Aluminum Automotive Wheel Market to worth over USD 76 billion by 2024
Get More Information @ http://bit.ly/2slgqG7 Regular automotive wheel market dominated the industry share with over 90% in 2016. Strong outlook in passenger cars and lightweight commercial vehicles will support the industry demand.
Get More Information @ http://bit.ly/2slgqG7
Regular automotive wheel market dominated the industry share with over 90% in 2016. Strong outlook in passenger cars and lightweight commercial vehicles will support the industry demand.
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<strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong> <strong>to</strong> hit <strong>USD</strong> 91.6 Billion <strong>by</strong><br />
<strong>2024</strong>: Global <strong>Market</strong> Insights Inc.<br />
A new report c<strong>over</strong>s <strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong> outlook providing his<strong>to</strong>rical facts,<br />
current status and future development trends information along with data on leading<br />
players and regions. <strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong> size will be <strong>worth</strong> <strong>USD</strong> 91.6 <strong>billion</strong> <strong>by</strong><br />
<strong>2024</strong>; according <strong>to</strong> a new research report <strong>by</strong> Global <strong>Market</strong> Insights, Inc.<br />
Increasing investments on budget cars <strong>by</strong> OEM’s in emerging countries will drive the<br />
industry growth. Fac<strong>to</strong>rs such as advancement in technology, tax incentives along<br />
with rise in sales of passenger cars will propel au<strong>to</strong>motive wheel market size.<br />
Shift in consumer preference on improved driving including enhanced acceleration,<br />
quick braking and better performance will support the au<strong>to</strong>motive wheel market<br />
growth. Necessity <strong>to</strong> enhance fuel efficiency due <strong>to</strong> increasing emission standards<br />
will remain key fac<strong>to</strong>rs driving product demand.<br />
Enhanced promotions on budget cars <strong>by</strong> manufacturers will create new opportunities<br />
in the forecast year. Global au<strong>to</strong>motive industry witnessed significant growth with<br />
vehicle production <strong>over</strong> 95 million units in 2016.<br />
Regular au<strong>to</strong>motive wheel contributes for <strong>over</strong> 90% of <strong>over</strong>all industry share in 2016.<br />
Strong demand for cost effective passenger cars and commercial vehicles are<br />
expected <strong>to</strong> propel the industry growth. Technological advancement accompanied <strong>by</strong><br />
rising demand for corrosion resistance components will drive au<strong>to</strong>motive wheel<br />
demand.<br />
Introduction of online portals for vehicle component sales at reasonable price will<br />
impact au<strong>to</strong>motive wheel price trend. Stringent regulations on carbon emissions<br />
encouraged the OEMs <strong>to</strong> manufacture lightweight vehicles. High initial investment<br />
along with low adoption of the high-performance products may restrain the industry<br />
growth.<br />
Passenger cars dominated the <strong>over</strong>all au<strong>to</strong>motive wheel industry share accounting<br />
for more than 80% in 2016. China is among the key contribu<strong>to</strong>rs with <strong>over</strong> 24 million<br />
units passenger car production in 2016.<br />
<strong>Aluminum</strong> au<strong>to</strong>motive wheel market will value <strong>over</strong> <strong>USD</strong> <strong>76</strong> <strong>billion</strong> <strong>by</strong> <strong>2024</strong>.<br />
Lightweight and innovative designs delivering higher performance is expected <strong>to</strong><br />
drive product demand. Steel market size is driven <strong>by</strong> competitive pricing and<br />
convenient manufacturing process.<br />
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Trailer market will observe growth <strong>over</strong> 2.5% through <strong>2024</strong>. Road transportation<br />
industry expansion due <strong>to</strong> limited railway network particularly in Nordic countries will<br />
drive product demand. In addition <strong>to</strong> this, improved aftersales services <strong>to</strong> cus<strong>to</strong>mers<br />
will drive the <strong>over</strong>all industry growth.<br />
Europe <strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong> Size, By Vehicle, 2016 & <strong>2024</strong> (<strong>USD</strong> Million)<br />
OEM au<strong>to</strong>motive wheel market registered <strong>over</strong> 368 million units demand in 2016.<br />
Development in internal combustion engine with introduction of V2V technology are<br />
