Market Overview:
The global magnesium 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 lightweight vehicles and rising awareness about the benefits of using magnesium wheels. Magnesium wheels are lighter in weight as compared to traditional steel or aluminum wheels, which helps in reducing fuel consumption and improving vehicle performance. In addition, magnesium is a non-ferrous metal that does not corrode easily, making it an ideal material for wheel applications. The global magnesium wheel market can be segmented on the basis of type into cast and forged Wheels. The cast Wheels segment is expected to account for a larger share of the market than forged Wheels during the forecast period owing to their lower cost and easy manufacturing process. However, forged Wheels are gaining popularity due their superior strength and durability as compared to cast Wheels. On the basis of application,the global magnesium wheel market can be divided into OEMs (original equipment manufacturers)and aftermarket segments .
Product Definition:
A magnesium wheel is a wheel that uses magnesium as the main component in its construction. Magnesium wheels are often used in racing cars and high performance vehicles because of their light weight and strength.
Cast:
Cast is a type of alloy which consists of metals such as copper, zinc, and aluminum. The most common types of cast alloys are bronzes and iron alloys. Iron-based castings are widely used in the automotive industry owing to their high strength properties.
The magnesium wheel market is expected to grow at a significant rate over the forecast period on account of rising demand for lightweight vehicles across the globe coupled with stringent government regulations regarding carbon emissions from vehicles.
Forged:
Forged magnesium wheels are manufactured by heating the magnesium metal to its melting point, then forming a billet which is further processed into finished product. The process does not require any additional alloying elements and results in better strength and corrosion resistance properties of the wheel.
The forged magnesium wheels are lighter than aluminum counterparts owing to lack of material used in its manufacturing; this factor helps improve vehicle's performance as well as fuel efficiency.
Application Insights:
Automotive OEM accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. Magnesium wheels are lightweight, which reduces CO2 emissions and increases fuel efficiency, thereby driving their demand in automotive applications.
Magnesium wheels have high strength-to-weight ratio which makes them suitable for use in off-road vehicles including construction equipment, agricultural machinery and trucks among others. The rising demand for magnesium products from various industries including aerospace is expected to drive their usage as an aftermarket product over the forecast period. Increasing production capacities of forged magnesium products by companies such as Mecalux among others will boost industry growth over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a volume share of 68.1% in 2017, which can be attributed to growing automotive production across key countries such as India, China, Japan and South Korea. In addition, rising disposable income levels coupled with increasing passenger car sales is anticipated to drive the regional market further.
The European region occupied second position in terms of revenue after Asia Pacific owing to high demand from OEMs across major countries including Germany and France for commercial vehicles as well as passenger cars has been witnessing significant growth over the past few years.
Growth Factors:
- Increasing demand for lightweight vehicles: Magnesium wheels are lighter in weight as compared to other types of wheels, which makes them ideal for vehicles that require high fuel efficiency. This is one of the key growth drivers for the magnesium wheel market.
- Growing popularity of luxury cars: The demand for luxury cars is growing at a rapid pace across the globe, and this is expected to drive the demand for magnesium wheels in the coming years.
- Rising awareness about vehicle safety: Consumers are becoming increasingly aware about the importance of vehicle safety and are looking for features that can improve safety levels. Magnesium wheels offer superior braking performance as compared to other types of wheels, making them a preferred choice among consumers.
- Technological advancements: The automotive industry is constantly evolving with new technologies being introduced every day. This has led to an increase in R&D spending by automakers, which has resulted in better and more advanced magnesium wheel products being launched in the market place .This trend is likely to continue in future, driving growth prospects for magnesium wheel market players . 5) Stringent government regulations pertaining to vehicular emissions: Governments around the world are implementing stringent regulations pertaining to vehicular emissions standards .This is leading automakers towards adopting lightweight technologies such as magnesiumwheels ,which helps reduce emissions from vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnesium Wheel Market Research Report
By Type
Cast, Forged
By Application
OEM, Aftermarket
By Companies
SMW Engineering, MKW Alloy, BBS USA, PVM Brakes & Wheels Mannheim, APP Tech, Enkei Corporation, Marvic Wheels, Marchesini, OZ Group, Tan-ei-sya, Minilite, Washi Beam, Cromodora 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
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Magnesium Wheel Market Report Segments:
The global Magnesium Wheel market is segmented on the basis of:
Types
Cast, Forged
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:
- SMW Engineering
- MKW Alloy
- BBS USA
- PVM Brakes & Wheels Mannheim
- APP Tech
- Enkei Corporation
- Marvic Wheels
- Marchesini
- OZ Group
- Tan-ei-sya
- Minilite
- Washi Beam
- Cromodora Wheels
Highlights of The Magnesium 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:
- Cast
- Forged
- 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 Magnesium 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?
