Automotive Aluminium alloy wheel Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Aluminium Alloy Wheel Market
The aluminium alloy wheel market size was valued at USD 14.23 billion in 2020, and the market is now projected to grow from USD 16.43 billion in 2021 to USD 30.98 billion by 2028, exhibiting a CAGR of 9.5% during the forecast period of 2021-2028.
The COVID-19 pandemic affected the automotive industries in a negative way since its outbreak led to a range of problems including s hurting the financial position of producers since it created business risks such as a disrupted market and low buyers’ demand and supply risks. With the decline of car sale statistics in each country Indian passenger vehicle saw a decline of 2.24%, China with new car sale decreased by 23% of the early 2020’s the automotive supply sector did face several problems. Nevertheless, there was an increase in the market after the lockdown resumed normalcy in government undertakings.
The increasing importance of lightweight materials and high fuel efficiency vehicles and requirement in the automotive industry promotes the Aluminum alloys due to their corrosion and longer durability than steel. Also, consumers’ buying capability and urbanization are turning to luxury cars during their car purchase which is driving the market expansion even more.
The automaker companies are giving priority to developing safer and lighter luxurious cars to fulfill the customers need. Compactness materializes and classy designing provides extraordinary advantages to the kind. Suppliers have been forced to come up with better ways to meet regulations as well as the needs of different customers on behalf of OEMs.
Comprehensive Analysis of Aluminium Alloy Wheel Market
The aluminium alloy wheel market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by finishing type analysis and by vehicle type. By finishing type analysis incudes polished alloy wheel, tow-toned alloy wheel. By vehicle type incudes passenger cars and commercial vehicles.
The Asia Pacific region lead the aluminium alloy wheel market share by benefitting a market size of USD 6.34 billion in 2020 due to increasing urbanization.
Top players in the market have their responsibility of automotives industrial prospectus growth of the retailing industry and the markets. These players include, Status Wheels Inc., Wheel Pros LLC., Fuel Off-Road Wheels, Citic Dicastal Co Ltd., Enkei Wheels India Ltd, Ronal AG, BBS Kraftfahrzeugtechnik AG, Alcoa wheels, MHT Luxury Wheels, Superior Industries these market players provide a level-playing competitive landscape.
In March 2021, Ronal Group launched the Ronal R67 wheel, featuring a five-spoke design with colorful aero-style applications for enhanced air inlet and a sporty look.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Estimated Year
2021
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD Billion)
By Finishing Type
Polished Alloy Wheel
Tow-Toned Alloy Wheel
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Geography
North America (By Finishing Type, By Vehicle Type)
U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)
Europe (By Finishing Type, By Vehicle Type)
U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)
Asia Pacific (By Finishing Type, By Vehicle Type)
China (By Vehicle Type)
Japan (By Vehicle Type)
India (By Vehicle Type)
Rest of APAC (By Vehicle Type)
Rest of the World (By Finishing Type, By Vehicle Type)Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
- 4.2. Distribution Analysis
- 4.3. Porter’s Five Forces Analysis
- 4.4. PEST Analysis
- 4.5. Vendor Landscape
- 4.6. Impact of COVID-19
- 5. Global Aluminum Alloy Wheels Market Analysis, Insights and Forecast, 2017-2028
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.2.1. Passenger Cars
- 5.2.2. Commercial Vehicles
- 5.3. Market Analysis, Insights and Forecast – By Finishing Type
- 5.3.1. Polished Alloy Wheels
- 5.3.2. Two-toned Alloy Wheels
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Rest of the World
- 6. North America Aluminum Alloy Wheels Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Analysis – By Vehicle Type
- 6.2.1. Passenger Cars
- 6.2.2. Commercial Vehicles
- 6.3. Market Analysis – By Finishing Type
- 6.3.1. Polished Alloy Wheels
- 6.3.2. Two-toned Alloy Wheels
- 6.4. Market Analysis – By Country (Value)
- 6.4.1. U.S.
- 6.4.1.1. By Vehicle Type
- 6.4.2. Canada
- 6.4.2.1. By Vehicle Type
- 6.4.3. Mexico
- 6.4.3.1. By Vehicle Type
- 7. Europe Aluminum Alloy Wheels Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Key Findings / Summary
- 7.2. Market Analysis – By Vehicle Type
- 7.2.1. Passenger Cars
- 7.2.2. Commercial Vehicles
- 7.3. Market Analysis – By Finishing Type
- 7.3.1. Polished Alloy Wheels
- 7.3.2. Two-toned Alloy Wheels
- 7.4. Market Analysis – By Country (Value)
- 7.4.1. U.K.
