Aluminum Alloy Wheel Market to grow by USD 3.63 billion from 2022 to 2027 | Market is fragmented due to the presence of prominent companies like Accuride Corp., ALCAR HOLDING GMBH and BORBET GmbH, and many more - Technavio

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- The aluminum alloy wheel market is estimated to grow by USD 3.63 billion from 2022 to 2027, growing at a CAGR of 5.49%. The aluminum alloy wheel market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer aluminum alloy wheel market are Accuride Corp., ALCAR HOLDING GMBH, BORBET GmbH, Capricorn Motors Pvt. Ltd, CITIC Ltd., Enkei Corp., Fuel Off Road Wheels, Howmet Aerospace Inc., Image Wheels International Ltd, Lizhong group, MAXION Wheels, Minda Industries Ltd., RONAL AG, Shanghai Metal Corp., Topy Industries Ltd., Toyota Motor Corp., Wanfeng Group Co. Ltd., Wheel Pros LLC, WIL Car Wheels Ltd., and Zhejiang Yueling Co. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying

Company Offering:

• Accuride Corp. - The company offers aluminum wheels such as Accu Lite aluminum wheels and accurides duplex one wheels.
• ALCAR HOLDING GMBH - The company offers aluminum alloy wheels namely AEZ, DOTZ, DEZENT, and DOTZ SURVIVAL through its brands.
• BORBET GmbH - The company offers aluminum alloy wheels such as Borbet A, Borbet AE, Borbet ATX, Borbet B, and Borbet BY.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as Europe, APAC, North America, South America, and Middle East and Africa. APAC will have the largest share of the market. APAC will contribute 41% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors is Europe, with major contributions from countries such as Germany, France, Italy, Spain, and the UK. Stringent environmental regulatory norms including the Commission Regulation (EU) 2019/318 and Commission Regulation (EU) 2018/1832 force automakers to use advanced automotive parts. Various market players provide aluminum alloy wheels to vehicle manufacturers to minimize the weight of their vehicles. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Adoption of improved emission standards
• Key Trend - Advent of carbon fiber alloy wheels
• Major Challenges - Advantages of substitutes such as steel wheels

 Market Segmentation

• The PC segment will contribute the largest share of the market. The growing adoption of aluminum alloy wheels by automakers due to their several benefits such as higher fuel efficiency and aesthetic appeal. There is an increasing focus by several vehicle manufacturers to provide better quality products. The products include aluminum alloy wheels in all passenger cars due to the changing consumer needs in the automotive industry.

Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report

Related Reports:
The automotive steel wheels market size is expected to increase by 33.92 million units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.79%.

The mechanical connectors market size is estimated to grow at a CAGR of 5.54% between 2022 and 2027. The market size is forecast to increase by USD 4.46 billion.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio