Automobile Alloy Wheels Market to expand at a CAGR of 6.3% by 2024


    Global Automobile Alloy Wheels Market Research Report 2018 to 2024 provides an in-depth analysis of the North America, Europe, Middle East and Africa, Latin America market by value, by volume, by segments, by number of AMCs, appraiser’s tenure, etc. The report also gives an insight of the Global addressable appraisal market opportunity.

    On the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.

    This report provides a detailed analysis of the Automobile Alloy Wheels market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.

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    Essential points covered in Global Automobile Alloy Wheels Market 2018 Research are:-

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the Global Automobile Alloy Wheels market?
    • What are the key market trends impacting the growth of the Global Automobile Alloy Wheels market?
    • What are the challenges to market growth?
    • Who are the key vendors in the Global Automobile Alloy Wheels market?
    • What are the market opportunities and threats faced by the vendors in the Global Automobile Alloy Wheels market?
    • What are the key outcomes of the five forces analysis of the Global Automobile Alloy Wheels market?

    This independent 225 pages report guarantees you will remain better informed than your competition. With over 150 tables and figures examining the Automobile Alloy Wheels market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader’s market revenue forecasts as well as analysis to 2024.

    Furthermore, the report provides a detailed analysis of the Global Automobile Alloy Wheels market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done.The report also includes a detailed analysis of the Global Automobile Alloy Wheels market by countries, comprising of its market by value, volume, and ARPU and penetration rate.

    Growth Drivers & Challenges:
    Growing numbers of vehicles on road and rapid urbanization bolstered the growth of global automobile alloy wheels market. In 2015, more than 72.0 million passenger cars were sold globally and 68.56 million cars were produced in the same year and these stats are estimated to reach 100 million units production of automobiles by 2020. Moreover, alloy wheel manufacturers are coming up with advanced and innovative alloy wheels to sustain and cater the huge market demand for innovative and performance allow wheels. For instance, Dymag a performance alloy wheel manufacturer introduced carbon composite car wheels which are 40% lighter than equivalent ORM aluminium alloy wheels of the same size. However, high cost and maintenance related to alloy wheels which are not affordable by the low income class in emerging economies also effects the growth adversely.

    Companies Mentioned are Uniwheels, CM Wheels, Alcoa Wheels, CITIC Dicastal, Maxion, Accuride, Steel Strips Wheels, Enkei wheels, Superior industries, TSW Alloy Wheels, Dymag Group Limited, Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd.

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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. 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. 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.

    The Automobile Alloy Wheels market is expected to increase due to growth in GDP per-capita, international tourism, etc. Yet, the market faces some challenges such as, Global economic downturn, high probability of terror attack, etc. The Global Automobile Alloy Wheels market is expected to grow at a healthy rate during the forecast period (2018-2024). The growth is expected on account of many factors, such as an increase in disposable income, increasing international inbound and outbound tourism and aging demography.

    However, the market also faces some challenges, which includes increase in the number of terror attacks, heavy taxes imposed on the tour operators and seasonality dependence. Digital travel, evolution of eco-tourism and rise of adventure tourism are some of the latest trends in the Global Automobile Alloy Wheels market.

    The report provides a basic overview of the Automobile Alloy Wheels industry including definitions, classifications, applications and industry chain structure. And development policies and plans are discussed as well as manufacturing processes and cost structures.

    Then, the report focuses on Global major leading industry players with information such as company profiles, product picture and specifications, sales, market share and contact information. What’s more, the Automobile Alloy Wheels industry development trends and marketing channels are analyzed.

    The research includes historic data from 2014 to 2017 and forecasts until 2024 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Automobile Alloy Wheels on the basis of stating current situation of the industry in 2018 so as to make comprehensive organization and judgment on the competition situation and development trend of Automobile Alloy Wheels Market and assist manufacturers and investment organization to better grasp the development course of Automobile Alloy Wheels Market.

    The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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