the coming years. The automotive industry encompasses the development, production, marketing, and sale of motor vehicles, including automobiles, trucks, motorcycles, and other types of vehicles. The wheel hub assembly plays a crucial role in the automotive industry by offering several benefits that enhance vehicle safety, handling, and performance. For example, in January 2024, the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards organization, reported that the EU car market grew by 13.9% in 2023, with sales reaching 867,052 units compared to 2022, bringing the total annual volume to 10.5 million units. Most markets saw significant increases, especially in Italy (+18.9%), Spain (+16.7%), and France (+16.1%). In contrast, Germany experienced a more modest year-on-year growth of 7.3%. Thus, the growth of the automotive industry is driving the demand for wheel hub assemblies.
The increasing number of road accidents is expected to accelerate the growth of the wheel hub assembly market in the future. Road accidents refer to incidents involving at least one road user-such as a vehicle, pedestrian, or cyclist-on public or private roads that result in unintended injury or death. The wheel hub assembly is crucial for preventing accidents by ensuring effective and reliable braking, which allows for quick responses to emergency situations and helps avoid collisions. For instance, in January 2023, a report by the National Highway Traffic Safety Administration, a U.S.-based government agency, revealed that 31,785 people lost their lives in car accidents during the first nine months of 2022. Fatalities increased in 25 states during the first three quarters of 2022, with a 12% rise on rural interstates, a 10% increase in collisions involving large vehicles, and an 8% rise among motorcyclists and other individuals, compared to the first half of 2021. Therefore, the rising number of road accidents is driving the demand for wheel hub assemblies.
Leading companies in the wheel hub assembly market are pursuing innovation by introducing new products, such as SKF Hybrid Deep Groove Ball Bearings, to maintain a competitive advantage. SKF Hybrid Deep Groove Ball Bearings feature rings made of bearing steel and rolling elements made of bearing-grade silicon nitride (Si3N4). Launched by AB SKF in August 2022, these hybrid bearings target high-speed applications in the rail industry's traction motors and electric machines. The innovative design incorporates a lightweight polymeric cage, increasing the limiting speed by at least 60% compared to traditional designs. This enhances efficiency, reduces friction for quieter operation, and allows for higher power density, ultimately cutting energy consumption and lowering the total cost of ownership for electric machines and drives.
In January 2023, Fersa Bearings S.A. acquired a majority stake in Delux Bearings, an India-based manufacturer of bearings, including wheel hub assemblies. This acquisition positions Fersa Group to expand its presence in the automotive OEM and aftermarket sectors, aiming to become a leading producer of powertrain components globally, particularly for heavy-duty vehicles.
Major companies operating in the wheel hub assembly market report are Compagnie de Saint-Gobain S.A., Aisin Seiki Co. Ltd., Schaeffler Technologies AG & Co. KG, AB SKF, NSK Ltd., Federal-Mogul Corporation, GKN Automotive, HL Mando Corporation, The Timken Company, JTEKT Corporation, Nachi-Fujikoshi Corp., Wafangdian Bearing Group Co. Ltd., ILJIN Holdings Co. Ltd., RBC Bearings Incorporated, Maxion Wheels U.S.A. LLC, NTN Corporation, GMB Corporation, Xiangyang Automobile Bearing Co. Ltd., Barden Corporation, Nachi America Inc., Mevotech LP, Jiangsu Nanfang Bearing Co. Ltd., Fersa Bearings S.A., Wanxiang Group Corporation, C&U Company Limited
Asia-Pacific was the largest region in the wheel hub assembly market in 2024. The regions covered in the wheel hub assembly market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the wheel hub assembly market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The wheel hub assembly market includes revenues earned by entities by providing services such as wheel alignment, brake system services, and ABS sensor replacement services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The wheel hub assembly market consists of sales of hub bearings, hub housings, nuts and bolts, seals and gaskets, and mounting hardware. 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 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.
Wheel Hub Assembly Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on wheel hub assembly market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for wheel hub assembly ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wheel hub assembly market global report from the Business Research Company answers all these questions and many more.
The 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 market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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Table of Contents
1. Executive Summary
2. Wheel Hub Assembly Market Characteristics
3. Wheel Hub Assembly Market Trends And Strategies
4. Wheel Hub Assembly Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market
5. Global Wheel Hub Assembly Growth Analysis And Strategic Analysis Framework
5.1. Global Wheel Hub Assembly PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Wheel Hub Assembly Market Growth Rate Analysis
5.4. Global Wheel Hub Assembly Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Wheel Hub Assembly Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Wheel Hub Assembly Total Addressable Market (TAM)
6. Wheel Hub Assembly Market Segmentation
6.1. Global Wheel Hub Assembly Market, Segmentation By Bearing Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Ball Bearings
Roller Bearings
Angular Contact Bearings
6.2. Global Wheel Hub Assembly Market, Segmentation By Material, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Aluminum Alloy
Carbon Steel
Stainless Steel
6.3. Global Wheel Hub Assembly Market, Segmentation By Technology, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Wheel Motor Hub Assembly
Sensor Embedded Wheel Hub Assembly
Splined Wheel Hub Assembly
6.4. Global Wheel Hub Assembly Market, Segmentation By Sales Channel, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Original Equipment Manufacturer (OEM)
Aftermarket
6.5. Global Wheel Hub Assembly Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Passenger Vehicle
Commercial Vehicle
Heavy-Duty Vehicle
6.6. Global Wheel Hub Assembly Market, Sub-Segmentation Of Ball Bearings, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Single-Row Ball Bearings
Double-Row Ball Bearings
6.7. Global Wheel Hub Assembly Market, Sub-Segmentation Of Roller Bearings, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Cylindrical Roller Bearings
Tapered Roller Bearings
Spherical Roller Bearings
6.8. Global Wheel Hub Assembly Market, Sub-Segmentation Of Angular Contact Bearings, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Single-Row Angular Contact Bearings
Double-Row Angular Contact Bearings
7. Wheel Hub Assembly Market Regional And Country Analysis
7.1. Global Wheel Hub Assembly Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Wheel Hub Assembly Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion