The global Automotive Wheel Rims market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.

This Automotive Wheel Rims market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.

Data Bridge Market Research analyses that the automotive wheel rims market was valued at USD 20.8 billion in 2021 and is expected to reach USD 39.25 billion by 2029, registering a CAGR of 8.26% during the forecast period of 2022 to 2029.

Top Companies in the Global Automotive Wheel Rims Market:
IOCHPE (Brazil), Superior Industries Inc, (U.S.), Accuride Corporation (U.S.), STEEL STRIPS WHEELS LIMITED (India), Hitachi Metals Ltd,  (Japan), Enkei International, Inc. (Japan), CITIC Dicastal Wheel Manufacturing Co., Ltd (China), Wanfeng Group Co., Ltd. (China), BORBET GmbH (Germany), Mangels Industrial S.A. (Brazil), Mefro Wheels GmBH (Germany), TSW Alloy Wheels (U.S.), Euromax International (U.S.), Maxion Wheels (Germany), VOXX International Corp, (U.S.), MHT Luxury Wheels. (U.S.), Status Wheels (U.S.), Fuel Off-Road Wheels (U.S.), Wheel Pros Holdings, LLC (U.S.), Topy Industries Limited (Japan), among others.

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Market Segmentation:

The automotive wheel rims market is segmented on the basis of product type, vehicle type, material type, rim size and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Wire Spoke Wheel Rims
• Steel Disc Wheel Rims
• Light Alloy Wheel Rims
• Aluminium Alloy Wheel Rims
• Magnesium Alloy Wheel Rims
• Titanium Alloy Wheel Rims
• Chrome Wheel Rims
• Teflon Wheel Rims

Vehicle Type

• Passenger Cars
• Commercial Vehicles

 Material Type

• Alloy
• Steel
• Carbon Fiber

Rim Size

• 13”-15”
• 16”-18”
• 19”-21”
• Above 21”

End User

• OEM
• Aftermarket

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)

– North America (United States, Mexico & Canada)

– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)

– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)

– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

North America dominates the automotive wheel rims market in terms of market share. This is due to the growing disposable income of the consumers along with the growth of the automotive sector in this region.

Asia-Pacific is expected to be the fastest developing regions during the forecast period of 2022-2029 due to the changing lifestyle of the people in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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Market Dynamics

Drivers

• Increasing demand of alloy-based automotive wheel rims

The demands of the alloy-based automotive wheel rims are increasing due to their lightweight properties to provide better handling, making them perfect for both sedans and small cars. Moreover, the lightweight of alloys decrease the wheel rim's mass, improving the fuel economy and leading to significant cost savings. Hence, the vehicle with alloy wheels rims are expected to witness a heathy demand among the consumers during the forecast period and are expected to drive the growth rate of the automotive wheel rims market.

• Expansion of automotive industry

Rising production of vehicles is one of the major factors which is attributed to the growth of the market worldwide. For instance, according to the International Organization of Motor Vehicle manufacturers, the total number of vehicles produced in 2016 was 95 million units, which augmented to 97 million units in 2017, globally. Therefore, growing number of vehicles on road is dominating to increasing the demand for automotive wheel rims which are expected to increase the growth of the automotive wheel rims market.

Moreover, rising preferences of the luxury car owners for rim with various design, growing willingness to pay of the consumer rising production of the vehicle are some of the major factors which are also anticipated to boost the growth of the automotive wheel rims market during the forecast period of 2022-2029.

Opportunities

• Surging investments for new machineries and facilities

Manufacturers are aiming to invest in state-of-the-art TUV-approved facilities to gain global recognition in the market landscape. They are investing in brand-new machineries which provide tinted gloss black and other finishes to automotive wheel rims. The concept of the Fine Element Analysis (FEA) is mounting popular among the manufacturers of automotive wheel rims who aim to gain a competitive edge over other major market players in upcoming years.

Furthermore, rising number of innovations in automotive wheel rims along with growing awareness among the consumer will further create several opportunities for the growth of the automotive wheel rims market during the forecast period of 2022-2029.

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