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Automotive Carbon Wheels Market Insights Deep Analysis 2021-2028


 The global automotive carbon wheels market size is anticipated to be valued at $234 million by 2028, surging from $130.1 million in 2020, at a noteworthy CAGR of 7.8%.

Analysis of Covid-19 Impact on Automotive Carbon Wheels Market

The Covid-19 impact on automotive carbon wheels market demand has been negative. The imposed lockdown measures across the world affected the automobile industry for the sales of new vehicles as well as reduced in mobility of passengers and reduced driving time were witnessed globally. The reduced demand for vehicles led to reduction in automobile production, affecting the automotive carbon wheels market.

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Global Automotive Carbon Wheels Market Analysis

The increasing demand in the commercial vehicles sector for the reduction the weight of the vehicle and improving operational performance is expected to aid the growth of automotive carbon wheels market. According to the International Organization of Motor Vehicle Manufacturers, an international trade association, headquartered in Paris, France, the global sales of commercial vehicles were 26,693,300 in 2019 and 24,372,388 in 2020. Sales of commercial vehicles fell only 8.69% in 2020, while passenger vehicles fell drastically from 15.89% in the passenger car segment, indicating strong global demand for commercial vehicles. These factors are expected to aid the growth of this market in the forecast period.

The rise in utilization of electric passenger cars for mobility all over the world is expected to open new scope of opportunities for the automotive carbon wheels market. “Global EV Outlook” report by "International Energy Agency”, in 2020, sales of electric mobility cars reached 2.1 million units globally in 2019. The adoption of carbon wheels in electric vehicles is expected to reduce the wight of the electric vehicles and aid in improving the vehicles’ efficiency, making them more environment friendly. These factors are expected to positively impact the automotive carbon wheels market and open new scope of opportunities in the forecast period.

Global Automotive Carbon Wheels Market, Segmentation

The global automotive carbon wheels market is segmented based on vehicle type, distribution channel, and region.

Vehicle Type:

The vehicle type segment is further classified into passenger cars, commercial vehicles, and two-wheelers. Among these passenger cars sub-segment is anticipated to have the dominating market share in the forecast period and surpass $150.2 million by 2028, with an increase from $84.7 million in 2020.

Distribution Channel:

The distribution channel segment is further divided into original equipment manufacturers and aftermarket. The original equipment manufacturers sub-segment is projected to be most dominating in the global market and register a revenue of $138.5 million during the forecast timeframe of 2021-2028.

Region:

The automotive carbon wheels market forecast for the Asia-Pacific region was $28.4 million in 2020 and is further projected to reach up to $53.6 million by 2028. The Asia-Pacific region is expected to be the most lucrative region for the automotive carbon wheels market in the forecast period.

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Key Players in the Global Automotive Carbon Wheels Market

  1. Carbon Revolution  
  2. Dymag Group Limited       
  3. ESE Carbon,
  4. ROTOBOX d.o.o.    
  5. Litespeed Racing LLC        
  6. HITACHI METALS, LTD.    
  7. Phoenix Wheel Company, Inc.      
  8. Rolko Kohlgrüber GmbH   
  9. Thyssenkrupp AG   
  10. Ronal Group

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

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