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Aluminum Alloy Wheel Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: Jun 2022
  • Pages: 131
  • SKU: IRTNTR43937
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The aluminum alloy wheel market share is expected to increase to USD 3.45 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.3%.

This aluminum alloy wheel market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aluminum alloy wheel market segmentation by application (passenger cars and commercial vehicles) and geography (Europe, APAC, North America, South America, and Middle East and Africa). The aluminum alloy wheel market report also offers information on several market vendors, including Accuride Corp., ALCAR HOLDING GMBH, BORBET GmbH, Central Motor Wheel of America Inc., CITIC Ltd., CMS Group., ENKEI WHEELS (INDIA) LTD., Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd., Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Howmet Aerospace Inc., Iochpe-Maxion SA, Minda Industries Ltd., OZ Spa, RONAL AG, Shanghai Metal Corp., Superior Industries International Inc., Topy Industries Ltd., Wanfeng Group Co. Ltd., Wheel Pros LLC, and YHI Corp. (S) Pte Ltd among others.

What will the Aluminum Alloy Wheel Market Size be During the Forecast Period?

Aluminum Alloy Wheel Market Size

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Aluminum Alloy Wheel Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The adoption of new or improved emission standards is notably driving the aluminum alloy wheel market growth, although factors such as fluctuations in raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aluminum alloy wheel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Aluminum Alloy Wheel Market Driver

  • The adoption of new or improved emission standards is notably driving the aluminum alloy wheel market growth.  
  • Enforcement of stringent emission norms has necessitated the use of automotive pumps, especially in developing economies in APAC and MEA. 
  • The Government of India will be implementing the BS-VI by April 2020, for new vehicles, and by April 2021, for existing vehicles. 
  • The introduction of new emission standards or modification of existing standards requires automotive component manufacturers to be proactive in adopting technologies in line with these standards.
  • The adoption of new or improved emission standards mandates the incorporation of new or advanced technologies, which will have a positive impact on the growth of the market in focus during the forecast period.

Aluminum Alloy Wheel  Market Trend

  • The advent of carbon fiber alloy wheels is one of the key aluminum alloy wheel market trends facilitating market growth. 
  • The aluminum alloy wheel is lightweight, however, the processing of an aluminum alloy wheel can affect its strength and stiffness.
  • Carbon fiber alloy wheels are one of the main substitutes for aluminum alloy wheels as carbon fiber is stronger than aluminum and half its weight.
  • The aluminum alloy wheels can deform under a slight impact, whereas carbon fiber alloy wheels remain intact.
  • The carbon fiber wheels offer better performance than aluminum alloy wheels even if the weight of a carbon fiber alloy wheel is reduced by half of that of an aluminum alloy wheel. 
  • Carbon fiber alloy wheels help in meeting emission targets due to their lightweight feature. Thus, the increase in the adoption of fiber alloy wheels will impact the global aluminum alloy wheel market.

Aluminum Alloy Wheel Market Challenge

  • One of the major challenges impeding the aluminum alloy wheel market growth is the fluctuations in raw material prices, such as teel, aluminum, nickel, copper, rubber, plastics, and glass.
  • A rise in the prices of raw materials increases the manufacturing cost of automobiles and impacts the profitability of manufacturers as they operate in a highly competitive market. 
  • The increase in the prices of raw materials raises the production cost for vendors of aluminum alloy wheels and reduces their profit margins.
  • Market vendors are forced to pass on these costs to vehicle manufacturers by raising the price of aluminum alloy wheels.
  • The increase in the prices of raw materials raises the cost of manufacturing aluminum alloy wheels and reduces the profit margins of vehicle manufacturers.
  • Vehicle manufacturers are forced to experiment with cheaper substitutes of alloy wheels to gain a competitive edge in the market. This may hamper the concerned market growth in the forecast years.

This aluminum alloy wheel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global aluminum alloy wheel market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aluminum alloy wheel market during the forecast period.

