DUBLIN, October 26, 2016 /PRNewswire/ —
Research and Markets has announced the addition of the “Global Alloy Wheels Aftermarket 2016-2020” report to their offering.
The report forecasts the global alloy wheels aftermarket to grow at a CAGR of 2.93% during the period 2016-2020.
One of the key trends for market growth will be adoption of advanced technology in manufacturing of alloy wheels. There are different production methods of wheels. Earlier, wheels were manufactured by the method of steel casting. But the problem with casting is the formation of air bubbles while pouring the hot molten liquid into the mold to get the required design. It causes the material to weaken, and there are higher chances of getting the alloy damaged when high pressure is applied.
According to the report, the aftermarket supplier takes advantage of the gap in terms of quality, flexibility, features, and cost and offers much more flexibility and customization at a lower price. Moreover, aftermarket alloy wheel price will be lower than the OEMs standard alloy wheels. The growing aspiration among millennials is acting as a driver for the growth of the alloy wheels aftermarket.
Further, the report states that there has been an increase in the fitment of alloy wheels done by OEMs. More and more vehicles, even in low variants, are being equipped with alloy wheels. OEMs are trying to tap the untapped market by equipping low variant vehicles with alloy wheels, posing a big challenge to the aftermarket alloy wheel suppliers. Some OEMs even equip the alloy wheels as a standard fitment during launch as a USP and later withdraw it. Tata Motors adopted this strategy when they launched Zest in 2014.
- Enkei Wheels
- Ronal Wheels
- Momo Wheels
- BBS Wheels
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by wheel size
PART 07: Geographical segmentation
PART 08: Leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/5gq5n7/global_alloy
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SOURCE Research and Markets