Alloy Wheels Aftermarket to grow by Over $ 100 Million during 2021-2025 | Insights on COVID-19 Impact Analysis, Key Drivers, Trends, and Products Offered by Major Vendors | Technavio

NEW YORK, March 18, 2021 /PRNewswire/ -- The global alloy wheels aftermarket is expected to grow by USD 100.99 million, exhibiting a CAGR of almost 1% during 2021-2025, according to Technavio's latest market report. Based on our research, the auto parts and equipment sector witnessed a negative impact due to the widespread growth of the COVID-19 pandemic. The report also throws light on the pre- and post-impact of COVID-19 on businesses.

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The passenger vehicles segment will generate maximum revenue in the alloy wheels aftermarket, owing to the growing demand for SUV alloy wheels across the world. In terms of geography, APAC will present significant opportunities for market vendors due to the increase in sales of automobiles.

Alloy Wheels Aftermarket: Major Growth Drivers

The following factors are expected to drive the growth of the market during the forecast period:

• Aging vehicle fleet
• Growing predisposition among millennials for styling of automotive exterior
• Increasing demand for alloy wheels in the luxury vehicle segment

In addition, the report identifies the rise in sales through online sales as a major trend in the alloy wheels aftermarket. The growth of the online e-commerce industry has significantly boosted the sales of automotive aftermarket components such as alloy wheels. Also, factors such as digitization of businesses, rising use of social media, and high penetration of smartphones and the internet are positively influencing the overall growth of the global alloy wheels aftermarket.

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Alloy Wheels Aftermarket: Key Vendor Offerings

ALCAR HOLDING GmbH: The company offers Aftermarket alloy wheels. The company offers alloy wheels through its brands such as AEZ, DOTZ, DEZENT, and DOTZ SURVIVAL, for the passenger vehicle aftermarket sector.

BORBET GmbH: The company offers products such as BY titan polished matt, BY titan polished matt, and other products.

Enkei Corp.: The company offers products such as GTC02, PF09 in the racing series category. It offers TS-7, TSR-6 in the Tuning series category and other products.

Howmet Aerospace Inc.: The company offers a wide range of lightweight aluminum wheels. The company also offers alloy wheels under the brand, Alcoa.

Iochpe-Maxion SA: The company offers steel wheels and aluminum light vehicle wheels.

Reasons to Buy Alloy wheels aftermarket Report:

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist alloy wheels aftermarket growth during the next five years
• Estimation of the alloy wheels aftermarket size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the alloy wheels aftermarket across APAC, Europe, North America, South America, and MEA
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of alloy wheels aftermarket vendors

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Related Reports on Consumer Discretionary Include:

Global Aluminum Alloy Wheel Market – Global aluminum alloy wheel market is segmented by application (passenger cars and commercial vehicles) and geography (APAC, Europe, North America, South America, and MEA).

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Global Automotive Steel Wheels Market – Global automotive steel wheels market is segmented by application (passenger cars, LCVs, and M and HCVs) and geography (APAC, Europe, MEA, North America, and South America).

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