Global Automotive Steel Wheels Market 2024-2028
The automotive steel wheels market is forecasted to grow by USD 1.91 bn during 2023-2028, accelerating at a CAGR of 3.68% during the forecast period. The report on the automotive steel wheels market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth of automotive industry in emerging economies, low development costs and advantages of steel wheels, and rise in demand for construction and mining vehicles globally.
Technavio's automotive steel wheels market is segmented as below:
By Application
- Passenger cars
- LCVs
- M and HCVs
By End-user
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the advent of carbon fiber alloy wheels as one of the prime reasons driving the automotive steel wheels market growth during the next few years. Also, development of ultra-lightweight steel wheels for cvs and incorporation of advanced manufacturing technologies for high-strength steel wheels by vendors will lead to sizable demand in the market.
The report on the automotive steel wheels market covers the following areas:
- Automotive steel wheels market sizing
- Automotive steel wheels market forecast
- Automotive steel wheels market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive steel wheels market vendors that include Accuride Corp., ALCAR HOLDING GMBH, Automotive Wheels Ltd., Bharat Wheel Pvt. Ltd., Central Motor Wheel of America Inc., CLN Coils Lamiere Nastri Spa, ENKEI WHEELS India Ltd., Fastco Canada, Jantsa Jant Sanayi ve Tic AS, JS Wheels, Klassic Wheels Ltd., MAXION Wheels, Munjal Auto Industries Ltd., Steel Strips Wheels Ltd., The Carlstar Group LLC, thyssenkrupp AG, Topy Industries Ltd., Weller Wheels Ltd., WIL Car Wheels Ltd., and Kenda Rubber Industrial Co. Ltd.. Also, the automotive steel wheels market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.