The global Automotive Wheels After market gathered revenue around USD 4.2 Billion in 2020 and market is set to grow USD 8.10 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.50% during the prediction period 2021 to 2027.The automobile industry has witnessed a continuous increase in the average weight of the vehicle owing to the rising demand for safety and comfort features. This has led to huge innovations and R&D efforts from both the OEMs and aftermarket players in increasingly using lightweight materials to reduce the overall weight of the vehicle and comply with government regulations pertaining to vehicular fuel consumption and emissions, which will boost the demand for aftermarket wheels.
A wheel is a circular metal frame with spokes or a solid disc mounted on a wheel hub. A vehicle tire is installed on the wheel frame, which is also called a rim or alloy wheel.
The new study made on Automotive Wheels After market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2027. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics.
COVID-19 Impact:
The industrial report mentions about the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The Automotive Wheels After report proficiently explains about the resulting factors and concerns of manufacturers. Researchers have also well-explained about how the producers and providers will tackle with the ongoing epidemic and the key strategies to be adopted post pandemic for turning their businesses back to normal.
Regional Insights:
The Automotive Wheels Aftermarket is segmented as North America, South America, Europe, Asia Pacific, and Middle East and Africa. Researchers have thoroughly studied about the historical market. With extensive research, experts have offered details on the current and the forecast demand made by these regions. The Automotive Wheels Aftermarket report also includes highlights on the prevailing product demanded by end users and end customers for better understanding of product demand by producers. This will help the producers and the marketing executives to plan their production quantity and plan effective marketing strategies to more buyers. Businesses can hence, increase their product portfolio and expand their global presence. Automotive Wheels Aftermarket research report further offers information on the unexplored areas in these regions to help the producers to plan promotional strategies and create demand for their new and updated products. This will again help the manufacturers to increase their customers and emerge as leaders in the near future.
Major Players Covered in this Report
The updated market research report on Automotive Wheels Aftermarket allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Significant Market Participants Operational in the Automotive Wheels Aftermarket are:
RONAL Group (Switzerland), BORBET Gmbh (Germany), Enkei Corporation (Japan), Carlstar (US), Maxion Wheels (US), CM Wheels (UK), SSR Wheels (US), LKQ Corporation (US), Arconic (US), Automotive Wheels (UK), BBS KRAFTFAHRZEUGTECHNIK (Germany), RAYS (Japan)
Market Segmentation:
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Automotive Wheels After report.
Based on vehicle type
- Passenger Cars
- Commercial Vehicles
Based on aftermarket type
- New Wheel Replacement
- Refurbished Wheel Fitment
Based on material type
- Alloy
- Steel
- Others (Carbon Fiber, Nickel)
Based on coating type
- Liquid Coating
- Powdered Coating
Based on rim size
- 13”–15” inch
- 16”–18” inch
- 19”–21” inch
- Above 21” inch
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Manufacturers
The report includes comprehensive company profiling of leading and emerging companies competing in the global Automotive Wheels Aftermarket. It provides a detailed list of players operating at a global level. The players have been listed according to the type of products they offer in the global Automotive Wheels Aftermarket and other factors. As part of the company profiling, the analysts authoring the report has provided the market entry year of each player considered for the research study. The report also offers extensive price, volume sales, and revenue analysis by the manufacturer at the global level for the period 2016-2021.
The Queries answered by Automotive Wheels Aftermarket Research Report include:
- What are the key producers, equipment suppliers, raw material suppliers, end users, distributors and traders in the Automotive Wheels Aftermarket?
- What are the crucial factors impacting the Automotive Wheels Aftermarket Growth?
- What are production processes, major problems or obstacles, and solutions to tone down the development risk?
- What is the contribution made by regional manufacturers to the overall market?
- What are the major market segment, influential trends, market potential, and key challenges that the market is witnessing?
Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
OBJECTIVES OF THE STUDY
- To analyze and forecast the Automotive Wheels Aftermarket, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global Automotive Wheels After market on the product type, and end-use industry
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Automotive Wheels After market
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