
Automotive Metal Wheel Market – Growth Assessment
The Automotive Metal Wheel Market is forecasted to witness a significant growth over the course of the forecast period according to a newly published report by Fact.MR. The study highlights the critical trends that are likely to mold the growth of the Automotive Metal Wheel Market in the forecast year 2017 to 2022. Further, the report introspects the various factors that are expected to influence the overall dynamics of the Automotive Metal Wheel Market.
The report is an essential tool for stakeholders, upcoming market players, established companies, and investors who are looking to establish a strong presence in the Automotive Metal Wheel Market landscape. A detailed understanding of the raw material suppliers, vendors, manufacturers, and other components of the supply chain is provided in report.
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Key Takeaways from the Report
- Current and future prospects of the Automotive Metal Wheel market in over the forecast period 2017 to 2022
- Opportunity analysis for investors and market players in various regional markets
- Regulatory and government policy framework relevant to the Automotive Metal Wheel Market
- Mergers, acquisitions, collaborations, and partnerships in the Automotive Metal Wheel Market
- Growth potential of the emerging market players in the Automotive Metal Wheel Market
The report caters to the following questions related to the Automotive Metal Wheel Market:
- What is the anticipated value of the Automotive Metal Wheel market in 2029?
- Who are the leading market players in the Automotive Metal Wheel Market in region 1 and region 2?
- Which region is expected to witness the highest growth in terms of value during the forecast period?
- How are market players in the Automotive Metal Wheel Market adjusting to the economic slowdown worldwide?
- Which country in region 3 is expected to have a majority of the market share during the assessment period?
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key players are manufacturing lightweight aluminum components using additive technologies-resulting in a significant reduction in resources and materials used in manufacturing per component compared to traditional industrial methods. Newer designs of components with complex shapes along with weight optimization are the some key factors resulting in a paradigm shift towards AM in automotive metal wheels manufacturing.
Manufacturers experimenting with Titanium for More Lightweight Wheels
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, manufacturers are also using carbon fiber band instead of aluminum for a significant reduction in weight and rotational inertia in automotive metal wheels. Moreover, Fact.MR also predicts growing demand for carbon fiber reinforced polymer (CFRP) for wheel rims to deliver critical thermal and mechanical performance, resulting in reduced energy consumption. The ongoing lightweighting trend in the automotive metal wheel market is pushing OEMs and manufacturers to strengthen their R&D along material innovations.
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. However, heavy steel wheels are likely to witnessed increased adoption in cold regions considering better vehicular stability in extreme winter conditions. Additionally, steel is likely to remain the most metal in the automotive metal wheel market considering its affordability.
Ongoing Design Innovations to Reinvent the Automotive Metal Wheel Landscape
To keep abreast with the requirements from OEMs and end-use consumers demanding lighter and performance-efficient wheels, manufacturers in the global automotive metal wheel market are investing in a broad range of product simulations during the wheel development phase. Product simulations including wheel stiffness for noise reduction, natural frequency analysis of wheels, and torque simulations are likely to improve the quality of metal wheels and reduce development time.
Competitive Landscape
Fact.MR’s comprehensive report on the global automotive metal wheel market, provides critical insights on the key players and their future market strategies likely to define the further course of the market. 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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About the Report
Fact.MR has comprehensively studies the global automotive metal wheel market for the assessment period of 2017-2022. The automotive metal wheel market is anticipated to record a rather sluggish CAGR in terms of revenue sales owing to the transformational shift towards light weight wheels. Covered in 14 elaborate chapters, the report offers an extensive segment-wise analysis of key regions, cross-sectional data, and forecast.
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