The global alloy wheels market was valued at USD 15 Billion in 2019 and is projected to reach USD 24.3 Billion by 2028, growing at a CAGR of 5% from 2019 to 2028.
Exactitude Consultancy offers a 2022 Report for Alloy Wheels Market. This is the most comprehensive report available for this Market and covers 60 geographies, helping you get a truly global outlook.
The automotive alloy wheels is in the development stage because of expanding interest for lightweight wheels that have a similar strength as steel wheels along with having high thermal steadiness and flexibility. Automotive alloy wheels are made from either an alloy of magnesium or aluminum or a mixture of both. Automotive alloy wheels are lightweight wheels that improve the steering and speed of a car. Alloy wheels decrease unsprung weight and therefore transmit less inertia to the springs, thus allowing the suspension to follow the terrain more easily, thereby providing better grip. In addition, handling, steering, and cornering see a marked improvement.
Expansion in vehicle production, ascend in patterns toward technological weight progressions, and unpredictability in raw material costs are the critical elements that influence the development of the worldwide automotive alloy wheel market.
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Recent Developments->
Enkei Wheels is the leader in aftermarket wheels. Enkei custom wheels deliver the latest in wheel designs, composite alloy technology such as, casting/forged processes, rigid testing that must pass stringent JGTC Standards and unsurpassed manufacturing facilities.
RONAL Group is one of the world’s leading manufacturers and suppliers of light alloy wheels for passenger cars and commercial vehicles. Every year, about 20 million wheels can be manufactured at 13 production sites across three continents.
Regional Share->
Its major share is occupied by Asia-Pacific region and North America. APAC shares 55% of total market. APAC is showing largest market share owing to the highest population percentage in the world, with two densely populated nations China and India and rising income level of the people in this region.
Some key Alloy Wheels Market players are Borbet GmbH, Enkei, Ronal Group (Ronal Wheels), Arconic (ALCOA WHEELS), CITIC Dicastal Wheel Manufacturing Co., Ltd, MAXION Wheels, UNIWHEELS Group, Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd., Superior Industries International, Futex Alloy (CHANGSHU) Co., Ltd, and others.
Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
Alloy Wheels Market Segmentation:
Alloy Wheels Market By Vehicle Type, 2019-2028, (IN USD Million)
- Commercial Vehicle
- Passenger Vehicle
Alloy Wheels Market By Sales Channel, 2019-2028, (IN USD Million)
- OEM
- Aftermarket
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The Report’s Table of Contents includes
1. Summary
- Characteristics of the Alloy Wheels Market
- Market trends and strategies for Alloy Wheels
- Impact of COVID-19 on car care products
Five. Market size and growth of Alloy Wheels
…… 27. Competitive Environment and Company Profiles in the Alloy Wheels Market
- Major mergers and acquisitions in the Alloy Wheels Market
- Future Outlook and Potential Analysis of Alloy Wheels Market
30 appendixes
This report covers the trends and market dynamics of the Alloy Wheels Market in the key countries of Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and US. The report also includes consumer research and various future opportunities of the Market.
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