Market Overview:
The market for alloy wheels for automobiles is in a growth phase due to the growing demand for low friction tires that have the same strength as steel wheels and at the same time have high thermal stability and ductility. The alloy wheels for automobiles are made of a magnesium or aluminum alloy or a mixture of both. Alloy wheels for automobiles are lightweight wheels that improve the direction and speed of a car. Because aluminum or magnesium alloys are a good conductor of heat, automotive alloy wheels reduce heat dissipation from brakes and reduce the risk of brake failure in extreme driving conditions. The alloy wheels for automobiles have a complex geometry and meet a variety of design criteria, such as weight, style, performance, and manufacturing capacity. In the production of light-alloy wheels, factors such as the force/weight ratio and better fuel consumption are emphasized. The quality of alloy wheels has been tested and tested with advanced technologies to meet the requirements and standards of the automotive industry.
Recent developments:
Market value for Automotive Wheel Market and expected growth:
The vehicle wheel is a component that rotates and transmits the unit from the axle to the road. It also offers a way to place the tires. The wheel of the vehicle includes a rim, a spoke, and a bucket. The market for automotive wheels is expected to increase by 5.52% between 2021 and 2026. The automotive wheel market is expected to reach $ 32.87 billion in 2021 and reach $ 50.54 billion by 2026. The market is driven by better dynamics of vehicles with greater use of lightweight materials and increased production of vehicles.
Automotive Wheel Market Drivers & Restraints:
The growing demand for lightweight, corrosion-resistant alloy wheels is increasing due to changing weather conditions, which is a key factor driving the growth of the automotive alloy wheel market. Automotive alloy wheels are compatible with tubeless tires and also offer better brake grip. These are some of the benefits that are likely to increase the demand for automotive alloy wheels, which in turn will accelerate the growth of the automotive alloy wheel market in the coming years. The nominal reduction in fuel consumption and the precise handling of the steering are some of the other important factors that will drive the growth of the market for alloy wheels for automobiles.
The demand for vehicles equipped with heavy metal wheels is increasing in cold countries, as these wheels offer excellent slip resistance during snow or hail. It is estimated that this factor will hamper the growth of the market for alloy wheels for automobiles in the coming years.
In the current scenario, the preference for alloy wheels over factory-assembled tires has led to an increase in personalization activity, which, in turn, will boost sales in the aftermarket segment during the forecast period. It is expected that this factor will become a driver for the market of alloy wheels for automobiles. However, the volatility in the prices of raw materials hinders the growth of the market. In addition, it is expected that the lack of standardization in the manufacturing processes of the automotive wheel will restrict the market.
Market Taxonomy:
By Rim Size:
By Material:
By Off-Highway:
By Vehicle Type:
By Vehicle Class:
By End-Use:
Regionally, the automotive wheel market can be segmented in North America, Europe, Asia, the Pacific, Latin America, the Middle East, and Africa. It is likely that the Asia-Pacific region dominates the world market and that high-volume vehicles have been produced in the region.
Key Market Players:
Iochpe-Maxion (Brazil)
Superior Industries International (US)
Accuride Corporation (US)
Steel Strips Wheels (India)
Hitachi Metals (Japan)
Enkei (Japan)
Citic Dicastal (China)
Zhejiang Wanfeng Auto Wheel (China)
Borbet (Germany)
Mangels Industrial (Brazil)
and Mefro Wheels (Germany)
Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Automotive Wheel Market, By Rim Size
6.1.1 13-15 inch
6.1.2 16-18 inch
6.1.3 19-21 inch
6.1.4 >21 inch
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Automotive Wheel Market, By Material
6.2.1 Steel
6.2.2 Alloy
6.2.3 Carbon Fiber
6.2.4 Others
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 Automotive Wheel Market, By Off-Highway
6.3.1 Construction & Mining
6.3.2 Agriculture Tractors
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Automotive Wheel Market, By Vehicle Type
6.4.1 Passenger Cars
6.4.2 Light Commercial Vehicle
6.4.3 Heavy Commercial Vehicle
6.4.4 Market Size Estimations & Forecasts (2019-2024)
6.4.5 Y-o-Y Growth Rate Analysis
6.4.6 Market Attractiveness Index
6.5 Automotive Wheel Market, By Vehicle Class
6.5.1 Economic
6.5.2 Mid-Priced
6.5.3 Luxury-Priced
6.5.4 Market Size Estimations & Forecasts (2019-2024)
6.5.5 Y-o-Y Growth Rate Analysis
6.5.6 Market Attractiveness Index
6.6 Automotive Wheel Market, By End-Use
6.6.1 OEM
6.6.2 Aftermarket
6.6.3 Market Size Estimations & Forecasts (2019-2024)
6.6.4 Y-o-Y Growth Rate Analysis
6.6.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Rim Size
7.2.3 By Material
7.2.4 By Off-Highway
7.2.5 By Vehicle Type
7.2.6 By Vehicle Class
7.2.7 By End-Use
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Rim Size
7.3.3 By Material
7.3.4 By Off-Highway
7.3.5 By Vehicle Type
7.3.6 By Vehicle Class
7.3.7 By End-Use
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Rim Size
7.4.3 By Material
7.4.4 By Off-Highway
7.4.5 By Vehicle Type
7.4.6 By Vehicle Class
7.4.7 By End-Use
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Rim Size
7.5.3 By Material
7.5.4 By Off-Highway
7.5.5 By Vehicle Type
7.5.6 By Vehicle Class
7.5.7 By End-Use
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Rim Size
7.6.3 By Material
7.6.4 By Off-Highway
7.6.5 By Vehicle Type
7.6.6 By Vehicle Class
7.6.7 By End-Use
8. Key Player Analysis
8.1 Iochpe-Maxion
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Superior Industries International
8.3 Accuride Corporation
8.4 Steel Strips Wheels
8.5 Hitachi Metals
8.6 Enkei
8.7 Citic Dicastal
8.8 Zhejiang Wanfeng Auto Wheel
8.9 Borbet
8.10 Mangels Industrial
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
