Automotive Wheel Rims Market By Material Type (Carbon Fiber Wheel Rims, Steel Disc Wheel Rims, Alloy Wheel Rims), By Rim Size (11” to 20”, 21” to 25”, 26” to 35”), By Sales Channel (Original Equipment Manufacturers (OEMs) Aftermarket), By Vehicle (Two Wheelers, Cars, Heavy Vehicles, Buses, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

"Flourishing Automotive Industry to Stimulate the Surge in Automotive Wheel Rims Market"

Automotive wheel rims market value expected to reach US$ 62.7 Bn by 2026, expanding with a CAGR of 5.1% during the forecast period from 2018 to 2026. Essentially directed by Asia Pacific, automotive wheel rims market majorly driven by rising production of automobiles across the globe. Post economic despondency, rapid demand for automobiles with regulation on emission has been a major driving factor for the growth in the global automotive equipment-manufacturing sector. Tougher emission regulations are urging OEMs to focus on emission reducing techniques. Such techniques incorporate electrification as well as lightening overall weight of vehicles. Advanced alloy wheel rims reduces automotive weight while maintaining strength and ease to drive. Automotive wheel rims act as heat conductors as it enables brake disperse to maintain their heat more efficiently. Cooler operating temperatures diminishes brake tear and enhances the receptiveness of the brakes under extreme conditions. Growing automotive production with growing safety measurements, automotive wheel rims expected to witness promising demand throughout the forecast period.

Market Synopsis

Automotive Wheel Rims Market

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"Alloy Wheel Rims to Witness Swift Adoption across the Forecast Period"

Contradicting past trend, automobiles are now furnished with alloy wheel rims, which are lighter than steel with enhanced appearance of the automobile. These wheel rims are made of an alloy of materials, namely nickel, aluminum, magnesium. Due to lighter weight, alloy wheel rims offer performance advantage over steel wheels. Lighter vehicle weight empowers faster acceleration and quicker stopping of vehicle. Durability is the factor where alloy wheel rims lag behind steel wheel rims. Alloy wheels are more prone to mutilation compared to steel wheel rims. In addition, alloy wheels are better able to disseminate heat from brake components than steel alloy wheels. Considering operational as well as aesthetic appearance benefits offered by alloy wheel rims, demand for such wheel rims expected to witness promising growth across the forecast period.

Automotive Wheel Rims Market

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"Persistent Development of Automobile Industry to Ensure Fastest Growth of Automotive Wheel Rims Market in Asia Pacific"

At present, Asia Pacific market representing more than 50% of the overall automotive wheel rims market value worldwide. Region expected to exhibit comparatively higher market growth throughout the forecast period, principally due to development of automotive industry. Representing a major component of modern economies, the auto industry constitutes an important foundation and a long‐standing propelling force behind steady development of Asia Pacific region. Asia Pacific driving the overall production of light vehicles with more than 30% of global production. In 2017, China accounted for 29.01 Mn of automobile production combining passenger cars as well as commercial vehicles. Similarly, Japan and India accounted for 9.69 Mn and 4.78 Mn respectively. With rapidly growing automotive industry, demand for automotive wheel rims expected to witness promising demand throughout the forecast period.

Automotive Wheel Rims Market

"Distribution Network to Remain Key Strategy for Automotive Wheel Rims Manufacturers"

Automotive wheel rims market profoundly fragmented in nature with presence of both international as well as domestic players. Number of players are aiming for globalization of business to enhance their reach to customers. Consistent rise in demand for wheel rims has stimulated the manufacturers to cater customer demand by expanding distribution network. Manufacturers are aiming for building a local supplier base, designing an enhanced supply chain and bolstering supplier capacities. Automotive wheels rims market is largely unorganized in Asia Pacific region. However, growing penetration of franchises, awareness of customers for quality of product offered and pairing up of small independent distributors with fleet operators to shift the orientation of automotive wheel rims market towards organized sector. Key players of global automotive wheel rims market includes CITIC Dicastal Co., Ltd., ALCOA Wheels Inc., BORBET GmbH, ENKEI Corporation, Ronal Group, CM Wheels, Maxion Wheels U.S.A. LLC, Uniwheels Group, Superior Industries Inc., Azov-tech, K&K LLC, SKAD Ltd., Accuride Corporation, Steel Strips Wheels Ltd., Hitachi Metals, Ltd., Zhejiang Wanfeng Auto Wheel Co., Ltd., Mangels Industrial SA, Mefro Wheels GmbH and NTN Corporation.

Automotive Wheel Rims Market

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Historical & Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Automotive wheel rims market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global automotive wheel rims market based on systems type, end-user and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS
Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Billion
Segmentation

 Material type Segment (2016–2026; US$ Bn)
 • Carbon Fiber Wheel Rims
 • Steel Disc Wheel Rims
 • Alloy Wheel Rims

 Rim Size Segment (2016–2026; US$ Bn)
 • From 11” to 20”
 • From 21” to 25”
 • From 26” to 35”

 Sales Channel Segment (2016–2026; US$ Bn)
 • Original Equipment Manufacturers (OEM)
 • Aftermarket

 Vehicle Segment (2016–2026; US$ Bn)
 • Two Wheelers
 • Cars
 • Heavy Vehicles
 • Buses
 • Others (Three Wheelers, Industrial Vehicles etc.)

 Geography Segment (2016–2026; US$ Bn)
 • North America (U.S. and Rest of North America)
 • Europe (U.K., Germany, France, and Rest of Europe)
 • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
 • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What was the market size of automotive wheel rims in 2017 and forecast up to 2026?
  • Which is largest regional market for automotive wheel rims?
  • What are the key market trends observed in the automotive wheel rims market and outlook for automotive industry?
  • Which is the most promising material type, size, sales channel and vehicle type in automotive wheel rims market?
  • Who are the key players leading the market?
  • What are the key strategies adopted by the leading players in market?
  • What are the key automotive production trends across different geographies and sub-geographies?
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Published Date:  Sep 2018
Category:  Automotive & Transportation
Report ID:   59341
Report Format:   PDF
Pages:   120
Rating:    4.3 (58)
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