COVID-19 Impact and Recovery Analysis- Global Aluminum Alloy Wheel Market 2020-2024 | Growing Demand for Lightweight Vehicles to Boost Market Growth | Technavio

Technavio has been monitoring the aluminum alloy wheel market and it is poised to grow by USD 0.52 billion during 2020-2024, progressing at a CAGR of about 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the aluminum alloy wheel market. The market growth in 2020 is likely to decrease compared to market growth in 2019.

Frequently Asked Questions-

• Based on segmentation by application, which is the leading segment in the market?

• The passenger cars are expected to be the leading segment based on application in the global market during the forecast period.

• What are the major trends in the market?

• The growing popularity of 3D-printed wheels of titanium is one of the major trends in the market.

• At what rate is the market projected to grow?

• Growing at a CAGR of about 1%, the incremental growth of the market is anticipated to be USD 0.52 billion.

• Who are the top players in the market?

• Accuride Corp., BORBET GmbH, CITIC Ltd., CMS Jant ve Makina San. AS, Enkei Corp., Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Howmet Aerospace Inc., Iochpe-Maxion SA, RONAL AG, and Superior Industries International Inc. are some of the major market participants.

• What are the key market drivers and challenges?

• Growing demand for lightweight vehicles is one of the major factors driving the market. However, the fluctuations in raw material prices restraints the market growth.

• How big is the APAC market?

• The APAC region will contribute 69% of market growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accuride Corp., BORBET GmbH, CITIC Ltd., CMS Jant ve Makina San. AS, Enkei Corp., Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd., Howmet Aerospace Inc., Iochpe-Maxion SA, RONAL AG, and Superior Industries International Inc. are some of the major market participants. The growing demand for lightweight vehicles will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this aluminum alloy wheel market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Aluminum Alloy Wheel Market 2020-2024: Segmentation

Aluminum Alloy Wheel Market is segmented as below:

• Application
  • Passenger Cars
  • Commercial Vehicles
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43937

Aluminum Alloy Wheel Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The aluminum alloy wheel market report covers the following areas:

• Aluminum Alloy Wheel Market Size
• Aluminum Alloy Wheel Market Trends
• Aluminum Alloy Wheel Market Analysis

This study identifies the growing popularity of 3D-printed wheels of titanium as one of the prime reasons driving the aluminum alloy wheel market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Aluminum Alloy Wheel Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist aluminum alloy wheel market growth during the next five years
• Estimation of the aluminum alloy wheel market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the aluminum alloy wheel market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of aluminum alloy wheel market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019-2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Passenger cars - Market size and forecast 2019-2024
• Commercial vehicles - Market size and forecast 2019-2024
• Market opportunity by Application

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Volume drivers – Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Accuride Corp.
• BORBET GmbH
• CITIC Ltd.
• CMS Jant ve Makina San. AS
• Enkei Corp.
• Foshan Nanhai Zhongnan Aluminum Wheel Co. Ltd.
• Howmet Aerospace Inc.
• Iochpe-Maxion SA
• RONAL AG
• Superior Industries International Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

   

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