Magnesium wheel is a type of exercise equipment that helps people with chronic pain or arthritis to improve their mobility. The magnesium wheel consists of a series of circles that rotate when you walk or stand on it. This motion exercises the muscles in your legs and feet, which can help reduce pain and inflammation.
Some of the major players in the magnesium wheel market are SMW Engineering, MKW Alloy, BBS USA, PVM Brakes & Wheels Mannheim, APP Tech, Enkei Corporation, Marvic Wheels, Marchesini, OZ Group, Tan-ei-sya, Minilite, Washi Beam, Cromodora Wheels.
The magnesium wheel market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Magnesium Wheel Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Magnesium Wheel Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Magnesium Wheel Market - Supply Chain
4.5. Global Magnesium Wheel Market Forecast
4.5.1. Magnesium Wheel Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Magnesium Wheel Market Size (000 Units) and Y-o-Y Growth
4.5.3. Magnesium Wheel Market Absolute $ Opportunity
5. Global Magnesium Wheel Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Magnesium Wheel Market Size and Volume Forecast by Type
5.3.1. Cast
5.3.2. Forged
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Magnesium Wheel Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Magnesium Wheel Market Size and Volume Forecast by Application
6.3.1. OEM
6.3.2. Aftermarket
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Magnesium Wheel Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Magnesium Wheel Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Magnesium Wheel Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Magnesium Wheel Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Magnesium Wheel Demand Share Forecast, 2019-2026
9. North America Magnesium Wheel Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Magnesium Wheel Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Magnesium Wheel Market Size and Volume Forecast by Application
9.4.1. OEM
9.4.2. Aftermarket
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Magnesium Wheel Market Size and Volume Forecast by Type
9.7.1. Cast
9.7.2. Forged
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Magnesium Wheel Demand Share Forecast, 2019-2026
10. Latin America Magnesium Wheel Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Magnesium Wheel Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Magnesium Wheel Market Size and Volume Forecast by Application
10.4.1. OEM
10.4.2. Aftermarket
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Magnesium Wheel Market Size and Volume Forecast by Type
10.7.1. Cast
10.7.2. Forged
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Magnesium Wheel Demand Share Forecast, 2019-2026
11. Europe Magnesium Wheel Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Magnesium Wheel Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Magnesium Wheel Market Size and Volume Forecast by Application
11.4.1. OEM
11.4.2. Aftermarket
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Magnesium Wheel Market Size and Volume Forecast by Type
11.7.1. Cast
11.7.2. Forged
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Produc Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Magnesium Wheel Demand Share, 2019-2026
12. Asia Pacific Magnesium Wheel Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Magnesium Wheel Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Magnesium Wheel Market Size and Volume Forecast by Application
12.4.1. OEM
12.4.2. Aftermarket
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Magnesium Wheel Market Size and Volume Forecast by Type
12.7.1. Cast
12.7.2. Forged
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Magnesium Wheel Demand Share, 2019-2026
13. Middle East & Africa Magnesium Wheel Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Magnesium Wheel Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Magnesium Wheel Market Size and Volume Forecast by Application
13.4.1. OEM
13.4.2. Aftermarket
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Magnesium Wheel Market Size and Volume Forecast by Type
13.7.1. Cast
13.7.2. Forged
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Magnesium Wheel Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Magnesium Wheel Market: Market Share Analysis
14.2. Magnesium Wheel Distributors and Customers
14.3. Magnesium Wheel Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. SMW Engineering
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. MKW Alloy
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. BBS USA
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. PVM Brakes & Wheels Mannheim
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. APP Tech
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Enkei Corporation
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Marvic Wheels
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Marchesini
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. OZ Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Tan-ei-sya
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Minilite
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Washi Beam
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Cromodora Wheels
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook