Market Overview:
The global truck wheel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for commercial vehicles, especially long-distance trucks, in various regions across the globe. Additionally, the increasing focus on fuel efficiency and emissions reduction is also propelling the demand for truck wheels made of lightweight materials such as aluminum and magnesium alloys. The casting segment is expected to hold a dominant share in the global truck wheel market during the forecast period owing to its low manufacturing cost and high durability. However, forged wheels are gaining popularity among end users due their superior strength-to-weight ratio as well as aesthetics.
Product Definition:
A truck wheel is a large, round metal disc that is attached to the axle of a truck. The tire is then mounted on top of the wheel. Truck wheels are important because they provide support for the vehicle and allow it to move.
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 car parts such as wheel, engine block and others.
Forging:
Forging is a process of manufacturing steel where the metal is heated and rolled at a very high temperature. The metal gets deformity while rolling due to uneven heating, cooling and changing shapes during the process. To overcome this problem, the final product is given an extra heat treatment which gives it's shape back again.
Application Insights:
The long-distance truck wheel application segment accounted for the largest revenue share of over 60.0% in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to an increase in demand from construction, mining, agriculture and logistics industries across various regions including North America, Europe and Asia Pacific.
The short-distance truck wheel application segment is expected to witness significant growth during the forecast period owing to a rise in demand from distribution centers as well as warehouses within the economies of Latin America such as Brazil, Argentina and Colombia among others. In addition, countries such as India have witnessed an upsurge in manufacturing facilities for electronic goods which has led to increased utilization of trucks for transportation purposes which will further boost product demand during the forecast period.
Regional Analysis:
Asia Pacific dominated the global truck wheel market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from developing countries such as India, China, and Japan. Furthermore, rising investments in infrastructure development are also expected to drive the regional market over the forecast period.
The North America region accounted for a significant share of global revenue in 2017 owing to high demand from U.S., which is one of the developed nations with highest per capita income level across all regions globally since 1776 till 2018 according to IMF data (International Monetary Fund).
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 growth can be attributed to the increasing demand for commercial vehicles from various end-use industries, such as logistics, transportation, and manufacturing.
- Technological advancements: The truck wheel market is witnessing significant technological advancements in terms of design and materials used. This is helping manufacturers offer advanced products that are compliant with the latest safety and emission norms.
- Rising disposable income: A rise in disposable income has led to an increase in consumer spending on luxury items such as trucks and their wheels/rims/tires. This is providing a boost to the truck wheel market growth worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck Wheel Market Research Report
By Type
Casting, Forging, Other
By Application
Long Distance Truck, Short Distance Truck
By Companies
CITIC Dicastal, Borbet, Ronal Wheels, Superior Industries, Enkei Wheels, Lizhong Group, Alcoa, Wanfeng Auto, Iochpe-Maxion, Zhejiang Jinfei Holding Group, Topy Group, Zhongnan Aluminum Wheels, 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
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Truck Wheel Market Report Segments:
The global Truck 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
Long Distance Truck, Short Distance Truck
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
- Zhongnan Aluminum Wheels
- Accuride
- Steel Strips Wheels
Highlights of The Truck 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:
- Long Distance Truck
- Short Distance Truck
- 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 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
- 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?
A truck wheel is a large, heavy object that is mounted on the front of a truck and used to move the vehicle.
Some of the key players operating in the truck 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, Zhongnan Aluminum Wheels, Accuride, Steel Strips Wheels.
The truck wheel 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 Truck 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 Wheel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Truck 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 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 Wheel Market Size & Forecast, 2018-2028
4.5.1 Truck Wheel Market Size and Y-o-Y Growth
4.5.2 Truck Wheel Market Absolute $ Opportunity
Chapter 5 Global Truck 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 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 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 Wheel Market Size Forecast by Applications
6.2.1 Long Distance Truck
6.2.2 Short Distance Truck
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck 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 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 Wheel Analysis and Forecast
9.1 Introduction
9.2 North America Truck 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 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 Wheel Market Size Forecast by Applications
9.10.1 Long Distance Truck
9.10.2 Short Distance Truck
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 Wheel Analysis and Forecast
10.1 Introduction
10.2 Europe Truck 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 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 Wheel Market Size Forecast by Applications
10.10.1 Long Distance Truck
10.10.2 Short Distance Truck
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 Wheel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Truck 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 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 Wheel Market Size Forecast by Applications
11.10.1 Long Distance Truck
11.10.2 Short Distance Truck
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 Wheel Analysis and Forecast
12.1 Introduction
12.2 Latin America Truck 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 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 Wheel Market Size Forecast by Applications
12.10.1 Long Distance Truck
12.10.2 Short Distance Truck
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 Wheel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Truck 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 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 Wheel Market Size Forecast by Applications
13.10.1 Long Distance Truck
13.10.2 Short Distance Truck
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 Wheel Market: Competitive Dashboard
14.2 Global Truck 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 Zhongnan Aluminum Wheels
14.3.13 Accuride
14.3.14 Steel Strips Wheels
