Automotive Two wheeler Wheel Rim Market to Grow with a CAGR of 7.1% Globally through to 2028
Rising Demand for Two-Wheelers, Advancements in
Material Technology, Global Expansion and Emerging Markets and Customization
and Aesthetics are factors driving the Global Automotive Two wheeler Wheel Rim
market in the forecast period 2024-2028.
According to TechSci Research report, “Global Automotive
Two wheeler Wheel Rim Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Automotive Two wheeler
Wheel Rim Market stood at USD 6 billion in 2022 and is anticipated to grow with
a CAGR of 7.1% in the forecast period, 2024-2028. The awareness among
individuals regarding vitamin supplements has led to favorable market
conditions for the global vitamin supplements market. Several factors
contribute to the growth of various vitamin supplement products.
The Global Automotive Two-wheeler Wheel Rim Market is
a vital and rapidly evolving segment within the broader automotive industry. It
plays a pivotal role in ensuring the safety, performance, and aesthetics of
motorcycles and scooters, which are popular modes of transportation globally.
This market has been experiencing sustained growth in recent years, driven by
several key factors. Firstly, the urbanization trend, especially in emerging
economies, has led to increased demand for affordable and efficient personal
mobility solutions. Two-wheelers, known for their maneuverability and
cost-effectiveness, have witnessed rising adoption rates, boosting the demand
for high-quality wheel rims. Secondly, technological advancements have been a
hallmark of this market. Manufacturers are continuously innovating in materials
and production techniques to meet the demands of modern riders. Lightweight
materials such as aluminum and advanced manufacturing processes like
die-casting and forging have become commonplace, enhancing the overall
performance and fuel efficiency of two-wheelers. Moreover, the integration of
smart sensors and embedded technology into wheel rims for functions like tire
pressure monitoring reflects the industry's commitment to enhancing safety and
user experience.
Browse over market data Figures spread through 180
Pages and an in-depth TOC on "Global Automotive
Two wheeler Wheel Rim Market”
One of the fundamental drivers of the Global
Automotive Two-wheeler Wheel Rim Market is the rapid urbanization sweeping
across the globe. As more people move to urban areas, the demand for efficient
and cost-effective personal mobility solutions has surged. Two-wheelers,
comprising motorcycles and scooters, have emerged as popular choices for
navigating the bustling city streets, offering a blend of maneuverability,
affordability, and convenience. Consequently, this increased adoption of
two-wheelers has driven the demand for high-quality wheel rims, as these
components are essential for ensuring the safety and performance of these
vehicles.
Technological advancements have been at the forefront
of shaping this market's landscape. Manufacturers are continually innovating in
materials, design, and production techniques to meet the evolving needs of
modern riders. A prominent trend in this regard is the adoption of lightweight
yet strong materials, primarily aluminum and, to a lesser extent, carbon fiber.
Aluminum alloys, in particular, have gained immense popularity due to their
superior strength-to-weight ratio, corrosion resistance, and ease of
manufacturing. These lightweight materials contribute not only to the overall
performance but also to the fuel efficiency of two-wheelers, a crucial
consideration in today's environmentally conscious world.
In addition to advanced materials, innovative
manufacturing processes have become a hallmark of the wheel rim market.
Techniques like die-casting and forging are now standard practices, allowing
manufacturers to produce wheel rims with unparalleled strength and durability.
Moreover, the advent of 3D printing technology has opened up new possibilities
in terms of design and customization, enabling the creation of complex and
intricate wheel rim structures that were once considered impractical. These
advancements underscore the industry's commitment to pushing the boundaries of
what is possible in terms of performance and aesthetics.
The global shift toward electric mobility is another
prominent trend shaping the Automotive Two-wheeler Wheel Rim Market. With
governments, consumers, and manufacturers alike prioritizing environmental
sustainability, electric two-wheelers have emerged as a promising solution.
However, these vehicles have unique requirements, demanding specialized wheel
rims that can accommodate the weight and characteristics of electric
powertrains and batteries. Wheel rim manufacturers are rising to this challenge
by developing designs that optimize the performance of electric two-wheelers
while maintaining the necessary strength and durability.
Sustainability and environmental concerns have left an
indelible mark on the wheel rim market. Manufacturers are increasingly focused
on adopting eco-friendly materials and processes, aligning with global efforts
to reduce carbon emissions and limit environmental impact. Aluminum, as a
recyclable material, has garnered significant attention in this regard.
Moreover, the industry is adopting eco-friendly coatings and finishes that not
only enhance the aesthetics of wheel rims but also reduce emissions during the
manufacturing process. Sustainability certifications and compliance with
stringent environmental regulations have become crucial benchmarks for
manufacturers aiming to demonstrate their commitment to green practices.
In response to changing consumer preferences,
customization and personalization have become increasingly significant in the
wheel rim market. Two-wheeler owners, particularly enthusiasts and those in the
premium segment, seek unique designs and finishes to make their vehicles stand
out. Manufacturers have recognized this demand and are offering a wide array of
design options, colors, and finishes for wheel rims. Some even provide bespoke
customization services, allowing customers to create wheel rims that reflect
their individual style and preferences. This trend enhances brand loyalty and
adds an element of exclusivity to the ownership experience.
Globalization has also played a pivotal role in
shaping the Automotive Two-wheeler Wheel Rim Market. Established manufacturers
are expanding their global footprints by setting up production facilities in
emerging markets, where the demand for two-wheelers is on the rise. This
strategic move helps reduce production costs, adapt to local preferences, and
tap into rapidly growing consumer bases. Additionally, international
collaborations and partnerships have become more common, facilitating the
exchange of technology, expertise, and best practices across borders. These
collaborations contribute to the industry's growth and innovation, enabling
manufacturers to stay competitive in an increasingly interconnected world.
Regulatory changes and safety standards have a
substantial impact on the wheel rim market. Governments worldwide are
implementing stringent regulations and quality standards to ensure the
reliability of wheel rims and their components. Compliance with these standards
is non-negotiable, as non-compliance can result in significant recalls and
financial penalties. Manufacturers are investing heavily in research and
development to meet or exceed regulatory requirements while also enhancing the
overall safety of wheel rims. This focus on safety aligns with broader efforts
to reduce accidents and fatalities on the road, making wheel rims an integral
part of the automotive safety ecosystem.
Major companies operating in Global Automotive
Two wheeler Wheel Rim Market are:
- Maxion Wheels
- Steel Strips Wheels Ltd
- ESE Carbon
- Accuride Corporation
- Superior Industries International, Inc.
- Ronal Group
- Trelleborg AB
- Borbet Gmbh
- Enkei International, Inc.
- Alcoa Wheels
Download
Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Global
Automotive Two-wheeler Wheel Rim Market is a dynamic sector within the
automotive industry, essential for the performance, safety, and aesthetics of
motorcycles and scooters worldwide. Recent trends reflect a market driven by
urbanization, where two-wheelers are becoming increasingly popular for their
affordability and maneuverability in congested cities. Technological
advancements, including the use of lightweight materials like aluminum and
innovative manufacturing processes, are enhancing wheel rim performance and
fuel efficiency. Moreover, the rise of electric two-wheelers is spurring
specialized rim designs to accommodate electric powertrains and batteries.
Sustainability concerns are driving the adoption of eco-friendly materials and
processes, while customization options are catering to consumer preferences. As
regulations tighten and safety standards rise, manufacturers are focusing on
compliance and innovation. The global expansion of production facilities and
market consolidation are further reshaping this dynamic industry. In summary,
the automotive two-wheeler wheel rim market is evolving to meet the demands of
modern riders, with an emphasis on technology, sustainability, and safety.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Automotive
Two wheeler Wheel Rim Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, Segmented By Material Type (Alloy, Steel, Carbon
Fiber), By Sales Channel (OEM, Aftermarket), By Region, By Competition,
2018-2028”, has evaluated the future growth potential of Global Automotive
Two wheeler Wheel Rim Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Automotive
Two wheeler Wheel Rim Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com