High Performance Wheels Market Witnesses A Steady Growth Of 10.89% During 2032

Zion Market Research has published a new report titled “Global High Performance Wheels Market – By Vehicle (Entry-Level Luxury Segment, Mid-Size Luxury Segment, Premium Compact Segment, And Others), By Material (Magnesium, Aluminum, Carbon Fiber, and Steel), By End Use (Aftermarket and OEM), And By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032.” According to the report, the valuation of the global high performance wheels market surpassed USD 33.27 Billion in 2023. The market is forecast to reach USD 84.34 Billion by 2032, growing at a compound annual growth rate (CAGR) of 10.89% during the forecast period 2024-2032.

Browse the full “Global High Performance Wheels Market – By Vehicle (Entry-Level Luxury Segment, Mid-Size Luxury Segment, Premium Compact Segment, And Others), By Material (Magnesium, Aluminum, Carbon Fiber, and Steel), By End Use (Aftermarket and OEM), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2024–2032.” Report at https://www.zionmarketresearch.com/report/high-performance-wheels-market

High performance wheels are incredibly light in weight, owing to which they offer strong braking and extensive acceleration to the vehicles. These wheels are widely installed in the premium vehicle class to enhance both the aesthetic appearance and performance of the vehicles. The rims of the high performance wheels are mainly manufactured from different elements comprising magnesium, aluminum, carbon fiber, or steel, based on the applications. However, high performance wheels-manufacturing procedures are quite complicated compared to the construction of other wheels, as the production methods of former ones involve expertise team and advanced technologies such as forging and casting. This is one of the major factors hindering the global high performance wheels market.

Demand for carbon fiber wheels is going to escalate remarkably during the forecast period

Aluminum wheels held the major share of the global high performance wheels market in 2019. While carbon fiber wheels category is perceiving a robust expansion owing to the ease of accessibility of raw material, lightweight, extreme firmness, high fabrication, and exclusive design.

Asia Pacific high performance wheels market is witnessing a considerable growth throughout the study timeframe

The extensive emergence of the automotive vehicles market and the upcoming launches of new electric & hybrid vehicles, particularly in Asian countries (China, India, and South Korea) is attributed to the significant expansion of the Asia Pacific high performance wheels market. Moreover, the low production cost owing to the reasonable labor charges in the Asian countries and the significantly rising per capita disposable incomes of Asian residents are fueling the demand for regional high performance wheels market.

Some of the key players driving the global high performance wheels market are Ronal AG, Weds Co. Ltd., Nutek Forged Wheels, Wheel Pros., Fikse Wheels, Alcoa Wheels, OZ S.p.A., ALCAR Holding, Vossen Wheels, Enkei Wheels, RAYS Co. Ltd., Topy Industries Limited, Carbon Revolution, CiTiC Dicastal Wheel Manufacturing Co. Ltd., Euromax Wheels, American Eagle Wheels Corporation, HRE Performance Wheels, SuperAlloy Industrial Company Ltd., Accuride Corporation, Iochpe-Maxion, United Wheels Group, Steel Strips Wheels Limited, Automotive Wheels Ltd., Mandrus Wheel Company, BBS Kraftfahrzeugtechnik AG, Work Wheels USA, Performance Wheels Australia, and Konig Wheels.

The global high performance wheels market is segmented as:

Global High performance wheels Market: By Vehicle Segmentation Analysis

• Entry-level luxury segment
• Mid-size luxury segment
• Premium compact segment
• Others

Global High performance wheels Market: By Material Segmentation Analysis

• Magnesium
• Aluminum
• Carbon Fiber
• Steel

Global High performance wheels Market: By End-Use Segmentation Analysis

• Aftermarket
• OEM

Global High performance wheels Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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