Forged and Rolled High-speed Wheel Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 1.8 Billion by 2033, exhibiting a CAGR of 5% from 2026 to 2033.
The Forged and Rolled High speed Wheel market size was valued at approximately USD 2.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. This market is primarily driven by increasing demand from the transportation and automotive sectors, particularly in regions such as North America and Europe, where the automotive industry is rapidly evolving. Asia Pacific, led by countries like China and Japan, is expected to exhibit the highest growth due to the rising adoption of high speed trains and the growing automotive manufacturing sector. In 2022, the North American region held around 27% of the market share, while Europe accounted for 25%, and Asia Pacific contributed 32% to the global market revenue.
Geographically, Asia Pacific is projected to maintain its dominance in the Forged and Rolled High speed Wheel market, with a CAGR of 5.1% during the forecast period, driven by robust infrastructure development and advancements in high speed rail networks. Europe is also expected to grow steadily, with a CAGR of 3.8%, fueled by the demand for advanced automotive and railway solutions. The North American region, while holding a significant share, is expected to witness slower growth at a CAGR of 3.1%, owing to the maturity of its market and a focus on innovation within existing infrastructure. Emerging economies in the Middle East and Latin America are likely to present new opportunities for market expansion as they develop transportation systems and industrial capabilities in the coming years.
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Interpipe
Nippon Steel corporation
Standard Steel
OMK Steel
Masteel Group
ZHIQI RAILWAY EQUIPMENT
Amsted Rail
Taiyuan Heavy Industry
Bochumer Verein Verkehrstechnik (BVV)
Lucchini RS
Datong ABC Castings Company Limited (DACC)
Xinyang Amsted Tonghe Wheels
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Forged and Rolled High-speed Wheel Market
Forged High-speed Wheels
Rolled High-speed Wheels
Automotive Industry
Aerospace Industry
Railways
Industrial Machinery
Sports and Recreation Equipment
Steel
Aluminum
Composite Materials
Automotive and Transportation
Heavy Machinery
Construction
Energy and Utilities
Forging
Rolling
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Forged and Rolled High-speed Wheel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Forged and Rolled High-speed Wheel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Forged and Rolled High-speed Wheel Market, By Type
6. Global Forged and Rolled High-speed Wheel Market, By Application
7. Global Forged and Rolled High-speed Wheel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Forged and Rolled High-speed Wheel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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