Authored By: Sarah
18 Oct 2023

Aluminum Alloy Wheel Market  Analysis | APAC to Dominate Market Growth through 2023-2027

The adoption of improved emission standards, the benefits of aluminum over conventional materials in alloy wheels, and the growing demand for lightweight vehicles are transforming the Aluminum Alloy Wheel Market. It is estimated to exhibit growth at a CAGR of 5.49% between 2022 and 2027 followed by USD 3,629.04 Mn revenue growth.

Quick Info: Stringent environmental regulatory norms including the Commission Regulation (EU) 2019/318 and Commission Regulation (EU) 2018/1832 force automakers to use advanced automotive parts including aluminum alloy wheels to help minimize the overall weight of the vehicle, thus improving fuel efficiency and reducing the carbon footprint

Technavio has been monitoring the Global Aluminum Alloy Wheel Market's growth trajectory through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

APAC to Lead Market Growth

41% of the growth of the global market during the forecast period will originate from APAC. One more region offering significant growth opportunities to manufacturers is Europe. Key countries that are significantly contributing to the global aluminum alloy wheel market growth in Europe include Germany, France, Italy, Spain, and the UK.

Aluminum Alloy Wheel Market size, Aluminum Alloy Wheel Market share, Aluminum Alloy Wheel Market analysis,

APAC to Lead Aluminum Alloy Wheel Market Globally

Some of the prominent car manufacturers are based in Europe which include BMW AG (BMW), AUDI AG (AUDI), and Daimler AG (Daimler).  

To add furthermore, Accuride Corp., ALCAR HOLDING GMBH, BORBET GmbH, Capricorn Motors Pvt. Ltd, CITIC Ltd., Enkei Corp., Fuel Off-Road Wheels, Howmet Aerospace Inc., Image Wheels International Ltd, Lizhong Group, MAXION Wheels, Minda Industries Ltd., RONAL AG, Shanghai Metal Corp., Topy Industries Ltd., Toyota Motor Corp., are some of the leading market participants when it comes to Aluminum Alloy Wheel Market

Technavio's report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment along with profiled analysis of the market pioneers. Download our sample report to discover more aspects of the market growth with data-backed analysis.

Aluminum Alloy Wheel Market: Key Highlights of the Report for 2023-2027

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive Aluminum Alloy Wheel Market growth during the next five years
  • Precise estimation of the Aluminum Alloy Wheel Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the aluminum alloy wheel industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Aluminum Alloy Wheel Market Players.

Browse through our related report for more insights: Aluminum Pigment Market by Application, Type and Geography- Forecast and Analysis 2023-2027

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