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Automotive Alloy Wheels Market Outlook 2023-2032: Trends, Growth, Industry Trends And Analysis | Alcoa Wheels, Arconic Corporation, BBS GmbH, Borbet GmbH, Enkei Corporation
Automotive Alloy Wheels Market
Automotive Alloy Wheels Market Size, Growth Rate, And Forecast
The global automotive alloy wheels market size is expected to grow from $17.24 billion in 2022 to $18.87 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global automotive alloy wheels market size is expected to grow to $26.61 billion in 2027 at a CAGR of 9.0%.
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Automotive Alloy Wheels Market Drivers
The growing automotive industry is expected to propel the growth of the automotive alloy wheels market going forward. The automotive industry refers to the development, production, marketing, and design of motor vehicles. Automotive alloy wheels are lighter in weight which helps the vehicle to reduce the overall weight and enables longer tire life and consumes less fuel, as a result, the growing automotive industry increases the demand for the automotive alloy wheels market.
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Automotive Alloy Wheels Market Segments
• By Finishing Type: Powder Coated Or Painted Lacquered, Diamond Cut, Spilt Wheel, Chrome Wheel, Anodized, Other Finishing Types.
• By Material Type: Aluminum Alloy, Titanium Alloy, Magnesium Alloy.
• By Wheel Size Type: Compact-Size, Mid-Size, Full-Size.
• By Vehicle Type: Passenger Car, Commercial Vehicle.
• By Sales Channel: Original Equipment Manufacturer(OEM), Aftermarket.
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Automotive Alloy Wheels market.
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Automotive Alloy Wheels Market Key Players
Major competitors in the automotive alloy wheels market include Alcoa Wheels, Arconic Corporation, BBS GmbH, Borbet GmbH, Enkei Corporation, Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Fuel Off-Road Wheels, MAXION Wheels.
The Business Research Company's "Global Automotive Alloy Wheels Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Alloy Wheels Market Include:
1. Executive Summary
2. Automotive Alloy Wheels Market Characteristics
3. Automotive Alloy Wheels Market Trends And Strategies
4. Automotive Alloy Wheels Market - Macro Economic Scenario
5. Automotive Alloy Wheels Market Size And Growth
……
26. Africa Automotive Alloy Wheels Market
27. Automotive Alloy Wheels Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Alloy Wheels Market
29. Automotive Alloy Wheels Market Future Outlook and Potential Analysis
30. Appendix
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