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Aluminum Alloy Wheel27/8/2022
Aluminum Alloy Wheel The aluminum alloy wheel market size is expected to grow by USD 3.41 billion from 2020 to 2025 progressing at a CAGR of 4.43% according to Technavio's latest market report. The advent of carbon fiber alloy wheels is the key market trend driving the aluminum alloy wheel market growth. Carbon fiber alloy wheels are one of the main substitutes for aluminum alloy wheels as carbon fiber is stronger than aluminum and half its weight. Although the aluminum alloy wheel is lightweight, the processing of an aluminum alloy wheel can affect its strength and stiffness. Hence, aluminum alloy wheels can deform under a slight impact, whereas carbon fiber alloy wheels remain intact. Moreover, carbon fiber wheels offer better performance than aluminum alloy wheels even if the weight of a carbon fiber alloy wheel is reduced by half of that of an aluminum alloy wheel. Carbon fiber alloy wheels help in meeting emission targets due to their lightweight feature. Thus, the increase in the adoption of fiber alloy wheels will impact the global aluminum alloy wheel market.To get more news about Car wheel, you can visit nnxwheels.com official website.
The competitive scenario provided in the Aluminum Alloy Wheel Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
The aluminum alloy wheel market share growth in the passenger cars segment will be significant for revenue generation. Automakers are increasingly adopting aluminum alloy wheels due to their benefits in terms of higher fuel efficiency and aesthetic appeal. Hence, the demand for aluminum alloy wheels will increase in the passenger cars segment during the forecast period.
The aluminum alloy wheel market is fragmented and the vendors are deploying growth strategies such as using new materials for manufacturing aluminum alloy wheels to compete in the market. The aluminum alloy wheel market report also offers information on several market vendors, including Accuride Corp., BORBET GmbH, CITIC Ltd., and 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. among others.
Reasons to Buy Aluminum Alloy Wheel Market Report: CAGR of the market during the forecast period 2021-2025 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 across APAC, Europe, North America, South America, and MEA 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
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