Automotive Wheels Aftermarket worth $4.1 billion by 2027 - Exclusive Report by MarketsandMarkets™

1. Automotive Wheels Aftermarket worth $4.1 billion by 2027 - Exclusive Report by MarketsandMarkets™ NEWS PROVIDED BY MarketsandMarkets 28 Mar, 2022, 06:30 ET  CHICAGO, March 28, 2022 /PRNewswire/ -- According to the new market research report "Automotive Wheels Aftermarket by Aftermarket (New Wheel Replacement & Refurbished Wheel Fitment), Vehicle (PC, CV), Coating, Material, Rim Size (13-15 Inch, 16-18 Inch, 19-21 Inch, Above 21 Inch), Product, Distribution & Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Automotive Wheels Aftermarket is projected to grow at a CAGR of 3.5% from USD 3.4 billion in 2022 to reach USD 4.1 billion by 2027. Browse in-depth TOC on "Automotive Wheels Aftermarket" 214 – Tables 48 – Figures          235 – Pages Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 179305672 The growth of the Automotive Wheels Aftermarket is in?uenced by factors such as accident rates, changing consumer preferences for stylish wheels, and the growing number of  automobile enthusiasts in Europe and North America. Environmental regulations in Europe

2. mandating a reduction in CO2 is estimated to play a key role in the market over the forecast period as it will put the onus on manufacturers to develop and manufacture wheels made up of alloys and other lightweight materials which Will be one of the key driving factors. Passenger Cars: Increased passenger car sales and better vehicle handling is expected to drive the Automotive Wheels Aftermarket The passenger cars segment is the largest of all segments of the Automotive Wheels Aftermarket and is expected to witness signi?cant growth during the forecast period. The growing trend of engine downsizing and vehicle weight reduction without compromising vehicle performance has accentuated the need for wheels made of advanced materials. Passenger cars are now using lightweight alloy wheels that improve the performance of the vehicle. Also, the use of lightweight wheels has resulted in improved vehicle dynamics and performance compared to conventional wheels. Aftermarket wheels for passenger cars come in a vast range of styles to ?t the different types of passenger cars. Aftermarket wheels are primarily made of alloys for passenger cars. Alloy: Improves the appearance of the wheels Alloy is expected to be the fastest market for global Automotive Wheels Aftermarket. The growth is due to factors such as corrosion resistance, durability, high tensile strength, density, ductility, and malleability. The two major or commonly used components in the making of alloy wheels are aluminum and magnesium. Aluminum is a lightweight material and is ductile, durable, and corrosion-resistant. Cars manufactured using aluminum are lightweight, fuel-ef?cient, and emission ef?cient. Alloy wheels have been increasingly used during the last decade, while the use of regular steel has seen a steady decline in the automotive industry. The use of steel wheels has also declined as aluminum cast wheels have slowly replaced steel wheels, mainly in the passenger vehicle segment. Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id= 179305672   Asia Paci?c: China is expected to lead the Asia Paci?c market 

3. The Asia Paci?c region is estimated to be the fastest-growing market. The region comprises some of the fastest developing economies of the world such as China and India. The Asia Paci?c region is home to key suppliers of automotive wheels such as Enkei (Japan) and Zhejiang Wanfeng Auto Wheel (China). Factors such as the availability of cheap labor and favorable government policies help undertake mass production of automotive components in Asia Paci?c, which results in lower prices. In addition, high investments by major OEMs in advanced technologies are providing growth opportunities for the aftermarket wheels manufacturers in this region. China is the largest producer of automobiles in the world. Recent infrastructural developments have boosted the growth of the light-duty vehicle market in the region. Also, nearly all major OEMs have invested in the Chinese market, which is inclined toward small and affordable passenger vehicles. The growing automotive sales levels in China have driven the demand for automotive wheels in the aftermarket. Key Market Players: The major Automotive Wheels Aftermarket players are RONAL Group (Switzerland), BORBET Gmbh (Germany), Enkei Corporation (Japan), Superior Industries (US), and Maxion Wheels (US). Browse Related Reports: Automotive Wheel Market by Rim Size (13-15,16-18,19-21,>21 inch), Material (Steel, Alloy, Carbon Fiber), Off-highway (Construction & Mining, Agriculture Tractors) Vehicle Type, Vehicle Class, End-Use, and Region - Global Forecast to 2025 Automotive Specialty Coatings Market by Application (Engine Exhaust, Interior, Transmission, Wheels), Technology (Solvent-borne, Water-borne, Powder), Resin (PU, Epoxy, Acrylic), Substrate, ICE, Electric & Hybrid Vehicle & Region - Global Forecast to 2025 About MarketsandMarkets™  MarketsandMarkets™ provides quanti?ed B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top of?cers across eight industries worldwide  approach MarketsandMarkets™ for their painpoints around revenues decisions.

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