What is Automotive Aluminium Alloy Wheels Market?
Automotive aluminium alloy wheels are made up by casting, forging or other machining processes with aluminium being the main alloying element. Such wheels are widely used in automotive industries as they are light in weight and provide greater strength than pure metals. Owing to light weight, aluminium wheels decreases the overall vehicle's weight thus reduces emission. Considering the growing focus towards fuel conservation and need to cut down the emission, the very market is expected to witness significant growth during forecast period.
The market study is being classified by Type (Casting, Forging and Other) and major geographies with country level break-up. According to AMA, the Global Automotive Aluminium Alloy Wheels market is expected to see growth rate of 1.0%
Iochpe-Maxion [Brazil], CITIC Dicastal [China], Borbet GmbH [Germany], CMW Resistance Welding Products [United States], Superior Industries Inc. [United States], Topy INDUSTRIES LIMITED [Japan], Accuride Wheels [United States], Alcoa Corporation [United States], Ronal GROUP [Switzerland], Wanfeng Group Co., Ltd [China], Lizhong Group [China], Jingu wheel [China], DFW, Uniwheel Group [Germany], ALCAR HOLDING GMBH [Germany], Zhejiang Jinfei [China], Enkei Wheels [India], Foshan Nanhai Zhongnan Aluminium Wheel Co.,Ltd [China], YHI INTERNATIONAL LIMITED [Singapore] and Zhejiang Yueling Co., Ltd [China] are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Foshan Nanhai Anchi Aluminum [China], Guangdong Dcenti Auto-Parts Stock Limited Company [China], Kunshan Liufeng Machinery Industry Co. Ltd [China] and Maxion Wheels [united States].
Research Analyst at AMA predicts that Chinese Vendors will contribute to the maximum growth of Global Automotive Aluminium Alloy Wheels market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Automotive Aluminium Alloy Wheels market by Type, Application and Region.
On the basis of geography, the market of Automotive Aluminium Alloy Wheels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2020. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Emphasizing on Vehicle Weight Reduction Backed by Stringent Government Regulations to Reduce Total Emission and Increase Fuel Efficiency
- Growing Number of Automobile Industries Especially in Asia Pacific
- Rapid Adoption of Aluminium Alloy Wheels in Electric Vehicles (EV) and Hybrid Vehicles
- Rising Demand for Customization by Consumer as Aluminium Wheels are Aesthetically Appealing
- Repairing of Automotive Aluminium Alloy Wheels is a Cumbersome Task
- High Cost of Aluminium Alloy Wheels
- Risk from 3rd Generation AHSS (Advanced High Strength Steel) Which is also Known as Nano Steel
- With Advancement in Technologies, Prices are Expected to Fluctuate and Installation Rate in Commercial Vehicles too will Increase
- Rising Demand of Electrical and Hybrid Vehicles
- Defects in Casting of Aluminium Alloys
- Effective Management of Supply Chain
Market Leaders and some development strategies
June 2018 - : Accuride Corporation completed acquisition of Mefro Wheels GmbH,a rival manufacturer of automotive wheels for passenger cars, light vehicles and commercial vehicles. The cost of transaction was not disclosed by two companies.
As Stated by Environmental Protection Agency (EPA), Fuel Economy Regulation in United States will Require Vehicle Fleet to Average 36 miles per gallon by 2025. Thus, Demand for Aluminum Alloys Wheels are Expected to Rise to Achieve Vehicle Overall Weight Reduction in order to Increase Fuel Efficiency.
Key Target AudienceOriginal Equipment Manufacturers (OEMs), Distributors/Suppliers, Research Institute / Education Institute, Potential Investors, Automotive Industries and Others