Automotive Wheel Market Size, Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027

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 Global Automotive Wheel Market : is expected to reach US$ 51.7 Bn by 2027, at a CAGR of 5.45% during the forecast period.

Automotive Wheel Market Overview: The Automotive Wheel market research provides a full competition picture, including the market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Automotive Wheel Market, as well as the causes for variances in the industry's growth in different areas.

Market Scope: To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.

This Automotive Wheel market report covers new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and product approvals, product launches. To learn more about Maximize Market Research Automotive Wheel market, please contact us for an Analyst Brief; our experts will assist you in making an informed market choice to achieve your goals.

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Segmentation:

Global Automotive Wheel Market is segmented by rim size, material, vehicle type, vehicle class, off highway and region. Rim size is classified as compact size (13 inch – 16 inch), mid-size (17 inch – 21 inch), large size (21 inch and above). Materials are divided into steel, alloy, carbon fibre, magnesium. Vehicle type are sub segmented into passenger vehicle, light commercial vehicle, heavy commercial vehicle. Vehicle class are classified as economy, mid-priced, luxury-priced. Off-highway are splits into construction & mining, agriculture tractors. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

On the basis of vehicle type, Passenger vehicles segment is estimated to hold the largest market share during the forecast period. So, the increase in R&D investment by OEMs and Tier 1 players to improve the drive quality and efficiency of passenger vehicles will drive the automotive wheel market in this segment. However, the rise in disposable income, particularly in developing countries such as China, India, Mexico, and others, will drive the automotive wheel market in the passenger vehicle segment.

Key Players:  The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Automotive Wheel market are

• Iochpe-Maxion
• Superior Industries International
• Accuride Corporation
• Steel Strips Wheels
• Hitachi Metals
• Enkei
• Citic Dicastal
• Zhejiang Wanfeng Auto Wheel
• Borbet
• Mangels Industrial
• Mefro Wheels
• Euromax Wheel
• MHT Luxury Wheels
• Status Wheels, Inc.
• Wheel Pros, LLC
• Fuel Off-Road Wheels
• SOTA Offroad
• Enkei Wheels India Ltd.
• Ronal AG
• Uniwheels
• BBS Kraftfahrzeugtechnik AG.

Regional Analysis: The region portion of the Automotive Wheel market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. The geographic market assessment is based on the existing scenario and predicted developments.

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COVID-19 Impact Analysis on Automotive Wheel Market:

Following the outbreak of the pandemic, end-user sectors where Automotive Wheel are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive Wheel manufacturers, influencing the growth of the Automotive Wheel market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Automotive Wheel from end-user businesses has decreased significantly.

Key Questions Answered in the Automotive Wheel Market Report are:

  • Which are the major companies in the Automotive Wheel market?
  • Which is the potential market for Automotive Wheel in terms of the region?
  • What are the opportunities for new market entrants?
  • What is expected to drive the growth of the market in the next seven years?

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