- 7.4.1.1. By Vehicle Type
- 7.4.2. Germany
- 7.4.2.1. By Vehicle Type
- 7.4.3. France
- 7.4.3.1. By Vehicle Type
- 7.4.4. Rest of Europe
- 7.4.4.1. By Vehicle Type
- 8. sia Pacific Aluminum Alloy Wheels Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Key Findings / Summary
- 8.2. Market Analysis – By Vehicle Type
- 8.2.1. Passenger Cars
- 8.2.2. Commercial Vehicles
- 8.3. Market Analysis – By Finishing Type
- 8.3.1. Polished Alloy Wheels
- 8.3.2. Two-toned Alloy Wheels
- 8.4. Market Analysis – By Country (Value)
- 8.4.1. China
- 8.4.1.1. By Vehicle Type
- 8.4.2. Japan
- 8.4.2.1. By Vehicle Type
- 8.4.3. India
- 8.4.3.1. By Vehicle Type
- 8.4.4. Rest of Asia Pacific
- 8.4.4.1. By Vehicle Type
- 9. Rest of the World Aluminum Alloy Wheels Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Key Findings / Summary
- 9.2. Market Analysis – By Vehicle Type
- 9.2.1. Passenger Cars
- 9.2.2. Commercial Vehicles
- 9.3. Market Analysis – By Finishing Type
- 9.3.1. Polished Alloy Wheels
- 9.3.2. Two-toned Alloy Wheels
- 10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Share Analysis (2020)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 10.5.1. Status Wheels Inc. (Florida, USA)
- 10.5.1.1. Overview,
- 10.5.1.2. Products & services,
- 10.5.1.3. SWOT analysis,
- 10.5.1.4. Recent developments,
- 10.5.1.5. strategies,
- 10.5.1.6. financials (based on availability)
- 10.5.2. Wheel Pros LLC. (Colorado, USA)
- 10.5.2.1. Overview,
- 10.5.2.2. Products & services,
- 10.5.2.3. SWOT analysis,
- 10.5.2.4. Recent developments,
- 10.5.2.5. strategies,
- 10.5.2.6. financials (based on availability)
- 10.5.3. Fuel Off-Road Wheels (California, USA)
- 10.5.3.1. Overview,
- 10.5.3.2. Products & services,
- 10.5.3.3. SWOT analysis,
- 10.5.3.4. Recent developments,
- 10.5.3.5. strategies,
- 10.5.3.6. financials (based on availability)
- 10.5.4. Citic Dicastal Co Ltd. (Hebei, China)
- 10.5.4.1. Overview,
- 10.5.4.2. Products & services,
- 10.5.4.3. SWOT analysis,
- 10.5.4.4. Recent developments,
- 10.5.4.5. strategies,
- 10.5.4.6. financials (based on availability)
- 10.5.5. Enkei Wheels India Ltd (Pune, India)
- 10.5.5.1. Overview,
- 10.5.5.2. Products & services,
- 10.5.5.3. SWOT analysis,
- 10.5.5.4. Recent developments,
- 10.5.5.5. strategies,
- 10.5.5.6. financials (based on availability)
- 10.5.6. Ronal AG (Härkingen, Switzerland)
- 10.5.6.1. Overview,
- 10.5.6.2. Products & services,
- 10.5.6.3. SWOT analysis,
- 10.5.6.4. Recent developments,
- 10.5.6.5. strategies,
- 10.5.6.6. financials (based on availability)
- 10.5.7. BBS Kraftfahrzeugtechnik AG (Schiltach, Germany)
- 10.5.7.1. Overview,
- 10.5.7.2. Products & services,
- 10.5.7.3. SWOT analysis,
- 10.5.7.4. Recent developments,
- 10.5.7.5. strategies,
- 10.5.7.6. financials (based on availability)
- 10.5.8. Alcoa wheels(Pennsylvania, USA)
- 10.5.8.1. Overview,
- 10.5.8.2. Products & services,
- 10.5.8.3. SWOT analysis,
- 10.5.8.4. Recent developments,
- 10.5.8.5. strategies,
- 10.5.8.6. financials (based on availability)
- 10.5.9. MHT Luxury Wheels (California, USA)
- 10.5.9.1. Overview,
- 10.5.9.2. Products & services,
- 10.5.9.3. SWOT analysis,
- 10.5.9.4. Recent developments,
- 10.5.9.5. strategies,
- 10.5.9.6. financials (based on availability)
- 10.5.10. Superior Industries (Minnesota, USA)
- 10.5.10.1. Overview,
- 10.5.10.2. Products & services,
- 10.5.10.3. SWOT analysis,
- 10.5.10.4. Recent developments,
- 10.5.10.5. strategies,
- 10.5.10.6. financials (based on availability)
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