Automotive Wheel Market in North America to grow at over 4.5%CAGR by 2024 - PowerPoint PPT Presentation

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Automotive Wheel Market in North America to grow at over 4.5%CAGR by 2024

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Title: Automotive Wheel Market in North America to grow at over 4.5%CAGR by 2024


1
Automotive Wheel Market Price, Trends, Industry
Outlook Forecast 2017-2024
2
Key Insights from Automotive Wheel Market
  • Growth in global automobile production to meet
    the rising vehicle demand remains the key driver
    for automotive wheel market growth. As per
    analysis, global vehicle production reached
    around 95 million in 2016. Changing income trends
    along with improving living standards are the kay
    factors driving the industry demand.
  • Increasing capital investment and RD spending by
    the OEMs particularly on passenger cars will
    drive the automotive wheel market size. Global
    passenger car sales surpassed 69 million in 2016.
    Moreover, rising operating margins for OEMs
    coupled with recovery of automobile industry has
    enhanced the product demand.
  • Necessity for lightweight wheels to reduce the
    vehicle weight and enhance fuel efficiency will
    propel the automotive wheel market. Technological
    advancement and product innovations in material,
    design and aerodynamics have further enhanced the
    industry growth.
  • Regular automotive wheel market generated over
    410 million units in 2016. Increase in consumer
    spending on vehicles along with growing
    population will drive the industry demand.

3
Continued...
  • Emergence of lightweight materials including
    magnesium and carbon fiber offering relatively
    high strength has enhanced the industry growth.
    Increasing product usage in premium compact
    vehicles will drive the product demand.
  • Expansion in global transportation industry
    accompanied by rise in frequency of public
    travelling are among the major factors fueling
    the industry demand. High production costs due to
    comprehensive manufacturing process may affect
    the price trend. Availability of substitute alloy
    materials along with high product prices may
    restrain the industry growth.
  • Aluminum material accounts for more than 54 of
    the overall demand in 2016. Stringent regulations
    pertaining to vehicle weight reduction and carbon
    emissions will drive the industry growth. Rising
    demand for driving comfort, high speed and quick
    acceleration are the key fueling factors of
    product penetration.

4

Latest Research Report On Automotive Wheel Market
_at_ https//www.gminsights.com/industry-analysis/a
utomotive-wheel-market Request for a sample
of this research report _at_ https//www.gminsights.
com/request-sample/detail/1706
5
North America Automotive Wheel Market, By
Material, 2013-2024, (Thousand Units)

6
Major Companies in Automotive Wheel Market
  • Ronal Group
  • Maxion
  • Alcoa
  • Dicastal
  • Steel Strips
  • Enkei
  • United Wheels Group
  • Otto Fuchs
  • Trelleborg

7
Industry Coverage

8
Regional Insights in Automotive Wheel Market
  • Asia Pacific automotive wheel market is
    anticipated to value over USD 53 billion by 2024.
    Increasing vehicle production particularly in
    China and India remains the key driving factor
    for industry growth. Increasing manufacturing
    facilities, owing to favorable socio-economic
    conditions will drive the regional demand.
  • Europe automotive wheel market will witness
    growth over 4 up to 2024. Rising demand for
    premium vehicles coupled with recovery from
    economic recession are the key factors supporting
    the industry growth. Presence of key industry
    players provides a positive outlook for the
    regional demand.
  • High performance automotive wheel market was
    worth over USD 11.4 billion in 2016. Rise in
    demand for sports, premium and luxury vehicles
    particularly in Europe and North America will
    support the industry demand. Enhanced
    acceleration, smooth braking and improved comfort
    are the driving factors for product scope in
    high-performance vehicles.

9
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