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NEW YORK, July 19, 2022 /PRNewswire/ — The “Alloy Wheels Aftermarket by Application (passenger vehicles and commercial vehicles) and Geographic (APAC, Europe, North America, South Americaand MEA) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the alloy wheels aftermarket between 2020 and 2025 is USD 100.99 million with an accelerating growth momentum at a CAGR of 0.73%. The analysts at Technavio have categorized the global alloy wheels aftermarket as a part of the global automotive components and accessories market. The alloy wheel’s aftermarket growth is likely to be driven by factors including the aging vehicle fleet and the emerging popularity of carbon fiber alloy wheels. However, an increase in OEM fitment is one of the key challenges hindering the alloy wheel’s aftermarket growth.
Key Market Dynamics and their impact analysis is now available at Technavio, View PDF Sample
Segmentation Highlights
The alloy wheels aftermarket report is segmented by Application (passenger vehicles and commercial vehicles) and Geographic (APAC, Europe, North America, South Americaand MEA).
Regional Analysis: 61% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for alloy wheels aftermarket in APAC. Market growth in this region will be slower than the growth of the market in MEA regions. The improved and stabilized socio-economic conditions in APAC countries, especially China and Indiaare contributing to the growth of the automotive industry in the region over the forecast period.
Revenue-generating Segment Insights: The passenger car application segment held the largest alloy wheels aftermarket share in 2020. The segment will continue to account for the highest revenue during the forecast period. The segment’s growth is anticipated to be primarily driven by the growing demand for SUV alloy wheels across the world .
Get Segment-based market share contribution and regional insights, as your Request your Sample Report
Competitive Landscape
- The alloy wheels aftermarket is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market.
- To make the most of the opportunities and recover from the post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- The alloy wheels aftermarket forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Top Companies Mentioned with their Offerings
- ALCAR HOLDING GmbH: The company offers Aftermarket alloy wheels. The company offers alloy wheels through its brands such as AEZ, DOTZ, DEZENT, and DOTZ SURVIVAL, for the passenger vehicle aftermarket sector.
- BORBET GmbH: The company offers products such as BY titan polished matt, BY titan polished matt, and other products.
- Enkei Corp.: The company offers products such as GTC02, and PF09 in the racing series category. It offers TS-7 and TSR-6 in the Tuning series category and other products.
- Howmet Aerospace Inc.: The company offers lightweight aluminum wheels. The company offers alloy wheels under the brand, Alcoa.
- Iochpe-Maxion SA: The company offers steel wheels and aluminum light vehicle wheels.
Some more companies covered in the report are:
- RONAL AG
- Superior Industries International Inc.
- TSW Group
- Wheel Pros LLC
- YHI INTERNATIONAL Ltd.
- Want to know about product offerings and strategic initiatives of the contributing vendors, Download Sample Report
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