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Heavy demand of vehicle is prime driving factor for Automotive Circular Wheel Hub Market growth. Global sales of passenger cars are expected to reach 88.7 million by 2019. Increase in disposable income and population across the world are also important factors contributing for growth of Automotive Circular Wheel Hub Market
USA and China are the largest market for Automobiles. China has produced around 29 million units in 2020. USA is emerged as automotive wheels market leader with market valued around USD 12657 million in 2019. India and Japan Automotive Circular Wheel Hub Market is expected to grow at rate of 4.6 % up to 2019. Flexible government policies in USA, India and Japan have given tremendous support for establishing Automotive Circular Wheel manufacturing plants.
Global Automotive Circular Wheel Hub Market consists of two end user Original Equipment Manufacturer(OEM) & Aftermarket. Increase in budget of R & D by Automobile manufactures helping Automotive Circular Wheel Hub Market to grow at faster rate. Light weight wheels reduce vehicle weight and increase the fuel efficiency of vehicle. Technology advancement leads to increase in use of lightweight materials like carbon fiber and magnesium in Automotive Circular Wheel Hub Market.
Global Automotive Circular Wheel Hub Market: End Users Analysis
Automotive Circular Wheel Hub product type are:
Global Automotive Circular Wheel Hub Market: Regional Analysis
Benefits of using Alloy wheels in Vehicle are:
Global Automotive Circular Wheel Hub Market: Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Automotive Circular Wheel Hub Market:
Global Automotive Circular Wheel Hub Market Report delivers comprehensive analysis of :
| Parameters | Details |
|---|---|
Base Year | 2022 |
Historical Data | 2017-2022 |
Forecast Data | 2023-2029 |
Base Year Value (2022) | USD 77738.4 million |
Forecast Value (2029) | USD 133584.56 million |
CAGR (2022 to 2028) | 6.2 % |
Regional Scope | North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Automotive Circular Wheel Hub Market was valued at around USD 77738.4 million in 2022 & estimated to reach USD 133584.56 million by 2029.
Automotive Circular Wheel Hub Market is likely to grow at compounded annual growth rate (CAGR) of 6.2% between 2023 to 2029.
In 2019 alloy wheel segment holds around 45 % market share while USA & China generated the highest revenue.
Some of the top companies included in the research report are Dicastal, Maxion, CMW, Enkei, Ronal, Borbet, Zenix, Superior, Alcoa, Accuride, Lioho, Uniwheel.
Technology advancement & Flexible government policies in USA, India, and Japan driving Automotive Circular Wheel Hub Market.
Yes, the report includes COVID 19 impact on the market.
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