Automotive Wheel Market Size Global Industry Analysis Trends, Growth, Share, Product Type, Top Manufacturers and Forecast 2024

Market Study Report LLC recently added a new title on 2019-2024 Global Automotive Wheel Market Report from its database. The report provides study with in-depth overview, describing about the Product, Industry Scope and elaborates market outlook and status to 2024.

Delaware, Selbyville - October 22, 2019 /MarketersMedia/ —

Asia Pacific automotive wheel market will observe more than 4% growth up to 2024. High urbanization rate coupled with the increased consumer spending in China, India, Thailand, and Indonesia will propel the regional industry growth. The region holds the highest potential in the industry due to its large scale production and sales ratio in the automotive industry.

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Proliferation of luxury and sport cars which requires high-performance components will stimulate the demand for magnesium and carbon fiber automotive wheels. For instance, in 2018, British based Rolls-Royce announced the highest sales record with a sale of around 4,107 units in more than 50 countries.

Technological developments in the automotive wheel sector with respect to the vehicle weight reduction and aesthetic appeal have positively influenced the business expansion. Industry participants are actively investing in R&D to introduce advanced solutions that prevent the vehicle’s assembly damage from potholes. In 2017, Maxion and Michelin have developed MICHELIN ACORUS technology, which has two rubber expanders that extend whenever the vehicle undergoes a rugged road impact.

Passenger cars are expected to register over 3% CAGR up to 2024. Increasing personal car ownerships owing to the urbanization and changing consumer lifestyle are supporting the segment growth. For instance, the European Automobile Manufacturers' Association (ACEA) announced around 12 million new passenger car vehicle registrations with a growth rate of 2.5% in 2018.

Regular wheel segment is expected to register over 2% CAGR in terms of revenue up to 2024. Continuous demand for economical commercial and passenger vehicles is propelling the segment growth. OEMs dominated the overall end-use segment and generated over USD 65 billion revenue in 2018. Increasing automobile sales due to rising consumer affordability in developing nations have promulgated the demand in this segment. Also, rising commercial transportation sector due to globalization has also resulted in higher sale of commercial vehicles.

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Aluminum dominated the material segment and were valued over USD 45 billion in 2018. Manufacturers are anticipated to expand their production capacities to meet the increasing product demand mainly from passenger cars. For instance, in February 2018, Maxion announced to set up new aluminum wheel manufacturing plant in Pune, India with an investment worth USD 50 million with an aim to produce over 2 lakh units annually.

Key players in the automotive wheel industry share include CLN Group, Mefro, Maxion, Trelleborg AB, Titan Europe, Otto Fuchs, Jantsa, Starco, and ALCAR Holding. Joint ventures and partnerships are among the key strategies adopted by the industry players to improve market share and advanced product development. For instance, in October 2017, Advance One Wheels partnered with Dymag Group to launch its first carbon fiber ADV7.2 CF.2 Advanced Series.

Table of Content:

Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry Insights and validation
1.1.4 Definitions & assumptions
1.1.5 Forecast parameters & considerations
1.1.6 Key information gained from primary sources
1.2 Data Sources
1.2.1 Paid source
1.2.2 Secondary
1.2.3 Primary
Chapter 2 Executive Summary
2.1 Automotive wheel industry 360 degree synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Product trends
2.1.4 End-use trends
2.1.5 Vehicle trends
2.1.6 Regional trends
Chapter 3 Automotive Wheel Market Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Manufacturers
3.3.3 Distribution chain analysis Distributors E-commerce
3.3.4 End users OEM Aftermarket
3.3.5 Profit margin analysis
3.3.6 Vendor matrix
3.4 Technology landscape
3.4.1 Casting technology Low Pressure Die Casting (LPDC) High Pressure Die Casting (HPDC) Gravity casting
3.4.2 Flow forming technology
3.4.3 Forging technology
3.4.4 High Light Technology (HLT)
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Industry best practices and key buying criteria
3.6.1 Need recognition
3.6.2 Information search
3.6.3 Evaluation of alternatives
3.6.4 Purchase decision
3.6.5 Post purchase behaviour
3.7 Global automotive production overview, 2015-2017 (In Units)
3.7.1 Production data
3.7.2 Automotive production, by country (In Units, 2017) Passenger cars Light Commercial Vehicles (LCV), (In Units, 2017) Heavy trucks & trailers (In Units, 2017) Buses & coach's, (In Units, 2017)
3.8 Differentiation in paint layering overview
3.9 Automotive wheel paint layering, by material
3.9.1 Aluminum
3.9.2 Steel
3.9.3 Magnesium
3.9.4 Carbon
3.10 Automotive wheel consumption scenario
3.10.1 Automotive wheels consumption scenario
3.10.2 Automotive wheels export requirements
3.11 Pricing analysis, 2017
3.11.1 Regional pricing North America Europe Asia Pacific Latin America Middle East & Africa
3.11.2 Cost structure analysis, 2017 Raw material cost Labor cost Other raw material cost Energy & Utilities cost
3.12 Industry impact forces
3.12.1 Growth drivers North America Stringent vehicle efficiency norms Europe Growing demand for small and mid-sized SUVs and compliance requirement with new emission tests Asia Pacific Increasing vehicle sales Latin America Increasing leasing and rental automotive services demand Middle East & Africa Increasing presence of automotive players in Africa and high per capita disposal income of Middle East
3.12.2 Industry pitfall and challenges High initial factory set up and trade tariff costs
3.13 Innovation & sustainability
3.13.1 MICHELIN ACORUS technology
3.13.2 One-piece, super light, hollow carbon fiber wheel technology
3.14 Growth potential analysis, 2017
3.15 Porter's analysis
3.16 Competitive landscape, 2017
3.16.1 Company market share analysis, 2017
3.16.2 Company performance analysis, 2017
3.17 Strategy dashboard
3.18 PESTLE analysis
Chapter 4 Global Automotive Wheel Market, By Material
Chapter 5 Global Automotive Wheel Market, By Product
Chapter 6 Global Automotive Wheel Market, By End-Use
Chapter 7 Global Automotive Wheel Market, By Vehicle
Chapter 8 Global Automotive Wheel Market, By Region

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