Press release
Automotive Alloy Wheels Market is Anticipated to Expand upto $31.07 Billion in 2029
Automotive Alloy Wheels
What Is the Forecasted Market Growth Rate of the Automotive Alloy Wheels Industry?
In recent times, there has been substantial growth in the market size of automotive alloy wheels. It is projected to expand from $20.26 billion in 2024 to $21.77 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. The previous period's growth was spurred by factors such as the rising demand for lightweight materials, enhancing aesthetic appeal and customization, fortifying performance and durability, escalating vehicle production, and increasing disposable income.
How Will the Automotive Alloy Wheels Market Size Evolve From 2025 to 2029?
The dimension of the automotive alloy wheels market is anticipated to witness significant increase in the foroming years. It is predicted to expand to a market value of $31.07 billion by 2029, with a compound annual growth rate (CAGR) of 9.3%. Factors such as strict fuel efficiency norms, rise in electric vehicle (EV) popularity, a concentrated emphasis on sustainable materials, design and finish innovations, as well as global urbanization trends are driving this growth in the projected period. Other trends to watch during the prediction period include material innovation, customized design, effects of electric vehicles (EVs), intelligent and connected features, and a focus on sustainability.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/automotive-alloy-wheels-global-market-report
What Are the Main Growth Drivers in the Automotive Alloy Wheels Market Today?
The expansion of the automotive industry is predicted to drive the growth of the automotive alloy wheels market. This involves the creation, manufacturing, promotion, and design of motor vehicles. The use of automotive alloy wheels, which are lighter in weight, allows the vehicle to decrease its total weight, prolongs the lifespan of tyres, and leads to less fuel consumption. As a result, the growth of the automotive industry is leading to increased demand in the automotive alloy wheels market. For example, Zippia, a career expert from the US, reported in October 2022 that the US car industry experienced an increase from $82.6 billion in 2021 to $100.9 billion in 2022, reflecting a 22% increase. Consequently, the automotive industry's growth is fueling the demand for the automotive alloy wheels market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9417&type=smp
Which Automotive Alloy Wheels Market Segment Is Expected to Lead Through 2029?
The automotive alloy wheels market covered in this report is segmented -
1) By Finishing Type: Powder Coated Or Painted Lacquered, Diamond Cut, Spilt Wheel, Chrome Wheel, Anodized, Other Finishing Types
2) By Material Type: Aluminum Alloy, Titanium Alloy, Magnesium Alloy
3) By Wheel Size Type: Compact-Size, Mid-Size, Full-Size
4) By Vehicle Type: Passenger Car, Commercial Vehicle
5) By Sales Channel: Original Equipment Manufacturer(OEM), After market
Subsegments:
1) By Powder Coated Or Painted Lacquered: Gloss Finish, Matte Finish, Textured Finish
2) By Diamond Cut: Single Tone, Two-Tone
3) By Split Wheel: Multi-Spoke, Dual Tone
4) By Chrome Wheel: Polished Chrome, Matte Chrome
5) By Anodized: Clear Anodized, Colored Anodized
6. By Other Finishing Types: Hydro Dipped, Wrapped (Vinyl), Customized Finishes
Which Market Trends Are Expected to Dominate Automotive Alloy Wheels Industry Growth?
One of the significant trends emerging in the automotive alloy wheels market is product innovations. To maintain their market standing, leading companies in automotive alloy wheels are rolling out novel products. For instance, in November 2022, the Ronal Group, a company based in Switzerland and part of the automotive alloy wheels sector, launched a new product, the R70-blue aluminum wheel, which is a carbon-neutral, recycled aluminum wheel. This forward-thinking creation aims to bring about innovation in the automotive industry while providing eco-friendly wheels that help to diminish greenhouse gas emissions.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=9417&type=smp
Which Companies Hold the Largest Market Share in the Automotive Alloy Wheels Sector?
Major companies operating in the automotive alloy wheels market include Alcoa Corporation, Arconic Corporation, BBS Kraftfahrzeugtechnik AG, Borbet GmbH, Enkei Corporation, Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., MHT Luxury Alloys, Maxion Wheels Inc., Ronal AG, Superior Industries International Inc., Topy Industries Limited, TSW Alloy Wheels, Washi Beam Co. Ltd., Wheel Pros LLC, Kosei Aluminum Co. Ltd., OZ S.p.A., HRE Performance Wheels, American Racing LLC, YHI International Limited, Advanti Racing USA, Vossen Wheels Inc., Rotiform Wheels LLC, Forgeline Motorsports Inc., Weld Racing LLC, Project Fifteen52 LLC, Fastco Canada Limited, VCT Wheels, Status Alloy Wheels Inc., SOTA Offroad Inc., Asanti Inc., Lexani Corporation, KMC Wheels Inc., Moto Metal Wheels
Where Is the Automotive Alloy Wheels Market Experiencing the Highest Growth?
