FMI’s New Report, titled, “Automotive Wheel Rims Market: Global Industry Analysis and Opportunity Assessment 2016-2026” offers 10-year forecast and analysis.
Valley Cottage, NY -- (SBWIRE) -- 06/10/2016 -- Wheel Rims is outer edge of a wheel, which are designed to hold tyre. Wheel rims must be strong enough to bear vehicle weight and withstand forces caused by operation. Materials which are used to produce wheels have become sophisticated as a design and materials such as steel, non-ferrous alloys aluminium, and magnesium. Alloy wheels are becoming popular due to appearance as well as lighter in terms of weight than the steel wheels. Aluminium act as a conductor of heat, alloy wheels dissipate heat from tyres and brakes more effectively than steel wheels. Wheel rims mainly effects the braking system of a vehicle. The higher diameter wheel rim enables better airflow towards the braking system. The handling of vehicle can depends on weight of vehicle, lighter vehicles can be easily controlled in the motion of tyre. There has been tremendous developments in wheel rims industry from last couple of years. The technological advancements and innovations in the automotive wheel rims market spur new opportunities for the companies in automobile industry. Global Automotive Wheel Rims market is expected to offers lucrative market over the forecast period.
Automotive Wheel Rims Market: Drivers and restraints
There has been a healthy growth rate in the economies of Asian pacific countries, which enables propel the automotive wheel rims market. Growing disposable income of consumers along with changing the life style is expected to boost the global automotive wheel rims market. Thus, in turn, would lead to increase in demand for automotive wheel rims. Adoption of Automotive Wheel Rims has been observed to be quite less in lower and middle-income countries due to low awareness and less disposable income, this can narrow down the global automotive wheel rims market.
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Automotive Wheel Rims Market: Segmentation
Global Automotive Wheel Rims Market can be segmented as following types
By Product Type
Wire Spoke Wheel Rims
Steel Disc Wheel Rims
Light Alloy Wheel Rims
Aluminium Alloy Wheel Rims
Magnesium Alloy Wheel Rims
Titanium Alloy Wheel Rims
Chrome Wheel Rims
Teflon Wheel Rims
By End User
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Automotive Wheel Rims Market: Overview
Global Automotive Wheel Rims market is gaining upsurge across the globe due to increased awareness among automobile Industry. The innovations in wheel rims enables better performance of vehicle. The global automotive wheel rims market expected to witness a significant CAGR as well as annual growth rates over the forecast period.
Automotive Wheel Rims Market: Region-Wise Outlook
Global market is segmented into seven key regions, those are North America (N.A), Western Europe (W.EU), Latin America (L.A), Eastern Europe (E.EU), Asia-Pacific Excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
North America is anticipated to have a maximum market share in global automotive wheel rims market due to increased disposable income of the people of US and Canada. Asia Pacific follows North America in terms of market share in global automotive wheel rims market owing to the drastic change in Asian countries economy as well as trending the life style in the region especially in countries like greater Japan, China and India. Europe is having a considerable contribution in global automotive wheel rims market due to its use in the commercial sectors and ever increasing automobile sector. Middle East and Africa at a rudiment stage in global automotive wheel rims market.
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Automotive Wheel Rims Market: Key players
Some of the key players are
TSW alloy Wheels
MHT Luxury Wheels
Status Wheels (TUFF A.T)
Fuel Offroad Wheels
Wheel Pros LLC.