Press release
Magnesium Wheel Market By Outstanding Players: PVM Brakes Manheim, Enkei Corporation, BBS, O.Z. and APP Tech
Magnesium Wheel
Potential outlook in automotive industry accompanied by lightweight vehicle trends will drive magnesium wheel market growth. Shifting preference for customized vehicles along inclination towards green mobility will propel magnesium wheel market size.
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Global magnesium wheel market is share is moderately consolidated owing to presence of few multinational industry players. Some of the key players include SMW Engineering Ltd., PVM Brakes Manheim, Enkei Corporation, BBS, O.Z. and APP Tech. Mergers, acquisitions, collaborations and supply agreements are the key strategies adopted.
Magnesium wheel market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units and revenue in USD million from 2013 to 2024, for the following segments:
Magnesium Wheel Market, By Manufacturing: Cast, Forged
Magnesium Wheel Market, By End-Use: OEM, Aftermarket
Magnesium Wheel Market, By Vehicle: Bikes, Premium/ sports cars
Rising demand for European car brands due to rapid globalization will fuel the magnesium wheel market growth. For instance, European exports in automotive industry was valued over USD 130 billion in 2016.
Scope of Report:
Cast manufacturing was valued over USD 5 billion in 2016. Low production cost and easy manufacturing process are the key factors supporting business growth. However, heavy weight as compared to forged products may hamper demand.
Forged manufacturing will observe gains over 3.5% up to 2024. High durability, strength, better suspension and reduced weight are the major properties fueling forged magnesium wheel market growth. Regulatory support for lightweight automotive components to reduce emissions and increase fuel efficiency will propel the product demand.
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Noteworthy mentions in the report with regards to the regional frame of reference also include the individual contribution made by manufacturers in terms of sales and revenue, strictly confined to each region, meticulously simplifying the deliverables for potential investors.
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