The digital era, also known as the 4.0 industry, is present in all areas of the economy and is contributing significantly to its growth. The automotive industry is changing, and this is influencing all of its sub-industries, including the automotive tyre industry. The sector is witnessing a transformation in which large firms no longer offer simple vehicles or tyres, but instead employ new technology and digitalization to sell complex services tailored to the needs of their customers. Connectivity, mobility, and autonomy have emerged as critical pillars in the creation of such integrated market solutions.
Automotive Wheel Market Overview:
MaximizeMarket Research’s examination into the Automotive Wheel Market looks at segments and sub-fragments in both national and regional markets. The study examines how drivers, restraints, and macro variables affect Automotive Wheel markets throughout the medium to long term. It provides a complete analysis of trends, predictions, and economic aspects in the worldwide Automotive Wheel market, which anticipates strong growth with a CAGR of 2021-2029.
Automotive Wheel Market Scope:
This study goes at numbers, market trends, and micro and macro issues. It also illustrates the elements that influence and impede market growth. In the study, the MMR Matrix gives information on prospective investment opportunities for both existing and new market participants. The report, which employs analytical approaches such as Porter’s five forces analysis and PESTLE, provides insights into the Automotive Wheel market’s present trends and future forecasts for the years 2023-2029. The analysis also highlights upcoming changes that will have an impact on demand during the projected period.
Automotive Wheel Market Methodology:
The study relies on a thorough review of both primary and secondary research papers to ensure correctness. Several sources are examined, including press announcements, yearly reports, and official websites. The research is based on a grasp of the market’s economic, social, technological, and geographical characteristics. Each piece of information is captured and collated to provide for a thorough and well-evaluated data explosion in market research.
Automotive Wheel Market Growth Forecast:
Automotive Wheel Market Size was valued at US$ 39.96 Bn. in 2022 and the total Automotive Wheel revenue is expected to grow at 5.9% from 2023 to 2029, reaching nearly US$ 59.69 Bn.
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Automotive Wheel Market Segmentation:
by Rim Size
1. 13″-15″
2. 16″-18″
3. 19″-21″
4. Above 21″
by Material
1. Alloy
2. Steel
3. Aluminum
4. Carbon Fiber
5. Other
by Vehicle
1. Passenger Vehicle
2. Light Commercial Vehicle
3. Heavy Commercial Vehicle
by End-User
1. Original Equipment Manufacturer (OEM)
2. Aftermarket
The report analyzes the top players and latest trends in the Automotive Wheel Market.
1. MAXION Wheels (Germany)
2. Borbet GmbH (Germany)
3. Uniwheels (Germany)
4. BBS Kraftfahrzeugtechnik AG. (Germany)
5. Thyssenkrupp AG (Germany)
6. CITIC Dicastal Co., Ltd. (China)
7. Zhejiang Wanfeng Auto Wheel (China)
8. LIZHONG WHEEL GROUP (China)
9. Superior Industries International (US)
10. Accuride Corporation (US)
11. MHT Luxury Wheels (US)
12. Status Wheels, Inc. (US)
13. Wheel Pros, LLC (US)
14. Fuel Off-Road Wheels (US)
15. SOTA Offroad (US)
16. Forgiato Wheels (US)
17. KONIG AMERICAN (US)
18. LKQ Corporation (US)
19. HRE Performance Wheels (US)
20. Vossen Wheels (US)
21. ALCOA WHEELS (US)
22. Steel Strips Wheels Ltd. (India)
23. Enkei Wheels India Ltd. (India)
24. Hitachi Metals (Japan)
25. TOPY INDUSTRIES (Japan)
26. Mangels Industrial (Brazil)
27. Ronal AG (Switzerland)
28. CMWheels (UK)
29. Alcar Holding GmbH (Austria)
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Automotive Wheel Market Regional Analysis:
The research report examines the Automotive Wheel market in depth, segmenting it into different regions. The study assesses the market on a regional and country-by-country basis in North America, Latin America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market in each region is thoroughly evaluated, taking into account regional trends, restrictions, and expansion potential.
Impact of COVID-19 on the Automotive Wheel Market:
The research examines the influence of COVID-19 on the Automotive Wheel market. Despite the epidemic, Maximize Market Research sees profitable opportunities for manufacturers and wants to provide a thorough view of the current situation, the economic slowdown, and the pandemic’s influence on the whole manufacturing sector.
Advantages of Purchasing This Report:
In-depth examination of changing competition dynamics and factors influencing or impeding market growth.
Understanding industry trends requires insights on technical advancements.
A seven-year prediction based on expected market growth.
A comprehensive analysis of evolving competitive dynamics.
Market data and in-depth segment analysis, including attractive visualisations and a full Porter’s Five analysis, enable informed business decisions.
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