Market Overview:
The global automotive steel wheels market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for passenger vehicles and commercial vehicles across the globe. Cast iron is expected to account for a major share of the global automotive steel wheels market in terms of value, followed by alloy steel and others. Passenger vehicles are anticipated to account for a larger share of the global automotive steel wheels market as compared with commercial vehicles. In terms of region, North America is expected to lead the global automotive steel wheels market in terms of value during 2018-2030.
Product Definition:
steel wheels are the most common type of wheel found on cars and trucks. They are made from steel and have a metal rim that is attached to the tire.
Cast Iron:
Cast iron is a type of metal that is obtained from melting downcast material, which consists of recycled materials such as pig iron. The process of obtaining cast iron involves two steps; first the scrap material is melted and then poured into a mold to obtain the final product. The finished product has various applications in different end-use industries including automotive, construction, home appliances and others.
Alloy Steel:
Alloy steel is a mixture of iron, nickel and other metals. It has properties such as high strength, hardness and weldability. The product is used in the manufacturing of wheels for vehicles due to its characteristics such as strong corrosion resistance, high tensile strength & elongation and good formability.
Application Insights:
The passenger vehicles segment held the largest share of over 70.0% in 2017. The demand for automotive steel wheels is expected to increase significantly owing to their low cost and high durability properties, which makes them suitable for long-distance travel. Furthermore, increasing penetration of four-wheelers on account of rising disposable income levels will boost the market growth over the forecast period.
Commercial vehicles are projected to expand at a CAGR of XX% from 2018 to 2030 in terms of volume due mainly to an increase in government spending on infrastructure projects and emphasis laid by public transportation authorities on improving road connectivity leading to increased demand for commercial vehicles with steel wheels among others such as buses and trucks that use these types of transport modes extensively across various regions worldwide including North America, Europe, Asia Pacific.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 60% of total volume owing to increasing production and sales of passenger cars and commercial vehicles in China, India, Japan, South Korea, Thailand, Indonesia among other countries. In addition to this growing demand for passenger cars from developing economies such as China & India is further anticipated to boost industry growth over the coming years.
Europe was estimated at USD X billion in 2017 owing to high demand from Germany on account of rising automotive production coupled with strong consumer preference towards premium vehicles with superior performance characteristics including improved handling ability as compared to mass-produced counterparts which are also cheaper due as less weight involved thereby boosting overall sales across the region during the forecast period.
Growth Factors:
- Increasing demand for lightweight vehicles: The automotive steel wheels market is expected to benefit from the increasing demand for lightweight vehicles. Lightweighting of vehicles helps in improving fuel efficiency and reducing emissions. This is likely to boost the demand for automotive steel wheels in the coming years.
- Rising popularity of SUVs and crossovers: The popularity of SUVs and crossovers is rising rapidly across the globe, owing to their superior performance and features. This is likely to create a positive outlook for the automotive steel wheels market in the near future.
- Growing focus on vehicle safety: Vehicle safety has become a key concern among consumers, which is resulting in an increase in demand for advanced safety features such as airbags, ABS, etc., In turn, this is boosting the sales of high-end cars that come equipped with these features, thereby propelling growth of the automotive steel wheels market globally.
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Steel Wheels Market Research Report
By Type
Cast Iron, Alloy Steel, Others
By Application
Passenger Vehicles, Commercial Vehicles
By Companies
IOCHPE, TOPY INDUSTRIES, Accuride, ALCAR HOLDING, Steel Strips Wheel, Fastco Canada, Alcar Holding, Bharat Wheel, Maxion Wheels, IOCHPE
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Steel Wheels Market Report Segments:
The global Automotive Steel Wheels market is segmented on the basis of:
Types
Cast Iron, Alloy Steel, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicles, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IOCHPE
- TOPY INDUSTRIES
- Accuride
- ALCAR HOLDING
- Steel Strips Wheel
- Fastco Canada
- Alcar Holding
- Bharat Wheel
- Maxion Wheels
- IOCHPE
Highlights of The Automotive Steel Wheels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cast Iron
- Alloy Steel
- Others
- By Application:
- Passenger Vehicles
- Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Steel Wheels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive steel wheels are made from a variety of metals, including aluminum and magnesium. They are often lighter and stronger than traditional steel wheels, making them ideal for use in vehicles. Automotive steel wheels also tend to be more resistant to corrosion, which makes them a popular choice for those who care about environmental sustainability.
Some of the major players in the automotive steel wheels market are IOCHPE, TOPY INDUSTRIES, Accuride, ALCAR HOLDING, Steel Strips Wheel, Fastco Canada, Alcar Holding, Bharat Wheel, Maxion Wheels, IOCHPE.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Steel Wheels Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Steel Wheels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Steel Wheels Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Steel Wheels Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Steel Wheels Market Size & Forecast, 2018-2028
4.5.1 Automotive Steel Wheels Market Size and Y-o-Y Growth
4.5.2 Automotive Steel Wheels Market Absolute $ Opportunity
Chapter 5 Global Automotive Steel Wheels Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Automotive Steel Wheels Market Size Forecast by Type
5.2.1 Cast Iron
5.2.2 Alloy Steel
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automotive Steel Wheels Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Automotive Steel Wheels Market Size Forecast by Applications
6.2.1 Passenger Vehicles
6.2.2 Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Steel Wheels Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Steel Wheels Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Automotive Steel Wheels Analysis and Forecast
9.1 Introduction
9.2 North America Automotive Steel Wheels Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Automotive Steel Wheels Market Size Forecast by Type
9.6.1 Cast Iron
9.6.2 Alloy Steel
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Automotive Steel Wheels Market Size Forecast by Applications
9.10.1 Passenger Vehicles
9.10.2 Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Automotive Steel Wheels Analysis and Forecast
10.1 Introduction
10.2 Europe Automotive Steel Wheels Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Automotive Steel Wheels Market Size Forecast by Type
10.6.1 Cast Iron
10.6.2 Alloy Steel
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Automotive Steel Wheels Market Size Forecast by Applications
10.10.1 Passenger Vehicles
10.10.2 Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Automotive Steel Wheels Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automotive Steel Wheels Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Automotive Steel Wheels Market Size Forecast by Type
11.6.1 Cast Iron
11.6.2 Alloy Steel
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Automotive Steel Wheels Market Size Forecast by Applications
11.10.1 Passenger Vehicles
11.10.2 Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Automotive Steel Wheels Analysis and Forecast
12.1 Introduction
12.2 Latin America Automotive Steel Wheels Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Automotive Steel Wheels Market Size Forecast by Type
12.6.1 Cast Iron
12.6.2 Alloy Steel
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Automotive Steel Wheels Market Size Forecast by Applications
12.10.1 Passenger Vehicles
12.10.2 Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Automotive Steel Wheels Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automotive Steel Wheels Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Automotive Steel Wheels Market Size Forecast by Type
13.6.1 Cast Iron
13.6.2 Alloy Steel
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Automotive Steel Wheels Market Size Forecast by Applications
13.10.1 Passenger Vehicles
13.10.2 Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Steel Wheels Market: Competitive Dashboard
14.2 Global Automotive Steel Wheels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IOCHPE
14.3.2 TOPY INDUSTRIES
14.3.3 Accuride
14.3.4 ALCAR HOLDING
14.3.5 Steel Strips Wheel
14.3.6 Fastco Canada
14.3.7 Alcar Holding
14.3.8 Bharat Wheel
14.3.9 Maxion Wheels
14.3.10 IOCHPE
