High Performance Wheels Market Revenue to Exceed USD 19 Bn by 2026: Global Market Insights, Inc.
SELBYVILLE, Del., Dec. 9, 2019 /PRNewswire/ -- According to latest report "High Performance Wheels Market by Material (Aluminum, Steel, Magnesium, Carbon Fiber), Vehicle Class (Premium Compact, Entry-Level Luxury, Mid-Size Luxury), End Use (OEM, Aftermarket), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of high performance wheels will surpass $19 billion by 2026. Rising premium vehicle demand around the world and the introduction of new product series by the manufactures shall drive product market growth during the forecast period.
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Some major findings of the high performance wheels market report include:
-- The rising demand of premium vehicles can be witnessed around the globe,
especially in the emerging economies people are preferring premium
vehicles than entry-level vehicles. For example, in India, in 2018, the
premium compact segment sold around 408,000 units, more than entry-level
cars.
-- In 2016, U.S. Energy Department announced USD 137 million investment in
commercial and passenger vehicles. Such initiatives are likely to open
new avenues for new product development.
-- The Middle East and Africa are witnessing degrowth in the economy
however, government initiatives to boost the private sector shall
stabilize the economy. Region is very important for the high-performance
wheels market.
-- The recovering European auto sector shall drive the product demand over
the forecast timeframe.
-- Key players involved in the industry are Iochpe-Maxion, Konig Wheels, OZ
S.p.A, Carbon Revolution, Alcoa Wheels, HRE Performance Wheels, Konig
Wheels, BBS ALCAR Holding, Euromax Wheels, etc. Increasing production
capacity and new product launches are major strategies adopted by
manufacturers.
Wheels are not profitable until they attain over 65% capacity utilization. High-performance wheel production is not labor-exhaustive and raw materials and energy costs form a significant part of the total cost. As wheels are light weighted, transport costs become an important factor, making it uneconomic to be transported over long distances. In automotive wheel production, the investment cost is not as high but still significant. Weight reduction concern and developing aesthetic looks are also the factors favoring high-performance wheels market demand.
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High demand for premium compact vehicles, sports and luxury vehicles from emerging markets are likely to increase the high-performance wheels market penetration. High-performance wheels' consumption per vehicle has increased due to changing consumer preferences in style trends. Insurance claim offered after the damage is the reason for the consumption of the aftermarket replacement segment. Insurance claims cannot be made on the original equipment; therefore, there is a tendency of consumer preference shift towards the aftermarket. High usage of premium vehicles and development of some regions including GCC countries and Turkey due to a rise in disposable income likely to have a very positive impact over the industry. Additionally, easy access to finances and cheap natural gas coupled with abundant availability of raw materials, such as aluminum and magnesium, are expected to uplift the market production of high-performance wheels.
Aesthetics and performance are very important for wheels. New designs, looks and quality improvement are some of the factors players are trying to enhance. For instance, in Nov 2016, Wheel Pros LLC and KMC Wheels launch Rockstar which allows customers to customize their wheels with off-shelf accessories.
Browse key industry insights spread across 293 pages with 219 market data tables & 14 figures & charts from the report, "High Performance Wheels Market Size 2019-2026" in detail along with the table of contents @
https://www.gminsights.com/industry-analysis/high-performance-wheels-market
Table of Contents (ToC) of the report:
Chapter 3 High Performance Wheels Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2016 - 2026
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.4 Raw material trends
3.5 Global automotive wheels market overview
3.5.1 Current automotive wheels trend
3.5.2 Current consumer preferences
3.6 Pricing trends
3.6.1 Cost structure analysis, 2018
3.7 Technology & innovation
3.7.1 Casting Technology
3.7.1.1 Low Pressure Die Casting (LPDC)
3.7.1.2 High Pressure Die Casting (HPDC)
3.7.1.3 Gravity Casting
3.7.2 Flow Forming Technology
3.7.3 Forging Technology
3.7.4 High Light Technology (HLT)
3.8 Automotive industry landscape, by region
3.9 Regulatory landscape
3.9.1 North America
3.9.2 U.S.
3.9.3 EU
3.9.4 China
3.9.5 Japan
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 Competitive landscape, 2018
3.13.1 Strategy dashboard
3.14 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/high-performance-wheels-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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By 2026, Global High Performance Wheels Market revenue to exceed US$19 Billion: GMI
The high performance wheels market demand during the forecast period will be driven by weight reduction concern and developing aesthetic looks.
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Infographic: High Performance Wheels Marke 2019-2026 Report
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