Global Automotive Wheel Market is expected to reach US$ 50.00 Bn by 2024 from US$ 32.00 Bn in 2015 at CAGR of 5.7% during a forecast period. Global Automotive Wheel Market is segmented by rim size, material, vehicle type, vehicle class, off-highway, and region. Rim size is classified as compact size (13 inch – 16 inch), mid-size (17 inch – 21 inch), large size (21 inches and above). Materials are divided into steel, alloy, carbon fibre, magnesium. Vehicle type is sub-segmented into a passenger vehicle, light commercial vehicle, heavy commercial vehicle. Vehicle class is classified as an economy, mid-priced, luxury-priced. Off-highway are splits into construction & mining, agriculture tractors. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Driving factors in the automotive wheel markets are growing miniaturization in the products. Immensely growing demand automotive industry. Growing pollution levels along with increasing road congestion are inspiring numerous countries to heavily invest in public transport systems. Some of the restraint seem in a market are raw material price fluctuations. Changing geopolitical structure of various countries. A large untapped market in developing and underdeveloped countries and technological developments in tire manufacturing are opportunities in the market. Based on the off-highway, Construction equipment constitutes various types of vehicles such as articulated dump truck, backhoe loader, motor grader, motor scraper, and others. The construction industry has witnessed grew in recent decades. The construction of commercial buildings, which include factories, manufacturing facilities, hospitals, schools, colleges, and others, grew by 10-12% in 2016 as compared to 2015. So, the demand for construction equipment is increasing, which in turn leads to the raised sales of construction and mining equipment wheels. On the basis of vehicle type, Passenger vehicles segment is estimated to hold the largest market share during the forecast period. So, the increase in R&D investment by OEMs and Tier 1 players to improve the drive quality and efficiency of passenger vehicles will drive the automotive wheel market in this segment. However, the rise in disposable income, particularly in developing countries such as China, India, Mexico, and others, will drive the automotive wheel market in the passenger vehicle segment. In terms of region, Asia Pacific region leads the automotive wheel market, owing to increase vehicle production in countries such as China and India. The vehicle production in these countries is projected to grow at 6.0% CAGR over the period of next five years. Increasing vehicle production has, in turn, increased the demand for wheels in this region. Many wheel manufacturers have set up their manufacturing plants in the region. Key players operating on the market are, Iochpe-Maxion , Superior Industries International, Accuride Corporation, Steel Strips Wheels, Hitachi Metals, Enkei, Citic Dicastal, Zhejiang Wanfeng Auto Wheel, Borbet, Mangels Industrial, Mefro Wheels, Euromax Wheel, MHT Luxury Wheels, Status Wheels, Inc., Wheel Pros, LLC , Fuel Off-Road Wheels , SOTA Offroad, Enkei Wheels India Ltd., Ronal AG, Uniwheels , BBS Kraftfahrzeugtechnik AG.

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The scope of the Global Automotive Wheel Market are:
Global Automotive Wheel Market, By Rim Size
• Compact size (13 inch – 16 inch) • Mid-size (17 inch – 21 inch) • Large size (21 inch and above)

Global Automotive Wheel Market, By Material
• Steel • Alloy • Carbon fibre • Magnesium

Global Automotive Wheel Market, By Vehicle Type
• Passenger Vehicle • Light Commercial Vehicle • Heavy Commercial Vehicle

Global Automotive Wheel Market, By Vehicle Class
• Economy • Mid-Priced • Luxury-Priced

Global Automotive Wheel Market, By Off-Highway
• Construction & Mining • Agriculture Tractors

Global Automotive Wheel Market, By Region
• North-America • Europe • Latin America • Middle East • Asia Pacific

Key players analysed in the Global Automotive Wheel Market:
• Iochpe-Maxion • Superior Industries International • Accuride Corporation • Steel Strips Wheels • Hitachi Metals • Enkei • Citic Dicastal • Zhejiang Wanfeng Auto Wheel • Borbet • Mangels Industrial • Mefro Wheels • Euromax Wheel • MHT Luxury Wheels • Status Wheels, Inc. • Wheel Pros, LLC • Fuel Off-Road Wheels • SOTA Offroad • Enkei Wheels India Ltd. • Ronal AG • Uniwheels • BBS Kraftfahrzeugtechnik AG.

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