The global aluminium alloy wheel market is anticipated to grow at a CAGR of 4.5% during the forecast period (2022-2028). The major factors expected to drive the market growth is the lightweight and corrosion-resistant alloy wheels, environmentally friendly, and also supporting in reducing the weight of the vehicle which further provides more milage. In addition, increasing demand for tough, appealing, and monetarily feasible wheels in vehicles along with tremendously increased demand for efficient vehicles globally are some factors that propel the global aluminium alloy market growth during the forecast period.
Moreover, significant production of vehicles and players adopting new technologies will further boost the growth of the market during the forecast period. Based on coating type segment, the polished alloy wheel is expected to hold potential share in the market as the process involves sanding the wheels due to which wheel surface is completely smooth. Further, a polished lightweight wheel is more common than the chromed /toned lightweight wheel as polishing does not add weight to the wheel.
Some major players in the market include BBS Kraftfahrzeugtechnik AG, Citic Dicastal Co. Ltd., and Wheel Pros LLC, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in December 2020, Eheel Pros LLC announced that the company acquire the wheels & Tires Co., TSW, a leading designer and distributor of proprietary aftermarket custom wheels focused on luxury and offroad markets. With this acquisition, Wheel Pros LLC aims to fuel its market share globally. Furthermore, in March 2021, Ronal Group announced the launch of its new application wheel Ronal R67 which features five narrow spokes and five distinctive double spokes bonded with colorful design elements.
(Get 15% Discount on Buying this Report)
Get Sample Copy of Global Aluminium Alloy Wheel Market at https://orionmarketreports.com/request-sample/?id=105346&submit=Request+Sample%0D%0A
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Sales Channel
- By Coating Type
- By Wheel Size
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- BBS Kraftfahrzeugtechnik AG, Citic Dicastal Co. Ltd., and Wheel Pros LLC, among others.
A full report is available at: https://orionmarketreports.com/global-aluminium-alloy-wheel-market-2/105346/
Global Aluminium Alloy Wheel MarketReport by Segment
Global Aluminium Alloy Wheel MarketReport by Segment
Global Aluminium Alloy Wheel Market Report by Segment
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- After Market
By Coating Type
- Polished Alloy Wheel
- Two-Toned Alloy Wheels
- Others
By Wheel Size
- Compact Size (13 Inch – 16 Inch)
- Mid-Size (17 Inch – 21 Inch)
- Large Size (21 Inches and Above)
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
