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The global high performance wheels market is expected to grow at a CAGR of 8% in the forecast period of 2024-2032, to attain a value of nearly USD 48.41 billion by 2032.
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High performance wheels offer reduced weight, high braking and superior acceleration. They are extensively used in premium automotive applications to improve not only the aesthetic appearance but also the performance of the vehicle. As the automotive sector is the major contributor of air pollution, governments of various countries are imposing strict rules and regulations to compel automotive manufacturers to develop environment-friendly components and vehicles. This, in turn, is increasing the production of environmental-friendly vehicles, such as high performance wheels and lightweight products. Hence, prominent companies are trying to keep up with the norms and are developing vehicles that are less likely to cause damage to the environment, further catalysing the growth of high performance wheels industry. Moreover, the growing demand for lightweight vehicles with aesthetic appearance and superior performance is aiding the growth of the high performance wheel industry.
In the automotive industry, high performance wheels are wheels that are made from an alloy of aluminium or magnesium. Alloys are mixtures of a metal and other elements. They generally provide greater strength over pure metals, which are usually much softer and more ductile.
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Based on material, the market is segmented into:
The market can be broadly categorised on the basis of its vehicle type into:
The major sales channels of high performance wheels are:
The EMR report looks into the regional markets of high performance wheels like North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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High performance wheels can enhance the appearance of any car, including sedans, SUVs or hatchback models. Moreover, high performance wheels are lighter, visually appealing, provide better heat conduction and conserve better fuel economy. Vehicle manufacturers are introducing vehicle models pre-equipped with high performance wheels to improve the wear and tear of tyres, which is bolstering the market growth. The rising demand for performance cars with aesthetic appearance and technological advancement is augmenting the industry growth. The rising demand for premium vehicles owing to the evolving consumer preference for safe and sustainable vehicles is expected to boost the market growth over the forecast period. Additionally, the development of technologically advanced materials that can provide heat dissipation and corrosion resistive properties to the wheels is further expected to fuel the market growth.
The report presents a detailed analysis of the following key players in the global high performance wheels market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:l
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Breakup by Material |
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Breakup by Vehicle Type |
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Breakup by Sales Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global High Performance Wheels Market Analysis
8.1 Key Industry Highlights
8.2 Global High Performance Wheels Historical Market (2018-2023)
8.3 Global High Performance Wheels Market Forecast (2024-2032)
8.4 Global High Performance Wheels Market by Material
8.4.1 Aluminium
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Steel
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Magnesium
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Carbon Fibre
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global High Performance Wheels Market by Vehicle Type
8.5.1 Premium Compact
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Entry-Level Luxury
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Mid-Size Luxury
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global High Performance Wheels Market by Sales Channel
8.6.1 Original Equipment Manufacturers (OEM)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Aftermarket
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global High Performance Wheels Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America High Performance Wheels Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe High Performance Wheels Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific High Performance Wheels Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America High Performance Wheels Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa High Performance Wheels Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Vossen Wheels
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Automotive Wheels Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 CITIC Dicastal Wheel Manufacturing Co., Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Tuff Industries (S) Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global High Performance Wheels Market: Key Industry Highlights, 2018 and 2032
2. Global High Performance Wheels Historical Market: Breakup by Material (USD Billion), 2018-2023
3. Global High Performance Wheels Market Forecast: Breakup by Material (USD Billion), 2024-2032
4. Global High Performance Wheels Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
5. Global High Performance Wheels Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
6. Global High Performance Wheels Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
7. Global High Performance Wheels Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
8. Global High Performance Wheels Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global High Performance Wheels Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America High Performance Wheels Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America High Performance Wheels Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe High Performance Wheels Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe High Performance Wheels Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific High Performance Wheels Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific High Performance Wheels Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America High Performance Wheels Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America High Performance Wheels Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa High Performance Wheels Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa High Performance Wheels Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global High Performance Wheels Market Structure
The global high performance wheels market is projected to grow at a CAGR of 8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period 2024-2032 to reach nearly USD 48.41 billion by 2032.
The major market drivers include the growing use of high performance wheels in premium vehicles and the rising preference for lightweight and environmentally-friendly vehicles.
The key trends guiding the market include the rising demand for vehicles with aesthetic appearance and technological advancements in the automotive sector to create more advanced wheels.
The major materials used for the product are aluminium, steel, magnesium, and carbon fibre, among others.
The various vehicle types considered in the market report are premium compact, entry-level luxury, and mid-size luxury, among others.
The leading sales channel in the market are original equipment manufacturers (OEM) and aftermarket.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading players in this market are Vossen Wheels, Automotive Wheels Ltd, CITIC Dicastal Wheel Manufacturing Co., Ltd., and Tuff Industries (S) Ltd., among others.
The global high performance wheels market is driven by the increasing demand of lightweight vehicles in automotive industry. Aided by technological advancements, the market is expected to witness a growth in the forecast period of 2024-2032 growing at a CAGR of 8% to attain a value of approximately USD 48.41 billion by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on material, the high performance wheels industry can be segmented into aluminium, steel, magnesium and carbon fibre, among others. On the basis of vehicle type, the industry is segmented into premium compact, entry-level luxury, and mid-size luxury, among others. Based on sales channel, the market is segmented into original equipment manufacturers (OEM) and aftermarket. The major regional markets for high performance wheels are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Vossen Wheels, Automotive Wheels Ltd, CITIC Dicastal Wheel Manufacturing Co., Ltd., and Tuff Industries (S) Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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