PUNE, Sept. 13, 2022 (GLOBE NEWSWIRE) — The “car wheel marketThe report offers insightful data on business strategies, top industry trends, growth opportunities, and challenges faced by the key key players. The Automotive Wheels market report covers the market size, share and growth prospects in terms of CAGR status and revenue estimation. This 98 The Pages report provides competitive landscape analysis (business profiles, investment opportunities, new plans, technological advances) and segmentation details (mainly type and applications) with geographic representation. Additionally, the research report provides details of import-export scenario, supply-demand scenario, and SWOT analysis over the forecast period.
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The wheel is an essential part of a motor vehicle, the need for which is directly related to the automotive industry.
Due to the COVID-19 pandemic, the global automotive wheels market size is estimated at US$41350 million in 2022 and is forecast to reach a newly adjusted size of US$54280 million by 2028, growing at a CAGR of 4.6% in 2022 reporting period.
Alloy wheels are becoming increasingly popular due to their aesthetics. They are lightweight and dissipate heat from tires and brakes more effectively compared to steel wheels. In addition, increasing capital investment and R&D spending by OEMs, particularly in passenger cars, is fueling market growth. Driven by the shifting trend toward lightweight, aesthetically pleasing automobiles, the automotive wheel market has seen significant growth in both developed and developing regions. Auto giants are increasingly focusing on manufacturing light vehicles in response to growing concerns about pollution.
The research report focuses on the industry competitive landscape including company profiles, business overview, sales territory, market performance and manufacturing cost structure. The report analyzes…
