Press release
Magnesium Wheel Market Analysis Focusing on Top Key Players – SMW Engineering Ltd., PVM Brakes Manheim, Enkei Corporation, BBS, O.Z. and APP Tech. Mergers
Magnesium Wheel Market, Magnesium Wheel Market trend, Magnesium Wheel Market analysis, Magnesium Wheel Industry, Magnesium Wheel I
North America magnesium wheel market accounted for more than 20% of total industry share in 2016. Expansion in automotive industry in the region due to favorable geographical location, business environment, high investment on research & development and availability of advanced technology will propel the regional demand.
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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 size is estimated to exceed USD 27 billion by 2024; according to a new research report.
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.
Improved functionality, optimum precision and stronger grip on road are the key factors driving product demand. High availability of forged wheel in several designs is further expected to enhance industry growth.
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. Growing popularity of sport events including Grand Prix and Formula One has resulted in increased product demand as numerous companies are involved in sponsorships in the events.
Asia Pacific magnesium wheel market will observe gains exceeding 3.5% up to 2024. Efficient economic recovery coupled with technological advancement in automotive industry has enhanced the product demand. Growth in number of automotive manufacturing facilities particularly in China and India will drive the product scope.
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Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Magnesium Wheel Industry Insights
Chapter 4. Magnesium Wheel Market, By Manufacturing
Chapter 5. Magnesium Wheel Market, By End-Use
Chapter 6. Magnesium Wheel Market, By Vehicle
Chapter 7. Magnesium Wheel Market, By Region
Chapter 8. Company Profiles
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