High Performance Wheels Market Segmented by Product Type, Top Manufacturers, By End-User Industry, Geography Trends & Forecast 2024
Category: #reports  By Sachin Pashte  Date: 2019-01-22
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High Performance Wheels Market Segmented by Product Type, Top Manufacturers, By End-User Industry, Geography Trends & Forecast 2024

Market Study Report LLC adds 2017-2024 Global High Performance Wheels market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.

U.S. high performance wheels market will witness growth exceeding 5% by 2024. Regulatory compliance, technological advancements accompanied by increasing manufacturing facilities are the supporting factors of the market demand in this region.

High Performance Wheels Market size is estimated to surpass USD 160 billion by 2024; according to a new research report. Potential outlook in premium compact, entry-level and mid-size luxury vehicles will escalate the high performance wheels market growth. Increasing consumer preference for vehicle customization, weight reduction and improved fuel efficiency will support the industry growth.

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In Europe, increasing consumer awareness pertaining to safety, comfort and carbon emissions will certainly influence the regional demand. Presence of leading OEMs particularly in Germany, France, Poland and Italy will enhance the product development in this region.

Recovery of the global automotive industry coupled with increase in luxury vehicle sales are the factors enhancing the product demand. Heavy R&D on wheel designs for better aerodynamics along with evolution of advanced materials including carbon fiber will encourage the product development.

OEMs dominate the end-use segment accounting for over 80% of the overall high performance wheels market share. Rising global automotive demand accompanied by rising manufacturing facilities will fuel the demand.

Aluminum high performance wheels market will observe growth around 6%. Huge load carrying capacity, optimum dimension, corrosion resistance, low density along with ductility and malleability properties are the factors fueling the product demand. Increasing adoption by both aftermarket and OEMs due to its significant performance parameters are the fueling factors of business growth.

Magnesium accounted for more than 30% of the 2015 overall industry share. Exceptional lightweight property enhances the steering precision, improves braking system and reduces carbon emissions & vibrations. Steel high performance wheels market size will witness gains over 4.5% by 2024. Cost-efficiency, strength, durability coupled with excellent mechanical properties will fuel the demand in this segment.

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Expensive initial set up and increased costs associated with alloyed materials are the restraining factors of price trend. Moreover, low consumer consciousness regarding product benefits may hinder industry growth.

High performance wheels market volume from premium compact segment dominated the overall industry catering for over 50% in 2015. This is due to lightweight, fuel efficient and less expensive vehicles than entry-level luxury segment. Increasing consumer spending along with inclination towards enhanced visual appearance will trigger the demand.

Entry-level segment high performance wheels market was valued over USD 25 billion in 2015. Independent suspension, improved transmission and maximized interior space are some of the properties enhancing product penetration.

Increasing preference for customized vehicle designs have enhanced the product consumption in the aftermarket. Rising road accidents coupled with availability and low costs of replacement parts are driving factors of product demand in this segment.

In terms of units, Asia Pacific high performance wheels market will witness fastest growth during the forecast timeframe. Rapid automotive industry expansion due to cheap labor and extensive raw material accessibility will enhance the regional demand. Japan will witness significant gains, owing to the presence of leading manufacturers.

Global high performance wheels industry share is fragmented due to wide presence of local manufacturers particularly in China. United Group, Fikse, ALCAR Group, OZ S.p.A, BBS Kraftfahrzeugtechnik AG, Euromax, Carbon Revolution, Steel Strips and Topy Industries are the key industry players.

Table of Content:

Chapter 1. High Performance Wheels Market Methodology and Scope

Chapter 2. High Performance Wheels Market Executive Summary

Chapter 3. High Performance Wheels Industry Insights

Chapter 4. High Performance Wheels Market, By Material

Chapter 5. High Performance Wheels Market, By Vehicle

Chapter 6. High Performance Wheels Market, By End-use

Chapter 7. High Performance Wheels Market, By Region

Chapter 8. High Performance Wheels Market Company Profiles

For more information on this report at: https://bit.ly/2W5b8hr

Related Report:

Germany High Performance Wheels Market Research Report 2018

The global High Performance Wheels market is valued at XX million USD in 2017 and is expected to reach XX million USD by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

https://www.marketstudyreport.com/reports/germany-high-performance-wheels-market-research-report-2018?utm_source=RR-SP

Read more at: https://www.marketwatch.com/press-release/at-33-cagr-automotive-brake-system-components-market-to-reach-usd-7060-million-by-2023-2019-01-15

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About Author

Sachin Pashte

Email: [email protected]   

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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