High Performance Wheels Market Top Companies are Iochpe Maxion, Enkei America, RONAL GROUP, Alcoa, Accuride Corporation, Wheel Pros

High Performance Wheels Market size is estimated to surpass USD 160 billion by 2024; according to a new research report by Global Market Insights, Inc. Aluminum high performance wheels market 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.

U.S. high performance wheels market will witness growth exceeding 5% by 2024. Regulatory compliance, technological advancements accompanied by increasing manufacturing facilities are the supporting factors of the market demand in this region.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Iochpe-Maxion
2. Vossen Wheels
3. Work Wheels USA.
4. Wheel Pros
5. Automotive Wheels Ltd.
6. Enkei Wheels
7. CiTiC Dicastal Wheel Manufacturing Co., Ltd.
8. Ronal AG
9. HRE Performance Wheels
10. RAYS Co. Ltd.
11. Fikse Wheels
12. Konig Wheels
13. United Wheels Group
14. SuperAlloy Industrial Company Ltd.
15. Performance Wheels Australia
16. BBS Kraftfahrzeugtechnik AG
17. Alcoa Wheels
18. Accuride Corporation.

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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.

OEMs dominate the end-use segment accounting for over 80% of the overall high performance wheels market share. Rising global automotive demand accompanied by rising manufacturing facilities will fuel the demand.

Entry-level segment high performance wheels market was valued over USD 25 billion in 2015. Independent suspension, improved transmission and maximized interior space are some of the properties enhancing product penetration.

In Europe, increasing consumer awareness pertaining to safety, comfort and carbon emissions will certainly influence the regional demand. Presence of leading OEMs particularly in Germany, France, Poland and Italy will enhance the product development in this region.

In terms of units, Asia Pacific high performance wheels market will witness fastest growth during the forecast timeframe. Rapid automotive industry expansion due to cheap labor and extensive raw material accessibility will enhance the regional demand. Japan will witness significant gains, owing to the presence of leading manufacturers.

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Global high performance wheels industry share is fragmented due to wide presence of local manufacturers particularly in China. United Group, Fikse, ALCAR Group, OZ S.p.A, BBS Kraftfahrzeugtechnik AG, Euromax, Carbon Revolution, Steel Strips and Topy Industries are the key industry players.

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