Who are the Major Aluminum Alloy Wheel Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accuride Corp.
  • ALCAR HOLDING GMBH
  • BORBET GmbH
  • Central Motor Wheel of America Inc.
  • CITIC Ltd.
  • CMS Group.
  • ENKEI WHEELS (INDIA) LTD.
  • Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd.
  • Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd.
  • Howmet Aerospace Inc.
  • Iochpe-Maxion SA
  • Minda Industries Ltd.
  • OZ Spa
  • RONAL AG
  • Shanghai Metal Corp.
  • Superior Industries International Inc.
  • Topy Industries Ltd.
  • Wanfeng Group Co. Ltd.
  • Wheel Pros LLC
  • YHI Corp. (S) Pte Ltd

 

This statistical study of the aluminum alloy wheel market encompasses successful business strategies deployed by the key vendors. The aluminum alloy wheel market is fragmented and the vendors are deploying growth strategies such as focusing on design, development, and production to compete in the market.

Product Insights 

  • Accuride Corp. - Under the unified segment, the company offers various products such as aluminum wheels, steel wheels, brake drums, brake rotors, slack adjusters, and hubs and assemblies.
  • Accuride Corp. - The company offers aluminum alloy wheels under the brands, Aacu-Lite, Accu-Shield, Accu-Flange, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The aluminum alloy wheel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Aluminum Alloy Wheel Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the aluminum alloy wheel market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Aluminum Alloy Wheel Market?

Aluminum Alloy Wheel Market Market segmentation by region

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40% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for aluminum alloy wheels in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing adoption of passenger cars and CVs will facilitate the aluminum alloy wheel market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic drastically impacted the regional aluminum alloy wheel market in 2020 in APAC. Wuhan, the city where the outbreak of COVID-19 originated, is one of China's major automotive production sites. However, with the introduction of COVID-19 vaccines and the resumption of production facilities in the automotive industry, the market started to recover in 2021. Thus, such factors are expected to increase the demand for aluminum alloy wheels, which, in turn, will drive the regional aluminum alloy wheel market during the forecast period.

What are the Revenue-generating Application Segments in the Aluminum Alloy Wheel Market?

Aluminum Alloy Wheel Market Segmentation

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The aluminum alloy wheel market share growth in the passenger cars segment will be significant during the forecast period. Alloy wheels enhance the visual appeal of a vehicle and provide superior heat conduction compared with steel wheels. In the past, alloy wheels were largely included in luxury vehicles. The significant increase in its adoption owing to benefits in terms of higher fuel efficiency and aesthetic appeal will drive the segment growth in the coming years.  

This report provides an accurate prediction of the contribution of all the segments to the growth of the aluminum alloy wheel market size and actionable market insights on post COVID-19 impact on each segment.

 

Aluminum Alloy Wheel Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.3%

Market growth 2022-2026

$ 3.45 billion

Market structure

Fragmented

YoY growth (%)

5.12

Regional analysis

Europe, APAC, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 40%

Key consumer countries

US, China, Japan, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accuride Corp., ALCAR HOLDING GMBH, BORBET GmbH, Central Motor Wheel of America Inc., CITIC Ltd., CMS Group., ENKEI WHEELS (INDIA) LTD., Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd., Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Howmet Aerospace Inc., Iochpe-Maxion SA, Minda Industries Ltd., OZ Spa, RONAL AG, Shanghai Metal Corp., Superior Industries International Inc., Topy Industries Ltd., Wanfeng Group Co. Ltd., Wheel Pros LLC, and YHI Corp. (S) Pte Ltd

