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Global Automotive Metal Wheel Market Analysis, Trend, Size, Share, and Forecast 2017 - 2022
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Casting to Represent a Leading Segment
Steel wheel is expected to register a relatively high revenue growth in the global automotive wheel market by the end of 2022. This segment is predicted to represent nearly US$ 11,000 Mn in terms of revenue during the predicted period. APEJ is expected to remain the largest market for metal wheel materials globally. Steel wheel is predicted to register the highest CAGR growth among other materials in the global market, followed by aluminum alloy wheel. In terms of revenue, aluminum alloy wheels is expected to reflect the second highest growth in the global automotive metal wheel market by 2022 – end.
Aftermarket is predicted to register the highest CAGR in the global automotive metal wheels through 2022. In terms of revenue, this segment is expected to reflect the highest growth, and is predicted to represent over US$ 18,000 Mn in 2017. OEM is expected to register the second highest revenue growth in the global automotive metal wheel market.
Throughout 2022, luxury passenger car is expected to register the highest CAGR growth in the global automotive metal wheel market, followed by heavy commercial vehicles. Compact passenger car is predicted to reflect the highest revenue growth, and is predicted to represent over US$ 8,500 Mn by the end of 2022. In terms of revenue, mid-sized passenger cars is expected to reflect the second highest growth among other vehicles in the global automotive metal wheel market by 2022 – end. Light commercial vehicles and mid-sized passenger cars is expected to register parallel CAGR growth in the global market.
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In terms of technology, casting is expected to register the highest revenue growth in the global automotive metal wheel market. This segment is expected to represent over US$ 19,000 Mn in the global market in 2017. Further, casting is predicted to register the highest CAGR in the global automotive metal wheel market throughout 2022. Forging among other technologies is predicted to register the second highest revenue growth in the global automotive metal wheel market by the end of 2017.
Competition Tracking
Leading market players operating in the global automotive metal wheel market include Iochpe-Maxion S.A., CITIC Limited, BORBET GmbH, Superior Industries International, Inc., Topy Industries Ltd., Accuride Corporation, Lizhong Wheel Group Ltd., Zhejiang Jingu Company Limited, Alcar Holding GMBH, and ENKEI Corporation.
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