Automotive Wheel Market Worth 50.54 Billion USD by 2025

PUNE, India, May 11, 2018 /PRNewswire/ --

According to a new market research report "Automotive Wheel Market by Rim Size (13-15,16-18,19-21,>21 inch), Material (Steel, Alloy, Carbon Fiber), Off-highway (Construction & Mining, Agriculture Tractors) Vehicle Type, Vehicle Class, End-Use, and Region - Global Forecast to 2025"published MarketsandMarkets™, the market is projected to grow at a CAGR of 5.52% during the forecast period, from USD 32.87 Billion in 2017 to USD 50.54 Billion by 2025.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 93 market data Tables and 51 Figures spread through 151 Pages and in-depth TOC on "Automotive Wheel Market'’

https://www.marketsandmarkets.com/Market-Reports/automotive-wheel-market-254835180.html

Early buyers will receive 10% customization on this report. 

The growing vehicle production and the rising demand for improved vehicle dynamics are expected to drive the automotive wheel market.

The alloy wheel segment is estimated to be the largest segment in the Automotive Wheel Market 

The alloy wheel is estimated to be the largest segment of the Automotive Wheel Market during the forecast period. The rise in demand for reducing vehicle weight and improved vehicle dynamics for complying with stringent emission norms has fuelled the demand for the alloy wheel segment.

OE segment is estimated to be the largest and fastest growing segment in the Automotive Wheel Market 

The OE segment is estimated to be the largest and fastest growing market during the forecast period. Wheels are designed to last long with the vehicle life and are replaced or changed in case of accidental damage or by an enthusiast. So, the demand for the wheel is low in the aftermarket as compared to the OE market.

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=254835180

The luxury priced vehicle segment is estimated to be the largest and fastest growing segment of Automotive Wheel Market in terms of value 

The Automotive Wheel Market for luxury priced vehicle is estimated to grow at the highest rate during the forecast period. Luxury-priced vehicles include premium sports vehicle variants, which use high-performance wheels. These vehicles are performance-oriented, and wheels play a vital role in improving the vehicle dynamics. Due to increasing competition in the automotive industry, luxury and premium car manufacturers have increased their focus on high-performance vehicles. These companies along with wheels manufacturers are investing heavily in R&D to develop lightweight and high-strength wheels, which will help boost the car performance.

Asia Pacific: Largest regional market for automotive wheels 

Asia Pacific is estimated to be the largest market for automotive wheels. The Asia Pacific region accounts for about ~49% of the global automobile production. The region comprises emerging economies such as China and India along with developed nations such as Japan and South Korea. The increase in sales of vehicles can be attributed to various factors such as increasing per capita income, increased infrastructure spending, attractive FDI from governments, economic production cost, lenient environment regulations, and so on. Additionally, the number of vehicles on the road is increasing owing to the improving road infrastructure and increase in disposable income.

The report covers all the major players in the Automotive Wheel Market, including Iochpe-Maxion (Brazil), Superior Industries International (US), Accuride Corporation (US), Steel Strips Wheels (India), Hitachi Metals (Japan), Enkei (Japan), Citic Dicastal (China), Zhejiang Wanfeng Auto Wheel (China), Borbet (Germany), Mangels Industrial (Brazil), and Mefro Wheels (Germany).

Know more about the Automotive Wheel Market
https://www.marketsandmarkets.com/Market-Reports/automotive-wheel-market-254835180.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Salgarkar
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
Email: sales@marketsandmarkets.com

Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets