Alloy Wheel Trends and Forecast
The future of the global alloy wheel market looks promising with opportunities in the passenger vehicle and commercial vehicle markets. The global alloy wheel market is expected to reach an estimated $24.2 billion by 2030 with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are increasing demand for lightweight vehicles, rising consumer preference for personalized vehicles, and growing automotive industry.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Alloy Wheel by Segment
The study includes a forecast for the global alloy wheel by type, material type, vehicle type, and region.
Alloy Wheel Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Forging
• Casting
• Others
Alloy Wheel Market by Material Type [Shipment Analysis by Value from 2018 to 2030]:
• Magnesium Alloy
• Aluminum Alloy
• Titanium Alloy
Alloy Wheel Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:
• Passenger Vehicle
• Commercial Vehicle
Alloy Wheel Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Alloy Wheel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies alloy wheel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the alloy wheel companies profiled in this report include-
• BORBET
• Fuel Off-Road Wheels
• TSW Alloy Wheels
• Stamford Sport Wheels
• CITIC Dicastal Wheel Manufacturing
• Superior Industries
• Steel Strips Wheels
• RONAL GROUP
• Enkei Corporation
• MAXION Wheels
Alloy Wheel Market Insights
Lucintel forecasts that forging is expected to witness the higher growth over the forecast period.
Within this market, passenger vehicle is expected to witness the higher growth over the forecast period.
APAC is expected to witness highest growth over the forecast period.
Features of the Global Alloy Wheel Market
Market Size Estimates: Alloy wheel market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Alloy wheel market size by type, material type, vehicle type, and region in terms of value ($B).
Regional Analysis: Alloy wheel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, material types, vehicle types, and regions for the alloy wheel market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the alloy wheel market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the alloy wheel market size?
Answer: The global alloy wheel market is expected to reach an estimated $24.2 billion by 2030.
Q2. What is the growth forecast for alloy wheel market?
Answer: The global alloy wheel market is expected to grow with a CAGR of 5.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the alloy wheel market?
Answer: The major drivers for this market are increasing demand for lightweight vehicles, rising consumer preference for personalized vehicles, and growing automotive industry.
Q4. What are the major segments for alloy wheel market?
Answer: The future of the alloy wheel market looks promising with opportunities in the passenger vehicle and commercial vehicle markets.
Q5. Who are the key alloy wheel market companies?
Answer: Some of the key alloy wheel companies are as follows:
• BORBET
• Fuel Off-Road Wheels
• TSW Alloy Wheels
• Stamford Sport Wheels
• CITIC Dicastal Wheel Manufacturing
• Superior Industries
• Steel Strips Wheels
• RONAL GROUP
• Enkei Corporation
• MAXION Wheels
Q6. Which alloy wheel market segment will be the largest in future?
Answer: Lucintel forecasts that forging is expected to witness the higher growth over the forecast period.
Q7. In alloy wheel market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the alloy wheel market by type (forging, casting, and others), material type (magnesium alloy, aluminum alloy, and titanium alloy), vehicle type (passenger vehicle and commercial vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Alloy Wheel Market, Alloy Wheel Market Size, Alloy Wheel Market Growth, Alloy Wheel Market Analysis, Alloy Wheel Market Report, Alloy Wheel Market Share, Alloy Wheel Market Trends, Alloy Wheel Market Forecast, Alloy Wheel Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.