Aluminum Alloy Wheel Market Forecast, Size and Gross Margin Analysis by 2023

Posted on 2020-04-01 by researchinsights in Chemicals // 0 Comments

01^st Apr 2020 – Global Aluminum Alloy Wheel Market is expected to witness a massive growth in the forecast period. In the automotive industry, alloy wheels are the type of wheels that are made up of an alloy of aluminum or magnesium, and these alloys are a mixture of metal and other elements. They provide much greater strength over pure metals and are usually softer and ductile. Alloys of aluminum or magnesium are typically lighter for the same strength and they offer better heat conduction and produce better-quality cosmetic advent over steel wheels.

The market has been experiencing huge growth in vehicle sales across the globe along with rapid urbanization, which is bolstering the growth of the aluminum alloy wheel market. Passenger cars are significantly witnessing as they have the most demanding vehicle type by the consumers. The progressing stats of these vehicles are steadily surging, and this is augmenting the growth of the market in the current scenario.

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In addition to this, the manufacturers of aluminum alloy wheels are constantly providing novel products in order to differentiate from other key players in the market, which will eventually aid the market to develop progressively over the forecast period. Looking at this mammoth hype, existing, as well as new investors, have started investing tremendously in the R&D activities of this market and this will also encourage the manufacturers to come up with some intense innovations. Thus, the aluminum alloy wheel market will foresee an enormous development in the near future.

The aluminum alloy wheel market is segmented on the basis of product (analysis, casting, forging); by application (passenger vehicles (four wheelers, two wheelers), commercial vehicles (light commercial vehicles (LCV), heavy commercial vehicles (HCV) and by region (North America, Europe, Middle East & Africa, Latin America, Asia Pacific).

Key Vendors

Accuride
Alcoa
Borbet
Chongqing Jieli
CITIC Dicastal Wheel Manufacturing
Enkei Wheels
Foshan Nanhai Zhongnan Aluminum Wheel
Guangdong Dcenti Auto-Parts
Jiangsu United Aluminum
Kunshan Liufeng
Lianyungang Qi Chuang
MAXION
Meshindo Alloy Wheel

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Key Questions Answered in this Report

What will the market size be in 2022?
What are the key factors driving the global aluminum alloy wheel market?
What are the challenges to market growth?
Who are the key players in the aluminum alloy wheel market?
What are the market opportunities and threats faced by the key players?

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