Press release
Automotive Wheel Rims Market Growth Drivers and Opportunities 2024-2033
The new report published by The Business Research Company, titled ""Automotive Wheel Rims Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the automotive wheel rims market size has grown strongly in recent years. It will grow from $38.88 billion in 2023 to $41.87 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The automotive wheel rims market size is expected to see strong growth in the next few years. It will grow to $56.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
Download Free Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=16617&type=smp
Rising Vehicle Production Fuels Growth In The Automotive Wheel Rim Market
The rising production of vehicles is expected to propel the growth of the automotive wheel rim market going forward. Vehicle production is growing due to increasing consumer demand, expanding markets, and advancements in technology driving automotive innovation. Automotive wheel rims are essential components that provide a stable base for mounting tires, ensure an airtight seal, offer structural support, and help distribute the vehicle's weight evenly across the wheels, enhancing stability and handling. For instance, in 2023, according to the International Organization of Automobile Manufacturers, a France-based trade association, global motor vehicle production increased from 84.83 million in 2022 to 93.55 million in 2023. Therefore, the rising production of vehicles is driving the growth of the automotive wheel rim market.
Innovative Developments In The Automotive Wheel Rims Market
Major companies operating in the automotive wheel rims market are developing innovative products, such as aluminum alloy wheels, to better serve customers with advanced features. Aluminum alloy wheels are wheels made from a combination of aluminum and other metals or elements to enhance their properties for use in vehicles. These wheels are lighter and more durable compared to traditional steel wheels, offering benefits such as improved handling, fuel efficiency, and aesthetics. For instance, in September 2023, Uno Minda Limited, an India-based battery manufacturing company, collaborated with Kosei Aluminum Co., Ltd., a Japan-based manufacturer of aluminum wheels, to launch a new premium range of alloy wheels in India. These alloy wheels are crafted to deliver enhanced vehicle handling and fuel efficiency, ensuring optimal performance on Indian roads. They also emphasize aesthetic appeal, offering a range of designs that cater to diverse tastes in the automotive enthusiast community.
The automotive wheel rims market covered in this report is segmented -
1) By Product Type: Wire Spoke Wheel Rims, Steel Disc Wheel Rims, Light Alloy Wheel Rims, Aluminum Alloy Wheel Rims, Magnesium Alloy Wheel Rims, Titanium Alloy Wheel Rims, Chrome Wheel Rims, Teflon Wheel Rims
2) By Material Type: Alloy, Steel, Carbon Fiber
3) By Application: Two Wheelers, Cars, Heavy Vehicles, Buses, Other Applications
4) By End User: Original Equipment Manufacturer, Aftermarket
Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=16617&type=discount
Major companies operating in the automotive wheel rims market are Alcoa Wheels, Maxion Wheels, Wanfeng Auto Holding Group Co. Ltd., Superior Industries International Inc., Ronal AG, BORBET GmbH, Steel Strips Wheels Ltd., Wheel Pros LLC, Mangels Industrial SA, American Eagle Wheel Corporation, Enkei International Inc., Accuride Corporation, Team Dynamics Motorsport, TSW Alloy Wheels, Vossen Wheels, Fuel Off-Road Wheels, CITIC Dicastal Wheel Manufacturing Co. Ltd., Konig Wheels, SOTA Offroad, Euromax Corporation, MHT Luxury Alloys, CM Wheels Ltd., Uniwheels AG
Contents of the report:
1. Executive Summary
2. Automotive Wheel Rims Market Report Structure
3. Automotive Wheel Rims Market Trends And Strategies
4. Automotive Wheel Rims Market - Macro Economic Scenario
5. Automotive Wheel Rims Market Size And Growth
…..
27. Automotive Wheel Rims Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/automotive-wheel-rims-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
As per the report, the automotive wheel rims market size has grown strongly in recent years. It will grow from $38.88 billion in 2023 to $41.87 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The automotive wheel rims market size is expected to see strong growth in the next few years. It will grow to $56.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
Download Free Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=16617&type=smp
Rising Vehicle Production Fuels Growth In The Automotive Wheel Rim Market
The rising production of vehicles is expected to propel the growth of the automotive wheel rim market going forward. Vehicle production is growing due to increasing consumer demand, expanding markets, and advancements in technology driving automotive innovation. Automotive wheel rims are essential components that provide a stable base for mounting tires, ensure an airtight seal, offer structural support, and help distribute the vehicle's weight evenly across the wheels, enhancing stability and handling. For instance, in 2023, according to the International Organization of Automobile Manufacturers, a France-based trade association, global motor vehicle production increased from 84.83 million in 2022 to 93.55 million in 2023. Therefore, the rising production of vehicles is driving the growth of the automotive wheel rim market.
Innovative Developments In The Automotive Wheel Rims Market
Major companies operating in the automotive wheel rims market are developing innovative products, such as aluminum alloy wheels, to better serve customers with advanced features. Aluminum alloy wheels are wheels made from a combination of aluminum and other metals or elements to enhance their properties for use in vehicles. These wheels are lighter and more durable compared to traditional steel wheels, offering benefits such as improved handling, fuel efficiency, and aesthetics. For instance, in September 2023, Uno Minda Limited, an India-based battery manufacturing company, collaborated with Kosei Aluminum Co., Ltd., a Japan-based manufacturer of aluminum wheels, to launch a new premium range of alloy wheels in India. These alloy wheels are crafted to deliver enhanced vehicle handling and fuel efficiency, ensuring optimal performance on Indian roads. They also emphasize aesthetic appeal, offering a range of designs that cater to diverse tastes in the automotive enthusiast community.
The automotive wheel rims market covered in this report is segmented -
1) By Product Type: Wire Spoke Wheel Rims, Steel Disc Wheel Rims, Light Alloy Wheel Rims, Aluminum Alloy Wheel Rims, Magnesium Alloy Wheel Rims, Titanium Alloy Wheel Rims, Chrome Wheel Rims, Teflon Wheel Rims
2) By Material Type: Alloy, Steel, Carbon Fiber
3) By Application: Two Wheelers, Cars, Heavy Vehicles, Buses, Other Applications
4) By End User: Original Equipment Manufacturer, Aftermarket
Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=16617&type=discount
Major companies operating in the automotive wheel rims market are Alcoa Wheels, Maxion Wheels, Wanfeng Auto Holding Group Co. Ltd., Superior Industries International Inc., Ronal AG, BORBET GmbH, Steel Strips Wheels Ltd., Wheel Pros LLC, Mangels Industrial SA, American Eagle Wheel Corporation, Enkei International Inc., Accuride Corporation, Team Dynamics Motorsport, TSW Alloy Wheels, Vossen Wheels, Fuel Off-Road Wheels, CITIC Dicastal Wheel Manufacturing Co. Ltd., Konig Wheels, SOTA Offroad, Euromax Corporation, MHT Luxury Alloys, CM Wheels Ltd., Uniwheels AG
Contents of the report:
1. Executive Summary
2. Automotive Wheel Rims Market Report Structure
3. Automotive Wheel Rims Market Trends And Strategies
4. Automotive Wheel Rims Market - Macro Economic Scenario
5. Automotive Wheel Rims Market Size And Growth
…..
27. Automotive Wheel Rims Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/automotive-wheel-rims-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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