openPR Logo
Press release

Automotive Metal Wheel Market is estimated to translate to a revenue of US$ 92 Billion by 2022 - States Fact.MR

04-28-2021 01:35 PM CET | Tourism, Cars, Traffic

Press release from: Fact.MR

Demand for light weight wheels driving the adoption of aluminum metal wheels.

A comprehensive study by Fact.MR on the global market for automotive metal wheels offers critical insights on the aforesaid market, assessed for a period of five years, 2017-2022.

To get in-depth information view the report - https://www.factmr.com/report/152/automotive-metal-wheel-market

Fact.MR forecasts that the global automotive metal wheel market would record a sluggish CAGR through 2022, lying in the high value-low growth quadrant during the said timeline.

The global automotive metal wheel market is anticipated to stand at a valuation of approximately US$ 92 Billion by the end of the forecast period.

Fact.MR opines that increasing demand for light weight wheels for better fuel economy and vehicular performance is a major factor restraining the widespread adoption of automotive metal wheel, globally.

Moreover, since metal wheels are more exposed to rust and corrosion, automotive wheel manufacturers prefer using alloy.

Conversely, wheels made of steel will continue to witness increased demand in regions with ice and snow, considering increased unsprung weight provided to the vehicles for efficient performance in difficult terrains with high probability of skidding.

Moreover, steel wheels offer a more affordable winter alternative to alloy wheels. As per the market analysis, steel among other materials including aluminum alloy, magnesium, and composites is projected to hold nearly 35% of the total market share, representing a valuation of approximately US$ 34.3 Billion in the global market of automotive metal wheel by 2022 end.

To Know the COVID-19 Impact on Europe Region, Request for Sample - https://www.factmr.com/connectus/sample?flag=S&rep_id=152

The report also indicates that the ongoing material innovations and demand for overall lighter vehicles, may forestall the market decline over the next few years and present growth opportunities to aluminum alloy wheel manufacturers.

Key players like Maxion Wheels and CITIC Dicastal are acknowledging this transformational shift by setting up aluminum wheel factories in India and Morocco, respectively.

Fact.MR predicts that growing demand for car styling will contribute significantly to the adoption of aluminum alloy wheels in the coming years.

Moreover, manufactures are also experimenting with carbon fiber-presently found in ultra-luxury cars. As per the report, aluminum alloy wheel segment is expected to hold nearly 27.6% of the total revenue share.

An extensive analysis of the global automotive metal wheel market on the basis of vehicle type reveals that the compact passenger cars segment will hold the maximum revenue share owing to the increase in sales of compact passenger cars and growing demand for vehicle customizations.

Additionally, aftermarket sales of metal wheels, specifically aluminum alloy wheels, is projected to record a comparatively high revenue throughout 2022, compared to OEM owing to cost-effective and diverse fitments and installations in the former.

Share Your Requirements & Get Customized Reports - https://www.factmr.com/connectus/sample?flag=RC&rep_id=152

Aftermarket is poised to create a US$ 66.2 Billion opportunity for the manufacturers of automotive metal wheels, owing to growing inclination towards exclusivity and customization.

Research also predicts that carbon-fiber will remain the most sought-after material in the aftermarket owing to its strength and weight characteristics.

The report on global automotive metal wheel market provides an extensive description of top 10 key players along with a detailed analysis of their product offerings and key financials.

Key players such as Iochpe-Maxion, CITIC Dicastal, Borbet, Superior Industries, Topy, Accuride, and Lizhong Group are profiled in the Fact.MR’s report on global automotive metal wheel market.

Growing production of electric and autonomous vehicles is likely to change the traditional relations between OEMs and suppliers resulting in strategic partnerships and collaborations, predicts Fact.MR.

Additionally, product innovations, specifically in terms of designs, will be greatly considered by manufacturers looking to make a mark in the otherwise crowded automotive metal wheel market.

Manufacturers will continue to focus on lessening rolling resistance through a variety of approaches.

Buy Now for Exclusive Analyst Support - https://www.factmr.com/checkout/152/S

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

Visit Our Website - https://www.factmr.com/

Content Source - https://www.factmr.com/media-release/664/global-automotive-metal-wheel-market

About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive Metal Wheel Market is estimated to translate to a revenue of US$ 92 Billion by 2022 - States Fact.MR here

