The automotive alloy wheel market is in a growth phase due to increasing demand for light weight wheels that have the same strength as steel wheels alongside having high thermal stability & ductility. Automotive alloy wheels are made from either an alloy of magnesium or aluminium or a mixture of both. Automotive alloy wheels are light weight wheels which improve the steering and speed of a car.
Since aluminium or magnesium alloy is a good conductor of heat, automotive alloy wheels decrease heat dissipation from brakes and reduce the risk of brake failure under extreme driving conditions. Automotive alloy wheels have complex geometry and satisfy the manifold design criteria, such as weight, style, performance and manufacturability. Factors such as strength to weight ration and better fuel consumption are emphasized on during the manufacturing of alloy wheels. The quality of alloy wheels is tested and checked using advanced technology devices to accomplish customers’ demand and standards of the automobile industry.
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FACTS AT A GLANCE
Companies:Borbet GmbH,Enkei,Ronal Group (Ronal Wheels),Arconic (ALCOA WHEELS),CITIC Dicastal Wheel Manufacturing Co., Ltd,MAXION Wheels,UNIWHEELS Group,Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd.,Superior Industries International,FUTEX ALLOY (CHANGSHU) Co., Ltd
Coverage: All major geographies and key segments
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Segments: Automotive Alloy Wheel Market Segmented By coating type such as Polished alloy wheel and Two toned alloy wheel with wheel size such as Compact size ( 13 inch – 16 inch), Mid-size (17 inch – 21 inch) and Large size ( 21 inch and above)
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
Increasing demand for light weight and corrosion resistant alloy wheels is increasing due to changing weather conditions, which is a key factor boosting the growth of the automotive alloy wheel market. Automotive alloy wheels support tubeless tires and also offer better grip on brakes. These are some of the benefits that are likely to increase the demand for automotive alloy wheels, which in turn, will accelerate the growth of the automotive alloy wheel market in the upcoming years. The nominal reduction in fuel consumption and precise steering handling are some of the other important factors that will drive the growth of the automotive alloy wheel market.
The demand for vehicles fitted with wheels made from heavy metal is increasing in cold countries as these wheels successfully offer resistance to skidding during snow or hail. This factor is estimated to hamper the growth of the automotive alloy wheel market in the upcoming years. In the current scenario, the preference for alloy wheels over factory fitted wheels has led to an increase in customization activity, which, in turn, will fuel sales in the aftermarket segment during the forecast period. This factor is expected to become a driver for the automotive alloy wheel market.
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