A comprehensive study by Fact.MR on the global market for automotive metal wheels offers critical insights on the aforesaid market, assessed for a period of five years, 2017-2022.
[EUPRwire, Fri Jun 14 2019] The global automotive metal wheel market is anticipated to stand at a valuation of approximately US$ 92 Billion by the end of the forecast period. Fact.MR opines that increasing demand for light weight wheels for better fuel economy and vehicular performance is a major factor restraining the widespread adoption of automotive metal wheel, globally. Moreover, since metal wheels are more exposed to rust and corrosion, automotive wheel manufacturers prefer using alloy.
Aluminum alloy wheel is receiving accolades from all corners given its tremendous lightness, terrific grip on hostile terrains, advanced thermal conductivity, structural strength and better corrosion resistance; physical features of machine processing, casting and reutilizing. Alloy wheels have the capability of dissipating heat away from brake components along with providing significant fuel efficiency, faster stopping and quicker acceleration owing to reduced weight. As aluminum can be recycle easily, the aluminum alloy wheel is invaluable for energy preservation.
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Additive manufacturing —3D printing has brought a paradigm shift in automotive industry through lighter, stronger and safer products; reduced cost and contained lead times. Weight reduction is one of the pivotal aspects relating to additive manufacturing (AM). Accordingly, automotive application reaps benefits from complex geometries and sophisticated engineering materials to enhance performance and reduce weight.
Titanium is one of the most admired metals for strength and corrosion resistance vis-à-vis aluminum, however, it is inferior owing to designing, machine processing and high cost. Automotive metal wheels manufacturers have been using titanium alloy in electric vehicles as a prototype. Besides, some manufacturers are replacing aluminum with carbon fiber band to reduce rotational inertia and weight in automotive metal wheels.
The report provides in-depth view of the global automotive metal wheel market and includes the following sub-sections:
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Automotive Metal Wheel Market: Report Content
- Market Taxonomy
- Market Definition
- Market Size and Forecast
- Year-on-Year (YoY) Growth
- Key Market Dynamics including drivers, restraints, and trends
- Supply chain analysis
- Cost structure analysis
- Pricing analysis
- Raw Material Sourcing Strategy and Analysis
- List of Distributors
- Key Participants Market Presence (Intensity Map) By Region
This report presents a thorough analysis on automotive metal wheel market
which is underpinned by qualitative and quantitative assessment. Further, the report gives actionable insights on the drivers, trends, restraints, trends, opportunities, which have its considerable impact on the development of automotive metal wheel market. Moreover, the report throws light on segregation of the market to offer a coherent assessment of the automotive metal wheel.
Manufacturers of automotive metal wheels have been experimenting with Titanium alloy-especially in electric vehicles, by replacing aluminum wheel centers with titanium alloys for light weight wheels. Additionally, man
Aluminum Alloy Metal in for a Bright Future in the Global Automotive Metal Wheel Market
Superior thermal conductivity compared to Steel, more structural strength, improved grip on difficult terrains, and better corrosion resistance are some key properties pushing the demand for Aluminum alloy wheels through 2022. Enhanced scope for multiple design innovations along with better fuel economy will result in widespread consumption of alloys wheels.
Automotive Metal Wheel Market: Competitive Analysis
Fact.MR envisages that product innovations and new product launches will remain the most prominent strategy in the highly fragmented global automotive metal wheel market, to broaden the scope of their product offerings and reach to a more consumers. Owing to the significant market shift from steel wheels to aluminum wheels, Maxion Wheels recently laid the foundation for a new aluminum wheel plant in Pune, India to specifically cater to the growing demand for aluminum wheels in the region. Riding the aluminum wheels wave, Chinese wheel manufacturer CITIC Dicastal is said to build two aluminum wheels factories in Morocco, with an investment of 350 million euros. Iochpe-Maxion, CITIC Dicastal, Borbet, Superior Industries, Accuride, and Jingu Group are some key companies profiled by Fact.MR in its report on global automotive metal wheel market.
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