The automotive wheel market for luxury priced vehicle is estimated to grow at the highest rate during
the forecast period. Luxury-priced vehicles include premium sports vehicle variants, which use high-
performance wheels. These vehicles are performance-oriented, and wheels play a vital role in improving
the vehicle dynamics. Due to increasing competition in the automotive industry, luxury and premium car
manufacturers have increased their focus on high-performance vehicles. These companies along with
wheels manufacturers are investing heavily in R&D to develop lightweight and high-strength wheels,
which will help boost the car performance.
Asia Pacific: Largest regional market for Automotive wheels
Asia Pacific is estimated to be the largest market for automotive wheels. The Asia Pacific region accounts
for about ~49% of the global automobile production. The region comprises emerging economies such as
China and India along with developed nations such as Japan and South Korea. The increase in sales of
vehicles can be attributed to various factors such as increasing per capita income, increased
infrastructure spending, attractive FDI from governments, economic production cost, lenient
environment regulations, and so on. Additionally, the number of vehicles on the road is increasing owing
to the improving road infrastructure and increase in disposable income.
The report covers all the major players in the automotive wheel market, including 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).
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Study Coverage:
The report covers the automotive wheel market, in terms of volume (million units) and value (USD
million). It explains the qualitative and quantitative aspects of the automotive wheel market, which is
segmented by material (steel, alloy, and carbon fiber and others), vehicle type (passenger, light
commercial, and heavy commercial vehicles), vehicle class (economy, mid-priced, and luxury-priced), rim
size (13"-15", 16"-18", 19"-21", & above 21"), end-use (OE and aftermarket), off-highway (construction
& mining and agriculture tractors) and region.
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