Latest industry analysis by Fact MR, predicts sales of Automotive Metal Wheel to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.
The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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The report offers actionable and valuable market insights of Automotive Metal Wheel. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Metal Wheel Market across various industries and regions.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Metal Wheel market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Metal Wheel
This newly published and insightful report sheds light on Market Insights of Automotive Metal Wheel, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Metal Wheel Market.
Fact.MR’s comprehensive report on the global automotive metal wheel market, provides critical insights on the key players and their future market strategies likely to define the further course of the market.
Fact.MR envisages that product innovations and new product launches will remain the most prominent strategy in the highly fragmented global automotive metal wheel market, to broaden the scope of their product offerings and reach to a more consumers.
Owing to the significant market shift from steel wheels to aluminum wheels, Maxion Wheels recently laid the foundation for a new aluminum wheel plant in Pune, India to specifically cater to the growing demand for aluminum wheels in the region.
Riding the aluminum wheels wave, Chinese wheel manufacturer CITIC Dicastal is said to build two aluminum wheels factories in Morocco, with an investment of 350 million euros. Iochpe-Maxion, CITIC Dicastal, Borbet, Superior Industries, Accuride, and Jingu Group are some key companies profiled by Fact.MR in its report on global automotive metal wheel market.
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Factors Fuelling Global Market Growth
Increasing demand for high-speed and light weight vehicles has pulled down demand for metal wheels among automotive manufacturers. Attributed to heavy weight, the vehicles that are equipped with metal wheel have relatively low grip on brakes. Moreover, the vehicles with metal wheels cannot support tires that are tubeless. As metal wheels are subject to rust and corrosion attributed to fluctuating weather, manufacturers prefer using materials such as alloy wheels that are lighter in weight.
Manufacturers based in countries with cold weather witness considerable demand for metal wheels in the automotive sector. Attributed to features such as heavy weight, dampened acceleration and speed, it is easier to drive vehicles equipped with wheels with heavy metal materials as there is lower possibility of skidding. Vehicles equipped with alloy wheels provides relatively fast acceleration and speed, which has more possibility of skidding in snow or hail. Such factors are projected to fuel demand for metal wheels in the automotive industry during the projected period.
Moreover, several automotive companies particularly use metal wheels that are heavy in weight. Due to such factors, the OEM are projected to witness considerable demand. This is projected to contribute towards global market growth of automotive metal wheel during the projected period.
Aftermarket to Register Significant Growth
Aftermarket is projected to witness a relatively high growth in revenue terms in the global market of automotive metal wheel by the end of 2017. This segment is projected to reflect a relatively high CAGR in the market globally throughout 2022. The aftermarket segment is projected to represent a value of over US$ 18,000 Mn by 2017. OEM among other sales channel is projected to witness significant revenue growth followed by the aftermarket segment in the global market of automotive metal wheel in 2017.
Steel wheel among other materials is projected to represent a value of around US$ 11,000 Mn in the global market of automotive metal wheel. This segment is projected to reflect a relatively high growth in revenue terms in the global market by the end of 2022. Steel wheel is projected to reflect a relatively high CAGR in the market globally, followed by aluminum alloy wheel throughout 2022.
Mid-sized passenger cars and light-weight commercial vehicles is projected to reflect a CAGR growth at parallel pace in the global market. Luxury car is projected to reflect a relatively high CAGR growth throughout 2022. In revenue terms, the commercial passenger car segment is projected to represent more than US$ 85,000 Mn by 2022–end.
Casting among other technologies is projected to reflect a relatively high revenue growth by 2017 – end. This segment is projected to represent a value of more than US$ 19,000 Mn by 2017. Casting technology among others is projected to reflect a relatively high CAGR growth through 2022. Forging is projected to reflect a significant revenue growth after casting technology segment by 2017.
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Report Benefits & Key Questions Answered
- Automotive Metal Wheel Company & brand share analysis: The report offers in-depth Automotive Metal Wheel brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
- Automotive Metal Wheel Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Metal Wheel and projected sales performance for 2021-2031
- Automotive Metal Wheel Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
- Automotive Metal Wheel Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
- Post COVID consumer spending on Automotive Metal Wheel: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
More Valuable Insights on Automotive Metal Wheel Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Metal Wheel, Sales and Demand of Automotive Metal Wheel, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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