Global Automotive Alloy Wheel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

"Global Automotive Alloy Wheel Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global automotive alloy wheel market report has been segmented on the basis of finish type, vehicle type, and region.

Global Automotive Alloy Wheel Market: Introduction 

Automotive alloy wheels are made of alloys of light metals such as magnesium, aluminum, or nickel. These wheels are stronger, lighter, provide better vehicle ride quality, and enhance the vehicle appearance, as compared to spoke wheels. Furthermore, automotive alloy wheels enhance heat dissipation from brakes as these alloy wheels manufactured from aluminum and magnesium are good conductors of heat, which reduces the chances of vehicle brake failure under intense driving conditions.

Global Automotive Alloy Wheel Market: Dynamics 

Growing demand for alloy wheels owing to their lightweight and corrosion resistant properties is major factor expected to drive revenue growth of the automotive alloy wheel market over the forecast period. Increasing production of passenger cars and commercial vehicles in developing and developed countries owing to growing transportation sector is expected to augment revenue growth of the global market. Automotive alloy wheels offer enhanced driving experience, superior grip on brakes, and improved fuel efficiency as compared to spoke wheels, these advantages are expected to boost demand for automotive alloy wheel market.

However, alloy wheels are expensive and require high maintenance cost as compared to spoke wheels, which is expected to restrain revenue growth of target market over the forecast period.

Global Automotive Alloy Wheel Market: Vehicle Type Analysis

On the basis of vehicle type, the passenger cars segment is expected to account major revenue share in the global target market. Rising production of passenger vehicles in the developing economies of Asia Pacific and Latin America owing to the growing population and increasing spending power of people is a major factor expected to drive revenue growth of this segment over the forecast period.

Global Automotive Alloy Wheel Market: Regional Insights

Asia Pacific market is expected to account major revenue share in the global market. Increasing production of passenger vehicles in the region owing to the rising population and changing living standards of people in the counties in the region is expected to drive revenue growth of target market. Moreover, easy availability of raw materials and supportive government regulations for industrialization is another factor expected to support revenue growth of Asia Pacific automotive alloy wheel market over the forecast period.

Asia Pacific accounts for the major revenue share of the global automotive alloy wheel market, followed by markets in North America, Europe, Latin America, and Middle East & Africa. The automotive alloy wheel market in North America is expected to grow at a moderate growth rate over the forecast period. Presence of a large number of automotive manufacturers in region is expected to drive revenue growth of automotive alloy wheel market in North America. Furthermore, growing adoption of alloy vehicles owing to its advantages such as vehicle acceleration and fuel economy is another factor expected to drive revenue growth of North America automotive alloy wheel market.

Global Automotive Alloy Wheel Market Segmentation:

Segmentation by Finish Type:

• Polished alloy wheel
• Two-toned allay wheel
• Others

Segmentation by Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa