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Light Vehicle Wheel Market 2022 is estimated to clock a modest CAGR status during the forecast period 2022-2027 With Top Countries Data

01-19-2022 10:00 AM CET | Logistics & Transport

Press release from: Market Insights Reports

The Light Vehicle Wheel Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. The market report additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the players and companies to contribute to the Light Vehicle Wheel market growth.

The Global Light Vehicle Wheel Market Size is Projected to Reach at a CAGR of 6% during 2022-2027.

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Market Overview

The global COVID-19 pandemic economies were negatively affected worldwide, and all the industries felt the impact, but the automotive industry was particularly negatively impacted. Challenges that emerged from the worldwide lockdown are immense and impossible in many areas. The automotive industry has faced many supply chain disruptions owing to lockdowns. As the situation is coming back to normalcy, it is expected that the market will recover and grow positively during the forecast period. The major driver of the automotive wheels market is the sales of passenger cars. Due to COVID-19, the automotive wheel market has seen a decline in sales. It is expected to get back on the growth track in the post-pandemic period.

Top Leading Companies:

CITIC Dicastal, Borbet, Ronal Wheels, Superior Industries, Enkei Wheels, Lizhong Group, Alcoa, Wanfeng Auto, Iochpe-Maxion, Zhejiang Jinfei Holding Group, Topy Group, Zhongnan Aluminum Wheels, Accuride, Steel Strips Wheels

Recent Developments
In June 2021, Maxion İnci Wheel Group, a subsidiary of İnci Holding and Maxion Wheels, invested TRY 250 million in a new plant to increase its heavy and commercial vehicle wheel production capacity.
In January 2021, Citic Dicastal, specializing in aluminum casting and the production of aluminum automotive parts, set up the second production plant for aluminum rims with a budget of EUR 350 million in Kenitra, Morocco.
In March 2020, EDAG Group, with eight partners, announced that they developed an aluminum alloy for use in the car, which can provide both higher strengths and higher elongations at the break as part of the BMBF-backed "CustoMat_3D" research project.
In February 2020, Rio Tinto developed a new alloy for high strength car wheels, Revolution-Al™, a new high strength aluminum alloy developed to make lighter-weight car wheels. The wheel's increased strength enables a 7% weight reduction that can help achieve better fuel efficiency or battery range in the vehicle.

Light Vehicle Wheel Market Segmentation by Type:

Casting
Forging
Other

Light Vehicle Wheel Market Segmentation by Application:

Passenger Vehicle
Commercial Vehicle

Explore Full Report with Detailed TOC Here:

https://www.marketintelligencedata.com/reports/1316853/global-light-vehicle-wheel-market-growth-2022-2028?Mode=Rukaiyya

We will get in touch with you within 24hrs and help you find the research reports and Additional Customization you need.

Asia Pacific Remains the Market Leader

Asia-Pacific is expected to dominate the automotive wheels market during the forecast period. This growth is mainly attributed to China and India. With almost 60% of vehicles of the world in the region, during the forecast period, the demand for automobiles in the region will be the highest globally, owing to the highest population percentage in the world, with two densely populated nations China and India. The income level of the people in this region is also growing at a very rapid pace. The region accounts for a large share of mid-income level people and is concerned with the fuel economy of vehicles. With the reduction in the overall weight of the vehicle, the fuel economy is expected to grow. With the demand for automobiles, the wheels market is also expected to boost during the forecast period.

Regional Light Vehicle Wheel Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

Buy Full Report Here:

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Highlights of the Light Vehicle Wheel Market Report:

Detailed overview of Light Vehicle Wheel Market
Changing the Light Vehicle Wheel market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Light Vehicle Wheel market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Light Vehicle Wheel Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2022 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Light Vehicle Wheel Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Light Vehicle Wheel industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

We Offer Customization on Report Based on Specific Client Requirement:

– Country Level analysis for any 5 countries of your choice.

– Competitive analysis of any 5 key market players.

– 40 analyst hours to cover any other data point.

ABOUT US:

Market intelligence data is a global front-runner in the research industry, offering customers contextual and data-driven research services. Customers are supported in creating business plans and attaining long-term success in their respective marketplaces by the organization. The industry provides consulting services, Market Intelligence Data research studies, and customized research reports.

Contact Us:

Irfan Tamboli (Head of Sales) – MARKET INTELLIGENCE DATA

Phone: +1 (704) 266-3234

Mail to: sales@marketintelligencedata.com

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