February 3, 2020

Automotive Wheel Market Expected to Deliver Dynamic Progression Until 2024

Automotive Wheel Market

The Global Automotive Wheel Market is estimated to reach USD 25.2 Billion in 2024 at a CAGR of 4.1%. Increasing demand of light weight wheels, demand for aluminum material in automotive industry and increasing vehicle sales in immerging economies is expected to drive the automotive wheel market during the forecast period. However, high price of carbon fiber wheel are expected to restrain the market during the forecast period. Demand for 3D printed wheels and demand for two-piece wheels is expected to become an opportunity for automotive wheel market.

Automotive wheel is an important part of any automotive machine which rotate and transmits the drive from the axle to the load. Wheels should be strong enough to support the vehicle and with stand the forces caused by normal operation. It can be made from aluminium alloy or magnesium alloy. Alloy wheels are expected to dominate the automotive wheels during the forecast period. The three basic elements of a wheel are hub, spokes and rim. Some key players in automotive wheel are Accuride International Inc., Steel Strips Wheels Limited, Hitachi Metals, Ltd., Borbet Gmbh and Wheelpros LLC among others.

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Automotive Wheel Market: Report Synopsis

This market research report offers a comprehensive analysis of key market trends in the global automotive wheel market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks.

  1. On the the basis of material, the automotive wheel market is segmented into steel, aluminim, alloys, magnesium, carbon fiber and others.
  2. Based on wheel size, the automotive wheel market can be segmented into 13 inch – 16 inch, 17 inch – 20 inch and above 21 inch.
  3. Based on vehicle type, the automotive wheel market can be segmented into passenger car, light duty vehicle (LDV) and heavy duty vehicle (HDV).
  4. Based on vehicle-category, the automotive wheel market can be segmented into economy vehicles, mid-priced vehicles and luxury vehicles.
  5. Segmentation by end user includes original equipment manufacturer (OEM) and aftermarket.

The regional analysis is covered under five major regions such as North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

Automotive Wheel Market: Report Scope

The report on the automotive wheel market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Automotive Wheel market include:

  • ACCURIDE INTERNATIONAL INC. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Steel Strips Wheels Limited
  • Hitachi Metals, Ltd.
  • MAXION Wheels
  • HRE Wheels
  • Vossen Wheels
  • Other Key Companies

Automotive Wheel Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Automotive Wheel Market by Material

  • Steel
  • Aluminium
  • Alloys
  • Magnesium
  • Carbon fibre
  • Others

Automotive Wheel Market by Wheel Size

  • 13 inch – 16 inch
  • 17 inch – 20 inch
  • Above 21 inch

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Automotive Wheel Market by Vehicle Type

  • Passenger Car
  • Light Duty Vehicle
  • Heavy Duty Vehicle

Automotive Wheel Market by Vehicle-Category

  • Economy Vehicles
  • Mid-Priced Vehicles
  • Luxury Vehicles

Automotive Wheel Market, by End User

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

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Automotive Wheel Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

  • What are the major developments impacting the global market and its growth?
  • What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key players operating in the global market?
  • How are the major players leveraging in the existing market conditions?

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