Press release
What's Driving the Magnesium Wheel Market Trends? Ronal Group, SMW Engineering Ltd., Tan-ei-sya Co. Ltd., Washi Beam, Marchesini, OZ S.p.A, BBS USA, Cromodora Wheels SPA, Enkei Corporation, Marvic Wheels SRL
Magnesium Wheel Market
Reportedly, material scientists and engineers have been conducting in-depth research studies to check the feasibility of magnesium for manufacturing automotive structural components. For instance, scientists at the Pacific Northwest National Laboratory (PNNL) of the Department of Energy have developed a new extrusion process to incorporate magnesium alloys into automotive components. The prevalence of research and development activities related to the advancement of magnesium material, such as the aforementioned, are certain to propel magnesium wheel market trends.
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Vehicle weight reduction is among the more principal factors responsible for lowering the fuel consumption thereby minimizing exhaust emissions. This would help augment magnesium wheel market size, as magnesium alloys fulfill the lowest weight value set by automakers and giants in aeronautical sectors. The presence of a large automotive base across several European countries will also have a positive impact on the Europe magnesium wheel industry.
Since 2009, the usage of lightweight materials such as aluminum and magnesium has increased considerably. As stringent regulatory norms related to emissions are coming into the picture, magnesium material is going to be used on large scale for several parts of automobiles. Considering the excellent material characteristics such as light weight, high strength, and lower overheating, most of the superbike manufacturers are giving preference for mag wheels, which will apparently boost magnesium wheel market size.
However, it is imperative to mention that lighter materials are more expensive, which may slightly impede magnesium wheel market in the future. The basic cost of magnesium seems to be major restraint for many of the automakers. In order to deal with this issue, most of the auto suppliers and giants in magnesium wheel industry have been adopting tactics of joint ventures and partnerships with research institutes.
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Some Point from Table of Contents:
Chapter 4 Magnesium Wheel Market, By Manufacturing
4.1 Magnesium wheel industry share by manufacturing, 2018 & 2024
4.2 Cast
4.2.1 Magnesium wheel industry estimates and forecast from cast, 2013 - 2024, (Thousand Units) (USD Million)
4.2.2 Magnesium wheel industry estimates & forecast from cast, by region, 2013-2024 (Thousand Units) (USD Million)
4.3 Forged
4.3.1 Magnesium wheel industry estimates and forecast from forged, 2013 - 2024, (Thousand Units) (USD Million)
4.3.2 Magnesium wheel industry estimates & forecast from forged, by region, 2013-2024 (Thousand Units) (USD Million)
Chapter 5 Magnesium Wheel Market, By End-Use
5.1 Magnesium wheel industry share by end-use, 2018 & 2024
5.2 OEM
5.2.1 Magnesium wheel industry estimates and forecast from OEM, 2013 - 2024, (Thousand Units) (USD Million)
5.2.2 Magnesium wheel industry estimates & forecast from OEM, by region, 2013-2024 (Thousand Units) (USD Million)
5.3 Aftermarket
5.3.1 Magnesium wheel industry estimates and forecast from aftermarket, 2013 - 2024, (Thousand Units) (USD Million)
5.3.2 Magnesium wheel industry estimates & forecast from aftermarket, by region, 2013-2024 (Thousand Units) (USD Million)
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/magnesium-wheel-market
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