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Aluminum Alloy Wheel Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive aluminum alloy wheel market growth during the next five years
  • Precise estimation of the aluminum alloy wheel market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the aluminum alloy wheel industry across Europe, APAC, North America, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of aluminum alloy wheel market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Passenger cars - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Passenger cars - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Passenger cars - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Passenger cars - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Passenger cars - Year-over-year growth 2021-2026 (%)
    • 5.4 Commercial vehicles - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Commercial vehicles - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Commercial vehicles - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Commercial vehicles - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Commercial vehicles - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 Europe - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Germany - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.10 France - Market size and forecast 2021-2026
      • Exhibit 70: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Accuride Corp.
              • Exhibit 89: Accuride Corp. - Overview
              • Exhibit 90: Accuride Corp. - Product / Service
              • Exhibit 91: Accuride Corp. - Key offerings
            • 10.4 BORBET GmbH
              • Exhibit 92: BORBET GmbH - Overview
              • Exhibit 93: BORBET GmbH - Product / Service
              • Exhibit 94: BORBET GmbH - Key offerings
            • 10.5 CITIC Ltd.
              • Exhibit 95: CITIC Ltd. - Overview
              • Exhibit 96: CITIC Ltd. - Business segments
              • Exhibit 97: CITIC Ltd. - Key offerings
              • Exhibit 98: CITIC Ltd. - Segment focus
            • 10.6 CMS Group.
              • Exhibit 99: CMS Group. - Overview
              • Exhibit 100: CMS Group. - Product / Service
              • Exhibit 101: CMS Group. - Key offerings
            • 10.7 ENKEI WHEELS (INDIA) LTD.
              • Exhibit 102: ENKEI WHEELS (INDIA) LTD. - Overview
              • Exhibit 103: ENKEI WHEELS (INDIA) LTD. - Product / Service
              • Exhibit 104: ENKEI WHEELS (INDIA) LTD. - Key offerings
            • 10.8 Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd.
              • Exhibit 105: Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd. - Overview
              • Exhibit 106: Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd. - Product / Service
              • Exhibit 107: Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd. - Key offerings
            • 10.9 Howmet Aerospace Inc.
              • Exhibit 108: Howmet Aerospace Inc. - Overview
              • Exhibit 109: Howmet Aerospace Inc. - Business segments
              • Exhibit 110: Howmet Aerospace Inc. - Key offerings
              • Exhibit 111: Howmet Aerospace Inc. - Segment focus
            • 10.10 Iochpe-Maxion SA
              • Exhibit 112: Iochpe-Maxion SA - Overview
              • Exhibit 113: Iochpe-Maxion SA - Business segments
              • Exhibit 114: Iochpe-Maxion SA - Key offerings
              • Exhibit 115: Iochpe-Maxion SA - Segment focus
            • 10.11 RONAL AG
              • Exhibit 116: RONAL AG - Overview
              • Exhibit 117: RONAL AG - Product / Service
              • Exhibit 118: RONAL AG - Key offerings
            • 10.12 Superior Industries International Inc.
              • Exhibit 119: Superior Industries International Inc. - Overview
              • Exhibit 120: Superior Industries International Inc. - Business segments
              • Exhibit 121: Superior Industries International Inc. - Key offerings
              • Exhibit 122: Superior Industries International Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 123: Inclusions checklist
                • Exhibit 124: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Aluminum Alloy Wheel Market market growth will increase by $3.45 billion during 2022-2026.
              The aluminum alloy wheel market market is expected to grow at a CAGR of 5.3% during 2022-2026.
              Technavio has segmented the aluminum alloy wheel market market by application (Passenger cars and Commercial vehicles) ,geography (Europe, APAC, North America, South America, and Middle East and Africa) , and geographic (APAC, Europe, North America, South America, and MEA).
              Accuride Corp., ALCAR HOLDING GMBH, BORBET GmbH, Central Motor Wheel of America Inc., CITIC Ltd., CMS Group., ENKEI WHEELS (INDIA) LTD., Foshan Nanhai Anchi Aluminum Alloy Wheels Co. Ltd., Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Howmet Aerospace Inc., Iochpe-Maxion SA, Minda Industries Ltd., OZ Spa, RONAL AG, Shanghai Metal Corp., Superior Industries International Inc., Topy Industries Ltd., Wanfeng Group Co. Ltd., Wheel Pros LLC, YHI Corp. (S) Pte Ltd are a few of the key vendors in the aluminum alloy wheel market market.
              APAC will register the highest growth rate of 40% among the other regions. Therefore, the aluminum alloy wheel market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the aluminum alloy wheel market market growth are:
              • Adoption of new or improved emission standards
              • Advent of carbon fiber alloy wheels
              The aluminum alloy wheel market market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
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              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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