Global Carbon Wheels Market To Record Protruding Growth With US$ 1,300.1 Million By 2030
Published date - 16/05/2023
May 2023 | Report Format: Electronic (PDF)
The main factors anticipated to increase demand for automotive carbon wheels and increase the market size for these wheels are the desire to reduce vehicle weight and enhance fuel efficiency. The decrease of vehicle weight, which increases performance and efficiency, is a major concern for the automobile industry. Improved mobility, a quieter and smoother ride, quicker acceleration and deceleration, better suspension, and ongoing fuel efficiency improvements are all benefits of lighter wheels. The market for carbon wheels for automobiles is driven by all of these considerations.
Due to the rising disparity between buyers in the U.S., Europe, and China, where they seek powertrain, which is driving performance, interior design & functionality, exterior design, brand, and connectivity, the U.S. has noticed a consistent rise in the sale of premium executive automobiles. Additionally, government programmes to promote the use of electric vehicles in response to growing worries about climate change and global warming will help spur product uptake.
The market picture for carbon wheels will change as a result of growing environmental concerns. To preserve their market position, businesses have been expanding their product lines and making tactical acquisitions. Major brands would also gain from the surge in demand for luxury vehicles. The demand for carbon wheels will significantly increase as manufacturing companies establish new production facilities throughout the world.
It is anticipated that the market for carbon wheels in Europe would dominate over the projected period due to greater visibility of substantial innovation and product differentiation among carbon wheel producers in the area. The use of carbon fibre composite materials in vehicles by leading automakers in the Europe region, including Porsche, BMW, Ferrari, Mercedes-Benz, Audi, and Lamborghini, as well as a strong focus on materials engineering for the development of light automotive composite materials, such as carbon fibre automotive rims and wheels, are anticipated to support the growth of the carbon wheels market in the Europe region during the forecast period.
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Carbon Wheels Market Report Highlights
- In May 2022, Dymag Group Ltd. Announced a partnership with Hankuk Carbon Co., Ltd. to mass-produce carbon composite wheels for the automotive industry. This partnership is expected to rapidly scale up carbon composite wheel production, bringing higher volume and cost efficiencies and volumes
CARBON WHEELS MARKET SEGMENTATION
The research report published by Market Research Strategy contains industry segments, as below-
Carbon Wheels Market Vehicle Outlook (Revenue, USD Million, 2017 - 2030)
- Passenger Cars
- Commercial Vehicles
- Two-wheelers
Carbon Wheels Market Vehicle End User Outlook (Revenue, USD Million, 2017 - 2030)
- OEM
- Aftermarket
Carbon Wheels Market Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
List of Key Players- Carbon Wheels Market
- Carbon Revolution Limited
- Dymag Group Itd.
- Ronal Group
- Geric B.V
- ESE Carbon Company
- Rotobox D.0.0.
- Blackstone Tek
- Thyssenkrupp AG
- Phoenix Wheel Company, Inc.
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