Automotive Wheel Market Share, Trend & Growth Forecast to 2026

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Automotive Wheel Market Share, Trend Growth
Forecast to 2026
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Key Insights Automotive Wheel Market

• the global automotive wheel market size is
  expected to exceed 120 billion by 2026.
  Manufacturers are increasingly focusing on
  innovations to reduce downtime, improve
  performance, and produce cost-effective vehicles.
  On the other hand, the demand for premium and
  luxury vehicles is also witnessing a major
  upsurge, which will contribute to the rising
  popularity of the product.
• The production of distinct alloy forms, including
  magnesium, steel, and aluminum, is on the rise,
  encouraging the delivery of enhanced heat
  conduction and aesthetic appeal over conventional
  steel wheels. These advancements will positively
  influence the automotive wheel market trends in
  the coming years.

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Continued

• For instance, Toyota revealed its new mid-size
  pickup truck in 2020, dubbed the Toyota Tacoma.
  The new truck features lightweight tires with a
  sheet-molded composite (SMC) deck inner bed, as
  well as more resilient walls that weight nearly
  10 less than steel, making the new truck
  considerably lighter than its 2019 predecessor.
  This weight reduction, alongside other tweaks
  added by TRD engineers, has resulted in enhanced
  off-road capability and handling, allowing for
  superior performance on various terrains.
• With regards to the material spectrum, the carbon
  fiber segment is poised to register a CAGR of
  nearly 6 through 2026, owing to high stiffness,
  tensile strength, and reduced weight. As compared
  to aluminum wheels, automotive wheels from the
  carbon fiber segment offer consistent
  performance, enhanced braking, acceleration.

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Major Companies Automotive Wheel Market

• Euromax Wheel
• American Eagle Wheels Corporation
• Steel Strips Wheels Limited
• TSW Alloy Wheels
• Automotive Wheels Ltd
• Wheel Pros
• Borbet

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Regional Automotive Wheel Market

• In July 2019, American aviation company- Lycoming
  unveiled an electronic ignition system with an
  aim to replace the traditional magnetos. The new
  electronic ignition system had no moving parts
  and has dimensions similar to the conventional
  magnetos. Global aircraft ignition system marlet
  is fairly consolidated with prominent market
  players like Electroair, Meggitt, Transdigm,
  Woodward, and Sky Dynamics, among various others.
  
• In terms of segmentation by vehicle, the global
  automotive wheel market from the heavy trucks
  segment is likely to observe a burgeoning demand
  stemming from rapid urbanization and
  industrialization over the predicted timeframe.
  Changing consumer preferences, alongside material
  development that provides high load-bearing
  capacities are anticipated to bolster the
  automotive wheels demand for heavy commercial
  vehicles.
• On the regional front, North America automotive
  wheel market is anticipated to record a CAGR of
  6 through 2026. This can be attributed to the
  presence of numerous wheel manufacturers such as
  Wheel Pros and U.S. Wheel Corporation, among
  others. These market players are entering
  acquisition deals to strengthen the regional
  presence. For example, Superior Industries
  acquired Uniwheels AG in March 2017, with 61
  shares under its ownership.

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