Global Automotive Wheel Market is expected to reach US$ 50.00 Bn by 2026 from US$ XX Bn in 2019 at CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Automotive Wheel Market is segmented by rim size, material, vehicle type, vehicle class, off highway and region. Rim size is classified as compact size (13 inch – 16 inch), mid-size (17 inch – 21 inch), large size (21 inch and above). Materials are divided into steel, alloy, carbon fibre, magnesium. Vehicle type are sub segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle. Vehicle class are classified as economy, mid-priced, luxury-priced. Off-highway are splits into construction & mining, agriculture tractors. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Driving factors in the automotive wheel markets are growing miniaturization in the products. Immensely growing demand automotive industry. Growing pollution levels along with increasing road congestion are inspiring numerous countries to heavily invest in public transport systems. Some of the restrains seems in market are raw material price fluctuations. Changing geo-political structure of various countries. Large untapped market in developing and underdeveloped countries and technological developments in tire manufacturing are opportunities in the market.
Based on the off-highway, Construction equipment constitutes various types of vehicles such as articulated dump truck, backhoe loader, motor grader, motor scraper, and others. Construction industry has witnessed grew in the recent decades. The construction of commercial buildings, which include factories, manufacturing facilities, hospitals, schools, colleges, and others, grew by 10-12% in 2016 as compared to 2015. So, the demand for construction equipment is increasing, which in turn leads to the raised sales of construction and mining equipment wheels.
On the basis of vehicle type, Passenger vehicles segment is estimated to hold the largest market share during the forecast period. So, the increase in R&D investment by OEMs and Tier 1 players to improve the drive quality and efficiency of passenger vehicles will drive the automotive wheel market in this segment. However, the rise in disposable income, particularly in developing countries such as China, India, Mexico, and others, will drive the automotive wheel market in the passenger vehicle segment.
In terms of region, Asia Pacific region leads the automotive wheel market, owing to increasing vehicle production in countries such as China and India. The vehicle production in these countries is projected to grow at 6.0% CAGR over the period of next five years. Increasing vehicle production has, in turn, increased the demand for wheels in this region. Many wheel manufacturers have set up their manufacturing plants in the region.
Key players operating on the market are, Iochpe-Maxion , Superior Industries International, Accuride Corporation, Steel Strips Wheels, Hitachi Metals, Enkei, Citic Dicastal, Zhejiang Wanfeng Auto Wheel, Borbet, Mangels Industrial, Mefro Wheels, Euromax Wheel, MHT Luxury Wheels, Status Wheels, Inc., Wheel Pros, LLC , Fuel Off-Road Wheels , SOTA Offroad, Enkei Wheels India Ltd., Ronal AG, Uniwheels , BBS Kraftfahrzeugtechnik AG.
The objective of the report is to present comprehensive Global Automotive Wheel Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Automotive Wheel Market North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the Global Automotive Wheel Market North America for Asia Pacific size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Automotive Wheel Market North America for Asia Pacific make the report investor’s guide.
The scope of the Global Automotive Wheel Market are:
Global Automotive Wheel Market, By Rim Size
- Compact size (13 inch – 16 inch)
- Mid-size (17 inch – 21 inch)
- Large size (21 inch and above)
Global Automotive Wheel Market, By Material
- Carbon fibre
Global Automotive Wheel Market, By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Wheel Market, By Vehicle Class
Global Automotive Wheel Market, By Off-Highway
- Construction & Mining
- Agriculture Tractors
Global Automotive Wheel Market, By Region
- Latin America
- Middle East
- Asia Pacific
Key players analysed in the Global Automotive Wheel Market:
- Superior Industries International
- Accuride Corporation
- Steel Strips Wheels
- Hitachi Metals
- Citic Dicastal
- Zhejiang Wanfeng Auto Wheel
- Mangels Industrial
- Mefro Wheels
- Euromax Wheel
- MHT Luxury Wheels
- Status Wheels, Inc.
- Wheel Pros, LLC
- Fuel Off-Road Wheels
- MMM GroupForeMoreInformationVisit
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