The luxury priced vehicle segment is estimated to be the largest and fastest growing segment of automotive wheel market
The automotive wheel market for luxury priced vehicle is estimated to grow at the highest rate during the forecast period. Luxury-priced vehicles include premium sports vehicle variants, which use high-performance wheels. These vehicles are performance-oriented, and wheels play a vital role in improving the vehicle dynamics. Due to increasing competition in the automotive industry, luxury and premium car manufacturers have increased their focus on high-performance vehicles. These companies along with wheels manufacturers are investing heavily in R&D to develop lightweight and high-strength wheels, which will help boost the car performance.
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