Market Overview:
The global vehicle 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 cars, multi utility vehicles, tractors and trucks, two and three wheelers, and others across the globe. Additionally, the increasing demand for steel wheels from OEMs as well as aftermarket players is also expected to fuel the growth of the global vehicle steel wheels market over the forecast period.
Product Definition:
steel wheels are the standard type of wheel found on most cars and light trucks. They are made from stamped steel, which is a process that uses a large machine to create a disc shape from a sheet of metal.
Passenger Cars:
Passenger cars are the most common type of vehicles that are used for transportation. They have a seating capacity of no more than eight persons and are designed to carry passengers from one place to another. The global passenger car market is expected to grow at a CAGR (Compound Annual Growth Rate) of 3% over the forecast period, which will lead to an increase in demand for vehicle steel wheels.
Multi Utility Vehicles:
Multi utility vehicles (MUV) are designed to carry more than one load at a time. They can be used for transportation of goods and passengers as well. MUVs include trucks, vans, buses, trailers or carriers and car/SUV carriers.
Application Insights:
OEMs generate higher revenues as they control the entire supply chain. They use their influence to reduce prices below the cost of production, which is a major factor contributing to high market penetration in developing economies including China and India. The OEM segment dominated the global vehicle steel wheels market accounting for over 70% share of the overall revenue in 2017.
The aftermarket segment is expected to expand at a CAGR of XX% from 2018 to 2030 owing to growing demand for replacement parts and accessories including wheel refurbishing services offered by specialty shops across countries such as Germany, Japan, South Korea and China owing to their large population base that comprises mostly young adults who drive vehicles frequently due to rising income levels coupled with low ownership rates for two-wheelers and three-wheelers among others.
Regional Analysis:
Asia Pacific dominated the global vehicle steel wheels market in 2017 and is expected to continue its dominance over the forecast period. The region is home to some of the major automotive manufacturers such as Toyota, Honda, Suzuki, Hyundai, Tata Motors and others. These companies are engaged in manufacturing passenger cars and commercial vehicles on a large scale. Thus they have a strong foothold across Asia Pacific countries such as India, China Japan etc., which will boost regional growth during the forecast period.
The North American market for vehicle steel wheels was valued at USD X billion in 2017 owing to high demand from U.S.
Growth Factors:
- Increasing demand for lightweight vehicles: The global trend of downsizing and weight reduction in vehicles is expected to drive the demand for vehicle steel wheels over the forecast period. Steel wheels are lighter in weight as compared to other wheel materials, such as aluminum and magnesium, which makes them a preferred choice for vehicle manufacturers.
- Technological advancements: The automotive industry is witnessing rapid technological advancements, with new wheel designs being developed on a regular basis. This is expected to fuel the demand for vehicle steel wheels over the forecast period.
- Rising disposable income: A rise in disposable income across emerging economies is leading to an increase in consumer spending on automobiles, which is subsequently driving the demand for steel wheels worldwide.
- Stringent government regulations mandating use of safety-certified components: Stringent government regulations mandating use of safety-certified components in automobiles are resulting in an increase in adoption of steel wheels by automakers worldwide, thereby propelling market growth during the forecast period.. 5) Growing popularity of alloy rims among consumers: The growing popularity of alloy rims among consumers has resulted in a shift from traditional metal/steel rims to alloy rims across regions such as North America and Europe . This trend is anticipated to have a positive impact on market growth during the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle Steel Wheels Market Research Report
By Type
Passenger Cars, Multi Utility Vehicles, Tractors and Trucks, Two and Three Wheelers, Others
By Application
OEM, Aftermarket
By Companies
Iochpe-Maxion, Topy Industries, Accuride, Alcar Holding, Steel Strips Wheel, Fastco, U.S. Wheel Corp., Bharat Wheel, Unique Steel Wheels（The Carlstar Group)
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
200
Number of Tables & Figures
140
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Steel Wheels Market Report Segments:
The global Vehicle Steel Wheels market is segmented on the basis of:
Types
Passenger Cars, Multi Utility Vehicles, Tractors and Trucks, Two and Three Wheelers, 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
OEM, Aftermarket
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-Maxion
- Topy Industries
- Accuride
- Alcar Holding
- Steel Strips Wheel
- Fastco
- U.S. Wheel Corp.
- Bharat Wheel
- Unique Steel Wheels（The Carlstar Group)
Highlights of The Vehicle 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:
- Passenger Cars
- Multi Utility Vehicles
- Tractors and Trucks
- Two and Three Wheelers
- Others
- By Application:
- OEM
- Aftermarket
- 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 Vehicle 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?
Vehicle steel wheels are made from a variety of metals, including iron, steel, and aluminum. They're often used on cars and trucks because they're strong and durable.
Some of the key players operating in the vehicle steel wheels market are Iochpe-Maxion, Topy Industries, Accuride, Alcar Holding, Steel Strips Wheel, Fastco, U.S. Wheel Corp., Bharat Wheel, Unique Steel Wheels（The Carlstar Group).
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vehicle 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 Vehicle Steel Wheels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vehicle 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 Vehicle 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 Vehicle Steel Wheels Market Size & Forecast, 2020-2028
4.5.1 Vehicle Steel Wheels Market Size and Y-o-Y Growth
4.5.2 Vehicle Steel 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 Passenger Cars
5.2.2 Multi Utility Vehicles
5.2.3 Tractors and Trucks
5.2.4 Two and Three Wheelers
5.2.5 Others
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 OEM
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vehicle 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 Vehicle 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 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 Passenger Cars
9.6.2 Multi Utility Vehicles
9.6.3 Tractors and Trucks
9.6.4 Two and Three Wheelers
9.6.5 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 Market Size Forecast by Applications
9.10.1 OEM
9.10.2 Aftermarket
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 Passenger Cars
10.6.2 Multi Utility Vehicles
10.6.3 Tractors and Trucks
10.6.4 Two and Three Wheelers
10.6.5 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 Market Size Forecast by Applications
10.10.1 OEM
10.10.2 Aftermarket
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 Passenger Cars
11.6.2 Multi Utility Vehicles
11.6.3 Tractors and Trucks
11.6.4 Two and Three Wheelers
11.6.5 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 Market Size Forecast by Applications
11.10.1 OEM
11.10.2 Aftermarket
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 Passenger Cars
12.6.2 Multi Utility Vehicles
12.6.3 Tractors and Trucks
12.6.4 Two and Three Wheelers
12.6.5 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 Market Size Forecast by Applications
12.10.1 OEM
12.10.2 Aftermarket
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 Passenger Cars
13.6.2 Multi Utility Vehicles
13.6.3 Tractors and Trucks
13.6.4 Two and Three Wheelers
13.6.5 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) Market Size Forecast by Applications
13.10.1 OEM
13.10.2 Aftermarket
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 Vehicle Steel Wheels Market: Competitive Dashboard
14.2 Global Vehicle Steel Wheels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Iochpe-Maxion
14.3.2 Topy Industries
14.3.3 Accuride
14.3.4 Alcar Holding
14.3.5 Steel Strips Wheel
14.3.6 Fastco
14.3.7 U.S. Wheel Corp.
14.3.8 Bharat Wheel
14.3.9 Unique Steel Wheels（The Carlstar Group)
