Global Light Automotive Alloy Wheel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Light Automotive Alloy Wheel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Light Automotive Alloy Wheel market finds that the global Light Automotive Alloy Wheel market reached a value of USD 11461.2 million in 2022. It’s expected that the market will achieve USD 14013.58 million by 2028, exhibiting a CAGR of 3.41% during the forecast period.

Market SWOT Analysis

Strength
Automotive alloy wheels support tubeless tires and offer better grip on brakes.
Their lightweight and corrosion-resistant properties.
Easy availability of raw materials and supportive government regulations for industrialization.

Economic price.

Heavy load carrying capacity.
Lighter weight.

Lengthens tire life.

Less likely to corrode and rust.
Better heat conduction/dissipation.

Weakness

Volatility in raw material prices.
Not as high-strength as steel wheels.
More expensive to produce, buy and repair.
More attractive to thieves.
Alloy wheels are less durable than a steel wheel, tend to bend or even crack more easily.

Region Overview:

From 2023-2028, Asia-Pacific is estimated to witness robust growth prospects.

Company Overview:

CITIC Dicastal is one of the major players operating in the Light Automotive Alloy Wheel market, holding a share of 14% in 2020.

Citic Dicastal Wheel Manufacturing Co. Ltd. manufactures aluminum wheels. The Company develops, produces, and markets aluminum alloy wheels and auto aluminum parts.

The RONAL GROUP is a leading manufacturer in the international market for light alloy wheels. The company covers the complete process chain with its services – all production stages, from engineering through tooling to the finished product, are carried out by the RONAL GROUP using high-tech production facilities. Innovative processes and specially developed technologies demonstrate the innovative strength and high quality standards of the company.

The company has supplied all well-known car manufacturers throughout the world as an OEM for many years. Living up to its principles of customer proximity and quality workmanship, the RONAL GROUP also offers premium products for the automotive aftermarket under the RONAL and SPEEDLINE CORSE brands. With SPEEDLINE TRUCK the Group also offers a product range for commercial vehicles, trailers and coaches. It is the focus on design and lightweight construction means this range is unique in the market.

Segmentation Overview:

Among different product types, Casting segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Passenger Vehicle segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Light Automotive Alloy Wheel market covered in Chapter 3:

Topy Industries
Acronic inc
Borbet
Superior Industries
CITIC Dicastal
Maxion Wheels
Wanfeng Auto Wheels
Ronal Group
ENKEI
Lizhong Wheel Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Light Automotive Alloy Wheel market from 2018 to 2029 is primarily split into:

Casting
Forging

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Light Automotive Alloy Wheel market from 2018 to 2029 covers:

Passenger Vehicle
Light Commercial Vehicle

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)