High Performance Wheels Market: What are the Future Growth Opportunities? Top Players: Iochpe Maxion S/A, Wheel Pros, CITIC Dicastal, RONAL GROUP, Accuride Corporation, Carbon Revolution

Global high performance wheels market forecast will be majorly driven by robust demand for premium vehicles around the world. Aesthetics and performance are the two most crucial factors defining automotive wheels. Manufacturers are introducing newer, more efficient range of products with superior designs, innovative new looks and best-in-class quality.

For instance, Wheel Pros LLC had launched the upgraded version of the KMC Wheels Rockstar, called the Rockstar III which enables customers to customize their wheels based on their needs and preferences using off-shelf accessories.

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As for regional landscape, developing countries such as Turkey and other GCC nations have shown a significant rise in demand for luxury, sport, and premium compact vehicles. This growth can be contributed to changing consumer trends in style and preference, and increasing disposable income. This has further influenced buyers to install high-performance rims to their premium vehicles. Availability of cheap natural gas and easy finance options may also play a crucial role in proliferating regional industry growth. Meanwhile, abundant accessibility to raw materials like magnesium and aluminum may foster the high performance wheels market outlook across the aforementioned regions.

In the U.S., initiatives to develop passenger and commercial vehicles may boost high performance wheels market size. Citing an instance, in 2016, U.S. Energy Department revealed that it has allotted USD 137 million for investing in passenger and commercial automobiles. Such initiatives would likely generate new opportunities for product development.

Meanwhile, in Middle East & Africa, there is facing degrowth in economy. However, supportive federal programs to support the private sector may alleviate economy stance. It is also suggested that MEA may become a vital market for high-performance wheels.

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Implementation of more light-weight wheels in turn increases transport costs which becomes a critical factor to be considered especially while transporting over long distances. The overall investment cost in production of high performance wheels is not high but still quite significant. Increased focus to achieve weight reduction and enhancing the aesthetic appeal of vehicles will positively impact high performance wheels market size.

Currently, the high performance wheels market consist of key players namely Iochpe-Maxion, OZ S.p.A, Konig Wheels, Carbon Revolution, HRE Performance Wheels, Alcoa Wheels, Konig Wheels, Euromax Wheels, BBS ALCAR Holding among others. Manufacturers have recognized the importance of aesthetics and performance in their product offerings. They are also seemingly striving to enhance their portfolio by opting for new designs and looks. Taking November 2016 for instance, KMC Wheels and Wheel Pros LLC release Rockstar III which enables drivers to modify their wheels with off shelf accessories. Thus, with new product launches and increasing production capacity, high-performance wheels market is anticipated to secure commendable growth in the forthcoming years.

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