News-ID: 2276754 • Views: 114

More Releases from Fact.MR

Activewear Market is set to record exponential growth by 2029: Fact.MR
Activewear is an apparel which boosts the performance of athletes during the sports and fitness physical activities by improving the body movements when compared to the regular clothes. Also, the activewear also helps to avoid muscle sprains and other ligament and muscle injuries. The appropriate fitting and proper support provided by these apparels, leads to the rapid growth of the global activewear market. Moreover, the active apparels support unique advantages
Glaucoma Diagnostics Market Globally Expected to Drive Growth through 2019 -2029
Glaucoma is one of the major eye disorder which affects the optic nerve carrying information from eye to brain. According to report from WHO Glaucoma is the second leading cause for total blindness. Traditionally topical medications and laser surgery especially trabeculotomy are principal methods to treatment glaucoma. The high risk due to complications and high cost associated with the treatment procedures have created the grounds for new safe and effective
The Global Demand of Aromatherapy Diffuser Market, Growth Analysis, Latest Trend …
Support from the science community in propounding the benefits of aromatherapy on mental health has had a positive impact on aromatherapy diffuser market. Click Here To get a Sample Report (Including Full TOC, Table & Figures) https://www.factmr.com/connectus/sample?flag=S&rep_id=4639 The resultant prevalence of aromatherapy among millennial consumers drive demand for aromatherapy diffusers during the forecast period (2019-2029). Consumer trends such as meditation, and spa & salon services will heighten demand growth for aromatherapy diffusers.
Global Market for 3D Wheel Aligners to Witness Growing Adoption for Off-Road Veh …
Bad weather conditions and growing disregard for road maintenance is worsening the state of roads in several parts of the world, and wheel alignment systems are witnessing a sharp increase in demand. 3D wheel aligners, a key advancement in wheel alignment systems, are being sought to attain accurate assessment of nonalignment by capturing the condition of wheels and the axle three-dimensionally. Gain complete access to the report - https://www.factmr.com/report/529/3d-wheel-aligners-market The Fact.MR forecast

All 5 Releases


More Releases for Billion

Technical Textiles Market Worth $193.16 Billion
The global technical textiles market is expected to reach USD 193.16 billion by 2022, according to a new report by Grand View Research, Inc. Growth of key end-use industries such as agriculture, construction, packaging and automotive in BRIC nations is expected to remain a key driving factor for global technical textiles market. Being one of the most innovative branches of industry across the world is expected to create new avenues
Vaccines Market Worth $57.5 Billion By 2025
Meticulous Research®– leading global market research company published a research report titled “Vaccines Market by Indication (Pneumococcal, Influenza, DTP, HPV, Hepatitis, Meningococcal, Rotavirus, Polio, MMR), Type (Live, Toxoid), Route of Administration (IM, SC, Oral), Valence (Monovalent, Multivalent) and Geography–Global Forecast to 2025″. According to this latest publication from Meticulous Research®, the global vaccines market is expected to reach $57,501.8 million by 2025 at a CAGR of 7.9%. The growth of
Cryptocurrency Market worth $1.40 billion by 2024
According to the market research report on "Cryptocurrency Market by Offering (Hardware: GPU, FPGA, ASIC, & Wallet, and Software), Process (Mining and Transaction), Type, Application (Trading, Remittance, Payment: Peer-to-Peer Payment, Ecommerce, and Retail), and Geography - Global Forecast to 2024", The cryptocurrency market is projected to reach USD 1.40 billion by 2024, at a CAGR of 6.18% during the forecast period. Major drivers for market growth are the transparency of
Orthodontics Market Worth $6.04 Billion By 2023
Meticulous Research® – leading global market research company published a research report titled “Orthodontics Market by Product (Removable, Fixed Braces (Brackets (Metal, Ceramics), Archwire (Beta Titanium, Stainless Steel), Anchorage Appliances, Ligature, Retainers), by Patient (Children and Teen, Adult) and Geography-Global Forecast to 2023″. According to this latest publication from Meticulous Research®, the global orthodontics market is expected to grow at a CAGR of 11.7% from 2018 to reach $6.04 billion
Genotyping Market worth $17.0 Billion by 2020
The “Genotyping Market by Technology (Polymerase Chain Reaction, Sequencing, Microarray, Electrophoresis, MALDI_TOF), Application (Pharmacogenomics, Diagnostic Research, Animal Genetics, Agricultural Biotechnology), Products - Global Forecast to 2020” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World. Full report : http://www.marketsandmarkets.com/Market-Reports/genotyping-market-249958595.html Browse 113 market data tables and 37 figures spread through 200 pages and in-depth TOC on “Genotyping Market by Technology (Polymerase Chain
Orthobiologics Market USD 5.8 Billion by 2020
Orthobiologics Market 2013-2020 report estimates the global orthobiologics market to reach nearly USD 5.8 Billion in 2020, at a CAGR of 6.2% from 2016 to 2020 - iHealthcareAnalyst, Inc. Visit the Orthobiologics Market 2013-2020 report https://www.ihealthcareanalyst.com/report/orthobiologics-market/ The global orthobiologics market report provides market size (Revenue USD Million 2013 to 2020), market share and forecasts growth trends (CAGR%, 2016 to 2020). The global orthobiologics market segmentation is based on product types (allograft, bone