Automotive Wheels Aftermarket Demand and Revenue Forecast by Regions 2025

Felton, California , USA, Dec 28 2021 — /EPR Network/ —  The “Automotive wheels aftermarket” report gives a massive source to analyze the industry and other fundamental technicalities identifying with it. The examination discloses the total assessment and veritable parts of the Automotive wheels aftermarket. This study exhibits a straightforward outline of the industry, that integrates applications, blueprints, industry chain structure, and definitions. This report prepares a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.

 

The global automotive wheels aftermarket is projected to value USD 7.19 billion until 2025. It is expected to register a CAGR of 3.0% over the forecasted years, 2019 to 2025. The rising usage of vehicles leading to wear and tear of wheels coupled with trend over replacing conventional ones with alloy wheels for aesthetic improvement are projected to drive the market growth.

 

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The alloy material segment dominated the global aftermarket in 2018 owing to its adaptability for aesthetic improvement coupled with reduction in weight of vehicles. While, the increasing maintenance and replacement costs of carbon wheels is anticipated to drive the demand for alloy based wheels.

 

The liquid coating segment is anticipated to witness highest CAGR over the forecasted years, 2019 to 2025 due to their benefit of restoring the original appearance of wheels. On the other hand, the powder coating segment is majorly used to protect the wheels from damage, dings, and scratches.

 

In 2018, North America held the largest share across the global market owing to the rising demand for passenger vehicles across the working population located in countries like the U.S. and Canada. While the Asia Pacific is anticipated to register the highest growth over the consumption of automotive wheels due to the rising adoption of luxury and premium cars across China, Japan, and India.

 

The aftermarket for automotive wheels includes players such as RONAL Group, Beyern Wheels, BORBET Gmbh, Maxion Wheels, and Enkei Corporation. They are continuously engaged in development and innovation to develop more aesthetically and ergonomically advanced wheels.

 

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