1 / 5

Magnesium Wheel Market

<br>Magnesium Wheel Market is estimated to reach US$ XX Bn by 2026 in terms of revenue at a CAGR of XX% in the forecast period

pallavivn
Download Presentation

Magnesium Wheel Market

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Magnesium Wheel Market is estimated to reach US$ XX Bn by 2026 in terms of revenue at a CAGR of XX% in the forecast period. Shifting trend towards lightweight vehicles along with increased road safety concerns will propel the magnesium wheel market size. Inclination towards enhanced driving experience accompanied by increasing replacement of traditional steel by efficient & durable magnesium material will drive the product demand. Growing automotive industry due to rising vehicle demand along with increasing consumer spending will support the industry growth of magnesium wheel market. For example, in 2016 U.S. passenger car sales reached 6 million, while only 4 million cars were manufactured in the country. Changing automotive trends including vehicle customization, improved fuel efficiency, and reduced weight are the key factors positively influencing the product penetration. Increasing preference for green mobility coupled with stringent regulations promoting lightweight automotive components has been a key driver for the magnesium wheel market globally. According to the California Vehicle Code (CVC), gross weight on any wheel should not surpass 10,500 pounds. For every 100 pounds of vehicle weight reduction, there is an average decrease of about 2% fuel consumption. Rising demand for hybrid and electric vehicles will drive the industry growth, as weight reduction remains a major concern in the hybrid automobiles. Magnesium Wheel Market

  2. Magnesium wheel market is majorly segmented by the manufacturing, end-use, vehicle, and region. Based on the manufacturing segment, cast manufacturing is expected to dominate the global magnesium wheel market in 2017. Low production cost and easier manufacturing process are the factors leading to high industry demand of magnesium wheel. However, comparatively heavier weight along with manufacturing defects including pores, cavities and metallurgical microstructure causing large grain size may restrain the segment growth. Magnesium wheel can be also segmented based on end-use, where the OEM segment held the highest market share. Shifting manufacturer preference towards vehicle weight reduction is the key driving factor for magnesium wheel market growth. Product innovations and development coupled with heavy R&D investment by OEMs will further propel market demand. Europe held the highest market in 2017. Recovery of automobile sector along with the increasing penetration of premium cars particularly in the UK, Germany, Italy, Spain, and Poland will form key factors driving the regional demand. Presence of premium automotive manufacturers including Lamborghini, Ferrari, Audi, BMW, and Porsche also provides a positive outlook for market growth in Europe. Key player across the magnesium wheel industry are BBS, Enkei, MKW Alloy, SMW Engineering, and O.Z. Group. Industry players mainly focus on collaborations with high-end premium car manufacturers to increase customer base and strengthen foothold. For instance, O.Z. Group partnered with leading OEMs including Ferrari, Volkswagen, Mercedes Benz, etc. In August 2016, the company renewed its partnership with Ferrari till 2019. Product positioning for sport and premium car manufacturers is another key strategy observed among the manufacturers. For instance, BBS has focused its supply for sports cars used in Formula One. Similarly, Enkei Corporation developed products suitable for sportscars adopting the stringent JGTC regulations. Moreover, technological advancement and heavy R&D investment are among other strategies adopted. For instance, in 2016, SMW Engineering launched research & development projects to perform in-depth analysis of environmental & economic benefits of magnesium wheel.

  3. For more information visit https://www.maximizemarketresearch.com/market-report/magnesium- wheel-market/12103/ The Scope of the Magnesium Wheel Market: Magnesium Wheel Market, By Manufacturing • Cast • Forged Magnesium Wheel Market, By End-Use • OEM • Aftermarket Magnesium Wheel Market, By Vehicle • Bikes • Premium/ Sports Cars Magnesium Wheel Market, By Geography • North America • Europe • Asia-Pacific • Middle East & Africa • Latin America

  4. Key Players operating in the Magnesium Wheel Market: • BBS • Enkei • MKW Alloy • SMW Engineering • O.Z. Group • Ferrari • Volkswagen • Mercedes Benz • Dymag Group Limited • Tecnología y Fabricación, S.A. • Marvic Wheels • BBI Autosport • Marchesini • Vision Ability Dedication • App Tech • Tan-ei-sya • Milinite • Washi Beam This Report Is Submitted By : Maximize Market Research Company Customization of the report:

  5. Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Name: Lumawant Godage Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD. Email: sales@maximizemarketresearch.com Address : Pune, Maharashtra 411051, India. Contact: +919607195908

More Related