Automotive Wheel Trends 2017: Highest growth in Automobile Industry

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Automotive Wheel Trends 2017 Highest growth in
Automobile Industry Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Automotive Wheel Market

• Increasing investments on budget cars by OEMs in
  emerging countries will drive the industry
  growth. Factors such as advancement in
  technology, tax incentives along with rise in
  sales of passenger cars will propel automotive
  wheel market size.
• Shift in consumer preference on improved driving
  including enhanced acceleration, quick braking
  and better performance will support the
  automotive wheel market growth.
• Enhanced promotions on budget cars by
  manufacturers will create new opportunities in
  the forecast year. Global automotive industry
  witnessed significant growth with vehicle
  production over 95 million units in 2016.

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Continued...

• Strong demand for cost effective passenger cars
  and commercial vehicles are expected to propel
  the industry growth. Technological advancement
  accompanied by rising demand for corrosion
  resistance components will drive automotive wheel
  demand.
• The U.S. automotive wheel market was worth over
  USD 10 billion in 2016. Stringent vehicle safety
  norms associated to efficient braking system will
  stimulate product demand.
• Development in internal combustion engine with
  introduction of V2V technology are the factors
  driving the industry demand. Increasing vehicle
  customization and component replacement due to
  increasing accident, corrosion and scratches will
  propel the aftermarket industry.

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Europe Automotive Wheel Market Size, By Vehicle,
2016 2024 (USD Million)

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360 Analysis

• Product Analysis
• Increasing consumer preference for comfort,
  enhanced acceleration, optimum rim dimensions
  along with corrosion-resistant sturdy vehicle
  components will propel the product demand.
• Regional Analysis
• U.S. automotive wheel market size could see over
  USD 14 billion in sales by 2024. Vehicle safety
  Norms and the need for efficient braking has
  encouraged product demand.
• Europe will witness growth over 4 up to 2024.
  Stringent EU regulations on vehicle emissions
  efficiency include euro 6 and 6/VI for light-duty
  and heavy-duty vehicles respectively.
• Competitive Market Share
• Maxion, Ronal Group, UNI Group, Alcoa,
  Trelleborg, Magnetto, Mefro, Enkei, Borbet are
  the notable industry participants in automotive
  wheel market. Other major players include Alcar,
  Otto Fuchs, Saint Jean, Fondmetals, Breyton and
  HRE.

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