Selbyville, Delaware, Aug. 15, 2022 (GLOBE NEWSWIRE) --
The global carbon wheels market size is expected to record a valuation of USD 1,112,800 thousand by 2030, according to the most recent study by Global Market Insights Inc. A positive outlook toward electric vehicles will drive the industry trends.
The rising uptake of luxury bikes and cars across developed nations due to surging disposable incomes will boost the demand for carbon wheels. High scrap rate may emerge as a major restraining factor, cites the report. Optimizing steel scrap rates is very pivotal given their contribution to better environmental health. However, promising product development by major players may help tackle the restraint. Increasing initiatives by key companies and government authorities may also help in eventually reducing product costs.
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Based on vehicle, the report segregates the carbon wheel market into commercial vehicles, premium/luxury vehicles, two-wheelers, and passenger cars. The two-wheelers segment is predicted to observe 38% growth rate till 2030 owing to the mounting focus of several two-wheeler manufacturers on the use of lightweight composites to reduce fuel consumption and vibrations in vehicles.
The aftermarket carbon wheels market is anticipated to reach USD 405,000 thousand through 2030. This growth is attributed to the expansion of e-commerce websites globally that enable promotional offers and lower costs for wheels. Driven by the shifting interest of consumers towards online shopping, along with companies adopting new ways of broadening their customer base, will foster the product penetration, thereby augmenting the segment growth.
The Latin American carbon wheels market is projected to surpass USD 41,500 thousand in revenue by 2030. The increasing presence of automotive manufacturers may be a key factor pushing regional business growth. In addition, the soaring number of initiatives undertaken by governments to control the global warming situation will accelerate the industry outlook across the region.
Middle East & Africa carbon wheel market is estimated to attain a CAGR of over 32% through 2030. Low fuel costs and favorable tax regimes will help MEA emerge as a vital revenue pocket. The availability of attractive insurance & finance options makes it easier for consumers to buy luxury cars in the region, thereby favoring the industry scenario.
Key participants operating in the industry are Thyssenkrupp AG, Geric B.V., Carbon Revolution Limited, ESE Carbon Company, Ronal Group, Blackstone Tek, Rotobox D.O.O., Phoenix Wheel Company, Inc., and Dymag Group ltd. These leaders majorly focus on new product developments and reducing production costs of the product to strengthen their market position.
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Table of Contents (ToC) of the report
Chapter 3 Carbon Wheels Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 - 2030
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Distribution chain analysis
3.3.4 End users
3.3.5 Profit margin analysis
3.3.6 Value chain disruptions due to COVID-19
3.3.7 Vendor matrix
3.4 Technology landscape
3.5 Regulatory landscape
3.6 Industry best practices & key buying criteria
3.7 COVID-19 impact on the automotive industry
3.8 Automotive wheel demand scenario
3.9 Regional pricing
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Growing adoption of premium vehicles
3.10.1.2 Rising initiatives by industry players to reduce product cost
3.10.1.3 Increasing range for e-vehicles
3.10.2 Industry pitfalls & challenges
3.10.2.1 High product cost
3.10.2.2 High scrap rate
3.11 Innovation & sustainability
3.12 Growth potential analysis, 2021
3.13 Porter’s analysis
3.14 Competitive landscape
3.15 PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/carbon-wheels-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
