Automotive Wheels Aftermarket - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automotive Wheels Aftermarket Market is accounted for $3.26 billion in 2019 and is expected to reach $5.01 billion by 2027 growing at a CAGR of 5.5% during the forecast period. Rising demand for lightweight equipment and increase in spending on aftermarket product are the major factors driving the market growth. However, volatility in raw material prices is restraining the market growth.
Automotive wheels aftermarkets are circular objects that are utilized to support the axels of the vehicle and are the objects on which the tires are fitted on. The wheels available in the aftermarket are generally lighter in weight than the ones that a vehicle usually comes fitted in without compensating on the strength of the wheels. In contrast to the original wheels they have significantly enhanced aesthetic appeal.
Based on vehicle type, the passenger car segment is likely to have a huge demand due to rising demand for racing car wheels and surge in demand for appealingly pleasant and creating features in the vehicles. Likewise, the utilization of carbon fiber composite in racing cars wheels, provide combination of high quality and lightweight properties. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to growing demand in emerging economies, such as India, Japan, and China. Favorable government regulations and the growing automotive industry are also some of the major factors driving the growth of the market.
Some of the key players profiled in the Automotive Wheels Aftermarket Market include Arconic, Automotive Wheels, BBS Kraftfahrzeugtechnik, Borbet GmbH, CM Wheels, Enkei Corporation, Konig, LKQ Corporation, Maxion Wheels, Rays Engineering, Ronal Group, SSR Wheels, The Carlstar Group, Tsw Alloy Wheels and Vossen Wheels.
Distribution Channels Covered:
• Warehouse & Distribution (W&D)
• Refurbished Wheel Fitment
• New Wheel Replacement
Rim Sizes Covered:
• Above 21 Inch
• 19–21 Inch
• 16–18 Inch
• 13–15 Inch
• Other Materials
Vehicle Types Covered:
• Commercial Vehicle
• Passenger Car
Coating Types Covered:
• Powdered Coating
• Liquid Coating
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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