Automotive Alloy Wheels Market 2018 Global Outlook to 2023 Research Report

Posted by Abhijeet Bendre on October 22nd, 2018

Automotive Alloy Wheels Market 2018 Global Industry Analysis To 2023 is new research report, published by "Market Research Future". Automotive Alloy Wheels Market is segmented by finishing type (Polished alloy wheel, Two-toned allay wheel and Others), By Wheel type (Compact-size, Mid-size, Full-size), By application (Passenger cars, Commercial vehicles and Two wheelers) and Region - Forecast 2017-2023.

The major player operating in the market of global automotive alloy wheel are Euromax Wheel (U.S.), MHT Luxury Wheels (U.S.), Status Wheels, Inc. (U.S.), Wheel Pros, LLC (U.S.), Fuel Off-Road Wheels (U.S.), SOTA Offroad (U.S.), Enkei Wheels India Ltd.(India), Ronal AG (Switzerland), Uniwheels (Switzerland) and BBS Kraftfahrzeugtechnik AG (Germany)

Automotive Alloy Wheels Market Insights:

Steel and alloy wheels are the two most common types of wheels used in cars. Automotive alloy wheel is made up of alloy of light metals such as aluminum, nickel and others. Alloy wheels are stronger and lighter than steel and they also improve the appearance of the car. Consumers are becoming more conscious about the external styling of the vehicles and better riding quality, which is pushing the market towards growth. Easy acceleration of the car, growing disposable income, improved driving experience and lower cost are some of the driving factors of the automotive Alloy Wheel market.

Asia-Pacific market is dominating the market of automotive alloy wheel market due to growth in automotive sector. Large demand and production of automobiles, development of automotive manufacturing industries in developing economies such as China and India are driving the market for automotive alloy wheel market. Features such as weight reduction, and better handling of vehicles help in the market growth. The increased preference for external styling and customization are pushing the market towards growth. The market in developing countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output.

Growth in the automobile industry and growing trend of vehicle customization is also aiding to the growth of automotive alloy wheel market. However, alloy wheels are more pricey than steel wheels. This is one of the factors, which is hampering the expansion of the market in countries with massive pools of price-sensitive consumers. Countries such as India and Indonesia have large population but these countries have still not given into the trend of automotive alloy wheels yet. Price is a major factor influencing the market’s growth. Alloys are generally made up of metals and other elements, so, hike in price of metals such as iron or aluminum impacts the market negatively. Periodic changes in government guidelines, advancements in technology and environmental codifications also pose challenges to the market.

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Abhijeet Bendre

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Abhijeet Bendre
Joined: February 20th, 2018
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