The market for automotive wheel rims is anticipated to reach US$ 44,944.6 million in 2022 and to rise at a robust 6.20% CAGR from 2022 to 2032, reaching US$ 82,020.5 million by that year.
Wheel Rims is outer edge of a wheel, which are designed to hold tyre. Wheel rims must be strong enough to bear vehicle weight and withstand forces caused by operation. Materials which are used to produce wheels have become sophisticated as a design and materials such as steel, non-ferrous alloys aluminium, and magnesium. Alloy wheels are becoming popular due to appearance as well as lighter in terms of weight than the steel wheels.
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Aluminium act as a conductor of heat, alloy wheels dissipate heat from tyres and brakes more effectively than steel wheels. Wheel rims mainly effects the braking system of a vehicle. The higher diameter wheel rim enables better airflow towards the braking system. The handling of vehicle can depends on weight of vehicle, lighter vehicles can be easily controlled in the motion of tyre. There has been tremendous developments in wheel rims industry from last couple of years. The technological advancements and innovations in the automotive wheel rims market spur new opportunities for the companies in automobile industry. Global Automotive Wheel Rims market is expected to offers lucrative market over the forecast period.
Automotive Wheel Rims Market: Drivers and restraints
There has been a healthy growth rate in the economies of Asian pacific countries, which enables propel the automotive wheel rims market. Growing disposable income of consumers along with changing the life style is expected to boost the global automotive wheel rims market. Thus, in turn, would lead to increase in demand for automotive wheel rims. Adoption of Automotive Wheel Rims has been observed to be quite less in lower and middle-income countries due to low awareness and less disposable income, this can narrow down the global automotive wheel rims market.
Automotive Wheel Rims Market: Overview
Global Automotive Wheel Rims market is gaining upsurge across the globe due to increased awareness among automobile Industry. The innovations in wheel rims enables better performance of vehicle. The global automotive wheel rims market expected to witness a significant CAGR as well as annual growth rates over the forecast period.
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Automotive Wheel Rims Market: Key players
Some of the key players are
- TSW alloy Wheels
- Euromax Wheel
- Maxion Wheels
- Voxx Wheel
- MHT Luxury Wheels
- Sota Offroad
- Status Wheels (TUFF A.T)
- Fuel Offroad Wheels
- Wheel Pros LLC.
Automotive Wheel Rims Market: Segmentation
Global Automotive Wheel Rims Market can be segmented as following types
By Product Type
- Wire Spoke Wheel Rims
- Steel Disc Wheel Rims
- Light Alloy Wheel Rims
- Aluminium Alloy Wheel Rims
- Magnesium Alloy Wheel Rims
- Titanium Alloy Wheel Rims
- Chrome Wheel Rims
- Teflon Wheel Rims
By Size
- 13”-20”
- 21”-25”
- 25”-30”
By End User
- Manufacturing Industry
- Workshops
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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