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Automobiles plays an important role in our day to day life, primarily being a functional tool people still takes pride in choosing  alloy wheel over steel wheels as they have improve appearance as well as the performance. Automobile manufacturers also focus on providing their vehicles with alloy wheels as they are preferred by the customers owing to their looks and performance. Automobile alloy wheels market players continuously focusing on providing cut edge technology with performance driven products. Alloy wheels also increases the acceleration and breaking performance and also improve fuel economy as they are light weight and provide better heat conduction.\n

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report code am1008

Report Code : AM1008

Lighter Automobile Alloy Wheels: Evolving vehicle's performance

99 Wall Street, Suite No:- 527, New York, NY 10005

United States of America

+1-646-568-7747

+1-437-886-1181

Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301

India 

+44-203-318-6627

+91-120-473-0422,

+91-844-785-9968

www.goldsteinresearch.com

sales@goldsteinresearch.com

lighter automobile alloy wheels evolving vehicle

Lighter Automobile Alloy Wheels: Evolving vehicle's performance

Global Automobile Alloy Wheels Market Outlook

Automobiles plays an important role in our day to day life, primarily being a functional tool people still takes pride in choosing  alloy wheel over steel wheels as they have improve appearance as well as the performance. Automobile manufacturers also focus on providing their vehicles with alloy wheels as they are preferred by the customers owing to their looks and performance. Automobile alloy wheels market players continuously focusing on providing cut edge technology with performance driven products. Alloy wheels also increases the acceleration and breaking performance and also improve fuel economy as they are light weight and provide better heat conduction.

Alloy wheels are generally used in passengers cars as the low commercial vehicle (LCVs) and high commercial vehicle (HCVs) majorly uses steel rims because they can bear heavy loads and have low maintenance cost. Growing automobile industry and rising trend of customization of vehicles majorly driven the growth of automobile alloy wheels market. Major alloy wheel manufacturers are adopting various business strategies such as merger & acquisitions to sustain the huge market competition in automotive sector. For instance, Superior Industries International Inc., the largest manufacturer of forged and cast wheels announced the acquisition of Germany based UNIWHEELS AG in March 2017.

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Lighter Automobile Alloy Wheels: Evolving vehicle's performance

  • Market Segmentation
  • By Vehicle Type
    • Passenger vehicles
    • Four wheelers
    • Two wheelers
    • Commercial Vehicles
    • LCV (Light Commercial Vehicles)
    • HCV (Heavy Commercial Vehicles)
  • By Material Type
    • Aluminum
    • Magnesium
    • Carbon Fiber
  • By End Users
    •  OEMs (Original Equipment Manufacturer)
    • Aftermarket

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Lighter Automobile Alloy Wheels: Evolving vehicle's performance

  • Based on Geography
  • North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Production (In tons)}
  •  Latin America (Brazil, Mexico, Argentina & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Production (In tons)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Production (In tons)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Production (In tons)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Production (In tons)}
  •  Rest of World {Market Size (USD Billion), Growth Analysis (%) and Production (In tons)}
    • Request for TOC @ https://www.goldsteinresearch.com/toc-request/automobile-alloy-wheels-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024
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Lighter Automobile Alloy Wheels: Evolving vehicle's performance

Market Size and Forecast (2016-2024)

Global automobile alloy wheels market accounted for USD 16.7 billion in 2016 and the market is expected to reach USD 24.8 billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 5.8% over the forecast period i.e. 2016-2024.

Geographically, North America accounted for the highest revenue share in global automobile alloy wheels market in 2016 with more than USD 4.5 billion revenue share. North America's aftermarket consist of significant share in alloy wheel market with more than 75% customers are car dealerships, 20% are auto body shops and 5% are tire dealers in aftermarket. North America is closely followed by the Europe with more than 22% share in global automobile alloy wheels market. Germany is the largest market for automobile alloy wheels with maximum consumption in German auto plants which are scattered throughout the country. German hosts largest concentration of the 47 OEM plants throughout Europe. Asia-Pacific region will show strong growth in automobile alloy wheels demand through 2024, which is projected to expand at a CAGR of 6.3% over the forecast period. Sales in the region will be driven by the growing automotive sector and rapid urbanization in developing countries such China and India.

lighter automobile alloy wheels evolving vehicle 4

Lighter Automobile Alloy Wheels: Evolving vehicle's performance

The global automobile alloy wheels market is segmented based on vehicles, by material and by end users. End users segment is further bifurcated into OEMs and aftermarket. In 2016, OEMs accounted for the highest share of automotive alloy wheels market with more than 80% revenue share in total market. Aftermarket sales are significantly growing owing to growing trend of vehicle customization. Aftermarket sales are majorly occupied by the car dealerships followed by the auto body shops.

Global automobile market is directly driven by the growing sales of automobiles across the globe and the automobile alloy wheels market accounted for USD 16.7 billion in 2016. Further the market is expected to expand at a CAGR of 5.8% over the forecast period i.e. 2016-2024.

Asia-Pacific is the fastest growing region for automobile alloy wheels market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific automobile alloy wheels market valued USD 3.5 billion in 2016 and is estimated to reach USD 5.2 billion by 2024. China is expected to dominate the automobile alloy wheels market followed by India due to large automobile production in these countries. Rising personal disposable income and readiness to spend on customization of vehicles is accelerating the Asia Pacific aftermarket sales of alloy wheels.

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Lighter Automobile Alloy Wheels: Evolving vehicle's performance

  • Scope Background
  • Market Synopsis
  • Market Segmentation
  • Global automobile alloy wheels market segmentation as follows:
    • By Vehicle Type (Market Size, Demand Analysis and Growth Analysis)
    • By Material Type (Market Size, Demand Analysis and Growth Analysis)
    • By  End Users Type (Market Size, Demand Analysis and Growth Analysis)
  • By Country
    • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
    • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
    • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
    • Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
    • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
    • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

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Lighter Automobile Alloy Wheels: Evolving vehicle's performance

  • Market Dynamics: Growth Drivers, Restraints and Opportunities
    • Risk Factors
    • Regional Variations
    • Recent Trends and Developments
  • Key Market Players
    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis
  • Porter’s Five Force Model
  • Market Landscape: Competition and Beyond
  • Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
  • Expert Analysis
  • Concluding Remarks

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Lighter Automobile Alloy Wheels: Evolving vehicle's performance

About Goldstein Research

Based in U.S., Goldstein Researchis a young business consulting and market research firm with vast reach across America, Asia and parts of Europe and the Middle East. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

With 30+ domain experts and 50+ employees working day and night to crunch numbers and bring out the best and detailed market reports and forecasts, we strive to enable you to foresee upcoming market challenges and develop a robust business model and strategies, which would add to your profitability and market visibility as a brand.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts.

lighter automobile alloy wheels evolving vehicle 8

Lighter Automobile Alloy Wheels: Evolving vehicle's performance

Sample Request

For more information Contact Us:

99 Wall Street, Suite No:- 527, New York, NY 10005

United States of America

+1-646-568-7747

+1-437-886-1181

Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301

India 

+44-203-318-6627

+91-120-473-0422,

+91-844-785-9968

www.goldsteinresearch.com

sales@goldsteinresearch.com