Press release
High Performance Wheels Market Huge Growth Between 2018-2024 | 2018 Key Players are Carbon Revolution, Ronal AG, ALCAR, OZ, Steel Strips, Nutek Forged, Mandrus, Euromax, Accuride, Alcoa, SuperAlloy Industrial, United Group, Konig, Fikse, RAYS, Enkei
High Performance Wheels Market
High Performance Wheels Market for Aluminum segment will observe growth around 6%. Huge load carrying capacity, optimum dimension, corrosion resistance, low density along with ductility and malleability properties are the factors fueling the product demand. Increasing adoption by both aftermarket and OEMs due to its significant performance parameters are the fueling factors of business growth.
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Magnesium accounted for more than 30% of the 2015 overall industry share. Exceptional lightweight property enhances the steering precision, improves braking system and reduces carbon emissions & vibrations. Steel high performance wheels market size will witness gains over 4.5% by 2024. Cost-efficiency, strength, durability coupled with excellent mechanical properties will fuel the demand in this segment.
Growth in automotive industry along with increase in luxury vehicle sales are the key drivers of the high performance wheels market. Heavy research & development on rim design for improved aerodynamics coupled with emergence of advanced materials will encourage the product demand.
High Performance Wheels Market, By Material
• Aluminum
• Steel
• Magnesium
• Carbon fibre
High Performance Wheels Market, By Vehicle
• Premium compact segment
• Entry-level luxury segment
• Mid-size luxury segment
• Others
Top Key Players:-
The key players of global High Performance Wheels Market are Iochpe-Maxion, Vossen Wheels, Work Wheels USA, Wheel Pros, Automotive Wheels Ltd., Enkei Wheels, CiTiC Dicastal Wheel Manufacturing Co., Ltd., Ronal AG, HRE Performance Wheels, RAYS Co. Ltd., Fikse Wheels, Konig Wheels, United Wheels Group, SuperAlloy Industrial Company Ltd., Weds Co. Ltd., Performance Wheels Australia, BBS Kraftfahrzeugtechnik AG, Alcoa Wheels, Accuride Corporation, Topy Industries Limited, Euromax Wheels, Mandrus Wheel Company, Nutek Forged Wheels, Steel Strips Wheels Limited., ALCAR Holding, American Eagle Wheels Corporation, OZ S.p.A.
Regional Segmentations:-
The U.S. high performance wheels market is estimated to worth over USD 60 billion by 2024. Increased sports car production and facility expansion will enhance the product penetration in this region. Increasing disposable income along with presence of large number of car manufacturers including Shelby, SRT, Ford, Chevrolet, Dodge, Buick, Acura and Cadillac will further drive the industry growth.
Asia Pacific high performance wheels market will witness gains over 7% up to 2024. Rising research & development accompanied by demand for sports cars is projected to drive the industry growth. Favorable government policies including 100% FDI will further support the industry demand.
European high performance wheels market is estimated to value around USD 60 billion up to 2024. Rise in premium vehicle usage coupled with government promotions to enhance lightweight vehicles is the key factors enhancing the product penetration in this region.
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Major Points of Table Of Content:-
3. High Performance Wheels Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 -2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distribution channel analysis
3.3.3. Profit margin analysis
3.4. Raw material landscape
3.4.1. Aluminum
3.4.2. Steel
3.4.3. Magnesium
3.4.4. Carbon fiber
3.5. Global automotive wheels market overview
3.5.1. Current automotive wheels trend
3.5.2. Current consumer preferences
3.6. Pricing trends
3.6.1. Cost structure analysis
3.7. 3.6 Technology & innovation
3.7.1. Casting Technology
3.7.1.1. Low pressure die casting (LPDC)
3.7.1.2. High pressure die casting (HPDC)
3.7.1.3. Gravity casting
3.7.2. Flow forming technology
3.7.3. Forging technology
3.7.4. High light technology (HLT)
3.8. Automotive industry landscape, by region
3.9. Regulatory landscape
3.9.1. North America
3.9.2. U.S.
3.9.3. EU
3.9.4. China
3.9.5. Japan
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Recovering automotive sector
3.10.1.2. Driving comfort along with superior braking and acceleration
3.10.1.3. Weight reduction trends in vehicles
3.10.2. Industry pitfalls & challenges
3.10.2.1. High initial set up cost
3.11. Growth potential analysis
3.12. Porter’s analysis
3.13. Competitive landscape, 2016
3.13.1. Strategy dashboard
3.13.2. Market by brand
3.14. PESTEL analysis
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Potential outlook in premium compact, entry-level and mid-size luxury vehicles will escalate the high performance wheels market growth. Increasing consumer preference for vehicle customization, weight reduction and improved fuel efficiency will support the industry growth.
High performance wheels market volume from premium compact segment dominated the overall industry catering for over 50% in 2015. This is due to lightweight, fuel efficient and less expensive vehicles than entry-level luxury segment. Increasing consumer spending along with inclination towards enhanced visual appearance will trigger the demand.
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