North America Automotive Wheel Market is Expected to Record CAGR of 6% By 2026
Category: #business  By Ronak Bora  Date: 2021-09-23
  • share
  • Twitter
  • Facebook
  • LinkedIn
North America Automotive Wheel Market is Expected to Record CAGR of 6% By 2026

North America automotive wheel market is anticipated to record a CAGR of 6% through 2026. This can be attributed to the presence of numerous wheel manufacturers such as Wheel Pros and U.S. Wheel Corporation, among others. These market players are entering acquisition deals to strengthen the regional presence. For example, Superior Industries acquired Uniwheels AG in March 2017, with 61% shares under its ownership.

Get sample copy of this research report @   https://www.decresearch.com/request-sample/detail/1706

The automotive wheel industry is witnessing a significant shift in consumer preferences to customized wheels, which in turn, will impel aftermarket growth. Additionally, manufacturers are emphasizing on conforming their products to the OEM standards while ensuring functionality and reliability. Rising improvement of economic conditions in emerging and developed nations is projected to propel the automotive wheel market expansion, owing to proliferating automotive demand.

In terms of segmentation by vehicle, the global automotive wheel market from the heavy trucks segment is likely to observe a burgeoning demand stemming from rapid urbanization and industrialization over the predicted timeframe. Changing consumer preferences, alongside material development that provides high load-bearing capacities are anticipated to bolster the automotive wheels’ demand for heavy commercial vehicles.

With regards to the material spectrum, the carbon fiber segment is poised to register a CAGR of nearly 6% through 2026, owing to high stiffness, tensile strength, and reduced weight. As compared to aluminum wheels, automotive wheels from the carbon fiber segment offer consistent performance, enhanced braking, & acceleration. The global automotive wheel market size is expected to exceed $120 billion by 2026.

Rising demand for corrosion resistant and lightweight wheels is likely to boost the global automotive wheel market outlook over the forecast spell. Manufacturers are increasingly focusing on innovations to reduce downtime, improve performance, and produce cost-effective vehicles. On the other hand, the demand for premium and luxury vehicles is also witnessing a major upsurge, which will contribute to the rising popularity of the product.

Major automotive wheel industry participants include Borbet GmbH, Zhejiang Wanfeng Auto Wheel, Topy Industries Ltd., Ronal Group, and Maxion Wheels, among others. Key growth strategies adopted by these industry players are portfolio expansion and product innovation. They are focusing on enhancing the solutions and production facilities to have a distinct advantage over their competitors.

To illustrate, Maxion Wheels recently unveiled a series of new commercial vehicle wheels and other innovations at the NACV Show (North American Commercial Vehicle Show 2019), held in Atlanta. The new additions to the company's vast product portfolio included a lightweight & tough steel truck wheel, a Bluetooth-enabled smart wheel technology, and a novel aerodynamic wheel cover concept, among other innovations.

Get This Report Customized To Your [email protected] https://www.decresearch.com/roc/1706

Some Point from Table of Contents:

Chapter 5    Global Automotive Wheel Market, By Product

5.1. Global automotive wheel industry share by product, 2019 & 2026

5.2. Regular

5.2.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

5.2.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

5.3. High performance

5.3.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

5.3.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

Chapter 6    Global Automotive Wheel Market, By End-Use

6.1. Global automotive wheel industry share by end-use, 2019 & 2026

6.2. OEM

6.2.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

6.2.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

6.3. Aftermarket

6.3.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

6.3.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

Browse complete Table of Contents (ToC) of this research report @

https://www.decresearch.com/toc/detail/automotive-wheel-market

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

Read More >>

More News By Ronak Bora

Power Sports Market: Global Analysis, Industry Demand and Forecast to 2027
Power Sports Market: Global Analysis, Industry Demand and Forecast to 2027
By Ronak Bora

Global power sports market is anticipated to depict a CAGR of 6% through 2027, having recorded a valuation of USD 34 billion in 2020. By 2027, the market is expected to hit a remuneration of USD 50 billion. The global power sports market size has wi...

Automotive Green Tires Market: Regional Trends, Opportunities and Growth Analysis to 2027
Automotive Green Tires Market: Regional Trends, Opportunities and Growth Analysis to 2027
By Ronak Bora

The size of automotive green tires market was registered at USD 77.4 billion in the year 2020 and is anticipated to cross USD 157 billion by 2027. Between the period 2021-2027, the market is expected to register a CAGR of 11.4%. The rise in regulati...

Europe Flap Rudder Market Is Expected To Cross USD 25 Mn By 2027
Europe Flap Rudder Market Is Expected To Cross USD 25 Mn By 2027
By Ronak Bora

The Europe flap rudder market will register revenue of more than $25 million by 2027, which is attributable to the increasing prominence of fishing operations and marine tourism. Upcoming offshore projects like Penguins redevelopment and Neptune Deep...