Automotive Alloy Wheels Market: 2018 Global Share, Size, Manufacturers Analysis, Growth Factors, Trends, Regional And Competitive Landscape Forecast To 2023

“”Automotive Alloy Wheels Market””
Automotive Alloy Wheels Market is growing at a slow but steady pace and according to Market Research Future (MRFR), it is set to capture a CAGR of 2.9% between 2017 and 2023. Global Automotive Alloy Wheels Market growth is boosted by factors such as demand for light-weight wheels, which offers greater strength has continued to grow in recent years. Alloy wheels usually have superior performance advantages over steel wheels. Alloy wheels are lighter and increase fuel efficiency of a vehicle. They are also able to en

Automotive Alloy Wheels Key Company Analyzed For This Research Report Are: Euromax Wheel (U.S.), MHT Luxury Wheels (U.S.), Status Wheels, Inc. (U.S.), Wheel Pros, LLC (U.S.), Fuel Off-Road Wheels (U.S.), SOTA Offroad (U.S.), Enkei Wheels India Ltd.(India), Ronal AG (Switzerland), Uniwheels (Switzerland) and BBS Kraftfahrzeugtechnik AG (Germany).

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Growth in the automobile industry and growing trend of vehicle customization is also aiding to the growth of automotive alloy wheel market. However, alloy wheels are pricier than steel wheels. This is one of the factors, which is hampering the expansion of the market in countries with massive pools of price-sensitive consumers. Countries such as India and Indonesia have large population but these countries have still not given into the trend of automotive alloy wheels yet. Price is a major factor influencing the market’s growth.

 Alloys are generally made up of metals and other elements, so, hike in price of metals such as iron or aluminum impacts the market negatively. Periodic changes in government guidelines, advancements in technology and environmental codifications also pose challenges to the market. In addition, alloy wheels add to the aesthetic appeal of a vehicle than steel wheels and are often the preference of consumers since they can be customized as per buyer’s specification. These industry players are ratifying various approaches including mergers and acquisitions to remain competitive.

Regional Analysis:

Asia-Pacific is likely to have the maximum share of the global automotive alloy wheel market between 2017 and 2023, owing to the expanding automotive sector. The ongoing industrialization and economic acceleration in countries such as India and China has provided an impetus to the region’s market. North America and Europe follow Asia Pacific. These two regions will important destinations for market player during the assessment period.

Market Segmentation:

The global automotive alloy wheel market is segmented based on finishing type, wheel type and application. On the basis of finishing type, the global automotive alloy wheel market is segmented into polished alloy wheel, two-toned alloy wheel and others. On the basis of wheel type, it is segmented into compact-size, mid-size and full-size. On the basis of application, it is segmented into commercial vehicles, passenger cars and two wheelers.

The report for Global Automotive Alloy Wheel Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Target Audience:

  • Organizations
  • Manufacturer
  • Research Institute / Education Institute
  • Potential Investors

Industry Updates:

  • Synergies Castings is set to invest around 100 million dollars in a new alloy wheel manufacturing plant in India. Synergies castings is one of the leading aluminum alloy wheel manufacturers in India. The new unit is estimated to have an annual production capacity of 2.4 million wheels and equipped with advanced manufacturing technologies such as machining, painting facilities and cosmopolitan casting.
  • The GFG Alliance Industrial group has been granted permission by the Scottish highlands Council to set up an alloy wheel factory in Fort William, Scottish Highlands, UK. GFG intends to start up this alloy wheel factory which would be a 400-worker factory, producing 2 million wheels a year from 2020.

Major Table Of Content:

1 Executive Summary

2 Research Methodology

2.1 Scope Of The Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market Size Estimation

2.4 Forecast Model

3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter’s Five Forces Analysis

Continued …

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