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The rising automotive sector is likely to stimulate innovation in the manufacturing of automotive alloy wheels, propelling the market during the forecast period.

The global automotive alloy wheels market is expected to grow from $17.24 billion in 2022 to $18.87 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The global automotive alloy wheels market size is expected to grow to $26.61 billion in 2027 at a CAGR of 9.0%.

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Global Automotive Alloy Wheels Market Segments Include:

• By Finishing Type: Powder Coated Or Painted Lacquered, Diamond Cut, Spilt Wheel, Chrome Wheel, Anodized, Other Finishing Types
• By Material Type: Aluminum Alloy, Titanium Alloy, Magnesium Alloy
• By Wheel Size Type: Compact-Size, Mid-Size, Full-Size
• By Vehicle Type: Passenger Car, Commercial Vehicle
• By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global automotive alloy wheels market in 2021.

Major Market Players in the automotive alloy wheels market include Alcoa Wheels, Arconic Corporation, BBS GmbH, Borbet GmbH, Enkei Corporation, Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Fuel Off-Road Wheels, MAXION Wheels, Ronal Group.

Product improvements are a prevalent trend in the vehicle alloy wheels market. To maintain their market position, major automotive alloy wheel manufactures are offering revolutionary products. For example, in November 2022, Ronal Group, a Swiss business that manufactures automobile alloy wheels, announced a new R70-blue aluminium wheel that is carbon-neutral recycled aluminium. This is being developed in order to generate improvements in the automotive sector that will ensure environmentally friendly wheels with lower greenhouse gas emissions.

The Automotive Alloy Wheels Global Market Report 2023  provides a automotive alloy wheels market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive alloy wheels market forecast analyzes automotive alloy wheels market size, automotive alloy wheels market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Automotive alloy wheels are produced from a blend of alloys such as aluminium and nickel. They are more appealing than steel wheels and are lighter. These can also endure heat and have a better grip.

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