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Middle East & Africa Automotive Steel Wheels Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Rim Size, Vehicle Type, and End User

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    Report

  • May 2021
  • Region: Africa, Middle East
  • The Insight Partners
  • ID: 5331792
The automotive steel wheels market in MEA is expected to grow from US$ 132.71 million in 2020 to US$ 167.13 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021–2028. Steel wheels still finds application under heavy load carrying vehicles such as commercial vehicle. Medium and heavy-duty trucks (M&HDT) ranging from class 3 to 8 generally use steel wheels as they have a higher rated weight carrying capacity than alloy wheels. Alloy wheels are not a good choice where gross vehicle weight rating (GVWR) is above 6 tons. These vehicles still use an Internal Combustion Engine (ICE) as their preferred powertrain. However, with the advancement of battery technology with higher power output and the development of Solid-State Battery (SSB), it is expected that electric powertrain would come into mainstream by 2028 for medium and heavy commercial vehicles. Thus, during the forecast period, it is expected to offer lucrative opportunities for steel wheels market to penetrate into the electric commercial vehicle spectrum. The flourishing demand for lightweight steel wheels is among the other factors propelling the demand for automotive steel wheels.

Among Middle East and Africa countries, Iran reported the highest number of COVID-19 confirmed cases, which impacted the growth of industries. Iran, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait are among the major countries facing the economic impact of the outbreak. Due to lesser maritime trade and limited business in the shipping industry happened in the first quarter of 2020, the trend of unmanned ships and navigation has disturbed slightly. This factor has affected the growth of the automotive steel wheels market in Middle East and Africa.

The overall MEA automotive steel wheels market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the MEA automotive steel wheels market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the MEA automotive steel wheels market. Topy Industries limited, Steel Strips Wheels limited, Klassic Wheels Ltd., and IOCHPE-MAXION SA are among the players operating in the market.

Reasons to Buy

  • To understand the MEA Automotive Steel Wheels Market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA Automotive Steel Wheels Market
  • Efficiently plan M&A and partnership deals in MEA Automotive Steel Wheels Market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA Automotive Steel Wheels Market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.

