The market is gaining huge traction owing to rise in renovation and replacement activities of older heavy wheels. Booming automotive industry coupled with rising trend of customization resulting in external styling of the vehicles is driving the market growth. Increase in spending on the aftermarket product by the major players is further pushing the market growth. Owing to relatively inexpensive, lightweight, better heat conduction, excellent load bearing capacity & quicker acceleration are some of the prominent factors driving the market demand. In addition to this, strict regulation imposed on emission and fuel efficiency of the vehicles is further pushing the market uphill.
The latest report by Value Market Research expects the Global Alloy Wheel Aftermarket Market to reach USD 10.4 billion by 2025. It was valued USD 6.9 billion in 2018. The report foresees a 6% CAGR from 2019 to 2025.
PASSENGER VEHICLE DOMINATED THE PRODUCT SEGMENT
On the basis of product, passenger vehicle led the segment and has accounted major share in 2018. Rise in disposable income, growing middle-class population and an increase in sales of passenger cars is driving the market growth.
NORTH AMERICA LED THE REGIONAL MARKET
The rise in enthusiastic car riders leading to high spending on the customization to improve car aesthetics is driving the regional market growth. Also, upsurging demand for automotive vehicles from China, India and other emerging economies is further fueling the market demand. Cost-benefit of aftermarket wheel over OEM is attracting potential population towards aftermarket products is again spurring the market growth.
MAJOR PLAYERS OF THE MARKET
Some of the prominent players of the market are Accuride, Arconic, CITIC Dicastal, Enkei Wheels (India) Limited, Uniwheels Group, and YHI International Limited.
As per this study the Global Alloy Wheels Aftermarket Market was valued USD 6.9 BN (by revenue) in 2018 and is anticipated to reach USD 10.4 BN by 2025 with a CAGR of 6%.
Alloy wheels are the wheels which are made of alloys of aluminum and magnesium, and provide easy acceleration to the cars, resulting in better mileage and fuel economy. Alloy wheels minimize the unsprung weight and help in better handling of vehicles. They have been rapidly adopted across the automotive industry for the replacement of steel wheels with alloy wheels due to the several benefits offered over the conventional steel wheels.
The consumers are becoming more conscious of the external styling of the vehicles and better riding quality, which is expected to act as a catalyst for the growth of the alloy wheels aftermarket. The major advantage of using aftermarket alloy wheels is their cost-efficiency with respect to the price offered by OEM dealerships which are also expected to fuel the market growth over the time span. Owing to their light weight, which offers improved acceleration to vehicles they are being rapidly adopted across the automotive industry thereby fueling industry expansion.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of alloy wheels aftermarket.
The broad alloy wheels aftermarket market has been sub-grouped into the product. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for alloy wheels aftermarket in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Alloy Wheels Aftermarket Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the alloy wheels aftermarket market include Accuride, Arconic, CITIC Dicastal, Enkei Wheels (India) Limited, Uniwheels Group, and YHI International Limited. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.
2. EXECUTIVE SUMMARY
- Introduction To Alloy Wheels Aftermarket
- Report Description
- Objectives Of The Study
- Research Scope
- Research Methodology
3. MARKET ANALYSIS
- Market Highlight
- Global Alloy Wheels Aftermarket Market: Snapshot
4. ALLOY WHEELS AFTERMARKET MARKET ANALYSIS BY PRODUCT
- Porter’s Five Forces Analysis
- Value Chain Analysis
5. ALLOY WHEELS AFTERMARKET MARKET ANALYSIS BY GEOGRAPHY
- Market In Passenger Car
- Market In Light Commercial Vehicle
- Market In Heavy Commercial Vehicle
6. COMPETITIVE LANDSCAPE OF THE ALLOY WHEELS AFTERMARKET COMPANIES
- North America (NA)
- North America Market Estimates
- North America Market Estimates By Country
- United States (U.S.) Market Estimates By Segments
- Rest Of North America Market Estimates By Segments
- Europe (EU)
- Europe Market Estimates
- Europe Market Estimates By Country
- United Kingdom (UK) Market Estimates By Segments
- Germany Market Estimates By Segments
- France Market Estimates By Segments
- Rest Of Europe Market Estimates By Segments
- Asia Pacific (APAC)
- Asia Pacific Market Estimates
- Asia Pacific Market Estimates By Country
- China Market Estimates By Segments
- Japan Market Estimates By Segments
- India Market Estimates By Segments
- Rest Of Asia Pacific Market Estimates By Segments
- Latin America (LA)
- Latin America Market Estimates
- Latin America Market Estimates By Country
- Brazil Market Estimates By Segments
- Rest Of Latin America Market Estimates By Segments
- Middle East And Africa (MEA)
- Middle East And Africa Market Estimates
- Middle East And Africa Market Estimates By Country
- Middle East Market Estimates By Segments
- Africa Market Estimates By Segments
7. COMPANY PROFILES OF THE ALLOY WHEELS AFTERMARKET INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
- Market Competition
- Mergers And Acquisitions
- New Product Launches
- Other Developments
* Tentative TOC
LIST OF TABLES
- CITIC Dicastal
- Enkei Wheels (India) Limited
- Uniwheels Group
- YHI International Limited
Table 1. Market Highlights Of Alloy Wheels Aftermarket
Table 2. Global Alloy Wheels Aftermarket Market By Product
Table 3. Global Alloy Wheels Aftermarket Market By Geography
Table 4. North America Alloy Wheels Aftermarket Market
Table 5. Europe Alloy Wheels Aftermarket Market
Table 6. Asia Pacific Alloy Wheels Aftermarket Market
Table 7. Latin America Alloy Wheels Aftermarket Market
Table 8. Middle East And Africa Alloy Wheels Aftermarket Market
Table 9. Partnership/Collaboration/Agreements
Table 10. Mergers And Acquisitions
Table 11. New Product Development
Table 12. Other Developments
LIST OF FIGURES
Fig. 1. Market Segmentation Of Alloy Wheels Aftermarket Market
Fig. 2. Top-Down Approach
Fig. 3. Bottom-Up Approach
Fig. 4. Market Highlights Of Alloy Wheels Aftermarket
Fig. 5. Porter’s Five Forces Analysis
Fig. 6. Value Chain Analysis
Fig. 7. Global Alloy Wheels Aftermarket Market By Product
Fig. 8. Global Alloy Wheels Aftermarket Market By Geography
Fig. 9. North America Alloy Wheels Aftermarket Market
Fig. 10. Europe Alloy Wheels Aftermarket Market
Fig. 11. Asia Pacific Alloy Wheels Aftermarket Market
Fig. 12. Latin America Alloy Wheels Aftermarket Market
Fig. 13. Middle East And Africa Alloy Wheels Aftermarket Market
Fig. 14. Market Share Of Alloy Wheels Aftermarket Companies
Fig. 15. Recent Developments In Alloy Wheels Aftermarket Industry
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.