Global Automotive In Wheel Market, By Off-Highway (Construction and Mining Equipment, Agriculture Tractors), Vehicle Class (Economy, Mid-Priced, Luxury Priced), End-Use (Aftermarket, OE Market), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)), Rim Size (13”-15”, 16”-18”, 19”-21”, >21”), Finish Type (Painted & Polished, Machined Alloy wheel, Two Tonned Alloy, Chromed Alloy, Anodised), Material (Alloy, Aluminium, Magnesium, Steel, Chromed, Carbon Fiber), Product (Regular, High Performance), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights Global Automotive In Wheel Market
The automotive in wheel market is expected to witness market growth at a rate of 20.60% in the forecast period of 2022 to 2029. Data Bridge Market Research report on automotive in wheel market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the automotive sector globally is escalating the growth of automotive in wheel market.
Wheel refers to an essential part of a motor vehicle. The demand for wheel is directly connected to the automotive industry. The automotive wheel is defined as a component that rotates and transmits the drive from the axle to the road. This automotive component provides a means to affix the tires.
The rise in vehicle production across the globe acts as one of the major factors driving the growth of automotive in wheel market. The increase in the inclination towards alloy wheels over steel wheels owing to their light weight and resistance to heat from tires and brakes more effectively accelerate the market growth. The increase in capital investment and research and development spending by OEMs, especially on passenger cars further influence the market. Additionally, change in lifestyle, increase in the sales of electric vehicles, rapid urbanization, government standards pertaining to components and structures, and surge in disposable income positively affect the automotive in wheel market. Furthermore, advanced materials and new compositions in wheels extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, volatility in raw material prices and decline in enthusiast segment – millennial effect are expected to obstruct the market growth. Large unorganized aftermarket for wheels and issues with maintaining a balance between performance, cost, and weight are projected to challenge the automotive in wheel market in the forecast period of 2022-2029.
This automotive in wheel market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive in wheel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive In Wheel Market Scope and Market Size
The automotive in wheel market is segmented on the basis of off-highway, vehicle class, end-use, vehicle type, rim size, finish type, material and product. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of off-highway, the automotive in wheel market is segmented into construction and mining equipment, agriculture tractors.
- Based on vehicle class, automotive in wheel market has been segmented into economy, mid-priced, and luxury priced.
- On the basis of end-use, automotive in wheel market has been segmented into aftermarket, and OE market.
- On the basis of vehicle type, automotive in wheel market has been segmented into passenger vehicle, light commercial vehicle (LCV), and heavy commercial vehicle (HCV).
- Automotive in wheel has also been segmented on the basis of rim size into 13”-15”, 16”-18”, 19”-21”, and >21”.
- Based on finish type, automotive in wheel market has been segmented into painted & polished, machined alloy wheel, two tonned alloy, chromed alloy, and anodised.
- On the basis of material, automotive in wheel market has been segmented into alloy, aluminium, magnesium, steel, chromed, and carbon fiber. Alloy has been further segmented as composite.
- Based on product, automotive in wheel market has been segmented into regular, and high performance.
Automotive In Wheel Market Country Level Analysis
The automotive in wheel market is analyzed and market size, volume information is provided by country, off-highway, vehicle class, end-use, vehicle type, rim size, finish type, material and product as referenced above.
The countries covered in the global automotive in wheel market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is expected to dominate the automotive in wheel market due to the high demand for passenger cars within the region. North America is expected to witness high growth during the forecast period of 2022 to 2029 because of the rise in the demand for lightweight and fuel-efficient vehicles in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive In Wheel Market Share Analysis
The automotive in wheel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive in wheel market.
Some of the major players operating in the automotive in wheel market report are MAXION Wheels, Superior Industries International, Inc., Accuride Corporation., Steel Strips Wheels Limited, Hitachi Metals, Ltd., Enkei International, Inc., Citic Dicastal, Wanfeng Group Co., Ltd., BORBET GmbH, ALCAR HOLDING GMBH, RONALGROUP, thyssenkrupp AG, Vossen Wheels, HRE Wheels, RAYS Co. Ltd, Weds Wheels Europe, and TOPY INDUSTRIES LIMITED., among others.
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