The global automotive wheels aftermarket is anticipated to grow at a significant CAGR during the forecast period. The major factor driving the growth of the global automotive wheels aftermarket during the forecast is the increasing use of lightweight materials to reduce the overall weight of the vehicle. Additionally, engine downsizing is growing in the automotive industry to improve efficiency, mileage, and space utilization. However, the increasing adoption of electronic components to comply with government regulations about fuel consumption and emissions is increasing the weight of the car. Furthermore, lightweight wheels also offer higher torque to thrust the vehicle as well as better control. Hence, the increasing demand for lightweight materials is driving the growth of the market. Moreover, the growing demand from enthusiasts for style, performance, and ride as well as improved vehicle dynamics to drive the growth of the global automotive wheels aftermarket during the forecast period.
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The COVID-19 pandemic had impacted the global automotive wheels aftermarket to a great extent. During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns which shut down operations of various companies. Additionally, the production of vehicles and supply disruption negatively impacted the automotive industry which further affected the market growth. However, as the COVID-19 situation normalizes, the global automotive wheels aftermarket market started to recover due to the increasing adoption of new wheel replacements by enthusiasts for luxury vehicles.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Automotive Wheels Aftermarket Report by Segment
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Others
By Aftermarket Type
- New Wheel Replacement
- Refurbished Wheel Fitment
By Material Type
- Alloy
- Steel
- Others
By Coating Type
- Liquid Coating
- Powdered Coating
By Product Type
- Regular Wheels
- High-Performance Wheels
By Distribution Chanel
- Retail
- Wholesaler and Distributors
By Rim Size
- 13-15 Inch
- 16-18 Inch
- 19-21 Inch
- Above 21 Inch
Global Automotive Wheels Aftermarket Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Automotive Wheels Aftermarket market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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