Overview
A major limitation faced by the automotive wheel hub market is the high price of wheels in aftermarkets. A major opportunity in the automotive wheel hub market is the rising focus of automotive firms such as Volvo, Tesla, BMW AG to produce electric vehicles and hybrid electric vehicles. This is expected to create a considerable demand for automotive wheel hubs in the market. Both Volvo and BMW plan to sell 1 million electric vehicles in the coming years. Furthermore, the advent of advanced driver assistance system (ADAS) and autonomous driving (AD) is likely to generate requirement of high quality wheels and hubs. Global automotive wheel hub market can be categorized into Aluminium Wheels, Steel Wheels and Alloy Wheels. The alloy wheel segment is estimated to hold the largest share in the global automotive wheel hub market. The market growth in this segment can be attributed to the improved vehicle dynamics with lightweight alloy wheels and increased demand for lightweight materials to comply with stringent emission norms. Steel wheel hub segment also has a substantial growth in the automotive wheel hub market over the forecast period. Global automotive wheel hub market can be segregated into Passenger Vehicles and Commercial Vehicles. The passenger vehicles segment is estimated to hold the largest share of the automotive wheel hub market. The majority of mid and premium passenger vehicles, which provide greater comfort and convenience, use alloy wheels. Additionally, factors such as the sizeable number of luxury vehicles in Europe and North America and the increasing demand for luxury vehicles in the Asia Pacific region are increasing the demand for market. In the Asia Pacific region, the demand for luxury vehicles is growing due to the increasing purchasing power of consumers and the growing demand for comfort and safety features in a vehicle. In terms of geography the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is an important
market for automotive wheel hub. China is a major market for automotive wheel hub in Asia Pacific. In Asia Pacific, China witnessed significant y-o-y growth in vehicle sales. India and Japan are other key automotive wheel hub markets in the region. The automotive wheel hub market in India is likely to expand as India follows China in terms of y-o-y growth in vehicles sales. The automotive wheel hub market in Japan is expected to deal due to decrease in vehicles sales in the region. North America follows APAC in terms of market size in the automotive wheel hub market. The U.S is a major market for automotive wheel hub market in North America followed by Canada and Mexico. Europe keep an eye on North America in terms of market size in the global automotive wheel hub market. Germany is an important market for automotive wheel hub in Europe. Brazil is an important automotive wheel hub market in Latin America, however the market is likely to contract due to recession in Brazil. The recession is estimated to be over by the end of the year. Major firms operating in the automotive wheel hub market include Maxion Wheels (the U.S), Alcoa (the U.S), Accuride Wheel End Solutions (the U.S), CMWheels Ltd (the U.K), Borbet GmbH (Germany), Ronal (Switzerland), Enkei (Japan), ZHENGXING WHEEL GROUP CO., LTD (China), Citic Dicastal Wheel Manufacturing Co., Ltd (China), and Lioho Machinery (Taiwan). These players are progressively undertaking mergers and acquisitions, and product launches to develop and present new technologies and products in the market. Employment of research and development activities to develop fuel-efficient systems by these market players is assumed to capture higher market shares.
Major players in the Market are identified through secondary research and their Market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and Marketing executives. The percentage splits, Market shares, growth rate and breakdowns of the product Markets are determined through using secondary sources and verified through the primary sources. Inquiry about report OR ask for Sample Report @ https://www.profsharemarketresearch.com/inquiry/automotive-wheel-hubmarket-report-inquiry/ Global Automotive Wheel Hub Market: Product Type Aluminium Wheels Steel Wheels Alloy Wheels
Global Automotive Wheel Hub Market: Application Passenger Vehicle Commercial Vehicle Global Automotive Wheel Hub Market: Competitive Analysis Maxion Dicastal CMW Enkei Ronal Borbet Zenix Superior Alcoa Accuride Lioho Machinery Uniwheel Lizhong Wanfeng Shengwang Jinfei Faway Automotive Wheel Hub Market: Regional Analysis North America U.S.A Canada Europe France Germany Spain UK Rest of Europe Asia Pacific China
Japan India South East Asia
Latin America Brazil Middle East and Africa
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