The Global Automotive Wheel Market Report by The Business Research Company covers automotive wheel market drivers and restraints, automotive wheel market size, major players, and the impact of COVID-19 on the automotive wheel market.
The automotive wheel market consists of sales of automotive wheels by entities (organizations, sole traders, and partnerships) that manufacture automotive wheels. The wheel is an essential component of every vehicle. It counteracts all of the forces that the vehicle is subjected to during operation, balancing the entire weight of a vehicle. A spoke, rim, and hub are essential parts of an automobile wheel. It is responsible for turning, operating, and directing the direction and speed of the vehicle.
The global automotive wheel market is expected to grow from $29.37 billion in 2020 to $30.41 billion in 2021 at a compound annual growth rate (CAGR) of 3.5%. The growth in the automotive wheel market is mainly due to the growing demand for vehicles fueled by growing urbanization. The market is expected to reach $44.28 billion in 2025 at a CAGR of 9.8%.
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Some automotive wheel market trends include advancements in technology. Major players operating in the sector of the automotive wheel are focused on developing technologically advanced solutions for automotive wheels to strengthen their position in the industry.
Global automotive wheel market segments include:
1) By Material: Steel, Alloy, Carbon Fiber, Others
2) By Vehicle Class: Economy, Mid-Priced, Luxury-Priced
3) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
4) By Rim Size: 13-15″, 16″-18″, 19″-21″, Above 21″
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific accounts for the largest global automotive wheel market share.
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The Automotive Wheel Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides automotive wheel market overviews, analyzes and forecasts market size, share, automotive wheel market players, automotive wheel market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The automotive wheel identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Automotive Wheel Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: IOCHPE Maxion, Superior Industries International, Accuride Corporation, Steel Strips Wheels, Hitachi Metals, Citic Dicastal, Zhejiang Wanfeng Auto Wheel, Borbet, Mangels Industrial, Mefro Wheels, Ronal Group, CLN Group, Wanfeng Auto Holding Group, Foshan Nanhai Zhongnan Aluminum Wheel Co, and Super Alloy Industries.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Automotive Wheel Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Automotive Wheel Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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