Report ID: UCMIG25A2066
Automotive Wheels Aftermarket Size, Share, Growth Analysis, By Vehicle Type(Passenger Cars, Basic, Racing, Commercial Vehicles), By Material Type(Alloy, Steel, Aluminum, Others (Carbon Fiber), By Coating Type(Liquid Coating, Powdered Coating), By Rim Size(13 - 19 inches, 19 - 21 inches, 21 inches and above), By Distribution Channel(Retailers, W&D), By Region(North America, Europe, Asia Pacific, Latin America) - Industry Forecast 2024-2031
Report ID:
UCMIG25A2066 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Automotive Wheels Aftermarket Insights
Market Overview:
The aftermarket for automotive wheels was valued at USD 5.79 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 3.0% between 2019 and 2025. The demand for automotive wheels has increased in recent years, particularly due to the popularity of racing, sport, and luxury passenger car wheels. Evolving consumer preferences have driven the sales of passenger cars, resulting in a surge in demand for performance-based vehicles. The increasing number of performance-oriented passenger cars, such as supercars and luxury cars, has also led to a growing desire for high-performance wheels. Moreover, since the wheels of a vehicle play a critical role in its performance analysis, the market is expected to experience growth during the forecast period.
Automotive Wheels Aftermarket, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Auto Parts & Equipment by segment aggregation, the contribution of the Auto Parts & Equipment in Automobiles & Components and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Automotive Wheels Aftermarket Report Snapshots
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