Automotive Aluminum Alloy Wheel Market, in terms of revenue, was estimated to be USD 74.08 billion in 2018 and is expected to reach USD 103.01 billion in 2025, growing at a CAGR of 4.70% from 2019 to 2025.
Increasing demand for vehicles across the globe is the primary and the most important factor that is boosting the growth of the global automotive aluminum wheels market. Automotive Aluminum Alloy Wheel (AAAW) Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate AAAW Market place for the forecast 2020– 2025.
Many vehicles are made of cast aluminum due to the alloy in them being light and strong. Aluminum alloy used for wheel usually contain 97% of aluminum. A second metal is added to provide durability since pure aluminum is too soft. There are three processes for making wheels from aluminum such as, forging, rolled forging and casting. Moreover, rising vehicle ownerships along with continuous support from the government for the adoption of alternative fuelled vehicles are further supporting the automotive aluminum wheel market growth. For instance, according to OICA as of 2017, the global vehicle production accounted for around 97.3 million units and Asia Pacific contributed for over 50% of the total global production.
The study provides a decisive view of the global AAAW market by segmenting the market based on product type, application and region. Based on type, automotive aluminum wheel market is segmented into painting wheels, polished wheels, plating wheels, and vacuum plating wheel.
This segment is dominated by xxxxxx in product type segment and it was worth of USD XX billion in 2018 and it is expected to reach USD XX billion by 2025 with considerable CAGR of XX% in forecast period. On the basis of application, the automotive aluminum wheel market is segmented into passenger vehicles and commercial vehicles. This segment is dominated by XX and it was worth of USD XX billion in 2018 and it is expected to reach USD XX billion by 2025 with considerable CAGR of XX% in forecast period.
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By Material Type:Alloy(Aluminum and Magnesium),Steel, Carbon Fiber
By Vehicle Type:senger CarPas, Light Commercial Vehicle (LCV),Heavy Commercial Vehicle (HCV)
By End User:Original Equipment Manufacturer OEM),Aftermarket
Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
The regions covered in global AAAW market are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global automotive aluminum wheel market sub divided into U.S., Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Brazil, Mexico, GCC, Africa, etc. Global automotive aluminum wheel market is dominated by North America and it was worth of USD XX billion in 2018 and it is expected to reach USD XX billion by 2025 with considerable CAGR of XX% in forecast period.
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