Press release
Automotive Alloy Wheel Market Is Booming Worldwide | Euromax Wheel, MHT Luxury Wheels, Uniwheels
Automotive Alloy Wheel Market
Major Players in This Report Include: Euromax Wheel, MHT Luxury Wheels, Status Wheels Inc, Wheel Pros LLC, Fuel Off-Road Wheels, SOTA Offroad, Enkei Wheels India Ltd, Ronal AG, Uniwheels, BBS Kraftfahrzeugtechnik AG.
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The size of the Automotive Alloy Wheel Market was valued at USD 19.97 Billion in 2023 and is projected to reach USD 38.01 Billion by 2032, with an expected CAGR of 9.63% during the forecast period. It can be defined as the industry associated with manufacturing and distribution activities related to alloy wheels made of aluminum or magnesium alloy for higher performance and aesthetic appearance for better appeal, as compared to the conventional type of steel wheels. These wheels are lightweight, improve vehicle handling, fuel efficiency, and collectively reduce overall emissions, hence serving the cause of meeting environmental regulations. The key features include resistance to corrosion, improved heat dissipation, and customizable designs for more personalized appeal. The use of alloy wheels is seen in all three sectors of passenger cars, luxury cars, and performance sport cars. Few of the manufacturing technologies involved include low-pressure casting, forging, and flow-forming, each with its specific advantages regarding strength and weight reduction. Fuel-efficient vehicle demand and EVs are leading to great demand in the market due to the usage of lightweight components for efficient battery performance. Actually, alloy wheels are in demand among consumers on account of performance, aesthetics, and fuel economy benefits.
Market Trend:
• Increasing demand for lightweight wheels to boost the market growth
Market Drivers:
• Increasing demand for lightweight and fuel-efficient vehicles
• Rising popularity of SUVs and crossovers
Restraints:
• High cost of alloy wheels compared to steel wheels
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Recent developments in Automotive Alloy Wheel:
• September 2023: Euromax Wheel launches a new line of alloy wheels for electric vehicles.
• August 2023: MHT Luxury Wheels announces a partnership with a major automaker to supply alloy wheels for their new SUV model.
• July 2023: Status Wheels, Inc introduces a new technology that makes alloy wheels more resistant to corrosion.
In this research study, the prime factors that are impelling the growth of the Global Automotive Alloy Wheel market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.
The Automotive Alloy Wheel market study is being classified Finishing Type: Polished Alloy Wheel, Two-toned Alloy Wheel, and Others, Wheel Type: Compact-Size, Mid-Size, and Full-Size, Vehicle Type: Passenger Car and Commercial Vehicle
The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Automotive Alloy Wheel market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.
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Extracts from Table of Contents
Automotive Alloy Wheel Market Research Report
Chapter 1 Automotive Alloy Wheel Market Overview
Chapter 2 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 3 Global Market Analysis by Application
Chapter 4 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 5 Global Economic Impact on Industry
Chapter 6 Global Market Competition by Manufacturers
Chapter 7 Global Revenue (Value, Volume*) by Region
………………….continued
This report also analyses the regulatory framework of the Global Markets Automotive Alloy Wheel Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analysed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.
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About Author: Pro Market Reports is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies' revenues.
Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enable clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.
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