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Automotive Alloy Wheels – Global Market Outlook (2019 -2027)

Global Automotive Alloy Wheels Market is expected to reach $28.75 billion by 2027 growing at a CAGR 8.0% during 2019 to 2027.

 

Some of the key players profiled in the Automotive Alloy Wheels Market include Arconic (ALCOA WHEELS), Borbet GmbH, CITIC Dicastal Wheel Manufacturing Co., Ltd, Enkei, Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd., FUTEX ALLOY (CHANGSHU) Co., Ltd, MAXION Wheels, Ronal Group (Ronal Wheels), Superior Industries International, UNIWHEELS Group, TSW Alloy Wheels, BBS GmbH, CMS Jant ve Makina San. AS, Howmet Aerospace Inc, and Iochpe-Maxion SA.

Some of the factors such as growing demand for alloy wheels owing to their lightweight and corrosion-resistant properties  are propelling the growth of the market. However, the volatility of raw material prices and unorganized aftermarket for wheels are hampering the growth of the market.

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Automotive alloy wheels are made of alloys of light metals such as aluminum, magnesium, or nickel. These wheels are lighter, stronger, give better vehicle ride quality, and improve the vehicle appearance, as compared to spoke wheels. Moreover, automotive alloy wheels enhance heat dissipation from brakes as these alloy wheels manufactured from aluminum and magnesium are good conductors of heat, which decreases the chances of vehicle brake failure under intense driving conditions.

Based on the vehicle type, the passenger vehicle segment is likely to have a huge demand due to rising customization and replacements post-crash. The lifespan of alloy wheels is similar to that of the vehicle itself; therefore, this segment accounted for a minor share of the global automotive wheels market. However, maintenance and repairs of vehicles involved in a crash attributed to the rise in market share.

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By geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the rising population and changing living standards of people. Moreover, the easy availability of raw materials and supportive government regulations for industrialization is another factor expected to support revenue growth of Asia Pacific automotive alloy wheel market.

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Wheel Sizes Covered:
• Compact Size
• Mid-Size
• Large Size

Vehicle Types Covered:
• Commercial Vehicles
• Two Wheelers
• Passenger Vehicle

Sales Channels Covered:
• After Market
• Original Equipment Manufacturer (OEM)

Finish Types Covered:
• Two-Toned Alloy Wheel
• Polished Alloy Wheel
• Painted Alloy Wheel
• Machined Alloy Wheel
• Chromed Alloy Wheel

Types Covered:
• Forging
• Casting

Diameter Types Covered:
• 26 Inch & Above
• 23 Inch- 25 Inch
• 20 Inch-22 Inch
• 17 Inch-19 Inch
• 14 Inch-16 Inch
• 11 Inch-13 Inch

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements

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