Press release
Automotive Alloy Wheels Market 2023 : Opportunities, Industry Share, Size, Trends And Forecast 2032 | Alcoa Wheels, Arconic Corporation, BBS GmbH, Borbet GmbH, Enkei Corporation
Automotive Alloy Wheels Market Share
The Business Research Company's Automotive Alloy Wheels Global Market Report 2023 identifies growing automotive industry as the major driver for the Automotive Alloy Wheels market's growth in the forecast period. 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.
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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Major competitors in the Automotive Alloy Wheels market are Alcoa Wheels, Arconic Corporation, BBS GmbH, Borbet GmbH, Enkei Corporation, Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Fuel Off-Road Wheels, MAXION Wheels, Ronal Group, Superior Industries International, Inc., Topy Industries Limited, TSW Alloy Wheels, Washi Beam, and Wheel Pros LLC.
A key trend in the Automotive Alloy Wheels market includes Innovative Product innovations. Major companies operating in automotive alloy wheels are introducing innovative products to sustain their position in the market. For instance, in November 2022, Ronal Group, a Switzerland-based company operating in automotive alloy wheels unveiled a new R70-blue aluminum wheel, a carbon-neutral recycled aluminum wheel.
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The Automotive Alloy Wheels market is segmented -
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.
The Business Research Company's "Global Automotive Alloy Wheels Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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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