The Latest Released Automotive Wheel Aftermarket market study has evaluated the future growth potential of Global Automotive Wheel Aftermarket market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential drivers, challenges, opportunities, and restraints in the Automotive Wheel Aftermarket market. The study includes market share analysis and profiles of players such as Maxion Wheels (United States), Ronal Group (Switzerland), Borbet GmbH (Germany), Enkei Corporation (Japan), Howmet Aerospace (United States), The Carlstar Group (United States), Central Motor Wheel of America (United States), Accuride Corporation (United States), Vossen Wheels (United States), Tsw Alloy Wheels (India).
The Automotive Wheel Aftermarket market size is estimated to reach by USD 9.5 Billion at a CAGR of 8.5% by 2030. The report includes historic market data from 2019 to 2023. The Current market value is pegged at USD 6.23 Billion.
If you are a Automotive Wheel Aftermarket manufacturer and would like to check or understand the policy and regulatory proposals, designing clear explanations of the stakes, potential winners and losers, and options for improvement then this article will help you understand the pattern with Impacting Trends. Click To get SAMPLE PDF (Including Full TOC, Table & Figures) https://www.htfmarketintelligence.com/sample-report/global-automotive-wheels-aftermarket-market
Definition:
The Automotive Wheel Aftermarket refers to the segment of the automotive industry that deals with the manufacturing, distribution, and sale of wheels and related components after the original sale of the vehicle. This market includes products such as alloy wheels, steel wheels, and wheel accessories, which are often used for upgrading, customizing, or replacing the original wheels on vehicles.
Market Trends:
- Increasing consumer interest in vehicle customization for aesthetic and performance reasons is driving demand for aftermarket wheels.
- Development of lightweight materials like carbon fiber and advanced manufacturing processes are leading to more durable and performance-oriented wheels.
- As EVs become more prevalent, the need for specialized wheels designed for these vehicles is growing.
Market Drivers:
- Increasing average age of vehicles leads to higher demand for replacement parts, including wheels.
- Enthusiasts seeking to improve vehicle performance drive demand for high-performance aftermarket wheels.
- Desire for unique and stylish vehicle appearances boosts the aftermarket wheel market.
Market Opportunities:
- Growing automotive industries in emerging economies present significant opportunities for market expansion.
- Integration of smart technologies, such as sensors for tire pressure monitoring, offers new avenues for innovation.
- Collaborating with OEMs and automotive retailers can help aftermarket manufacturers expand their market reach.
Market Challenges:
- Ensuring the quality and safety of aftermarket wheels can be challenging due to varying standards and regulations.
- The presence of counterfeit products in the market can undermine consumer trust and harm brand reputation.
- Fluctuations in raw material prices and supply chain disruptions can affect production and pricing.
Market Restraints:
- The relatively high cost of high-quality aftermarket wheels can deter budget-conscious consumers.
- Intense competition and market saturation can limit growth opportunities for new entrants.
- Economic downturns and uncertainties can negatively impact consumer spending on non-essential items like aftermarket wheels.
Major Highlights of the Automotive Wheel Aftermarket Market report released by HTF MI
Market Breakdown by Applications: Passenger Vehicle, Commercial Vehicle
Market Breakdown by Types: New Wheel Replacement, Refurbished Wheel Fitment
Revenue and Sales Estimation — Historical Revenue and sales volume are presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well-recognized Types and end-use industry.
SWOT Analysis on Automotive Wheel Aftermarket Players
In addition to Market Share analysis of players, in-depth profiling, product/service, and business overview, the study also concentrates on BCG matrix, heat map analysis, FPNV positioning along with SWOT analysis to better correlate market competitiveness.
Demand from top-notch companies and government agencies is expected to rise as they seek more information on the latest scenario. Check the Demand Determinants section for more information.
Regulation Analysis
• Local System and Other Regulation: Regional variations in Laws for the use of Automotive Wheel Aftermarket
• Regulation and its Implications
• Other Compliances
Market Factor Analysis
Macro Economic Factors
Impact of Inflation on Demand Cycle
Ukraine War and Its Analysis
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
- Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Heat map Analysis, 3-Year Financial and Detailed Company Profiles of Key & Emerging Players: Maxion Wheels (United States), Ronal Group (Switzerland), Borbet GmbH (Germany), Enkei Corporation (Japan), Howmet Aerospace (United States), The Carlstar Group (United States), Central Motor Wheel of America (United States), Accuride Corporation (United States), Vossen Wheels (United States), Tsw Alloy Wheels (India)
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
Some Extracts from Global Automotive Wheel Aftermarket Market Study Table of Content
Global Automotive Wheel Aftermarket Market Size (Sales) Market Share by Type (Product Category) New Wheel Replacement, Refurbished Wheel Fitment] in 2024
Automotive Wheel Aftermarket Market by Application/End Users [Passenger Vehicle, Commercial Vehicle]
Global Automotive Wheel Aftermarket Sales and Growth Rate (2019-2030)
Automotive Wheel Aftermarket Competition by Players/Suppliers, Region, Type, and Application
Automotive Wheel Aftermarket (Volume, Value, and Sales Price) table defined for each geographic region defined.
Supply Chain, Sourcing Strategy and Downstream Buyers, Industrial Chain Analysis
……..and view more in the complete table of Contents
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