Market Overview:
The global light vehicle steel wheel 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 light commercial vehicles and heavy commercial vehicles across the globe. Casting wheels are expected to dominate the global light vehicle steel wheel market throughout the forecast period owing to their low manufacturing cost as compared to forging wheels. Asia Pacific is anticipated to be the fastest growing region in terms of revenue during 2018-2030 owing to rising demand for passenger cars and commercial vehicles in countries such as China, India, Japan and South Korea.
Product Definition:
A light vehicle steel wheel is a type of wheel that is used on light vehicles such as cars, vans and trucks. These wheels are typically made out of steel, which makes them strong and durable. They are also usually painted black or silver in order to match the rest of the vehicle. Light Vehicle Steel Wheels are important because they help to support the weight of the vehicle and its passengers, as well as providing traction and stability.
Casting:
Casting is the process of making a mold or pattern to create a perfect copy of an object. It is used in various industries such as automotive, construction equipment, and consumer goods industries. The automotive industry has been witnessing significant growth over the past few years on account of increasing demand for vehicles from developing countries such as India and China. This trend is expected to continue over the forecast period thus driving casting market growth.
Forging:
Forging is a process of converting sheet metal into workable shapes by heating it above the recrystallization temperature. It is also known as die-casting. The basic process used in forging consists of four steps such as drawing, annealing, normalizing and final shaping.
Application Insights:
The light commercial vehicle (LCV) segment led the global market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing LCV production across the globe owing to rising demand for these vehicles from developing countries such as India, China and Brazil. In addition, technological advancements coupled with low cost mass production techniques are expected to result in increased adoption of steel wheels for LCVs over the coming years.
For instance, aftermarket manufacturers offer replacement wheel sets for trucks and buses that meet specific performance requirements set by transit agencies or bus manufacturers themselves.
Regional Analysis:
Asia Pacific dominated the global light vehicle steel wheel market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing automotive production and sales in countries such as China, India, South Korea, Thailand and Indonesia. Furthermore, rising disposable income coupled with a growing population will boost automobile demand which will further drive product demand.
The European market accounted for a major share of revenue due to stringent emission norms prescribed by regulatory bodies such as U.S EPA (European Environment Agency) regarding carbon emissions from heavy-duty vehicles including buses and trucks that are driven on roads other than normal highways e.g., city roads or backroads between cities/towns or around villages/hamlets).
Growth Factors:
- Increasing demand for lightweight vehicles: The global trend of downsizing and weight reduction in passenger cars is expected to drive the demand for light vehicle steel wheels over the forecast period. Steel is a preferred material for manufacturing lightweight wheels as it offers high strength-to-weight ratio as compared to other materials such as aluminum.
- Rising automotive production in developing countries: The increasing production of automobiles in developing countries, such as China and India, is expected to boost the demand for light vehicle steel wheels over the next few years. These countries are witnessing a rapid growth in their automotive industries due to rising income levels and changing consumer preferences.
- Growing popularity of SUVs and crossovers: The popularity of SUVs and crossovers is growing rapidly across the globe, which is resulting in an increase in their sales volume worldwide. This trend is anticipated to spur demand for light vehicle steel wheels during the forecast period.
- . Technological advancements: Wheel manufacturers are focusing on developing innovative technologies that can improve wheel performance while reducing weight at the same time In order to cater to this growing demand, major players are investing heavily in R&D activities aimed at enhancing product offerings through technological advancements.. This will help them gain a competitive edge over other players operating within this market space 5 Increased focus on safety features: With governments across various regions implementing stringent safety regulations, automobile manufacturers are increasingly focusing on equipping their vehicles with advanced safety features Such initiatives are likely to result i n
Scope Of The Report
Report Attributes
Report Details
Report Title
Light Vehicle Steel Wheel Market Research Report
By Type
Casting, Forging, Other
By Application
Light Commercial Vehicle, Heavy Commercial Vehicle
By Companies
CITIC Dicastal, Borbet, Ronal Wheels, Superior Industries, Enkei Wheels, Lizhong Group, Alcoa, Wanfeng Auto, Iochpe-Maxion, Zhejiang Jinfei Holding Group, Topy Group, Accuride, Steel Strips Wheels
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
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Light Vehicle Steel Wheel Market Report Segments:
The global Light Vehicle Steel Wheel market is segmented on the basis of:
Types
Casting, Forging, Other
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
Light Commercial Vehicle, Heavy Commercial Vehicle
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:
- CITIC Dicastal
- Borbet
- Ronal Wheels
- Superior Industries
- Enkei Wheels
- Lizhong Group
- Alcoa
- Wanfeng Auto
- Iochpe-Maxion
- Zhejiang Jinfei Holding Group
- Topy Group
- Accuride
- Steel Strips Wheels
Highlights of The Light Vehicle Steel Wheel 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:
- Casting
- Forging
- Other
- By Application:
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- 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 Light Vehicle Steel Wheel 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
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Light vehicle steel wheel is a type of steel wheel that is made for use in vehicles that are lighter than traditional heavy-duty trucks and SUVs. These wheels are typically made from a thinner gauge of steel, which makes them lighter and more durable than heavier duty wheels. They also tend to be less expensive to produce, making them an attractive option for smaller vehicles.
