The automotive steel wheels market was valued at US$ 8,009.43 million in 2020 and is projected to reach US$ 10,756.13 million by 2028. The automotive steel wheels market is expected to grow at a CAGR of 4.4% during the forecast period of 2021 to 2028.
Automotive components are getting evolved at rapid rate with advancement in designs, sizes, and materials. The steel wheels are getting lighter in weight with advanced design to enhance fuel efficiency and performance of cars. Medium and heavy-duty trucks (M&HDT) ranging from class 3–8, generally use steel wheels owing to their higher weight carrying capacity as opposed to alloy wheels. Alloy wheels are not a good choice where gross vehicle weight rating is above 6 tons. However, the shifting of customer preference toward the alloy and aluminum wheels in among the key factors expected to hamper the market growth during the forecast period. Alloy wheels have gained a remarkable popularity among the high-end cars. For instance, Koenigsegg Automotive AB uses full carbon fiber wheels on its Regera car.
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The List of Companies:
- TOPY INDUSTRIES LIMITED
- STEEL STRIPS WHEELS LIMITED
- SHANGHAI BAOSTEEL AUTOPARTS CO. LTD.
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Fastco Canada
- Central Motor Wheel of America, Inc.
- ALCAR HOLDING GMBH
- Accuride Corporation
The latest research report on the “Automotive Steel Wheels Market – Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2028” provides a comprehensive assessment of the Automotive Steel Wheels market for the forecast period from 2020 to 2028, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Automotive Steel Wheels market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Automotive Steel Wheels Market in order to help decision makers with various strategic insights and future outlook. The Automotive Steel Wheels market is expected to witness continued growth during the forecast period from 2020 to 2028.
This is a professional and in-depth study on the current state of the Automotive Steel Wheels Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Automotive Steel Wheels Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.
The report focuses on global major leading Automotive Steel Wheels Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.
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Reasons to Buy
- Highlights key business priorities to assist companies realign their business strategies.
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- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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