Saloon Wheel Market size is estimated to be USD output current value here in 2024 and is expected to reach USD output forecast value here by 2033 at a CAGR of output cagr value here% from 2026 to 2033.
The global Saloon Wheel Market was valued at approximately USD 1.2 billion in 2022, and it is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. This market expansion can be attributed to increasing consumer demand for advanced automotive components and the rise in car production globally. The demand for lightweight, durable, and cost-effective saloon wheels has been driving innovation in wheel design and materials. Moreover, the growing popularity of premium and luxury cars is further propelling the growth of the market. North America holds a significant share of the market, accounting for approximately 30% in 2022, driven by strong automotive manufacturing and high vehicle ownership rates. The European market follows closely, with the demand in regions such as Germany, France, and the UK being substantial. Europe represented around 27% of the market share in 2022. The Asia Pacific region, particularly China and India, is expected to witness the highest growth during the forecast period due to the rapid expansion of the automotive sector and increased production capacities of local manufacturers. Asia Pacific's market share was approximately 25% in 2022 and is expected to rise as the region becomes the global hub for automotive production.
In terms of regional opportunities, the growing trend of electric vehicles (EVs) is likely to provide new avenues for market expansion in the coming years. The shift towards EVs requires modifications in wheel designs, with a focus on lightweight and energy-efficient wheels, which opens new growth avenues in markets like North America and Europe. Additionally, the rise of automotive customization in key regions like North America offers opportunities for premium and aftermarket wheels. In emerging markets, particularly in Asia Pacific, there is a significant opportunity driven by the increasing middle-class population, rising disposable incomes, and improving infrastructure. These factors collectively contribute to the anticipated growth of the saloon wheel market, especially in countries like China, India, and Indonesia.
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CITIC Dicastal
Borbet
Ronal Wheels
Superior Industries
Enkei Wheels
Lizhong Group
Wanfeng Auto
Iochpe-Maxion
Zhejiang Jinfei Holding Group
Topy Group
Zhongnan Aluminum Wheels
Accuride
Steel Strips Wheels
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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 Saloon Wheel Market
Passenger Cars
Light Commercial Vehicles
Heavy-Duty Trucks
Sports Cars
Luxury Vehicles
Aluminum Alloy
Steel
Carbon Fiber
Magnesium
Plastic Composites
Small Wheels (15 inches or less)
Medium Wheels (16-18 inches)
Large Wheels (19-21 inches)
Performance Wheels (22 inches and above)
Alloy Wheels
Steel Wheels
Custom Wheels
Racing Wheels
OEM (Original Equipment Manufacturer) Wheels
Individual Consumers
Fleet Owners
Automobile Manufacturers
Repair Shops and Garages
Online Retailers
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 Saloon 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 Saloon Wheel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Saloon Wheel Market, By Type
6. Global Saloon Wheel Market, By Application
7. Global Saloon Wheel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Saloon Wheel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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