North America was the largest region in the automotive alloy wheels market in 2024. The regions covered in the automotive alloy wheels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
#Reach Out to Us#
Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Alloy Wheels Market is Anticipated to Expand upto $31.07 Billion in 2029 here
News-ID: 4173210 • Views: …
More Releases from The Business Research Company
Global Electric Utility Vehicle Market Expansion at 7.6% CAGR, Valued at $21.31 …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
What Are the Electric Utility Vehicle Market Size Forecast for 2025?
The market size for electric utility vehicles has witnessed considerable growth in the past few years. The sector is expected to expand from a value of $14.92 billion in 2024 to $15.91 billion in 2025, reflecting a compound annual…
Cargo Bicycles Market Expansion Outlook: $11.5 Billion in 2029
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Projected CAGR for the Cargo Bicycles Market from 2024 to 2025?
Over the past few years, the market size for cargo bicycles has experienced remarkable expansion. The market is projected to rise from $3.78 billion in 2024 to $4.61 billion in 2025, with a compound annual growth rate (CAGR)…
Automotive Tire OEM Industry Growth Outlook: 7.9% CAGR and $33.14 Billion by 202 …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Automotive Tire OEM Market Size 2025?
There has been a robust expansion in the size of the automotive tire oem market recently. The market, which is expected to escalate from $23.04 billion in 2024 to $24.49 billion in 2025, will see a compound annual…
Hypercar Industry Set to Achieve $82.16 Billion Milestone by 2029 | Steady 25.4% …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Hypercar Market Size 2025?
The size of the hypercar market has rapidly expanded over the past few years. It is projected to rise from $25.31 billion in 2024 to $33.23 billion in 2025, with a compound annual growth rate (CAGR) of 31.3%. The upswing…
More Releases for Wheel
Agricultural Tractors Market : 2 Wheel Drive, 4 Wheel Drive 2021-2031 | AMR
The global agricultural tractors market was valued at $59.1 billion in 2021, and is projected to reach $97.8 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Asia-Pacific is expected to dominate the market, in terms of revenue, followed by Europe, North America, and LAMEA. Increase in agricultural and industrial activities and government support for the agriculture industry in Asia-Pacific propels growth of the agricultural tractors market…
Agricultural Tractors Market : 2 Wheel Drive, 4 Wheel Drive 2021-2031
The agricultural tractors market was valued at $59.1 billion in 2021, and is estimated to reach $97.8 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Asia-Pacific is expected to dominate the market, in terms of revenue, followed by Europe, North America, and LAMEA. Increase in agricultural and industrial activities and government support for the agriculture industry in Asia-Pacific propels growth of the agricultural tractors market in…
Rail Wheel And Axle Industry Forecast to 2028 Global Market Analysis by Wheel Ty …
A rail wheel and axle is a type of wheel and axel that is specially designed for railways. Growing technological advancements in train networks and trains are compelling train manufacturers to invest heavy sums in R&D for the manufacturing of light materials for wheels and axles for passenger trains, freight trains, and short-distance trains. Rise in the production of locomotives in developing and developed countries are the major driving factor…
Automotive Products |Floating wheel cap and LED Floating Wheel Caps Manufacturer
Bosswellkorea, Inc. was founded in 2014 and is specializing in the development of automotive products, LED lighting floating wheel cap and LED lighting emblem, LED lighting signboard. LED floating wheel cap patent introduction (Korea, USA, Japan, China), Floating wheel cap patent (September 2020). Janine, Spain, introduces NSV in Dubai, floating wheel cap to the world Reliability Test Pass Test Report
A floating wheel cap is a product that fits in the…
Section From Wheel Aligner Market Report 2019 Companies included 3D Wheel Aligne …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2019 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2019 to 2025, etc. The report also provides detailed segmentation on the…
Section From Wheel Aligner Market Report 2018 Companies included 3D Wheel Aligne …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the…
