Aluminum Alloy Wheel Market worth $27.48 billion by 2030, growing at a CAGR of 8.59% - Exclusive Report by 360iResearch

The "Aluminum Alloy Wheel Market by Wheel Type (Casting, Forging), Alloy Type (Aluminium-Magnesium Alloys, Aluminium-Magnesium-Silicon Alloys), Finishing Type, Rim Size, Sales Channel, Vehicle Type - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Aluminum Alloy Wheel Market to grow from USD 15.86 billion in 2023 to USD 24.33 billion by 2030, at a CAGR of 6.30%.

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An aluminum alloy wheel is fabricated using an alloy of aluminum or magnesium, designed to be lighter, more aesthetically appealing, and superior in strength than standard steel wheels. The major factors driving the adoption of aluminum alloy wheels include their ability to improve a vehicle's fuel efficiency by reducing the overall weight, enhancing heat dissipation from the brakes, and potentially offering better performance. However, their susceptibility to cosmetic damage, including scratches and dents, and potentially higher repair or replacement costs impede their adoption. To address these concerns, manufacturers are continually improving manufacturing techniques such as clear-coating and powder coating to protect the wheels from environmental damage. Furthermore, advancements in recycling technologies for aluminum may also mitigate cost issues related to alloy wheel production. Growing automotive production and sales, the shift towards lightweight vehicle components for improved efficiency and performance, and increasing consumer preference for aesthetically pleasing vehicle designs are expected to drive the need for aluminum alloy wheels further.

In the Americas, especially in the U.S. and Canada, there is a high demand for lightweight and fuel-efficient vehicles, which drives the use of aluminum alloy wheels. The production techniques in this region are advanced, focusing on innovation and sustainable manufacturing practices to meet stringent environmental regulations. The APAC region, led by China, India, and Japan, is the largest and fastest-growing market for aluminum alloy wheels, owing to the expanding automotive industry, escalating demand for passenger vehicles, and increasing consumer preference for aesthetics and performance. The area is characterized by large-scale manufacturers and small to medium enterprises (SMEs) engaging in competitive pricing strategies. Companies in the APAC market leveraging cost-effective production capabilities. Meanwhile, the EMEA region presents a mature market with a strong emphasis on high-quality, premium alloy wheels. European countries, particularly Germany, Italy, and France, are known for their luxury automotive brands demanding high-end aluminum alloy wheels. Production technologies in EMEA focus on precision, design, and durability, incorporating advanced engineering practices to cater to the premium segment. Major companies in the region are emphasizing innovation, quality, and brand reputation.

Market Segmentation & Coverage:

This research report categorizes the Aluminum Alloy Wheel Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Wheel Type, market is studied across Casting and Forging. The Casting is projected to witness significant market share during forecast period.

Based on Alloy Type, market is studied across Aluminium-Magnesium Alloys and Aluminium-Magnesium-Silicon Alloys. The Aluminium-Magnesium Alloys is projected to witness significant market share during forecast period.

Based on Finishing Type, market is studied across Polished Alloy Wheel and Tow Toned Alloy Wheel. The Polished Alloy Wheel is projected to witness significant market share during forecast period.

Based on Rim Size, market is studied across 12 Inches to 17 Inches, 18 Inches to 21 Inches, and Above 22 Inches. The Above 22 Inches is projected to witness significant market share during forecast period.

Based on Sales Channel, market is studied across Aftermarket and Original Equipment Manufacturer. The Aftermarket is projected to witness significant market share during forecast period.

Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Vehicles. The Passenger Vehicles is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 36.27% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Aluminum Alloy Wheel Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Aluminum Alloy Wheel Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Aluminum Alloy Wheel Market, highlighting leading vendors and their innovative profiles. These include Accuride Corporation, ALCAR HOLDING GmbH, BORBET GmbH, Central Motor Wheel Co. Ltd., CITIC Limited, CMS Jant ve Makina San. A.Ş., Enkei Corporation, Forgeline, Foshan Nanhai Anchi Aluminum Alloy Wheels Co., Ltd., Hijoin Industrial Co., Ltd., Howmet Aerospace Inc., LEXANI Wheel Corp., Maxion Wheels LLC, MHT Luxury Wheels, Neo Wheels Ltd., Rockman Industries Ltd. by The Hero Group, Ltd., Ronal AG, Superior Industries, Inc., Topy Industries Limited, Uno Minda Limited, US Wheel Corp., Vossen Wheels, Wanfeng Auto Holding Group, Wheels India Limited, and YHI International Limited.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Aluminum Alloy Wheel Market, by Wheel Type
7. Aluminum Alloy Wheel Market, by Alloy Type
8. Aluminum Alloy Wheel Market, by Finishing Type
9. Aluminum Alloy Wheel Market, by Rim Size
10. Aluminum Alloy Wheel Market, by Sales Channel
11. Aluminum Alloy Wheel Market, by Vehicle Type
12. Americas Aluminum Alloy Wheel Market
13. Asia-Pacific Aluminum Alloy Wheel Market
14. Europe, Middle East & Africa Aluminum Alloy Wheel Market
15. Competitive Landscape
16. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Aluminum Alloy Wheel Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Aluminum Alloy Wheel Market?
3. What is the competitive strategic window for opportunities in the Aluminum Alloy Wheel Market?
4. What are the technology trends and regulatory frameworks in the Aluminum Alloy Wheel Market?
5. What is the market share of the leading vendors in the Aluminum Alloy Wheel Market?
6. What modes and strategic moves are considered suitable for entering the Aluminum Alloy Wheel Market?

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