PUBLISHER: Orion Market Research | PRODUCT CODE: 1159291
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159291
Global Automotive Wheels Aftermarket Size, Share & Trends Analysis Report, By Vehicle Type (Passenger Cars, Commercial Vehicles and Others), By Aftermarket Type (New Wheel Replacement and Refurbished Wheel Fitment), By Material Type (Alloy, Steel and Others), By Coating Type (Liquid Coating and Powdered Coating), By Product Type (Regular Wheels and High-Performance Wheels), By Distribution Chanel (Retail and Wholesaler and Distributors), By Rim Size (13-15 Inch, 16-18 Inch, 19-21 Inch and Above 21 Inch), Forecast (2022-2028).
The global automotive wheels aftermarket is anticipated to grow at a substantial CAGR during the forecast period. The growth of the global automotive wheels aftermarket during the forecast period can be attributed to the increasing vehicle production across the globe. Additionally, the increasing use of lightweight materials such as alloy is driving the growth of the market. Additionally, the growing demand and development of lightweight wheels as well as the rising leasing and rental automotive services is also boosting the growth of the market.
The global Automotive Wheels Aftermarket market is segmented based on vehicle type, aftermarket type, material type, coating type, product type, distribution channel and rim size. Based on the vehicle type, the market is sub-segmented into passenger cars, commercial vehicles and others. Based on the aftermarket type, the market is sub-segmented into new wheel replacement and refurbished wheel fitment. Based on the material type, the market is sub-segmented into alloy, steel and others. Based on the coating type, the market is sub-segmented into the liquid coating and powdered coating. Based on the product type, the market is sub-segmented into regular wheels and high-performance wheels. Based on the distribution channel, the market is sub-segmented into retail and wholesaler and distributor. Based on the rim size, the market is sub-segmented into 12-15 inches, 16-18 inches, 19-21 inches, and above 21 inches.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific holds the major share in the market due to the growing demand for automobiles in the region. Furthermore, North America is the second-highest region to hold the market share due to the increasing proliferation of hybrid electric automobile vehicles and rising stringent vehicle efficiency norms in the region.
The major companies serving the global automotive wheels aftermarket include Borbet GmbH, Enkei group, Maxion Wheels, Ronal Group, Superior Industries, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, partnerships and collaborations, and geographical expansion, to stay competitive in the market. For instance, in September 2021, Borbet announced the launch of a rim for light commercial vehicles and caravans. It is suitable for vehicles with wheel loads of up to 1,250 kilograms such as the VW Crafter, Amarok, T5 and T6, Mercedes V-Class, among others.
Research Methodology
The market study of the global automotive wheels aftermarket is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: