Lucintel Blog: Lucintel Forecasts Automotive Steel Wheels Market to Reach $XX Billion by 2027

According to the recent study the automotive steel wheels market is projected to reach an estimated $XX billion by 2027 from $XX billion in 2022, at a CAGR of 3% to 5% from 2022 to 2027. Growth in this market is primarily driven by increase in demand for lightweight steel wheels, increasing adoption of electrical cars and improved vehicle dynamics.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in automotive steel wheels market by rim size (13–15 inches, 16–18 inches, 19–21 inches, and more than 21 inches), vehicle type (passenger vehicles, heavy commercial vehicles, and light commercial vehicles), end-user (OEM and aftermarket) and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link

https://www.lucintel.com/automotive-steel-wheels-market.aspx

“13–15 inches market is expected to remain the largest segment during the forecast period.”

Based on rim size, the automotive steel wheels market is segmented into 13–15 inches, 16–18 inches, 19–21 inches, and more than 21 inches. Lucintel forecasts that the 13–15 inches market is expected to remain the largest segment due to the increase in the width of the wheel and the size of the tire's sidewall reduces to preserve the tire's total diameter.

“Within the automotive steel wheels market, the passenger vehicles segment is expected to remain the largest vehicle type.”

Based on vehicle type the passenger vehicles segment is expected to witness the highest growth over the forecast period due to the increasing adoption of steel wheels because of their cost-effectiveness and demand for steel wheels is increasing in the passenger vehicles.

“Asia pacific will dominate the automotive steel wheels market in near future.”

APAC will remain the largest region due to increasing sales of passenger cars and Commercial vehicles in India and China, and rise in the adoption of steel wheels to improve vehicle fuel efficiency.

Download Brochure of this report by clicking on https://www.lucintel.com/automotive-steel-wheels-market.aspx.

Major players of automotive steel wheels market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Automotive Wheels Ltd., ALCAR WHEELS GMBH, MAXION Wheels, Steel Strips Groups, Topy Industries Ltd, Klassic Wheels Ltd., Mangels Industrial SA, Shanghai Baosteel Autoparts Co. Ltd., Accuride Corp. are among the major automotive steel wheels providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-steel-wheels-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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