High Performance Wheels Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global high performance wheels market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028). High performance wheels are defined as those that have unique tread patterns, construction, and rubber compounds to enhance the all-around driving experience. These wheels can improve the car's racetrack-inspired features such as cornering abilities and reduced stopping distances. The market growth is majorly attributable to the key advantages offered by these wheels over the conventional ones. For instance, these wheels show a very less probability of galvanic corrosion, they are compact, lightweight, and provide better braking ability to the driver as compared to other wheels. Further, high performance wheels can lessen the un-sprung weight, resulting in lowering the uncomfortable vibrations of vehicles. All these advantages offered by high performance wheels are likely to augment their demand during the forecast period, thereby driving their market growth.

The market growth is also attributed to the introduction of new technologies that aim to lighten the weight of the overall vehicle. This is further due to the growing concerns of automobile sector to lower the vehicle emissions. The Original Equipment Manufacturers (OEMs) are working to produce technologically innovative and lightweight car components that will meet the new emission criteria. This, as a result, has augmented the demand for sustainable alternative such as high performance wheels, thereby propelling the growth of global high performance wheels market.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Material
•By Vehicle Type
•By Sales Channel
•Regions covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape: Alcoa Wheels, Iochpe-Maxion, and OZ S.p.A., among others.

A full report High Performance Wheels Market of is available at:  https://orionmarketreports.com/high-performance-wheels-market/20734/

Global High Performance Wheels Market Report by Segment
By Material
•Aluminum
•Steel
•Magnesium
•Carbon Fiber
•Others
By Vehicle Type
•Premium Compact
•Entry Level Luxury
•Mid-Size Luxury
•Others
By Sales Channel
•OEM
•Aftermarket

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.