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Automotive Wheel Market Revenue, Growth & Regional Analysis 2018-2024 By Key Players Maxion Wheels, Trelleborg Group, Enkei America, Wheel Pros, Steel Strips Wheels

12-06-2018 11:33 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Automotive Industry

Automotive Wheel Market

Automotive Wheel Market

Europe automotive wheel market will witness growth over 4% up to 2024. Rising demand for premium vehicles coupled with recovery from economic recession are the key factors supporting the industry growth. Presence of key industry players provides a positive outlook for the regional demand. Passenger cars market will worth over USD 77 billion by 2024. Changing lifestyles and increasing disposable income are the major driving factors of industry size. Heavy R&D along with emergence of cost efficient passenger cars have further encouraged the product demand.

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Industry Growth drivers:

1 Recovering automotive sector
2 Driving comfort along with superior braking and acceleration
3 Weight reduction trends in vehicles

Asia Pacific automotive wheel market is anticipated to value over USD 53 billion by 2024. Increasing vehicle production particularly in China and India remains the key driving factor for industry growth. Increasing manufacturing facilities, owing to favorable socio-economic conditions will drive the regional demand.

Expansion in global transportation industry accompanied by rise in frequency of public travelling are among the major factors fueling the industry demand. High production costs due to comprehensive manufacturing process may affect the price trend. Availability of substitute alloy materials along with high product prices may restrain the industry growth.

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

1. CiTiC Dicastal Wheel Manufacturing Co., Ltd.
2. Borbet
3. Wheel Pros.
4. Automotive Wheels Ltd.
5. Work Wheels USA.
6. Mandrus Wheel Company
7. Steel Strips Wheels Limited
8. American Eagle Wheels Corporation
9. Euromax Wheels
10. Topy Industries Limited
11. SuperAlloy Industrial Company Ltd.
12. Enkei Wheels
13. Vossen Wheels
14. Titan Europe Gmbh
15. ALCAR Holding
16. Starco
17. Jantsa Wheel
18. Mefro wheels
19. Magnetto Wheels
20. Otto Fuchs
21. Trelleborg
22. Alcoa Wheels
23. United Wheels Group
24. Ronal AG
25. Maxion Wheels

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Aftermarket is set to witness gains around 5% up to 2024. Growth in auto components industry along with increasing consumer awareness regarding safety and convenience will drive the business growth. Shifting consumer preference for customized and high-performance vehicles will drive the automotive wheel market.

Aluminum material accounts for more than 54% of the overall demand in 2016. Stringent regulations pertaining to vehicle weight reduction and carbon emissions will drive the industry growth. Rising demand for driving comfort, high speed and quick acceleration are the key fueling factors of product penetration.

High performance automotive wheel market was worth over USD 11.4 billion in 2016. Rise in demand for sports, premium and luxury vehicles particularly in Europe and North America will support the industry demand. Enhanced acceleration, smooth braking and improved comfort are the driving factors for product scope in high-performance vehicles.

Browse Report Summery @ www.gminsights.com/industry-analysis/automotive-wheel-market

Ronal Group, Maxion, Alcoa, Dicastal, Steel Strips and Enkei are the major industry players. Global industry share is highly fragmented due to presence of large number of regional manufacturers. Product innovations, new product launches offering large number of product choices for customers are the major strategies adopted by industry players.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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