High Performance Wheels Market Opportunities and Competitive Landscape Outlook to 2026
Global high performance wheels market forecast will be majorly driven by robust demand for premium vehicles around the world. Aesthetics and performance are the two most crucial factors defining automotive wheels. Manufacturers are introducing newer, more efficient range of products with superior designs, innovative new looks and best-in-class quality.
For instance, Wheel Pros LLC had launched the upgraded version of the KMC Wheels Rockstar, called the Rockstar III which enables customers to customize their wheels based on their needs and preferences using off-shelf accessories.
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Wheels are generally not considered cost-effective until they achieve more than 65% capacity utilization. Manufacturing of high performance wheels is not labor exhaustive. However, raw materials and energy costs constitute a significant fraction of the overall manufacturing cost. Weight reduction is an excellent way to cut costs and boost performance of automotive wheels.
Implementation of more light-weight wheels in turn increases transport costs which becomes a critical factor to be considered especially while transporting over long distances. The overall investment cost in production of high performance wheels is not high but still quite significant. Increased focus to achieve weight reduction and enhancing the aesthetic appeal of vehicles will positively impact high performance wheels market size.
There is a strong demand for premium compact vehicles as well as sports and luxury cars especially from emerging markets. Consequently, the demand and adoption of high performance wheels and their consumption per vehicle has significantly increased mainly due to shifting consumer preferences towards latest style trends.
Growing demand for premium vehicles and strong economic growth and development in various regions including GCC countries and Turkey on account of increased purchasing powers of consumers is likely to render positive impact on the market. Raw materials such as aluminum and magnesium which are required to manufacture automotive wheels are abundantly available across the globe. In addition, easy access to funds and cheap availability of natural gas will open up ample opportunities for high performance wheel manufacturers.
Regions such as the Middle-East and Africa (MEA), which are extremely important markets for high performance wheels, have witnessed slowing economic growth in recent times. However, favorable initiatives and efforts from the government to develop the private sector is expected to stabilize the economy up to certain extent, which should augment the market share over the analysis timeline.
The demand for premium cars is particularly high in developing regions such as China and India where consumers are preferring premium vehicle over entry level vehicles. In fact, the premium compact segment in India sold close to 408,000 units, more than entry level cars during 2018.
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Partial Chapter of the Table of Content
Chapter 5 High Performance Wheels Market, By Vehicle
5.1 Global high performance wheels volume share by vehicle, 2018 & 2026
5.2 Premium compact segment
5.2.1 Global market estimates & forecast from premium compact segment, 2016-2026
5.2.2 Global high performance wheels market estimates & forecast from premium compact segment, by region, 2016-2026
5.3 Entry-level luxury segment
5.3.1 Global market estimates & forecast from entry-level luxury segment, 2016-2026
5.3.2 Global high performance wheels market estimates & forecast from entry-level luxury segment, by region, 2016-2026
5.4 Mid-size luxury segment
1 Industry segmentation
FIG. 2 Global high-performance wheels volume and revenue, (Million Units) (USD Million), 2018 - 2026
FIG. 3 High performance wheels market ecosystem analysis
FIG. 4 Average Regional Pricing, 2016-2026 (Per Piece)
FIG. 5 Cost structure analysis, 2018
FIG. 6 Labor compensation cost, 2018 (USDhour)
FIG. 7 Growth potential analysis
FIG. 8 Porter’s analysis
FIG. 9 Global company market share analysis, 2018
FIG. 10 PESTEL analysis
FIG. 11 High performance wheels market volume share by material, 2018 & 2026
FIG. 12 High performance wheels volume share by vehicle, 2018 & 2026
FIG. 13 High performance wheels volume share by end-use, 2018 & 2026
FIG. 14 High performance wheels market volume share by region, 2018 & 2026
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