Global High Performance Wheels Market: 2019 – 2027

global High Performance Wheels market 2019 has been considered as base year to estimate the market size and same is forecasted through 2021 to 2026 by giving special focus and different treatment to 2020. The report forecasts that High Performance Wheels market will touch USD XX Bn. by 2026.

The report has covered the market drivers, restraints and fluctuations in demand in different countries by region with special focus on demand and supply from China, India, Taiwan in Asia and USA, France, UK, Russia in western countries. Government regulations, different government’s special incentives and trade agreements in countries are going to have moderate impact on the demand and supply on High Performance Wheels market
Global High Performance Wheels Market size was valued at US $XX.48 Mn. in 2019 and is expected to grow at a CAGR of 8% over 2020-2027, to account for US $ XX Mn. in 2027.

The report has profiled twenty-seven key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in Europe region. The major country’s policies about manufacturing and its impact on automotive demand are covered in the report.

Global High Performance Wheels Market

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Market Dynamics:

Increasing demand for weight reduction, thanks to the prime focus of vehicle manufacturers in lightweighting of vehicle to improve fuel efficiency and reduce emission. Growing numbers of vehicle and government regulation regarding vehicle emission & safety, customers demand for vehicle performance, enhancement in vehicle aesthetics are the factors driving the high performance wheels market growth over the forecast period. Growth in premium vehicle around the world, especially in developing economies, peoples are preferring premium vehicles. Range of luxury vehicle manufacturers are working on entering developing countries market with introducing more affordable products in the market. High performance wheels are widely installed in luxury cars, which offers high performance, light weight and great look. According to OCIA luxary car sales in Australia

Scope of the Global High Performance Wheels Market

By Material:

• Aluminum
• Steel
• Magnesium
• Carbon Fiber

It is expected that Aluminium segment will dominate the global high performance wheels market in the forecast period.

Thanks to the properties of the aluminum wheel-like, lightweight, high durability, unlike magnesium wheel. The Aluminium segment is expected to reach US$ xx Mn by 2027 from the market size of US$ 2019. Aluminum wheels are more cost effective than mag wheel and carbon fiber wheel. High demand for luxury vehicles in the standard model that usually comes with aluminum wheels driving the aluminum wheel segment growth.

The magnesium wheel segment is the second largest segment by the growth rate. The mag wheel offers excellent strength to weight ratio and widely popular in motorsports. In October 2017, the Dymag group launched their technologically advanced die-cast wheel in F1 racing. The wheel has high heat deception property, lightweight, and resistant to corrosion.

Global High Performance Wheels Market

By Vehicle:

• Premium compact segment
• Entry-level luxury segment
• Mid-size luxury segment
• Other vehicles

The entry level luxury segment is expected to reach US$ xx Mn by 2027.

The entry-level luxury segment is expected to grow at a CAGR of xx% over the forecast period. Demand for an entry-level luxury car is increasing, as entry level luxury cars are popular choice in Indian market. The trend is expected to continue in the forecast period. Luxury carmakers operating in India are aware of market needs. They reduced the prices of vehicles to increase volume also to make it affordable for regional. The luxury vehicle automakers driving their focus in the market, the OEM like BMW, Mercedes-Benz, Jaguar Land Rover, Lexus, and Audi all started selling their standard models. The market is now filled with many choices, directly driving the demand for high-performance wheels in the market.

Regional Insights

Global High Performance Wheels Market1

Europe market is expected to grow at a CAGR of XX% during 2019-2027 to reach US$ xx Bn. by 2027.
Europe is expected to dominate the high-performance wheel market over the forecast period, Thanks to the high demand for premium vehicles and luxurious lifestyle, also major key players are operating in the region driving the demand for high-performance wheel. Rising demand for luxurious vehicles having modern features and technological changes adoption rate is driving the demand for advance wheel with high performance along with reduced emission. In 2019, European Commission announced the implementation of EC 443/2009 in order to reduce vehicle emission.

The objective of the report is to present a comprehensive analysis of the Global High Performance Wheels Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global High Performance Wheels Market dynamics, structure by analyzing the market segments and project the Global High Performance Wheels Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global High Performance Wheels Market make the report investor’s guide.
Scope of the Global High Performance Wheels Market

Global High Performance Wheels Market, By Material

• Aluminum
• Steel
• Magnesium
• Carbon Fiber
Global High Performance Wheels Market, By End-Use

• Original equipment manufacturer (OEM)
• Aftermarket
Global High Performance Wheels Market, By Vehicle

• Premium compact segment
• Entry-level luxury segment
• Mid-size luxury segment
• Other vehicles
Global High Performance Wheels Market, by Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in Global High Performance Wheels Market

• Iochpe-Maxion
• Vossen Wheels
• Work Wheels USA
• Wheel Pros
• Automotive Wheels Ltd
• Enkei Wheels
• CiTiC Dicastal Wheel Manufacturing Co., Ltd
• Ronal AG
• HRE Performance Wheels
• RAYS Co. Ltd
• Fikse Wheels
• Konig Wheels
• United Wheels Group
• SuperAlloy Industrial Company Ltd
• Weds Co. Ltd
• Performance Wheels Australia
• BBS Kraftfahrzeugtechnik AG
• Alcoa Wheels
• Accuride Corporation
• Topy Industries Limited
• Euromax Wheels
• Mandrus Wheel Company
• Nutek Forged Wheels
• Steel Strips Wheels Limited
• ALCAR Holding
• American Eagle Wheels Corporation
• Carbon Revolution, OZ S.p.A

 

The High Performance Wheels faced several challenges in 2020 including Covid lock down and sudden decrease in demand however, the demand is expected to normalize in 2021 and is expected to pick up in 2022, which is covered in the report in the growth drivers chapter.

The report has profiled key players in the market by their size and presence by regions. Since, there are limitation to profile all the kay player, representation is given to companies by region, sales revenue, expenditure on technology, expansion plans, investments received, involved in M&A.
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