Global Automotive Wheels Aftermarket Market Size, Overview 2021 – 30.
The Global Automotive wheels Aftermarket Market was valued at USD 910.8 Million in 2021, the market is projected to grow USD 1381 Million in 2030, at a CAGR of 5.77 %.
Get a free sample PDF: https://www.sphericalinsights.com/request-sample/1147
Major players in the automotive wheel manufacturing industry, including companies like RONAL Group, Borbet GmbH, Enkei Corporation, and Superior Industries, took significant measures during the COVID-19 pandemic. These measures included suspending wheel sales, distribution, and production in countries such as France, Germany, Italy, and Spain. The decision was driven by a combination of factors, including decreased demand, supply chain disruptions, and a commitment to ensuring the safety of their employees. As the automotive industry grappled with these challenges, manufacturers recognized the importance of adjusting production and sales strategies to prevent bottlenecks and align production with the demand from OEMs (original equipment manufacturers) and Tier 1 suppliers.
In this competitive landscape, safety standards, operational efficiency, productivity, and long-term sustainability take precedence. Competitors within the industry are fiercely vying for the top market position and constantly seeking ways to enhance their competitive edge. Companies are formulating strategic initiatives such as mergers and acquisitions, new product launches, product improvements, and other endeavors to secure a significant market share and establish themselves as socially responsible businesses.
One notable trend in the automotive industry is engine downsizing, aimed at improving efficiency, fuel mileage, and space utilization. Despite these downsizing efforts, vehicle weight has increased in recent years due to the greater adoption of electronic components, particularly Electronic Control Units (ECUs) related to safety and comfort features. Wheel manufacturers have been actively working to reduce wheel weight because heavier wheels can slow down a vehicle’s speed. Lightweight wheels also contribute to increased torque for better vehicle propulsion. Additionally, since turning a wheel requires torque, lighter wheels enhance vehicle control.
The global Automotive Wheels Aftermarket Market is segmented based on various criteria, including Vehicle Type (Passenger Cars and Commercial Vehicles), Aftermarket Type (New Wheel Replacement and Refurbished Wheel Fitment), Material Type (Alloy, Steel, and Others), Product Type (Regular Wheels and High-Performance Wheels), Rim Size (13”–15” inch, 16”–18” inch, 19”–21” inch, and Above 21” inch), and Region (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa).
This comprehensive report on the automotive wheel aftermarket market encompasses a wealth of information on recent developments, trade regulations, import-export analysis, production trends, value chain optimization, market share, the impact of domestic and local market players, emerging revenue opportunities, evolving market regulations, strategic growth analysis, market size, category-specific market growth patterns, niche applications, market dominance, product approvals, product launches, and market dynamics.
List of Key Companies:
- Iochpe-Maxion
- Citic Dicastal Wheel Manufacturing
- Hitachi Metals
- Steel Strips Wheels
- American Eagle Wheels
- Superior Industries
- Cln Group
- Borbet
- Topy Industries
- Accuride Corporation.
- Others
Market segmentation:
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Aftermarket Type
- New Wheel Replacement
- Refurbished Wheel Fitment
By region:
- North America (US, Canada, Mexico)
- Europe (Germany, UK, France, Italy, Spain, Russia, Rest of Europe,)
- Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, and Rest of Middle East & Africa)
Competitive analysis:
The competitive analysis section of the Global Automotive Wheels Aftermarket Market research report provides a detailed study of the competitive landscape within the market. It aims to identify and assess key market players, their strategies, and their impact on overall market dynamics. Each company’s profile provides insight into its business profile, product portfolio, geographic presence, and recent developments. This information helps stakeholders to gain a comprehensive understanding of market participants and their capabilities.
In addition, competitive analysis examines the market share held by each major player and assesses their position within the market. Assessing relative market strength considers factors such as revenue, market capitalization, and market share growth over time. By understanding the distribution of market shares, industry participants can identify key players and their market power.
Browse key industry insights spread across 196 pages with 138 market data tables and figures & charts from the report “Global Automotive Wheels Aftermarket Market Size, Share & Trends, Covid-19 Impact Analysis Report, By Vehicle Type (Passenger Cars, And Commercial Vehicles), By Aftermarket Type (New Wheel Replacement, And Refurbished Wheel Fitment), By Material Type (Alloy, Steel, And Others), By Product Type (Regular Wheels, And High-Performance Wheels), By Rim Size (13”–15” Inch, 16”–18” Inch, 19”–21” Inch, And Above 21” Inch), And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2021 – 2030” in detail along with the table of contents
Access full report: https://www.sphericalinsights.com/reports/automotive-wheels-aftermarket-market
The Global Automotive Wheels Aftermarket Market research report aims to answer the following key questions:
- What are the main products/services offered in the market and how are they evolving to meet changing consumer demands?
- What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
- What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
- What are the price trends in the market, and how do prices change across different product segments and geographies?
- How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
- What are the key cost factors and factors that influence the profitability of companies in the Global Automotive Wheels Aftermarket Market?
- How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
- What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
- How do government policies and regulations impact market dynamics and shape industry strategies?
- What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
- What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
About Newness Insights and Consulting
Newness Insights & Consulting is a dynamic market research and consulting company specializing in delivering valuable market research studies, precise quantitative forecasting, and insightful trend analysis tailored to empower decision-makers. Our forward-looking insights are meticulously crafted to enhance ROI and drive success.
We serve a diverse range of industries, including the financial sector, industrial enterprises, government organizations, universities, non-profit entities, and corporations. Our core mission revolves around collaborating with businesses to not only attain their strategic objectives but also sustain continuous improvement.
CONTACT US:
For more information on your target market, please contact us below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us