Global Automotive Carbon Wheels Market Anticipated to Generate $1,481.5 Million and Grow at 9.9% CAGR During the 2022-2030 Forecast Timeframe [228-Pages] | Estimated by Research Dive

Automotive carbon wheels market is expected to grow by 2030 due to growing emphasis on improving fuel efficiency & reducing vehicle weight. OEM sub-segment is expected to be highly lucrative. Market in the Europe region to be highly beneficial.

NEW YORK, July 19, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Automotive Carbon Wheels Market by Vehicle Type (Passenger Cars, Commercial Vehicles, and Two Wheelers), Distribution Channel (OEM and Aftermarket), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030".

According to the report, the global automotive carbon wheels market is anticipated to generate a revenue of $1,481.5 million by 2030, growing at a CAGR of 9.9% during the forecast period 2022-2030.

To Breakdown, your Competitors Download an Exclusive PDF Sample of Automotive Carbon Wheels Market

Dynamics of the Automotive Carbon Wheels Market

Drivers: The growing emphasis on reducing vehicle weight and improving fuel efficiency are the prime factors estimated to drive the growth of the global automotive carbon wheels market during the forecast period. In addition, carbon fiber is a composite material that can provide faster acceleration and deceleration, improved suspension, and is extremely lightweight, thus making it a suitable alternative than aluminum wheels. These factors are expected to boost the market growth by 2030.

Opportunities: Increasing demand for luxury vehicles and continuous advancements in the automotive technology are some factors predicted to create ample growth opportunities for the global automotive carbon wheels market by 2030. Moreover, high disposable income of people and economic growth in the developing countries are also projected to boost market development during the analysis years.

Restraints: High initial cost of manufacturing carbon fiber material is the prime factor to impede the market growth.

Covid-19 Impact on the Automotive Carbon Wheels Market

The covid-19 catastrophe has had a negative impact on the global automotive carbon wheels market just like most businesses and industries. To curb the spread of the corona virus, governments across the globe imposed strict lockdowns and travel bans that forced several manufacturing industries to shut down. Moreover, disruptions in supply chains for vital components like semiconductors and others in manufacturing carbon fiber resulted in the reduced sales of automotive in 2020. All these factors are anticipated to decrease the demand for automotive carbon wheels among people.

Checkout why Automotive Carbon Wheels Market demands in Post COVID-19? Get in touch with our Expert Analyst to get more Insights

Segments of the Automotive Carbon Wheels Market

The report has segmented the market into a few segments based on vehicle type, distribution channel, and regional analysis.

• By vehicle type, the passenger cars sub-segment of the global automotive carbon wheels market is estimated to have a dominant market share and generate a revenue of $691.5 million by 2030 due to the rising demand for improving fuel efficiency and reducing the weight of passenger cars by utilizing composite materials like carbon fiber. Moreover, the growing demand for luxury cars among people is boosting the passenger cars' sales, thus propelling the sub-segment's growth during the forecast years.
• By distribution channel, the OEM sub-segment is expected to have a significant growth rate and surpass $828.5 million during the analysis timeframe due to the large-scale production of passenger and commercial vehicles, low replacement rates, and high installation expertise requirements. Moreover, multiple market players have expanded their production plants, thus augmenting the sub-segment's growth by 2030.
• By region, the automotive carbon wheels market in the Europe region is predicted to hold a noteworthy market share and grow at 9.6% CAGR during the 2022-2030 forecast period due to the presence of major auto manufacturers like Mercedes Benz, Audi, BMW, Ferrari, Porsche, etc. Moreover, the growing emphasis on developing light composite materials like carbon fiber for manufacturing automobiles and strategic partnerships and acquisitions by prominent market players are some factors projected to further uplift the market development rate by 2030.

Request an On-demand Customization of Automotive Carbon Wheels Market & Avail of Amazing Discount

Major Automotive Carbon Wheels Market Players

Some major market players are

1. HITACHI METALS, LTD.
2. Phoenix Wheel Company, Inc.
3. Dymag Group Limited
4. ROTOBOX d.o.o.
5. Litespeed Racing LLC
6. ESE Carbon
7. Thyssenkrupp AG
8. Ronal Group
9. Carbon Revolution
10. Rolko Kohlgrüber GmbH

These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. Buy Full Report at $2999 (Read-Only)

For example, in For instance, in May 2022, Ford Motor Company, an American multinational automobile manufacturer, launched its brand-new Ford Mustang Shelby GT500 with carbon-fiber wheels, track tires, and aerodynamic aids. The Mustang also comes with a Recaro seat, a larger rear wing, and a carbon-fiber interior rim. 

The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.

More about Automotive Carbon Wheels Market:

• How are Automotive Carbon Wheels Better Than the Conventional Wheels?
• How Automotive Carbon Wheels Add Purposeful Features to the Vehicles to Experience Enhanced Overall Performance and to Save Energy?
• Product Launches and Strategic Partnerships by Market Players, such as Litespeed Racing, Dymag, and Others to Foster the Growth of the Global Automotive Carbon Wheels Market

Some Trending Article Links:

• The global EV charging infrastructure market forecast will be $18,589.0 million by 2026, increasing from $1,700 million in 2018 at a healthy CAGR of 34.9%
• Global market report on automotive voice command system forecast shall be $4,985.8 million by 2026, growing from $1,208.6 million in 2018 at a healthy rate of 19.4%
• The Global Automotive Switch Market forecast is projected to be $13,602.4 million in the 2021-2028 timeframe, growing from $7,560.0 million in 2020, at a healthy CAGR of 7.8%

About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: [email protected] 
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521

Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg

SOURCE Research Dive