Techno World Automotive-Trailer-Wheel-Rims-Market | Page 2

rims to every major OEM in the world. The benefits offered by aluminum material over the steel
material is that they are often several pounds lighter per wheel, which means quicker
acceleration and faster stopping. Moreover, less weight also means less strain on suspension
components. In extreme driving conditions, alloy wheels are able to dissipate heat away from
brake components than their steel counterparts. Hence, these factors will propel growth of the
automotive trailer wheel rims market.
Global Automotive Trailer Wheel Rims Market: Segment Trends
Among vehicle type, passenger vehicles segment accounted for the largest market share in 2017
and is the fastest growing segment, owing to increasing sales of these vehicles worldwide.
According to the International Organization of Motor Vehicle Manufacturers, the total units of
passenger cars sold in 2015 was 69 million, which increased to 72 million in 2016, globally.
Furthermore, increasing R&D investment by original equipment manufacturer (OEMs) will
improve riding quality and also reduce overall weight of the vehicles, which in turn will make the
vehicles fuel efficient. Hence, increasing sales of passenger vehicles will inadvertently increase
the demand for automotive trailer wheel rims, thereby fueling growth of the market.
High maintenance cost is one of the major factors restraining growth of the
automotive trailer wheel rims market
One of the major factors hindering growth of the global automotive trailer wheel rims market is
the high maintenance cost that has to be incurred. For instance, according to Coherent Market
Insights’ analysis, the cost incurred for straightening a bent rim is around US$ 75 or less whereas
the cost incurred for repainting wheel rim requires over US$ 200 per wheel and cost incurred in
entire replacement of wheel rim was over US$ 500. Therefore, high cost acts as a barrier for
growth of the global market.
Browse More About the Market Study @
https://www.coherentmarketinsights.com/ongoing-insight/automotive-trailer-wheel-rims-market-2125
Global Automotive Trailer Wheel Rims Market: Regional Insights
Asia Pacific automotive trailer wheel rims market is expected to grow at a highest CAGR over the
forecast period (2018–2026). This growth is attributed to presence of emerging economies such
as India, China, and Japan in the region positioned as growth engines in the automotive sector.
Owing to increasing vehicle production in economies such as China and India, the demand for
automotive trailer wheel rims in this region has also increased. For instance, according to the
Organisation Internationale des Constructeurs d'Automobiles (OICA), in India, the total number of
vehicles produced in 2015 was 4.16 million and it increased to 4.48 million in 2016. Similarly, in
China, the total number of vehicles produced in 2015 was 24.5 million and it increased to