Carbon Wheels Market Revenue to Hit USD 450M by 2026; Global Market Insights, Inc.
Europe carbon wheels market revenue is expected to witness a 30% CAGR from 2020 to 2026 owing to the presence of multiple premium and luxury vehicle manufacturers including, Daimler AG, Porsche AG, and Ferrari S.p.A.
SELBYVILLE, Del., July 8, 2020 (Newswire.com) - Global Market Insights, Inc. has recently added a new report on the carbon wheels market, which estimates the market valuation for carbon wheels will cross US $450 million by 2026. Increasing premium vehicle adoption will surge carbon wheels' demand over the forecast spell.
Rising Ultra-High & High-Net-Worth Individuals (HNWIs) and shifting inclination towards premium vehicles will primarily drive carbon wheels' market growth over the forecast period. Surging demand for premium vehicles is attributed to their sleek design, precision engineering, and luxurious interiors that impart superior performance. Carbon wheels reduce fuel consumption and improve the efficiency, performance, and aesthetics of the vehicle. However, high product costs associated with raw material and production will restrict the industry size.
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Passenger cars will witness around a 33% CAGR owing to its adoption to meet mobility requirements. Rising per capita income and improving public road transport infrastructures will provide growth opportunities over the study forecast. Additionally, growing importance among manufacturers to enhance their production capacities and incorporation of innovative technologies will further boost the segment penetration.
Two-wheeler will foresee steady growth during the forecast period. Carbon fiber wheels are majorly adopted in high-end two-wheelers to improve the overall ride quality and performance. These wheels do not corrode and have a long service life. In addition, they aid in enhancing the braking, handling and steering characteristics of the two-wheeler.
Carbon wheels for end-users are manufactured in conformance to OEM manufacturing capabilities and quality standards that maintain their brand value. The industry participants are undergoing strategic collaboration to develop products that meet OEM requirements. In October 2019, Carbon Revolution announced its collaboration with Henkel to develop OEM-approved, single-construction carbon fiber wheels.
Browse key industry insights spread across 190 pages with 212 market data tables & 30 figures & charts from the report, “Carbon Wheels Market Share & Forecast, 2020 – 2026” in detail, along with the table of contents:
Some major findings of carbon wheels market report include:
- Growing awareness regarding fuel-efficient vehicles globally will positively influence carbon wheels industry size.
- Introduction of several differentiating factors such as improved noise, reduced vibration and harshness.
- Product manufacturers are primarily focusing on technology advancement, geographic expansion, and acquisitions strategies to strengthen their market share.
Europe's carbon wheels market size will witness over a 30% CAGR from 2020 to 2026, owing to the presence of multiple premium and luxury vehicle manufacturers including, Daimler AG, Porsche AG, and Ferrari S.p.A. Further, stringent compliances by the European Union to curb CO2 emission will encourage automotive manufacturers to install lightweight carbon wheels in vehicles. Innovation and product differentiation are gaining higher visibility among carbon wheels manufacturers. For instance, in November 2018, Ronal Group inaugurated an innovation center under Ronal Technologies GmbH, that focuses on distinct projects for automotive applications.
Prominent industry participants include Carbon Revolution Limited, Ronal Group, ESE Carbon Company, Dymag Group ltd., Rotobox D.O.O., Geric B.V., Blackstone Tek, thyssenkrupp AG, and Phoenix Wheel Company, Inc.
Browse the report's complete table of contents at https://www.gminsights.com/toc/detail/carbon-wheels-market
Partial chapters of the report's table of contents (TOC):
Chapter 3 Global Carbon Wheels Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2026
3.2.1 Global carbon wheels industry size and forecast, 2016 – 2026
3.2.2 COVID-19 impact on the industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.3 Distribution chain analysis
184.108.40.206 Original Equipment Manufacturers (OEM)
3.3.5 Profit margin analysis
220.127.116.11 Raw material supplier
18.104.22.168 Product manufacturer
22.214.171.124 Supplier & distributor
3.3.6 Value chain disruptions due to COVID-19
3.3.7 Vendor matrix
126.96.36.199 List of key raw material suppliers
188.8.131.52 List of key manufacturers/distributors
184.108.40.206 List of key/potential end-users
3.4 Technology landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.6 Industry best practices & key buying criteria
3.6.1 Need recognition
3.6.2 Information search
3.6.3 Evaluation of alternatives
3.6.4 Purchase decision
3.6.5 Post-purchase behavior
3.7 COVID-19 impact on the automotive industry
3.8 Automotive wheel demand scenario
3.9 Regional pricing
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 Middle East & Africa
3.9.2 Cost structure analysis, 2019
188.8.131.52 Raw material cost
184.108.40.206 Labor cost
220.127.116.11 Other raw material cost
18.104.22.168 Energy & Utility cost
3.10 Industry impact forces
3.10.1 Growth drivers
22.214.171.124 Increasing sales of premium vehicles
126.96.36.199 Increasing range for e-vehicles
3.10.2 Industry pitfalls & challenges
188.8.131.52 High product cost
184.108.40.206 High scrap rate
3.11 Innovation & sustainability
3.12 Growth potential analysis, 2019
3.13 Porter’s analysis
3.13.1 Supplier power
3.13.2 Buyer power
3.13.3 Threat of new entrants
3.13.4 Threat of substitutes
3.14 Competitive landscape, 2019
3.14.1 Company market share analysis, 2019
3.14.2 Company performance analysis, 2019
3.14.3 Strategy dashboard
3.15 PESTEL analysis
Browse related report:
Automotive Wheel Market Size By Material (Aluminum, Steel, Magnesium, Carbon Fiber), By Product (Regular, High Performance), By End-use (OEM, Aftermarket), By Vehicle (Passenger Cars, Lightweight Commercial Vehicles, Heavy Trucks, Buses & Coaches, Trailers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
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