The increased demand for lightweight materials will drive the automotive wheel aftermarket. However, maintaining a balance between performance, cost and weight creates a barrier to the growth of the automotive wheel aftermarket.
New York, April 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Automotive Wheels Aftermarket by Aftermarket, Vehicle, Coating, Material, Rim Size, Product, Distribution & Region – Global Forecast to 2027” – https: //www.reportlinker.com/p05727674/?utm_source=GNW
Strict environmental regulations for zero-VOC or zero-VOC coatings will propel the growth of powder coatings over the forecast period.
The powder coatings segment is the fastest growing and fastest growing automotive wheel aftermarket segment. Powder coatings are environmentally friendly and are expected to grow rapidly due to unique characteristics such as high resistance to corrosion, chipping, high quality finish and abrasion.
It also provides protection against humidity, heat and chemicals. Additionally, these powder coatings emit only a small amount of VOCs.
The main growth drivers for the powder coatings segment are waste reduction and increasingly stringent environmental regulations for VOC-free or VOC-free coatings.
North America is expected to register the largest market during the forecast period.
North America is the largest aftermarket for automotive wheels. North America is home to major automobile manufacturers such as Ford Motor Company, General Motors, and Tesla.
The North American automobile industry has witnessed rapid development due to favorable policies adopted by governments in the manufacturing sector. The United States is estimated to account for the largest share of the North American automotive wheel aftermarket market during the forecast period.
Players like Maxion Wheels, Superior Industries, Accuride Corporation, Howmet Aerospace, Central Motor Wheels of America, Prime Wheel Corporation, Topy America, Inc., etc., are some of the major automotive wheel manufacturers across the globe. The American automotive industry is very keen on innovation, technology and the development of high-performance, fuel-efficient vehicles.
Factors such as stringent emission standards and growing demand for vehicle dynamics are expected to propel the automotive wheel aftermarket in North America.
In-depth interviews were conducted with CEOs, CMOs, other chief innovation and technology officers, and executives from various key organizations operating in the wheel aftermarket.
• By type of business: level I – 42%, level II – 40% and level III – 18%,
• By designation: level C – 57%, level D – 29% and others – 14%
• By region: North America – 29%, Europe – 30%, Asia-Pacific – 28%, Rest of the world – 13%
The automotive wheel aftermarket includes major manufacturers such as RONAL Group (Switzerland), BORBET Gmbh (Germany), Enkei Corporation (Japan), Superior Industries (USA) and Maxion Wheels (USA).
The market study covers the aftermarket for wheels across all segments. It aims to estimate the market size and the future growth potential of this market across various segments, by aftermarket type, vehicle type, coating type, material type, rim size and region.
The study also includes an in-depth competitive analysis of key market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Purchasing the Report:
The report will assist market leaders/new entrants in this market with information on the closest approximations of revenue figures for the entire Automotive Wheel Aftermarket and sub-segments. This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses and plan appropriate go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05727674/?utm_source=GNW
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