the fac<strong>to</strong>rs driving the industry demand. Increasing vehicle cus<strong>to</strong>mization and<br />
component replacement due <strong>to</strong> increasing accident, corrosion and scratches will<br />
propel the aftermarket industry.<br />
The U.S. au<strong>to</strong>motive wheel market was <strong>worth</strong> <strong>over</strong> <strong>USD</strong> 10 <strong>billion</strong> in 2016. Stringent<br />
vehicle safety norms associated <strong>to</strong> efficient braking system will stimulate product<br />
demand.<br />
Asia Pacific au<strong>to</strong>motive wheel market, led <strong>by</strong> China, India and Japan will witness<br />
growth <strong>over</strong> 5% up <strong>to</strong> <strong>2024</strong>. Increasing manufacturing facilities owing <strong>to</strong> favorable<br />
g<strong>over</strong>nment policies and availability of resources will propel the regional demand.<br />
The region expects high growth in buses and coaches segment due <strong>to</strong> rising<br />
g<strong>over</strong>nment focus on better transportation services.<br />
Global industry share is fragmented in nature with presence of substantial number of<br />
domestic players. Key industry players in terms of revenue generation and<br />
geographical presence in the au<strong>to</strong>motive wheel market include Magnet<strong>to</strong>, Ronal<br />
Group, Enkei, UNI Group, Borbet, Alcoa, Maxion and Mefro. Other manufacturers<br />
include Saint Jean, Alcar, Fondmetals, Ot<strong>to</strong> Fuchs, HRE and Brey<strong>to</strong>n.<br />
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Segmentation of <strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong>s <strong>Market</strong>:<br />
<strong>Au<strong>to</strong>motive</strong> wheel market research report includes in-depth c<strong>over</strong>age of the<br />
industry with estimates & forecast in terms of volume in Million Units, revenue in<br />
<strong>USD</strong> Million from 2013 <strong>to</strong> <strong>2024</strong>, for the following segments:<br />
<strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong>, By Material<br />
• <strong>Aluminum</strong><br />
• Steel<br />
• Magnesium<br />
• Carbon fiber<br />
<strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong>, By Product<br />
• Regular<br />
• High performance<br />
<strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong>, By End-use<br />
• OEM<br />
• Aftermarket<br />
<strong>Au<strong>to</strong>motive</strong> <strong>Wheel</strong> <strong>Market</strong>, By Vehicle<br />
• Passenger cars<br />
• LCV<br />
• Heavy trucks<br />
• Buses & coaches<br />
• Trailers<br />
The above information has been provided on a regional and country basis for the<br />
following:<br />
• North America<br />
• U.S.<br />
• Canada<br />
• EU<br />
• Germany<br />
• UK<br />
• France<br />
• Spain<br />
• Italy<br />
• Russia<br />
• Czech Republic<br />
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• Poland<br />
• Slovakia<br />
• Turkey<br />
• Asia Pacific<br />
• China<br />
• India<br />
• Japan<br />
• South Korea<br />
• Malaysia<br />
• Thailand<br />
• Indonesia<br />
• Australia<br />
• Philippines<br />
• Vietnam<br />
• Taiwan<br />
• Latin America<br />
• Brazil<br />
• Argentina<br />
• Mexico<br />
• Colombia<br />
• Middle East and Africa<br />
• Iran<br />
• South Africa<br />
• Morocco<br />
• Egypt<br />
• Algeria<br />
Browse Related Report:<br />
High Performance <strong>Wheel</strong>s <strong>Market</strong> Size By Material (<strong>Aluminum</strong>, Steel,<br />
Magnesium, Carbon Fiber), By Vehicle (Premium compact, Entry-level luxury,<br />
Mid-size luxury), By End-use (OEM, Aftermarket), Regional Outlook (U.S.,<br />
Canada, Germany, UK, France, Italy, Spain, Poland, Russia, China, Japan,<br />
India, South Korea, Thailand, Brazil, Argentina, Mexico, GCC, Turkey, South<br />
Africa), Growth Potential, Price Trend, Competitive <strong>Market</strong> Share & Forecast,<br />
2017 – <strong>2024</strong><br />
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About Global <strong>Market</strong> Insights:<br />
Global <strong>Market</strong> Insights, Inc., headquartered in Delaware, U.S., is a global market<br />
research and consulting service provider; offering syndicated and cus<strong>to</strong>m research<br />
reports along with growth consulting services. Our business intelligence and industry<br />
research reports offer clients with penetrative insights and actionable market data<br />
specially designed and presented <strong>to</strong> aid strategic decision making. These exhaustive<br />
reports are designed via a proprietary research methodology and are available for<br />
key industries such as chemicals, advanced materials, technology, renewable<br />
energy and biotechnology.<br />
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