Automotive Wheel Market Overview:
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Automotive Wheel Market” was USD 39.96 Bn. in 2022 and is expected to grow at a CAGR of 5.9 percent over the forecast period USD 59.69 Bn. by 2029.
Automotive Wheel Market Scope and Methodology:
Regional analysis of the Automotive Wheel market conducted at a local, regional and global level. The competitive analysis is conducted to understand the growth models and strategies used by key players and also provides a detailed analysis of the dominant market share and penetration in the market. The report also offers information on the emerging regions that are expected to be major markets for the Automotive Wheel market. The primary and secondary data sources with qualitative and quantitative analysis are used in the report. Primary research is conducted from questionnaires and telephonic interviews with market leaders, business owners, etc., while secondary research includes financial reports annual reports, white papers, etc. The report presented the SWOT, PORTER and PESTLE Analysis with the potential impact of macro-economic factors on the Automotive Wheel market. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to determine the competitive intensity of the industry in the Automotive Wheel Market.
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Automotive Wheel Market Regional Insights:
The regional analysis in a Automotive Wheel market research report provides valuable insights into the variations of the Automotive Wheel market across diverse geographical areas. It involves a detailed exploration of market trends, competitive dynamics, consumer patterns, and regulatory frameworks within each region.
Automotive Wheel Market Dynamics:
The digital era, sometimes referred to as the 4.0 industry, is present in all areas of the economy and has a big impact on its expansion. The automotive sector is changing, which has an impact on all of its related businesses, including the market for automobile tyres. Huge organisations are transitioning away from making straightforward products like tyres or cars and towards selling complex services that are tailored to individual customers’ needs using new technologies. This shift is being observed in the industry. Three major pillars that have arisen in the development of such solutions integrated into the current market are connectivity, mobility, and autonomy.
Automotive Wheel Market Segmentation:
Alloy growth is anticipated to increase at a CAGR of 4.8% over the course of the forecast period. Even though the less expensive alloys used are often not corrosion-resistant, alloy wheels are sometimes purchased for aesthetic reasons (visible repairs). With the use of alloys, appealing bare-metal finishes can be used, but they must be protected with paint or wheel coverings. The wheels in use may rust after three to five years, even if they are adequately covered; however, refurbishing is now generally accessible at a cost. If necessary safeguards are not taken, alloy wheels’ propensity for galvanic corrosion, which can result in tyre air leakage, can be a problem. While their higher cost normally makes repairs less expensive than replacement, bent alloy wheels are more difficult to mend than steel wheels.
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Automotive Wheel Market Key Players:
1. MAXION Wheels (Germany)
2. Borbet GmbH (Germany)
3. Uniwheels (Germany)
4. BBS Kraftfahrzeugtechnik AG. (Germany)
5. Thyssenkrupp AG (Germany)
6. CITIC Dicastal Co., Ltd. (China)
7. Zhejiang Wanfeng Auto Wheel (China)
8. LIZHONG WHEEL GROUP (China)
9. Superior Industries International (US)
10. Accuride Corporation (US)
11. MHT Luxury Wheels (US)
12. Status Wheels, Inc. (US)
13. Wheel Pros, LLC (US)
14. Fuel Off-Road Wheels (US)
15. SOTA Offroad (US)
16. Forgiato Wheels (US)
17. KONIG AMERICAN (US)
18. LKQ Corporation (US)
19. HRE Performance Wheels (US)
20. Vossen Wheels (US)
21. ALCOA WHEELS (US)
22. Steel Strips Wheels Ltd. (India)
23. Enkei Wheels India Ltd. (India)
24. Hitachi Metals (Japan)
25. TOPY INDUSTRIES (Japan)
26. Mangels Industrial (Brazil)
27. Ronal AG (Switzerland)
28. CMWheels (UK)
29. Alcar Holding GmbH (Austria)
Key questions answered in the Automotive Wheel Market are:
- What is Automotive Wheel?
- What was the Automotive Wheel market size in 2022?
- What are the different segments of the Automotive Wheel Market?
- What growth strategies are the players considering to increase their presence in Automotive Wheel?
- What are the upcoming industry applications and trends for the Automotive Wheel Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Wheel Market?
- Who are the key players in the Automotive Wheel market?
- What major challenges could the Automotive Wheel Market face in the future?
- What segments are covered in the Automotive Wheel Market?
- Who are the leading companies and what are their portfolios in Automotive Wheel Market?
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
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