Press release
Wheel Rim Market Size & Share For Automotive - Industry Trend and Forecast 2018 - 2026
The main objective of this report is to define, describe, and forecast the global “Wheel Rim Market For Automotive” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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The rim is the exterior edge of a vehicle wheel that holds the tire. It styles the outer circular part of the wheel on which the inside edge of the tire is mounted in vehicles. It is characterized by its design, diameter, and width. It provides support to the tire of the vehicle. It also performs various functions such as acting as a supporting link to the suspension unit of the vehicle.
Tires should be protected as replacing them is a costly affair. Protection of the tire is a driving factor for the automotive wheel rim market. Alloy materials act as heat conductors. Vehicle wheel rim made with alloy materials can help brakes disperse their heat more efficiently. Cooler operating temperatures can reduce brake tear and improve the receptiveness of the brakes under extreme conditions. This is expected to fuel the automotive wheel rim market in the near future. Rise in production of vehicles over the next few years is also estimated to propel the automotive wheel rim market. However, the need for replacement due to accidents is a disadvantage of wheel rims for automotive.
Wheel rim market for automotive can be segmented based on material type, size, vehicle, sales channel, and region.
Based on material type, the wheel rim market for automotive can be classified into steel wheel rim, and two more wheel rim types. Steel wheel rims are the cheapest option, and they are also very durable. However, steel rims are heavier than their counterparts. As weight is major concern in manufacturing of the automobile, use of steel wheel rim is likely to decline during the forecast period 2018 – 2026.
In terms of size, the wheel rim market for automotive can be categorized into below 20”, and two broader sub segments. Size of the rim changes as per the vehicle type.
Based on vehicle type, the automotive wheel rim market can be classified into passenger vehicles (PV) and commercial vehicles (CV). Passenger vehicles include hatchback cars, sedans, multi- purpose vehicles (MPV), and sport utility vehicles (SUV). Commercial vehicles include light-weight commercial vehicles (LCV) and heavy commercial vehicles (HCV). Size of the wheel varies in different vehicles and so does the size of the wheel rim. Wheels used in commercial vehicles are designed such that they can bear the particular load capacity. Therefore, wheel rims have a variety of applications.
In terms of sales channel, the wheel rim market for automotive can be divided into original equipment manufacturer (OEM) and one more segment. A large number of global players is involved in the production of automotive wheel rims.
Based on region, the wheel rim market for automotive can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a major share of the global wheel rim market for automotive, owing to a high adoption rate of automotive wheel rims and a booming automotive sector in the region leading to an increased production of vehicles with wheel rims for automotive, especially in China and India.
Some of the key players in the global wheel rim market for automotive are TSW alloy Wheels, Euromax Wheel, Maxion Wheels, Voxx Wheel, MHT Luxury Wheels, Sota Offroad, Status Wheels (TUFF A.T), Fuel Offroad Wheels, and Wheel Pros LLC.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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