Address: C76, Balewadi, Pune, Maharashtra
According to a study published by Insure Insights, the global automotive carbon wheels is anticipated to grow at a CAGR of 6.7% during the forecast period. Automotive carbon wheels are advanced automotive wheels manufactured using carbon fiber and resin. Automotive carbon wheels are made of lightweight components and provide long wheel life and high strength. They offer various other advantages over conventional wheels such as high fatigue failure strength and durability, self-vibration damping, better road grip, and high heat resistance. Besides, carbon wheels also increase fuel efficiency and reduce carbon emission.
Top Driver: Surge in Vehicle Production and the Ongoing Trend of Weight Reduction in Vehicles
The surge in vehicle production and the ongoing trend of weight reduction in vehicles propel the growth of the automotive carbon wheel market. Besides, advancements in technology and product innovations in material, aerodynamics, and design have further fueled the industry growth. In addition to this, an increase in disposable income on the vehicle along with growth in population, further stimulate market growth. Further, the increase in carbon fiber employment in the automotive industry and increasing investment in wheel design for better aerodynamics create lucrative opportunities for the automotive wheel market.
Aluminum wheel market Holds the Largest Market Share
The global automotive carbon wheel market is segmented into aluminum, steel wheels, magnesium, and carbon fiber based on the material. The aluminum wheel segment accounts for the largest market share. The easy availability of raw materials and stringent regulatory policies to promote fuel-efficient vehicle part manufacturing have fueled the demand for lightweight wheels. Aluminum wheels are the first choice over steel wheels in passenger cars. Other factors, such as lightweight, better heat conductivity, and anti-corrosive properties, will drive its demand. Based on the product, the market is segmented into regular and high performance. Based on the end-use the market is segmented into OEM and aftermarket.
Presence of Major Players and Promotion of Fuel-efficient Vehicle to Benefit Asia Pacific Market
The Asia Pacific and Europe are estimated to be highly lucrative regions during the forecast period. The growth is attributed to the presence of the major automotive industry in China, India, Germany, and Japan. Surging demand for enhanced fuel economy in vehicles across the Asia Pacific is anticipated to boost the automotive wheel market in the Asia Pacific. The presence of original equipment manufacturers and tier-1 suppliers in Europe with advanced research and development facilities in material composition is anticipated to stimulate the automotive wheel market in Europe.
Players to Focus on Automotive carbon wheel market
The global automotive carbon wheel market is estimated to stay fragmented during the forecast period owing to the possible new entrants. Major players operating in the market are Iochpe-Maxion (Brazil), Superior Industries International (US), Accuride Corporation (US), Steel Strips Wheels (India), Hitachi Metals (Japan), Enkei (Japan), Citic Dicastal (China), Zhejiang Wanfeng Auto Wheel (China), Borbet (Germany), Mangels Industrial (Brazil), and Mefro Wheels (Germany).
MAXION WHEELS: In October 2019, MAXION WHEELS partnered with ZF OPENMATICS to help fleets perform more safely and efficiently by collecting essential vehicle data at the wheel through its groundbreaking MaxSmart technology.
ARCONIC: In October 2018, ARCONIC sold its Texarkana, Texas, U.S. rolling mill to Ta Chen International, Inc., a U.S.-based subsidiary of aluminum and stainless-steel distributor. The deal was valued at ~US$ 350 Mn.
Scope of the Report
By Material
By Product
By End-User
By Region
North America
Key Reasons to Purchase this Report
Table of Content
Chapter 2 Our Research Practice
Chapter 4 Covid-19 Impact Analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Automotive Carbon Wheel Market Forces
5.2 Porter’s Five Forces Analysis
5.2.2 Threats From New Entrants
5.2.4 Threat From Substitute Product
Chapter 6 Global Automotive Carbon Wheel Market -Industry Snapshots
6.1.1 Global Automotive Carbon Wheel Market Value, 2019 – 2028, (US$ Bn)
6.2.2 Restraint/Challenges analysis
6.3 Supply Chain/Value Chain Analysis
Chapter 7 Global Automotive Carbon Wheel Market Analysis, by Material
7.2 Key Findings for Automotive Carbon Wheel Market- By Material
7.2.1 Automotive Carbon Wheel Market- Aluminum
7.2.2 Automotive Carbon Wheel Market- Steel wheels
7.2.3 Automotive Carbon Wheel Market- Magnesium
7.2.4 Automotive Carbon Wheel Market- Carbon fiber
Chapter 8 Global Automotive Carbon Wheel Market Analysis, by Product
8.2 Key Findings for Automotive Carbon Wheel Market- By Product
8.2.1 Automotive Carbon Wheel Market- Regular
8.2.2 Automotive Carbon Wheel Market- High Performance
Chapter 9 Global Automotive Carbon Wheel Market Analysis, by End User
9.2 Key Findings for Automotive Carbon Wheel Market- By End User
9.2.1 Automotive Carbon Wheel Market- OEM
9.2.2 Automotive Carbon Wheel Market- Aftermarket
Chapter 10 Automotive Carbon Wheel Market Analysis by Region
10.1 Key Findings for Automotive Carbon Wheel Market- By region
10.2.1 Global Automotive Carbon Wheel Market Analysis, By Material, 2019 – 2028
10.2.2 Global Automotive Carbon Wheel Market Analysis, By Product, 2019 – 2028
10.2.3 Global Automotive Carbon Wheel Market Analysis, By End User, 2019 – 2028
10.3 Automotive Carbon Wheel Market – North America
10.3.5 North America Market, By Material
10.3.6 North America Market, By Product
10.3.7 North America Market, By End User
10.4 Automotive Carbon Wheel Market – Europe
10.4.7 Europe Market, By Material
10.4.8 Europe Market, By Product
10.4.9 Europe market by, End User
10.5 Automotive Carbon Wheel Market – Asia Pacific
10.5.6 Asia Pacific Market, By Material
10.5.7 Asia Pacific Market, By Product
10.5.8 Asia Pacific Market, By End User
10.6 Automotive Carbon Wheel Market – SAMEA
10.6.2 Middle East & Africa (MEA)
10.6.5 South America, Middle East and Africa Market, By Material
10.6.6 South America, Middle East and Africa Market, By Product
10.6.7 South America, Middle East and Africa Market, By End User
Chapter 11 Market Competition Analysis
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
Chapter 12 Company Profiles- Snapshot
12.2 Superior Industries International
12.8 Zhejiang Wanfeng Auto Wheel
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
Please fill out the form to receive sample pages of the report