Global Automotive Metal Wheel: Analysis of Opportunities Offered by High Growth Economies, Review till 2022
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The global automotive metal wheel market is expected to reflect a sluggish CAGR growth attributed to availability of light weight wheels. However, lower prices and heavy weight of the wheels has boosted demand for automotive metal wheels in cold countries. Due to its dampened speed and acceleration, manufacturers in cold regions prefer heavy metal wheels for production of vehicles as it is easier to drive in the snow. Steel wheel is expected to register the highest growth in the global market, followed by the aluminum alloy material. In terms of revenue, the aftermarket sales channel is predicted to reflect the highest growth in the global market by 2022 – end. Manufacturers are expected to register a considerable demand for casting technology for production of automotive products.
Automotive metal wheels are used in vehicles to enable faster commutation to distant destinations on ground. Heavy weight wheels witness considerable demand among the manufacturers in cold environments as light weight vehicles are comparatively faster and could skid in the snow. Metal wheels witness steady demand among automotive manufacturers as they are prone to corrosion and rust.
According to Fact.MR, the global automotive metal wheel market is expected to register a slow CAGR growth, and will represent a value of over US$ 90 Bn by the end of 2022.
Factors Fuelling Global Market Growth
Increasing demand for high-speed and light weight vehicles has pulled down demand for metal wheels among automotive manufacturers. Attributed to heavy weight, the vehicles that are equipped with metal wheel have relatively low grip on brakes. Moreover, the vehicles with metal wheels cannot support tires that are tubeless. As metal wheels are subject to rust and corrosion attributed to fluctuating weather, manufacturers prefer using materials such as alloy wheels that are lighter in weight.
Manufacturers based in countries with cold weather witness considerable demand for metal wheels in the automotive sector. Attributed to features such as heavy weight, dampened acceleration and speed, it is easier to drive vehicles equipped with wheels with heavy metal materials as there is lower possibility of skidding. Vehicles equipped with alloy wheels provides relatively fast acceleration and speed, which has more possibility of skidding in snow or hail. Such factors are projected to fuel demand for metal wheels in the automotive industry during the projected period.
Moreover, several automotive companies particularly use metal wheels that are heavy in weight. Due to such factors, the OEM are projected to witness considerable demand. This is projected to contribute towards global market growth of automotive metal wheel during the projected period.
Consumption in the Automotive Industry
Automotive manufacturers prefer using alloy wheels as compared to the metal wheels attributed to features such as heavy weight that could hamper performance of the vehicle. Grip in brakes are lower in the vehicles equipped with metal wheels as compared to the vehicles equipped with alloy wheels. Bound to such factors, the manufacturers prefer other materials such as alloy and aluminum for production of automotive wheels.
Further, vehicles equipped with metal wheels have high dissipation of heat. In addition, these wheels do not support tubeless tires. The metal wheels are also subject to corrosion and rust due to changing weather. Such factors has led manufacturers to prefer using other materials for production of the automotive wheels.
Benefits of Using Metal Wheels
While there are various factors restraining demand for the metal wheels in the automotive industry, various automotive manufacturers based in cold countries are witnessed to use metal for production of various automotive products. Attributed to lower prices, metal is witnessing considerable demand among the manufacturers in the automotive industry. As these wheels are relatively heavy in weight, manufacturers in the cold countries prefer using metal wheels as dampened speed and acceleration enables the driver to drive conveniently in snow. Such factors are likely to impact growth of the global metal wheels market positively during the predicted period. Furthermore, growing need to produce automotive products has revved up demand for metal among original equipment manufacturers. Such factors are likely to contribute towards growth of the global automotive metal wheel market through positively.
Leading market players operating in the global automotive metal wheel market include Iochpe-Maxion S.A., CITIC Limited, BORBET GmbH, Superior Industries International, Inc., Topy Industries Ltd., Accuride Corporation, Lizhong Wheel Group Ltd., Zhejiang Jingu Company Limited, Alcar Holding GMBH, and ENKEI Corporation.
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Table of Content
1. Global Automotive Metal Wheel Market - Executive Summary
2. Global Automotive Metal Wheel Market Overview
2.1.1. Global Automotive Metal Wheel Market Taxonomy
2.1.2. Global Automotive Metal Wheel Market Definition
2.2. Global Automotive Metal Wheel Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Automotive Metal Wheel Market Y-o-Y Growth
2.3. Global Automotive Metal Wheel Market Dynamics
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region
3. Global Automotive Metal Wheel Market Analysis and Forecast By Material
3.1. Global Automotive Metal Wheel Market Size and Forecast By Material, 2012-2022
3.1.1. Steel Wheel Automotive Metal Wheel Market Size and Forecast, 2012-2022
188.8.131.52. Revenue (US$ Mn) Comparison, By Region
184.108.40.206. Market Share Comparison, By Region
220.127.116.11. Y-o-Y growth Comparison, By Region
3.1.2. Aluminium Alloy Wheel Automotive Metal Wheel Market Size and Forecast, 2012-2022
18.104.22.168. Revenue (US$ Mn) Comparison, By Region
22.214.171.124. Market Share Comparison, By Region
126.96.36.199. Y-o-Y growth Comparison, By Region
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