Title: Automotive Wheel Market for aftermarket to witness around 5% CAGR To 2024
1Asia Pacific automotive wheels market to witness
over 4.0 CAGR To 2024
2Key Insights from Automotive Wheel Market
- Manufacturing methods of automotive wheels are
more complex owing to the casting, forging, and
forming processes. High initial raw material and
machinery acquisition cost will continue to
hamper the overall automotive wheels market
growth. Additionally, in June 2017, European
Commission announced an extension of anti-dumping
duties on aluminum wheels imported from China.
Introduction of tariffs and duties will continue
to hamper the industry growth through the
forecast period. - Rising prominence of aluminum automotive wheels
is witnessed owing to its contribution to weight
savings, styling flexibility and enhanced
mechanical properties. Reduction of unsprung
mass, improved car handling and riding comfort
will provide strong market growth opportunities. - High-performance automotive wheels market segment
is expected to witness significant growth. It
offers high-impact force resistance, extended
durability and enhanced wheel performance.
Presence of numerous wheel manufacturers offering
customized and uniquely styled forged/cast wheels
are expected to provide positive outlook for the
segment growth.
3Continued
Based on end-use, OEM automotive wheel market
segment is expected to continue its dominance
through the forecast period. Long durability,
robust performance in all weather conditions, and
low replacement rates are expected to remain the
prominent factors contributing to the industry
growth. Industry participants are expected to
emphasize on establishing supply contracts and
agreements for long term product supply to
strengthen their industry foothold.
4 Latest Research Report On Automotive Wheel Market
_at_ https//www.gminsights.com/industry-analysis/aut
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this research report _at_ https//www.gminsights.com/
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5U.S. Automotive Wheel Market, By Material, 2017
2024 (USD Million)
6Major Companies in Automotive Wheel Market
- Maxion Wheels
- Changchun Faway Automobile Components Co., Ltd.
- Ronal Group
- Zhejiang Wanfeng Auto Wheel
- Titan International, Inc.
- Topy Industries Limited
- Borbet GmbH
- Superior Industries International, Inc
7Industry Coverage
8Regional Insights in Automotive Wheel Market
- Asia Pacific automotive wheels market segment
will continue its dominance over the forecast
period. Strong demand for aluminum wheels in the
passenger cars coupled with the aftermarket
customization requirement will continue to favor
the industry growth through the forecast period. - Read Our Automotive Bog _at_ http//freeautomotivene
ws.com/
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