Automotive Wheel Market to Reach Value of US$ 23.1 Bn by the end of the forecast period while expanding at a CAGR of 4.0% for the period between 2018 and 2026. The market is expected to be highly consolidated with the top four players accounting for more than 50% of the market share in terms of value. The market is also witnessing increasing demand for lightweight wheels as they improve fuel efficiency and
The automotive wheel market is a competitive industry with many players vying for a piece of the pie. Automotive wheel manufacturers are constantly looking for ways to improve their products and stay ahead of the competition. One way they do this is by innovating new designs and technologies that set them apart from the rest.
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The report covers all the major trends and ongoing developments in the automotive wheel market, which have been studied thoroughly and validated with industry experts in order to make a relevant forecast. The automotive wheel market has been tracked by evaluating the sales of automotive vehicles of major geophysical companies. The automotive wheel market report covers a detailed analysis of major manufacturers. The market dynamics have also been covered in detail wherein the factors expected to drive growth in demand are studied and the major challenges faced by manufacturers and geophysical companies have also been covered.
The automotive wheel market report has been segmented on the basis of five criteria, namely material type, vehicle type, sales channel, finish type, wheel size and region. Among the segments by vehicle type, the passenger car segment is expected to register healthy growth during the forecast period with companies focusing on developing integrated solutions for the automotive wheel market as per demand from various countries.
Key Companies-
- Ronald Group
- Norbert GmbH
- Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd
- BBS GmbH
- Topy Industries Limited
- Arconic Inc.
- Dicastal North America
- Maxion Wheel
- Superior Industries
- Fuel off Road Wheels
- Central Motor Wheel of America
- Europa Wheel
- Marcellino Wheels
- Enkei Corporation
- Prime Wheel Corporation
- Others.
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Global Automotive Wheel Market Analysis by Finish Type
On the basis of finish type, the automotive wheel market has been segmented into painted & polished, machined alloy wheel, two toned alloy, chromed and anodized. The painted & polished segment holds the maximum share, as painted & polished is the standard finish type for most cars. Majority of alloy wheels are painted and this finish often starts with a sprayed primer to prep the metal.
Global Automotive Wheel Market Analysis by Material Type
Among the segments by material type, the global automotive wheel market is anticipated to be dominated by the alloy segment. Customized color, size, powder-coating, texture, engraving and even rhinestones are a trending opportunity in the automotive wheel market (especially rim manufacturers). The increasing purchasing power of people is allowing customers to customize the wheels of their vehicles. Most of the companies are also collaborating with tire manufacturers to innovate their technologies. For instance, RIMEX is collaborating with leading tire manufacturers in testing and perfecting future wheel and rim designs for the next generation.
Global Automotive Wheel Market Analysis by Region
The automotive wheel market is driven by the continuous growth in vehicle production. The APEJ region is projected to be the market leader in the global automotive wheel market with China and India as major contributors towards the growth of the APEJ automotive wheel market. The North America region is expected register significant growth in the automotive wheel market on account of the increasing demand for LCVs in the region. The U.S. is expected to lead the market share in the North America automotive wheel market, owing to the presence of prominent manufacturers. In Western Europe, Germany is projected to be the leader in the automotive wheel market, owing to the high demand from the aftermarket segment.
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Key Questions Answered in Automotive Wheel Market Report –
Who are the Major Manufacturers and Suppliers of Automotive Wheel?
What will the Automotive Wheel Market growth rate in Future?
What are the key factors driving the global Automotive Wheel Market?
Who are the key manufacturers in Automotive Wheel Market space?
What are the opportunities and threats faced by the vendors in the global Automotive Wheel industry?
What are sales, revenue, and price analysis by regions of Automotive Wheel industry?
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