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Automotive Wheel Rims Market Size, Share, Top Players, Trend, Growth Forecast to 2026
Automotive Wheel Rims Market Size, Share, Top Players, Trend, Growth Forecast to 2026
Automotive Wheel Rims Market Size, Share, Top Players, Trend, Growth Forecast to 2026

Market Highlights

Global Automotive Wheel Rims Marketis anticipated to register a CAGR of 4% between 2020 and 2026 and reach anapproximate value of USD 45 Billion in 2026. A wheel rim is a part of thewheel, which is designed to hold the tire. Wheel rims need to be strong enoughto bear vehicle weight and withstand forces generated by motion. Materials thatare used to produce wheels have become sophisticated, and steel, non-ferrousalloys, Aluminum, and Magnesium are the most common. Alloy wheels are gainingpopularity due to their appearance as well as low weight as compared to steelwheels. Aluminum acts as a conductor of heat, and alloy wheels dissipate heatfrom tires and brakes more effectively than steel wheels. Wheel rims mainlyaffect the braking of a vehicle. There have been tremendous developments in thewheel rims industry during the last couple of years.

In 2019, Asia-Pacific ContributedSignificantly to the Automotive Wheel Rims Market in Terms of Share: MRFR

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Based on region, the globalautomotive wheel rims market is segmented into North America, Europe,Asia-Pacific, and the rest of the world. Asia-Pacific accounts for a majorshare of the global automotive wheel rims market, owing to the high adoption ofautomotive wheel rims by the booming automotive sector in the region,especially in China and India. The automotive wheel rims market is segmentedbased on size, material, end user, and region. Based on size, the globalautomotive wheel rims market has been segmented into 13-15-inch, 16-18-inch,19-21-inch, and >21 inches. Based on material, the automotive wheel rimsmarket has been segmented into steel, alloy, and carbon fiber. The alloymaterial segment held a significant share and is anticipated to grow at a highrate during the forecast period due to the consumers’ increasing preference.They are highly preferred due to benefits such as being lightweight, improvingthe vehicle-handling dynamics, and enabling compliance with stringent emissionnorms. By end users, the global automotive wheel rims market has beenbifurcated into OEM and aftermarket. The OEM end-user segment held asignificant share in the global market in 2019.

Global Automotive Wheel RimsMarket is anticipated to register a CAGR of 4% between 2020 and 2026 and reachan approximate value of USD 45 Billion by 2026.

Scope of the Report

This report provides an in-depthanalysis of the global automotive wheel rims market, tracking three marketsegments across four geographic regions. The report studies key players,providing a five-year annual trend analysis that highlights the AutomotiveWheel Rims Market size and shares for North America, Europe, Asia-Pacific,and the rest of the world. The report also presents a forecast, focusing on themarket opportunities for the next five years for each region. The scope of thestudy segments the global automotive wheel rims market by size, material,end-user, and region.

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Size
13-15 Inch

16-18 Inch

19-21 Inch

>21 Inches

Material
Steel

Alloy

Carbon Fiber

End-user
OEM

Aftermarket

By Region
North America 

Asia-Pacific 

Europe

Rest of the World

Key Players

Key players in the globalautomotive wheel rims market are Accuride Corporation (US), Iochpe-Maxion(Brazil), Steel Strips Wheels (India), Superior Industries International (US),Hitachi Metals (Japan), Enkei (Japan), CiticDicastal (China), Borbet (Germany),Zhejiang Wanfeng Auto Wheel (China), Mefro Wheels (Germany), and MangelsIndustrial (Brazil), among others.

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About Market Research Future:

Market Research Future (MRFR) isa global market research firm that takes great pleasure in its services,providing a detailed and reliable study of diverse industries and consumersworldwide. MRFR's methodology integrates proprietary information with differentdata sources to provide the client with a comprehensive understanding of thecurrent key trends, upcoming events, and the steps to be taken based on thoseaspects.

Our rapidly expanding marketresearch company is assisted by a competent team of research analysts whoprovide useful analytics and data on technological and economic developments.Our deemed analysts make industrial visits and collect valuable informationfrom influential market players. Our main goal is to keep our clients informedof new opportunities and challenges in various markets. We offer step-by-stepassistance to our valued clients through strategic and consulting services toreach managerial and actionable decisions.

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