Market Overview:
The global Modified Wheels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for high-performance cars, especially in developed countries such as North America and Europe. In addition, the growing popularity of motorsports is also contributing to the growth of this market. The global Modified Wheels market can be segmented on the basis of type into one piece forging, two-piece forging and three piece forging. Among these, one piece forging is expected to account for a major share of the market during the forecast period owing to its advantages over other types such as reduced weight and improved strength-to-weight ratio. On the basis of application, ordinary cars are expected to account for a majority share of this market during 2018–2030 followed by racing cars.
Product Definition:
A modified wheel is a type of racing wheel that has been altered to provide more grip or handling than the original design. They are often wider and have a different offset than stock wheels, which allows for a greater contact patch with the track surface. This provides more traction and better handling in high-speed corners.
One Piece Forging:
One piece forging is a process where the metal parts are manufactured by forcing hot steel into a die or molds. The main benefit of this process is that there are no longer any seam welds, which makes it stronger and more precise.
The market for one-piece forging has been growing rapidly on account of its strength and precision compared to two-piece forged wheels.
Two-Piece Forging:
Modified wheels are those manufactured with the intent of fitting only one type of hub, namely a fixed gear. The wheel and its components are manufactured in such a way that they match each other precisely. Two-piece forging is used for manufacturing these types of wheels to ensure high precision and quality in both the component as well as the finished product.
The two-piece forging process consists of two operations; whileering and drawing out or bending out.
Application Insights:
The ordinary car application segment led the market and accounted for more than 60.0% share of the global revenue in 2017. The modified wheels are widely used in passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). LCV is a vehicle that is used on a daily basis to transport goods from one place to another. HCV is an eight-wheeler with a capacity of carrying more than 16 passengers along with their luggage.
The racing car application segment will expand at the fastest CAGR during the forecast period owing to increased demand from motorsports including Formula One, IndyCar Series, World Rally Championship, NASCAR Cup Series and others.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing automobile production in countries, such as China and India. Furthermore, rising disposable income of consumers and expansion of automotive retail network are likely to contribute toward industry growth in this region.
The market for global modified wheels is expected to witness significant growth over the forecast period owing to high demand from various application segments including racing car segment in Europe and Asia Pacific. Rising popularity of motor sports as a result of increased participation across countries, such as Germany, France and Italy is projected favorably impact industry revenue generation across this region during the same period.
Growth Factors:
- Increasing demand for fuel-efficient and lightweight vehicles
- Rising disposable income of consumers in developing countries
- Technological advancements in the manufacturing of modified wheels
- Growing popularity of sports cars and luxury vehicles
- Proliferation of online retail platforms
Scope Of The Report
Report Attributes
Report Details
Report Title
Modified Wheels Market Research Report
By Type
One Piece Forging, Two-Piece Forging, Three Piece Forging
By Application
Ordinary Car, Racing Car
By Companies
OZ SpA, RAYS, BBS, ENKEI, ALCAR Group, Dibite, CN-Jinma, DCenti, YHI Group（Advanti Racing）, WELLNICE, Shanghai Fengtu Auto Tech, Anhui Faster-wheel
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
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Modified Wheels Market Report Segments:
The global Modified Wheels market is segmented on the basis of:
Types
One Piece Forging, Two-Piece Forging, Three Piece Forging
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
Ordinary Car, Racing Car
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:
- OZ SpA
- RAYS
- BBS
- ENKEI
- ALCAR Group
- Dibite
- CN-Jinma
- DCenti
- YHI Group（Advanti Racing）
- WELLNICE
- Shanghai Fengtu Auto Tech
- Anhui Faster-wheel
Highlights of The Modified 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:
- One Piece Forging
- Two-Piece Forging
- Three Piece Forging
- By Application:
- Ordinary Car
- Racing Car
- 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 Modified 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?
Modified wheels are a type of wheel that have been altered in some way. This could be as simple as adding a new spoke, changing the shape of the rim, or even replacing the entire wheel.
Some of the key players operating in the modified wheels market are OZ SpA, RAYS, BBS, ENKEI, ALCAR Group, Dibite, CN-Jinma, DCenti, YHI Group（Advanti Racing）, WELLNICE, Shanghai Fengtu Auto Tech, Anhui Faster-wheel.
The modified wheels market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Modified 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 Modified Wheels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Modified 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 Modified 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 Modified Wheels Market Size & Forecast, 2020-2028
4.5.1 Modified Wheels Market Size and Y-o-Y Growth
4.5.2 Modified Wheels Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 One Piece Forging
5.2.2 Two-Piece Forging
5.2.3 Three Piece Forging
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Ordinary Car
6.2.2 Racing Car
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Modified 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 Modified 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 One Piece Forging
9.6.2 Two-Piece Forging
9.6.3 Three Piece Forging
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 Market Size Forecast by Applications
9.10.1 Ordinary Car
9.10.2 Racing Car
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 One Piece Forging
10.6.2 Two-Piece Forging
10.6.3 Three Piece Forging
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 Market Size Forecast by Applications
10.10.1 Ordinary Car
10.10.2 Racing Car
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 One Piece Forging
11.6.2 Two-Piece Forging
11.6.3 Three Piece Forging
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 Market Size Forecast by Applications
11.10.1 Ordinary Car
11.10.2 Racing Car
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 One Piece Forging
12.6.2 Two-Piece Forging
12.6.3 Three Piece Forging
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 Market Size Forecast by Applications
12.10.1 Ordinary Car
12.10.2 Racing Car
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 One Piece Forging
13.6.2 Two-Piece Forging
13.6.3 Three Piece Forging
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) Market Size Forecast by Applications
13.10.1 Ordinary Car
13.10.2 Racing Car
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 Modified Wheels Market: Competitive Dashboard
14.2 Global Modified Wheels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 OZ SpA
14.3.2 RAYS
14.3.3 BBS
14.3.4 ENKEI
14.3.5 ALCAR Group
14.3.6 Dibite
14.3.7 CN-Jinma
14.3.8 DCenti
14.3.9 YHI Group（Advanti Racing）
14.3.10 WELLNICE
14.3.11 Shanghai Fengtu Auto Tech
14.3.12 Anhui Faster-wheel
