Automotive Wheel Market is projected to rise at a moderate CAGR during the forecast period from 2021 to 2027. Post-COVID-19, the market will be driven by the increasing automobile production & sales, advancement in tire manufacturing technology, and the rise in competition among tire manufacturers. Besides, the demand for next-generation high-performance tires is growing due to the less noise and long durability provided by these tires, which, in turn, further drive the growth of the market. Furthermore, cohesive government initiatives to improve road safety are also anticipated to fuel the market growth in the future years. Wheels are an essential part of automobiles that are directly connected to the automobile industry. The wheels must be strong enough to support the weight of the vehicle and withstand the forces resulting from the operation.
However, fluctuating price of raw material, and chances of accident due to tire bursting are the major concern for the market. Continuous development by the major market players in the manufacturing technology & material and investment for the manufacturing of new plants are also expected to provide an opportunity for market growth in the near future. The key players of the market are Bridgestone Corp., The Goodyear Tire & Rubber Co., Continental AG, Michelin Group, Hankook Tire & Technology Co., Ltd, Sumitomo Rubber Industries, Pirelli & C. S.p.A., The Yokohama Rubber Co., Ltd, and other.
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A full report of Global Automotive Wheel Market is available at: https://www.orionmarketreports.com/automotive-wheel-market/58064/
The following Segmentation are covered in this report:
By Material
- Aluminum
- Steel Wheels
- Magnesium
- Carbon Fiber
By Product
- Regular
- High Performance
By End-User
- OEM
- Aftermarket
By Region
North America:
- US
- Canada
Europe:
- France
- Italy
- Germany
- UK
- Rest of Europe
Asia Pacific:
- India
- China
- Japan
- Australia
- Rest of APAC
The report covers the following objectives:
- Proliferation and maturation of trade in the global Automotive Wheel Market.
- The market share of the global Automotive Wheel Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Automotive Wheel Market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Automotive Wheel Market.
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
