OCEAN VIEW, Delaware,
June 29, 2017 /PRNewswire/ --
The 2017 - 2024 automotive wheels market research report by
Global Market Insights, Inc. says increasing investments on budget
cars by OEM's in emerging countries will drive the industry growth,
along with factors such as advancement in technology, tax
incentives along with rise in sales of passenger cars.
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The research report "Automotive Wheel Market Size By
Material (Aluminum, Steel, Magnesium, Carbon Fiber), By Product
(Regular, High Performance), By End-Use (OEM, Aftermarket), By
Vehicle (Passenger Cars, Lightweight Commercial Vehicles, Heavy
Trucks, Buses & Coaches, Trailers), Industry Analysis Report,
Regional Outlook (U.S., Canada,
Germany, UK, France, Spain, Italy,
Russia, Czech Republic, Poland, Slovakia, Turkey, China, India,
Japan, South Korea, Malaysia, Thailand, Indonesia, Australia, Philippines, Vietnam, Brazil, Argentina, Mexico, Colombia, Iran, South
Africa, Morocco,
Egypt, Algeria), Application Potential, Price Trend,
Competitive Market Share & Forecast, 2017 -
2024" by Global Market Insights, Inc. says Automotive
Wheel Market share is slated to reach USD
91.6 billion by 2024.
Shift in consumer preference on improved driving including
enhanced acceleration, quick braking and better performance will
support the automotive wheel market growth. Necessity to enhance
fuel efficiency due to increasing emission standards will remain
key factors driving product demand.
Request for a sample of this research report
@ https://www.gminsights.com/request-sample/detail/1706
Enhanced promotions on budget cars by manufacturers will create
new opportunities in the forecast year. Global automotive industry
witnessed significant growth with vehicle production over 95
million units in 2016.
Regular automotive wheels contribute for over 90% of overall
industry share in 2016. Strong demand for cost effective passenger
cars and commercial vehicles are expected to propel the industry
growth. Technological advancement accompanied by rising demand for
corrosion resistance components will drive automotive wheel
demand.
Introduction of online portals for vehicle component sales at
reasonable price will impact automotive wheel price trend.
Stringent regulations on carbon emissions encouraged the OEMs to
manufacture lightweight vehicles. High initial investment along
with low adoption of the high-performance products may restrain the
industry growth.
Passenger cars dominated the overall automotive wheel industry
share accounting for more than 80% in 2016. China is among the key contributors with over
24 million units passenger car production in 2016.
Aluminum automotive wheel market will value over USD 76 billion by 2024. Lightweight and
innovative designs delivering higher performance is expected to
drive product demand. Steel market size is driven by competitive
pricing and convenient manufacturing process.
Browse key industry insights spread across 270 pages with 387
market data tables & 13 charts & figures from this 2017
report Automotive Wheel Market in detail along with the
table of contents at:
https://www.gminsights.com/industry-analysis/automotive-wheel-market
Trailer market will observe growth over 2.5% through 2024. Road
transportation industry expansion due to limited railway network
particularly in Nordic countries will drive product demand. In
addition to this, improved aftersales services to customers will
drive the overall industry growth.
OEM automotive wheels market registered over 368 million units
demand in 2016. Development in internal combustion engine with
introduction of V2V technology are the factors driving the industry
demand. Increasing vehicle customization and component replacement
due to increasing accident, corrosion and scratches will propel the
aftermarket industry.
The U.S. automotive wheel market was worth over USD 10 billion in 2016. Stringent vehicle safety
norms associated to efficient braking system will stimulate product
demand.
Asia Pacific automotive wheel
market, led by China, India and Japan will witness growth over 5% up to 2024.
Increasing manufacturing facilities owing to favorable government
policies and availability of resources will propel the regional
demand. The region expects high growth in buses and coaches segment
due to rising government focus on better transportation
services.
Global industry share is fragmented in nature with presence of
substantial number of domestic players. Key industry players in
terms of revenue generation and geographical presence in the
automotive wheels market include Magnetto, Ronal Group, Enkei, UNI
Group, Borbet, Alcoa, Maxion and Mefro. Other manufacturers include
Saint Jean, Alcar, Fondmetals, Otto
Fuchs, HRE and Breyton.
Make an inquiry for purchasing this report @
https://www.gminsights.com/inquiry-before-buying/1706
Browse Related Reports:
- High Performance Wheels Market Size 2017 -
2024
High Performance Wheels Market size was more than USD 11 billion in 2016 and is set to surpass 60
million units by 2024. Rising demand for luxury vehicles, sports
and premium compact vehicles will propel the industry growth.
Rolls-Royce, the premium luxury cars have witnessed increased
sales, registered for more than 4,000 unit sales in 2016. Shift in
automotive trends towards weight reduction, fuel efficiency and
vehicle customization will drive the high performance wheels market
growth.
https://www.gminsights.com/industry-analysis/high-performance-wheels-market
- Automotive Multi Wheel Drive (AWD) Systems Market Size
2016 - 2024
Automotive Multi-Wheel Drive Systems Market size is expected to
grow at 8% CAGR from 2016 to 2024. The need to alleviate the rising
automobile accidents and reduce the impact of crashes on the driver
and passengers has led to the development of Multi Wheel Drive
(MWD) or All Wheel Drive (AWD) systems. Major players are Borg
Warner Inc, Continental AG, ZF Friedrichshafen AG, JTKT
Corporation, Magna International Inc. Other players include
American Axle Manufacturing, Eaton Corporation, GKN Plc, Dana
Holding Corporation, Oerlikon Inc, Mitsubishi Motors.
https://www.gminsights.com/industry-analysis/automotive-multi-wheel-drive-awd-systems-market
About Global Market Insights
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