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Automotive Wheel - Global Market Trajectory & Analytics

  • ID: 4804382
  • Report
  • April 2021
  • Region: Global
  • 406 pages
  • Global Industry Analysts, Inc
The global market for Automotive Wheel is projected to reach US$40.9 billion by 2025, sustained by stable opportunities in emerging markets as mature markets saturate in terms of sales potential. Automotive sales in developed and developing markets are on the opposite sides of the wave. Emerging markets will emerge as key revenue generating pockets as global production growth transitions from mature markets to emerging markets, a trend that will only intensify further over the long-term. A large chunk of production growth by 2025 will emerge from China, South Asia, Europe, South America, and Middle East and Africa. Although fraught with volatility, there are opportunities to leverage in the dynamically changing automotive market environment. Innovation will become the biggest levers for creating value and for remaining profitable in the changing automobile ecosystem. A strategic blend of product development/innovation, high level of technical knowledge, and robust customer support are vital parameters for success in the evolving future of the automotive value chain.

As the most important weight bearing structural part of the automobile, the wheel and the wheel base are important components. The wheel is also important as it influences the structural safety of the vehicle when in motion. Over the last 50 years, the standard automotive wheel system remained fairly unchanged given their largely effective design which enabled mobility. However, of late, with increased emphasis laid on efficiency wheel design standards are changing. Given the pressure to innovate in other to survive, wheel manufacturers are heading back to the drawing board to design efficient and safe wheel structure. The engineering focus shed on lightweighting is creating string demand for aluminum alloy wheels which are lightweight, stronger with higher heat resistance index. Aluminum wheels also have the perfect balance of performance, cost, aesthetics, and mileage. Few of the major trends influencing growth in the market include continuous material innovation and growing prominence of carbon fiber as a wheel material; expanding base of middle class in Asia and the ensuing rise of automotive consumerism; growing demand for customized aftermarket wheels as car owners eye aesthetics; global pothole epidemic and increase the frequency of wheel/rim replacements in the aftermarket; and rise of 3D printing in wheel design and production. China, Europe and the United States represent large markets worldwide with a combined share of 60.9%. China ranks as the fastest growing market with a 8.3% CAGR over the analysis period supported by the fact that the country remains a cash cow for mass market and premium cars. Also, rising domestic automakers in the country are strongly focused on dominating the world's next era of driving which opens opportunities for innovative component systems and sub-systems.

Select Competitors (Total 127 Featured):
  • Accuride Corporation
  • Alcar Holding Gmbh
  • Borbet GmbH
  • Citic Dicastal Co., Ltd.
  • Enkei Corporation
  • Hitachi Metals Ltd.
  • HRE Performance Wheels
  • Iochpe-Maxion S.A.
  • Mangels Industrial
  • Ronal AG
  • Steel Strips Wheels Ltd.
  • Superior Industries International
  • ThyssenKrupp AG
  • Topy Industries, Ltd.
  • Vossen Wheels
  • Zhejiang Wanfeng Auto Wheel
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • A Review of the Changing Automobile Business Models & the Growing Role of Innovative Component Suppliers
  • Wheel Manufacturers Take Over With Disruptive Innovations that Bring Them to the Fore
  • Exhibit 1: A Large Automotive Components Market Catalyzes the Role of Suppliers & Pushes Up the Importance of Innovation: Global Auto Parts Manufacturing Opportunity (In US$ Billion) for the Years 2017, 2019, 2022, and 2024
  • Exhibit 2: Effervescent Automotive R&D Spending Bodes Well for Innovation-Induced Market Expansion of Wheel Systems: Global Automotive R&D Spending (In US$ Billion) for the Years 2015, 2018 and 2020
  • A Review of the Engineering Importance of Wheel Structure in an Automobile
  • Impact of Covid-19 and a Looming Global Recession
  • Although Beset With Twists, Turns & Bumps, the Generally Healthy Automobile Production Trend to Spur Growth in the OEM Market
  • Exhibit 3: Busy Assembly Line Especially in Asia Keeps the Automotive Supply Chain Well Oiled With New Opportunities: Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • Affluent Middle Class in Asia to Benefit Vehicle Ownership Patterns
  • Exhibit 4: With 64% of the World Middle Class Population by 2030, Asia-Pacific Ranks as an Important Market for Automotive Components: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Exhibit 5: Expanding Base of Middle Class in the Asian Region Sets the Stage for Automotive Consumerism: Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • The Changing Automotive Aftermarket Brings In a Rich Mixture of Opportunities & Challenges for Independent Parts Manufacturers
  • Exhibit 6: Independent Part Suppliers Have Ample Opportunity to Tap in the US$847 Billion Auto Aftermarket: Global Automotive Aftermarket (In US$ Billion) by Region for the Years 2019 & 2030
  • Customized Aftermarket Wheels Grow in Demand as Car Owners Eye Aesthetics
  • Pothole Epidemic Increase the Frequency of Wheel/Rim Replacements in the Aftermarket
  • Engineering Focus Shed on Lightweighting, a Key Trend Driving Material Innovation
  • Exhibit 7: Growing Consumption of Aluminum in Vehicle Manufacturing to Spur Adoption of Aluminium Alloy Wheels: Aluminum Content Per Vehicle (in lbs.) for the Years 2000, 2010, 2019 and 2029
  • Newer Materials Like Alloys to Witness Robust Long-Term Growth
  • With the Fastest Growth, Carbon Fiber is On Course to Achieving Mainstream Adoption
  • 3D Printing to Revolutionize Wheel Design
  • A Review of Major Raw Material Prices
  • Exhibit 8: Increasing Aluminum Prices Squeeze the Margins of Aluminum Wheel Manufacturers: Aluminum Price in US$/Ton for the Years 2015, 2017 and 2019E
  • Exhibit 9: Softening of Steel Prices Due to Slowdown in Infrastructure & Construction Bring Relief to Steel Wheel Manufacturers: Global Hot Rolled Coil (HRC) Steel Prices (In US$ Per Metric Ton) for the Years 2018, 2019 and 2020
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 127
Note: Product cover images may vary from those shown
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