Automotive Alloy Wheel Global Market Prognosticated To Escalate With a Staggering CAGR; MRFR Unleashes Industry Insights Up To 2023

Pune, India, December, 2017/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Automotive Alloy Wheel Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Automotive Alloy Wheel Global Market – Overview

The Global Automotive Alloy Wheel Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Alloy Wheel will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).  

Steel and alloy wheels are the two most common types of wheels used in cars. Automotive alloy wheel is made up of alloy of light metals such as aluminum, nickel and others. Alloy wheels are stronger and lighter than steel and they also improve the appearance of the car. Consumers are becoming more conscious about the external styling of the vehicles and better riding quality, which is pushing the market towards growth. Easy acceleration of the car, growing disposable income, improved driving experience and lower cost are some of the driving factors of the automotive Alloy Wheel market.

In automotive industry, pricing factor has always been a point of discussion before purchase. Here, the discussion is of Automotive Alloy Wheel such as electric cars, pickups, trucks and others. As per the market statistics, the sales of Automotive Alloy Wheel is rising very rapidly in developed countries such as the US, China, Germany, UK, Norway and others. All these countries are developed and has very good economy with healthy disposable income. As a result, the sales has increased. But moving towards the developing and undeveloped countries, the high prices of Automotive Alloy Wheel has become a major hindrance for market growth. Countries such as India, Indonesia and Brazil consumes a large pool of population but still the trend of Automotive Alloy Wheel has not come into pace

The adaptive front light systems market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the adaptive front light systems market. The total four wheeler production for the year 2015 was almost 90 million units and is expected to witness further boost and reach more than 100 million units by the year 2020.  This results as a primary factor driving the adaptive front light systems as lighting acts as an essential safety feature of a vehicle. Thus the growth of the adaptive front light systems market is expected to go hand in hand with the automotive industry.

Ferrous Commodities such as steel and iron are subjected to steep price fluctuations more often than not. These price fluctuations often end up negatively impacting the automotive industry. The increasing demand for steel is directly proportional to the increasing demand for automobiles across the globe. Raw materials are the biggest cost driver for the automotive industry with approximately 22% of an automaker’s operational costs depending on steel. Steel being an essential part of the automotive industry mainly due to the lack of availability of substitutes, when subjected to sharp price fluctuations ends up hampering the overall growth of the automotive industry and in turn directly impacting the Automotive Alloy Wheel market. 

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Alloy Wheel Market Research Report

Competitive Snapshot:

The global Automotive Alloy Wheel market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. In addition, in-house research and development capabilities, global footprint network, material offerings, R&D investments, and strong client base have become the key areas to gain an edge over the competitors.

The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality Automotive Alloy Wheel services, in order to survive and succeed in an intensely competitive market environment.

The vendors with better technical and financial resources can develop innovative products that render the competitors' products obsolete and non-competitive even before they are launched, or costs are recovered. Therefore, vendors have to develop new technologies and stay abreast of emerging technologies that could affect the continuing competitiveness of their product lines in the market. The competitive environment in the market is likely to intensify further due to an increase in product/service extensions, technological innovations, and M&A.

Key Players:

Euromax Wheel (U.S.), MHT Luxury Wheels (U.S.), Status Wheels, Inc. (U.S.), Wheel Pros, LLC (U.S.), Fuel Off-Road Wheels (U.S.), SOTA Offroad (U.S.), Enkei Wheels India Ltd.(India), Ronal AG (Switzerland), Uniwheels (Switzerland) and BBS Kraftfahrzeugtechnik AG (Germany) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Alloy Wheel Market.

Automotive Alloy Wheel Market – Segmentation

The Global Automotive Alloy Wheel Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Finishing Type: Comprises olished alloy wheel, Two-toned allay wheel and Others.

Segmentation by Wheel Type: Comprises Compact-size, Mid-size, Full-size

Segmentation by Vehicle Type: Comprises Passenger cars, Commercial vehicles and Two wheelers

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Automotive Alloy Wheel Market:

Regional Analysis

The global Automotive Alloy Wheel, by region, has been segmented into the four major regions of North America, Europe, Asia Pacific and Rest of the World. Over the last couple of years, the automotive industry has flourished globally, with several technologies emerging in the market. Geographically, Asia Pacific region has been the largest market for automotive exhaust in 2016, followed by North America and Europe. Asia Pacific region has registered the fastest growing region due to the presence of emerging economies such as China, India, South Korea, and Japan. Moreover, several automotive giants have been focusing on this region mainly due to the abundant demand for passenger as well as commercial vehicles, and have therefore planned to expand their operations in the Asia Pacific region. By the end of forecast year, the global market is expected to witness cut throat competition between North America and Europe, in terms of revenue and market share.