Market Overview:
The global truck alloy wheel market is estimated to be valued at US$ 2,362.8 Mn in 2018 and is projected to register a CAGR of 5.5% over the forecast period (2018-2030), according to a new study by Transparency Market Research (TMR). The market is expected to be worth US$ 3,584.4 Mn by 2030 end. The casting segment is anticipated to account for a major share of the global truck alloy wheel market in terms of value during the forecast period. This segment is expected to reach a valuation of US$ 1,711.9 Mn by 2030 end, expanding at a CAGR of 5%. The forging segment is projected to register the highest CAGR over the forecast period and account for 18% share of the overall market by 2030 end.
Product Definition:
A truck alloy wheel is a type of wheel that is designed specifically for trucks. Truck alloy wheels are typically larger in size than standard car alloy wheels and they are also stronger and more durable. They are often used on commercial vehicles, such as trucks and tractors, because they can handle the heavier loads that these vehicles typically carry.
Casting:
Casting is the process of making a mold or pattern to make a duplicate of an object. It is used in various industries such as automotive, construction equipment, and consumer goods industries. In the case of automotive industry, it's used for manufacturing wheels and tires. The main objective behind using casting technique is to produce multiple identical copies of complex shape with ease and minimum wastage of raw materials like metal or plastic resin.
Forging:
Forging is a method of manufacturing steel or other metal alloys wherein the metal is heated and rolled over a hot ironing plate. The process produces various types of steel including carbon, low alloy, high strength steels and also provides flexibility to the end product.
The key benefit of forging is that it can produce higher quality & quantity output in less time as compared to casting and machining which makes it an ideal choice for mass production.
Application Insights:
The aftermarket segment accounted for a share of more than 60.0% in 2017 and is expected to witness significant growth over the forecast period. The growing demand for light commercial vehicles (LCVs) and heavy trucks in developing countries such as India, China, South Africa, Argentina is expected to drive the industry growth over the forecast period.
OEMs are majorly involved in manufacturing wheels for LCVs & HCVs on a commercial scale since they have larger production units at their disposal compared to individual consumers of truck alloy wheels who buy from an aftermarket or directly from an OEMs plant. The rising number of LCV & HCV manufacturers across developing countries owing to low cost labor coupled with increasing disposable income will boost market size further over the next eight years.
Truck alloy wheel applications include passenger cars/light trucks and buses; off-roaders including excavators, loaders, graders; heavy duty vehicles including tractors.
Regional Analysis:
The North American region dominated the global truck alloy wheel market in 2017. The growing demand for heavy-duty trucks is expected to drive the regional market over the forecast period. In addition, favorable government regulations and increasing investments by major companies are anticipated to propel growth in this region. For instance, General Motors invested USD X million from 2016 to 2018 in Mexico’s industrial sector as a part of its plan to create jobs and expand operations across America.
Asia Pacific is projected to be one of the fastest-growing regions during the forecast period owing to rapid economic development coupled with rising disposable income levels among consumers, which will result into increased sales of commercial vehicles including passenger cars and trucks. Furthermore, supportive government initiatives such as “Make in India†campaign by Indian Government are expected boost automotive production across India which will further fuel product demand aftermarket segment growth over next eight years time frame).
Growth Factors:
- Increasing demand for commercial vehicles: The global truck market is expected to grow at a CAGR of more than 5% during the forecast period. This will lead to an increase in demand for truck alloy wheels, as they are an essential part of a commercial vehicle.
- Technological advancements: The truck alloy wheel market is witnessing rapid technological advancements, with manufacturers introducing new and innovative products in the market. This is helping to boost the growth of the market.
- Rising disposable income: With rising disposable incomes, consumers are increasingly opting for premium products such as truck alloy wheels. This is aiding the growth of the market globally.
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck Alloy Wheel Market Research Report
By Type
Casting, Forging, Other
By Application
Aftermarket, OEMs
By Companies
CITIC Dicastal, Ronal Wheels, Superior Industries, Borbet, Iochpe-Maxion, Alcoa, Wanfeng Auto, Lizhong Group, Topy Group, Enkei Wheels, Zhejiang Jinfei Kaida, Accuride, YHI, Yueling 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
135
Number of Tables & Figures
95
Customization Available
Yes, the report can be customized as per your need.
Global Truck Alloy Wheel Market Report Segments:
The global Truck Alloy 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
Aftermarket, OEMs
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
- Ronal Wheels
- Superior Industries
- Borbet
- Iochpe-Maxion
- Alcoa
- Wanfeng Auto
- Lizhong Group
- Topy Group
- Enkei Wheels
- Zhejiang Jinfei Kaida
- Accuride
- YHI
- Yueling Wheels
Highlights of The Truck Alloy 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:
- Aftermarket
- OEMs
- 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 Truck Alloy 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
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- Understanding Competition Scenario
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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?
Truck alloy wheel is a type of wheel made from an alloy. Alloys are materials that have been combined to create something new and different. Alloy wheels are made from a variety of metals, including aluminum, magnesium, and steel. They're often lighter than traditional metal wheels and offer better performance in wet or icy conditions.
Some of the key players operating in the truck alloy wheel market are CITIC Dicastal, Ronal Wheels, Superior Industries, Borbet, Iochpe-Maxion, Alcoa, Wanfeng Auto, Lizhong Group, Topy Group, Enkei Wheels, Zhejiang Jinfei Kaida, Accuride, YHI, Yueling Wheels.
The truck alloy wheel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Truck Alloy 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 Truck Alloy Wheel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Market Size & Forecast, 2018-2028
4.5.1 Truck Alloy Wheel Market Size and Y-o-Y Growth
4.5.2 Truck Alloy Wheel Market Absolute $ Opportunity
Chapter 5 Global Truck Alloy 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 Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Market Size Forecast by Applications
6.2.1 Aftermarket
6.2.2 OEMs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Analysis and Forecast
9.1 Introduction
9.2 North America Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Market Size Forecast by Applications
9.10.1 Aftermarket
9.10.2 OEMs
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 Truck Alloy Wheel Analysis and Forecast
10.1 Introduction
10.2 Europe Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Market Size Forecast by Applications
10.10.1 Aftermarket
10.10.2 OEMs
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 Truck Alloy Wheel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Market Size Forecast by Applications
11.10.1 Aftermarket
11.10.2 OEMs
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 Truck Alloy Wheel Analysis and Forecast
12.1 Introduction
12.2 Latin America Truck Alloy 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 Truck Alloy 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 Truck Alloy Wheel Market Size Forecast by Applications
12.10.1 Aftermarket
12.10.2 OEMs
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) Truck Alloy Wheel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Truck Alloy 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) Truck Alloy 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) Truck Alloy Wheel Market Size Forecast by Applications
13.10.1 Aftermarket
13.10.2 OEMs
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 Truck Alloy Wheel Market: Competitive Dashboard
14.2 Global Truck Alloy Wheel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 CITIC Dicastal
14.3.2 Ronal Wheels
14.3.3 Superior Industries
14.3.4 Borbet
14.3.5 Iochpe-Maxion
14.3.6 Alcoa
14.3.7 Wanfeng Auto
14.3.8 Lizhong Group
14.3.9 Topy Group
14.3.10 Enkei Wheels
14.3.11 Zhejiang Jinfei Kaida
14.3.12 Accuride
14.3.13 YHI
14.3.14 Yueling Wheels
