Automotive Wheel Market Overview:
The comprehensive market analysis delves into the constantly shifting competitive environment, offering valuable insights into market share data and detailed profiles of prominent global players. By carefully examining the Automotive Wheel Market, the research also explores the key factors driving regional differences in the growth of the Automotive Wheel sector.
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Automotive Wheel Market Dynamic
There is room for product innovation because different regions have different rim sizes:
While 18- and 19-inch wheels are more popular in the US market, 16- and 17-inch wheels are standard on top-selling passenger cars in Europe. Given the existing lack of competition, the ongoing premiumization trend in India will be a major boost for alloy wheel makers and a huge potential for foreign producers. Up to five alloy wheel options, ranging in size from 17 to 22 inches, are available for the F-150, which has been the top-selling car in the US for 44 years running. Other OEMs like silver-painted aluminum wheels, and machined aluminum wheels are becoming more and more popular.
Automotive Wheel Market Regional Insights
In the future, fewer cars will be needed due to increased fleet utilization. By 2030, Europe's current car inventory of just over 280 million vehicles might drop to about 200 million, according to PwC Autofacts. This would be a more than 25% decrease. It is anticipated that the number of cars in the US will drop by 22% to 212 million. Due to varying market conditions, China's inventory may rise by more than 50% in the same time frame even with higher utilization.
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Automotive Wheel Market Segmentation
by Rim Size
13"-15"
16"-18"
19"-21"
Above 21"
by Material
Alloy
Steel
Aluminum
Carbon Fiber
Other
Over the course of the projected period, the alloy sector by material is anticipated to expand at a CAGR of 4.8%. Despite the fact that the weaker alloys used are usually not corrosion-resistant, alloy wheels are commonly purchased for aesthetic reasons (visible repairs). Adopting attractive bare-metal finishes—which need to be protected with paint or wheel covers—is made possible by alloys. Wheels in use may rust after three to five years, even if they are properly covered. However, refurbishing is now commonly available at a cost. If appropriate safeguards are not taken, galvanic corrosion on alloy wheels might result in tire air leaks. Additionally, alloy wheels are more difficult to repair than steel wheels when bent, however repairs are typically less expensive than replacements due to their higher cost.
by Vehicle
Passenger Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle
by End-User
Original Equipment Manufacturer (OEM)
Aftermarket
Automotive Wheel Market Key Players
1. MAXION Wheels (Germany)
2. Borbet GmbH (Germany)
3. Uniwheels (Germany)
4. BBS Kraftfahrzeugtechnik AG. (Germany)
5. Thyssenkrupp AG (Germany)
6. CITIC Dicastal Co., Ltd. (China)
7. Zhejiang Wanfeng Auto Wheel (China)
8. LIZHONG WHEEL GROUP (China)
9. Superior Industries International (US)
10. Accuride Corporation (US)
11. MHT Luxury Wheels (US)
12. Status Wheels, Inc. (US)
13. Wheel Pros, LLC (US)
14. Fuel Off-Road Wheels (US)
15. SOTA Offroad (US)
16. Forgiato Wheels (US)
17. KONIG AMERICAN (US)
18. LKQ Corporation (US)
19. HRE Performance Wheels (US)
20. Vossen Wheels (US)
21. ALCOA WHEELS (US)
22. Steel Strips Wheels Ltd. (India)
23. Enkei Wheels India Ltd. (India)
24. Hitachi Metals (Japan)
25. TOPY INDUSTRIES (Japan)
26. Mangels Industrial (Brazil)
27. Ronal AG (Switzerland)
28. CMWheels (UK)
29. Alcar Holding GmbH (Austria)
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Automotive Wheel Market Scope:
Following the market valuation phase, we embarked on an exhaustive primary research endeavor to gather, analyse, and validate crucial data. This encompassed evaluating market size, forecasting, identifying key drivers, and cross-referencing data during statistical analysis. Employing both top-down and bottom-up methodologies, alongside other validation techniques, we meticulously scrutinized market segments and sub-segments outlined in this study. All collated data underwent rigorous qualitative and quantitative analysis to ensure the provision of robust insights in the report.
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Key questions answered in the Automotive Wheel Market are:
- What is Automotive Wheel ?
- What is the growth rate of the Automotive Wheel Market?
- Which are the factors expected to drive the Automotive Wheel market growth?
- What are the different segments of the Automotive Wheel Market?
- What growth strategies are the players considering to increase their presence in Automotive Wheel ?
- What are the upcoming industry applications and trends for the Automotive Wheel Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Wheel Market?
- Who are the leading companies and what are their portfolios in Automotive Wheel Market?
- What segments are covered in the Automotive Wheel Market?
- Who are the key players in the Automotive Wheel market?
Key Offerings:
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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