Some of the key players operating in the light vehicle steel wheel market are CITIC Dicastal, Borbet, Ronal Wheels, Superior Industries, Enkei Wheels, Lizhong Group, Alcoa, Wanfeng Auto, Iochpe-Maxion, Zhejiang Jinfei Holding Group, Topy Group, Accuride, Steel Strips Wheels.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size & Forecast, 2018-2028
4.5.1 Light Vehicle Steel Wheel Market Size and Y-o-Y Growth
4.5.2 Light Vehicle Steel Wheel Market Absolute $ Opportunity
Chapter 5 Global Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size Forecast by Type
5.2.1 Casting
5.2.2 Forging
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size Forecast by Applications
6.2.1 Light Commercial Vehicle
6.2.2 Heavy Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Analysis and Forecast
9.1 Introduction
9.2 North America Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size Forecast by Type
9.6.1 Casting
9.6.2 Forging
9.6.3 Other
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 Light Vehicle Steel Wheel Market Size Forecast by Applications
9.10.1 Light Commercial Vehicle
9.10.2 Heavy Commercial Vehicle
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 Light Vehicle Steel Wheel Analysis and Forecast
10.1 Introduction
10.2 Europe Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size Forecast by Type
10.6.1 Casting
10.6.2 Forging
10.6.3 Other
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 Light Vehicle Steel Wheel Market Size Forecast by Applications
10.10.1 Light Commercial Vehicle
10.10.2 Heavy Commercial Vehicle
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 Light Vehicle Steel Wheel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size Forecast by Type
11.6.1 Casting
11.6.2 Forging
11.6.3 Other
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 Light Vehicle Steel Wheel Market Size Forecast by Applications
11.10.1 Light Commercial Vehicle
11.10.2 Heavy Commercial Vehicle
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 Light Vehicle Steel Wheel Analysis and Forecast
12.1 Introduction
12.2 Latin America Light Vehicle Steel Wheel 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 Light Vehicle Steel Wheel Market Size Forecast by Type
12.6.1 Casting
12.6.2 Forging
12.6.3 Other
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 Light Vehicle Steel Wheel Market Size Forecast by Applications
12.10.1 Light Commercial Vehicle
12.10.2 Heavy Commercial Vehicle
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) Light Vehicle Steel Wheel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Light Vehicle Steel Wheel 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) Light Vehicle Steel Wheel Market Size Forecast by Type
13.6.1 Casting
13.6.2 Forging
13.6.3 Other
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) Light Vehicle Steel Wheel Market Size Forecast by Applications
13.10.1 Light Commercial Vehicle
13.10.2 Heavy Commercial Vehicle
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 Light Vehicle Steel Wheel Market: Competitive Dashboard
14.2 Global Light Vehicle Steel Wheel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 CITIC Dicastal
14.3.2 Borbet
14.3.3 Ronal Wheels
14.3.4 Superior Industries
14.3.5 Enkei Wheels
14.3.6 Lizhong Group
14.3.7 Alcoa
14.3.8 Wanfeng Auto
14.3.9 Iochpe-Maxion
14.3.10 Zhejiang Jinfei Holding Group
14.3.11 Topy Group
14.3.12 Accuride
14.3.13 Steel Strips Wheels
