The automotive wheel rims market was valued at USD 20.8 billion in 2021 and is expected to reach USD 39.25 billion by 2029, registering a CAGR of 8.26% during the forecast period of 2022 to 2029.
This automotive wheel rims market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimisation, market share, impact of domestic and localised 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, g Contact We Market Research for an Analyst Brief to learn more about the automobile wheel rims industry. Our staff will assist you in making an informed choice to expand your market.
The rims, which are the outer edges of a wheel, are made to effectively hold the tyre in place. The ability of wheel rims to carry vehicle weight and endure operating forces depends on their strength. Aluminum, alloys, steel, magnesium, and nonferrous alloys are some of the most popular materials used to manufacture wheel rims. Due to their appealing design and lighter weight than steel wheels, alloy wheels are quickly growing in popularity. Because aluminium conducts heat, alloy wheels disperse heat from tyres and brakes work better than they do on steel wheels. Wheel rims have a considerable effect on a car’s braking system.
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Global Automotive Wheel Rims Market – Segmentation
The global automotive wheel rims is segmented based on material type, sales channel type and vehicle type.
Based on material type, the market is segmented into,
• Alloys
• Steel
• Carbon Fibre
Based on sales channel type, the market is segmented into,
• OEM
• Aftermarket
Based on vehicle type, the market is segmented into,
• Passenger Cars
• Commercial Vehicles
Global Automotive Wheel Rims Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Automotive Wheel Rims– Key Market players
The major players in the industry are Maxion Wheels, Steel Strip Wheels, ESE Carbon, Accuride Corporation, Superior Industries International, Ronal Group, and Telleborg AB, among others.
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This report on the Automotive Wheel Rims 2023 covers enabling technologies, key market trends, market drivers, challenges, global standardisation, regulatory regional landscape, deployment models, case studies, opportunities, future roadmaps, value chains, historical, and forecasted data of top market players profiled. The American area dominates the global landscapes in this multi-billion dollar market for automotive wheel rims. Although being a vital component of contemporary life and having been there for more than a century, the Automobile Wheel Rims Market has seen significant change from time to time.
By examining the major market players, the Automotive Wheel Rims study analyses competitive situations. This study features company profiles of major market participants along with Porter’s Five Forces and Value Chain analyses. The research also discusses the business growth tactics used by the corporations to grow their operations through mergers, acquisitions, and other techniques. The key market participants’ sales, profitability, and overall revenue are among the financial criteria that are evaluated.
The nation portion of the research also lists specific market-impacting elements and modifications to market regulation that have an affect on the market’s present and future developments. Data points including technical trends, porter’s five forces analysis, case studies, and upstream and downstream value chain analyses are just a few of the indicators utilised to anticipate the market environment for certain nations. When giving prediction analysis of the country data, it also takes into account the presence and accessibility of international brands as well as the difficulties they encounter due to strong or weak competition from local and domestic brands, the influence of domestic tariffs, and trade routes.
Key questions answered in the report:
- What are the key factors driving the global Market?
- Who are the key manufacturers in space?
- What are the market opportunities, market risks and market overview of the Global Market?
- What are sales, revenue, and price analysis of top manufacturers of the Global Market?
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