The global automotive steel wheels market is projected to reach $XX billion by 2027, at a CAGR of 3% to 5% during 2022-2027. The growth of automotive steel wheels market is driven by increase in demand for lightweight steel wheels, increasing adoption of electrical cars and improved vehicle dynamics.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the 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)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the automotive steel wheels market?
Q.4 What are some changing demands of customers in the automotive steel wheels market?
Q.5 What are the new developments in the automotive steel wheels market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this automotive steel wheels area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this automotive steel wheels market?

Emerging trends, which have a direct impact on the dynamics of the industry, include adoption of steel wheels in electric power vehicles, and technological advancements in manufacturing of automotive wheels.

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Market Segmentation:
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. The 13–15 inches segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, 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.
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.
Key Players in the automotive steel wheels market are 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.

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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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Brandon Fitzgerald
Lucintel
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