PUBLISHER: Allied Market Research | PRODUCT CODE: 1414800
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414800
The Aluminum Alloy Wheel market is expected to experience a significant growth rate of 7.2% from 2023 to 2032 owing to increased application of aluminum alloy wheels in vehicles across the globe- Allied Market Research
In addition, key manufacturers indulged in the production of alloy wheels for automobiles across the globe are offering aluminum casted wheels for application in vehicles, to improve the performance of the vehicle and at the same time offer light weight components in vehicles. For instance, in September 2023, Maxion Wheels developed the latest light vehicle wheel innovation technology, Maxion BIONIC. It is developed by teams in Brazil, Mexico, the U.S, and Germany. Maxion BIONIC answers the growing demand from OEMs for affordable, stylish, and sustainable wheel solutions, especially for light vehicle programs where wheel load is increasing. Similarly, in September, 2023, Uno Minda collaborated with Kosei Aluminum Co. Ltd. to offer premium range of alloy wheels in the aftermarket.
The product offering of the key players has been considered in the research study along with their developments and strategic moves has been profiles in the research study, which represents the present scenario as well as the future plans of the companies towards the development of the industry across the globe. Moreover, numerous dynamics such as
1) the drivers, restraints, and opportunities, which have direct or indirect impact on the growth of the market have also been considered in the research study. The report includes porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. The report features the strategies adopted by key market players to maintain their foothold in the market.
The aluminum alloy wheel market is segmented into vehicle type, material, distribution channel, and region. By vehicle type, the market is segmented into two wheelers, passenger cars, and commercial vehicles. By material, the market is segmented into aluminum alloy, silicon alloy, and others. By distribution channel, the market is segmented into original equipment manufacturers (OEMs) and aftermarket. By region, the market has been segmented into North America, Europe, Asia-Pacific and LAMEA.
The key players profiled in the research study include Uno Minda, Maxion Wheels, Wheels India Limited, Enkei International, Inc., Mobis India Limited, Status Wheels, Howmet Aerospace, Image Wheels International Ltd., Wheel Pros., and Foshan Nanhai Zhongnan Aluminium Wheel Co., Ltd. as the prominent players operating in the aluminum alloy wheel market, which holds majority of market share in the market.
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