Transparency Market Research (TMR) provides key insights on the automotive wheel market in its latest report titled “Automotive Wheel Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, high production and sales of vehicles in Asia Pacific is predicted to drive the automotive wheel market during the forecast period.
The report has segmented the global automotive wheel market based on material, wheel size, sales channel, vehicle, and region. In terms of wheel size, the automotive wheel market is classified into 12’’ to 17’’, 18’’ to 20’’, more than 20’’. Rising trend of higher rim size wheels is expected to drive the 18’’-20’’ segment. On the basis of material, the automotive wheel market is divided into carbon, aluminum, and steel. The carbon segment is expected to expand at a prominent growth rate during the forecast period. OEMs have stated offering carbon fiber wheels on high-end vehicles such as Ford GT. The aluminum segment is estimated to expand at a steady pace, aluminum is an affordable material.
Based on sales channel, the automotive wheel market is split into OEM and aftermarket. The OEM segment is anticipated to hold a major market share as the wheel is a standard fitment in all vehicles. Rise in demand for customized automotive wheels is expected to fuel the aftermarket segment. Based on vehicle, the automotive wheel market is split into passenger vehicle and commercial vehicle. Rise in production of passenger vehicles is expected to boost the automotive wheel market.
In terms of geography, the automotive wheel market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is likely to dominate the global market as the region witnesses a considerably high production of vehicles. Some of the major manufacturers operating in the global automotive wheel market are included in this report to give a better competitive landscape and these are MAXION Wheels, Vossen Wheels, Automotive Wheels Ltd., Steel Strip Wheels, HRE Wheels, Superior Industries International, Accuride, Zhejiang Wanfeng Auto Wheel, and Mangles Industrial S.A.
For more information on Automotive Wheel Market, please visit website of Transparency Market Research.
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