Table of Contents

1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Automotive Steel Wheels Market - By Rim Size
1.3.2 Automotive Steel Wheels Market - By Vehicle Type
1.3.3 Automotive Steel Wheels Market - By End User
1.3.4 MEA Automotive Steel Wheels Market - By Country
2. MEA Automotive Steel Wheels Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Automotive Steel Wheels - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Middle East & Africa PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Automotive Steel Wheels Market- Industry Dynamics
5.1 Market Drivers
5.1.1 Flourishing Demand for Lightweight Steel Wheels
5.1 Market Restraints
5.1.1 Escalating Popularity of Alloy Wheels
5.2 Market Opportunities
5.2.1 Endorsement of Steel Wheels in Electric Power Vehicles
5.3 Future Trends
5.3.1 Technological progress in Manufacturing of Automotive Wheels
5.4 Impact analysis
6. Automotive Steel Wheels Market - MEA Analysis
6.1 MEA Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
7. MEA Automotive Steel Wheels Market Analysis and Forecast to 2028 - by Rim Size
7.1 Overview
7.2 MEA Automotive Steel Wheels Market, by Rim Size, 2020 & 2028 (% Share)
7.3-15 Inches
7.3.1 Overview
7.3.2-15 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.4-18 Inches
7.4.1 Overview
7.4.2-18 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.5-21 Inches
7.5.1 Overview
7.5.2-21 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.6 More than 21 Inches
7.6.1 Overview
7.6.2 More than 21 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8. MEA Automotive Steel Wheels Market Analysis and Forecast to 2028 - Vehicle Type
8.1 Overview
8.2 MEA Automotive Steel Wheels Market, by Vehicle Type, 2020 & 2028 (% Share)
8.3 Heavy Commercial Vehicle
8.3.1 Overview
8.3.2 Heavy Commercial Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Light Commercial Vehicle
8.4.1 Overview
8.4.2 Light Commercial Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Passenger Vehicle
8.5.1 Overview
8.5.2 Passenger Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9. MEA Automotive Steel Wheels Market Analysis and Forecast to 2028 - End User
9.1 Overview
9.2 MEA Automotive Steel Wheels Market, by End User, 2020 & 2028 (% Share)
9.3 OEM (Original Equipment Manufacturers)
9.3.1 Overview
9.3.2 OEM: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Aftermarket
9.4.1 Overview
9.4.2 Aftermarket: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
10. MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 Country Analysis
10.1 MEA: Automotive Steel Wheels Market
10.1.1 MEA: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2 MEA: Automotive Steel Wheels Market, By Country
10.1.2.1 South Africa: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 South Africa: Automotive Steel Wheels Market, By Rim Size
10.1.2.1.2 South Africa: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.1.3 South Africa: Automotive Steel Wheels Market, By End User
10.1.2.2 Saudi Arabia: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 Saudi Arabia: Automotive Steel Wheels Market, By Rim Size
10.1.2.2.2 Saudi Arabia: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.2.3 Saudi Arabia: Automotive Steel Wheels Market, By vehicle type
10.1.2.3 UAE: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 UAE: Automotive Steel Wheels Market, By Rim Size
10.1.2.3.2 UAE: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.3.3 UAE: Automotive Steel Wheels Market, By End User
10.1.2.3.4 UAE: Automotive Steel Wheels Market, By Platform
10.1.2.4 Rest of MEA: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.4.1 Rest of MEA: Automotive Steel Wheels Market, By Rim Size
10.1.2.4.2 Rest of MEA: Automotive Steel Wheels Market, By Vehicle Type
11. Impact Of COVID-19 Pandemic on MEA Automotive Steel Wheels Market
11.1 Middle East and Africa: Impact Assessment Of COVID-19 Pandemic
12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Product News
12.3 Partnerships & Collaboration
13. Company Profiles
13.1 TOPY INDUSTRIES LIMITED
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 STEEL STRIPS WHEELS LIMITED
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Klassic Wheels Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 IOCHPE-MAXION SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Glossary of Terms
List of Tables
Table 1. Automotive Steel Wheels Market - Revenue and Forecast to 2027 (US$ Million)
Table 2. South Africa Automotive Steel Wheels Market, by Rim Size - Revenue and Forecast to 2028 (USD Million)
Table 3. South Africa Automotive Steel Wheels Market, by Vehicle Type - Revenue and Forecast to 2028 (USD Million)
Table 4. South Africa Automotive Steel Wheels Market, by End User - Revenue and Forecast to 2028 (USD Million)
Table 5. Saudi Arabia Automotive Steel Wheels Market, by Rim Size - Revenue and Forecast to 2028 (USD Million)
Table 6. Saudi Arabia Automotive Steel Wheels Market, by Vehicle Type - Revenue and Forecast to 2028 (USD Million)
Table 7. Saudi Arabia Automotive Steel Wheels Market, by End User - Revenue and Forecast to 2028 (USD Million)
Table 8. U.A.E. Automotive Steel Wheels Market, by Rim Size - Revenue and Forecast to 2028 (USD Million)
Table 9. U.A.E. Automotive Steel Wheels Market, by Vehicle Type - Revenue and Forecast to 2028 (USD Million)
Table 10. U.A.E. Automotive Steel Wheels Market, by End User - Revenue and Forecast to 2028 (USD Million)
Table 11. U.A.E. Automotive Steel Wheels Market, by End-User - Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of MEA Automotive Steel Wheels Market, by Rim Size - Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of MEA Automotive Steel Wheels Market, by Vehicle Type - Revenue and Forecast to 2028 (USD Million)
Table 14. Glossary of Terms, Automotive Steel Wheels Market
List of Figures
Figure 1. MEA Automotive Steel Wheels Market Segmentation
Figure 2. MEA Automotive Steel Wheels Market - By Country
Figure 3. MEA Automotive Steel Wheels Market Overview
Figure 4.-15 Inch Rim Size Segment Held Largest Share of MEA Automotive Steel Wheels Market in 2020
Figure 5. MEA Automotive Steel Wheels Market in South Africa Region to Show Remarkable Growth During Forecast Period
Figure 6. MEA Automotive Steel Wheels Market, By Country (US$ Million)
Figure 7. Middle East & Africa: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. MEA Automotive Steel Wheels Market Impact Analysis of Driver and Restraints
Figure 11. Automotive Steel Wheels Market - Revenue and Forecast to 2027 (US$ Million)
Figure 12. MEA Automotive Steel Wheels Market, By Rim Size, 2020 & 2028 (% Share)
Figure 13.-15 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 14.-18 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 15.-21 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 16. More than 21 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 17. MEA Automotive Steel Wheels Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 18. Heavy Commercial Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Light Commercial Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Passenger Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. MEA Automotive Steel Wheels Market, By End User, 2020 & 2028 (% Share)
Figure 22. OEM: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Aftermarket: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. MEA: Automotive Steel Wheels Market Revenue Share, By Country (2020 and 2028)
Figure 25. South Africa: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Saudi Arabia: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. UAE: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of MEA: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Impact Of COVID-19 Pandemic in Middle East and Africa Countries Market

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Topy Industries limited
  • Steel Strips Wheels limited
  • Klassic Wheels Ltd.
  • IOCHPE-MAXION SA

Table Information