The market of carbon wheels will reach 1,112,800 thousand US dollars by 2030:
SELBYVILLE, Delaware, Aug. 15, 2022 (GLOBE NEWSWIRE) —
It is expected that by 2030, the volume of the global market for carbon wheels will be 1,112,800 thousand US dollars. according to the latest study by Global Market Insights Inc. A positive view of electric vehicles will drive industry trends.
Rising consumption of luxury bikes and cars in developed countries due to sharp rise in disposable income will increase the demand for carbon wheels. A major deterrent could be the high level of scrap, the report said. The optimization of steel scrap is very important, considering their contribution to the improvement of the environment. However, forward-looking product development by major players can help deal with the limitation. Increased initiatives from key companies and government agencies can also help ultimately reduce product costs.
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On the basis of vehicle, the report segments the carbon wheels market into commercial vehicles, premium/luxury vehicles, two-wheelers and passenger vehicles. The two-wheeler segment is projected to grow by 38% by 2030 due to several two-wheeler manufacturers focusing on the use of lightweight composites to reduce fuel consumption and vibration in vehicles.
By 2030, the carbon disc market is expected to reach $405,000,000. This growth is attributed to the expansion of global e-commerce websites that allow promotional offers and reduced wheel costs. Driven by changing consumer interest in online shopping, along with companies using new ways to expand their customer base, this will aid product penetration, thereby increasing segment growth.
The Latin American carbon wheels market according to forecasts, by 2030 the income will exceed 41,500 thousand US dollars. An increased presence of automotive manufacturers could be a key driver of regional business growth. In addition, the rapidly increasing number of initiatives undertaken by governments to control the global warming situation will accelerate the prospects of the industry across the region.
The carbon wheels market in the Middle East and Africa is estimated to reach a CAGR of over 32% by 2030. Low fuel costs and favorable tax regimes will help MEA become a vital source of revenue. Availability of attractive insurance and financing options makes it easier for consumers to purchase luxury cars in the region, which contributes to the industry scenario.
Key industry participants are Thyssenkrupp AG, Geric BV, Carbon Revolution Limited, ESE Carbon Company, Ronal Group, Blackstone Tek, Rotobox DOO, Phoenix Wheel Company, Inc. and Dymag Group ltd. These leaders mainly focus on developing new products and reducing the cost of products to strengthen their position in the market.
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Table of Contents (ToC) of the report
Chapter 3 Carbon Wheels Market Overview
3.1 Segmentation of the industry
3.2 Industry Size and Forecast 2018 – 2030
3.3 Analysis of the industry ecosystem
3.3.1 Suppliers of raw materials
3.3.2 Manufacturers
3.3.3 Distribution chain analysis
3.3.4 End Users
3.3.5 Analysis of the rate of return
3.3.6 Disruption in the value chain due to COVID-19
3.3.7 Supplier matrix
3.4 Technological landscape
3.5 Regulatory landscape
3.6 Industry best practices and key purchasing criteria
3.7 Impact of COVID-19 on the automotive industry
3.8 Demand Scenario for Car Wheels
3.9 Regional Pricing
3.10 Industry Impact Forces
3.10.1 Growth Drivers
3.10.1.1 Growth in the use of premium cars
3.10.1.2 Growth of initiatives of industry players to reduce the cost of products
3.10.1.3 Increasing the driving range for electronic vehicles
3.10.2 Industry pitfalls and challenges
3.10.2.1 High cost of products
3.10.2.2 High level of scrap
3.11 Innovation and sustainable development
3.12 Analysis of growth potential, 2021
3.13 Porter’s analysis
3.14 Competitive Landscape
3.15 PESTEL analysis
View Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/carbon-wheels-market
About Global Market Insights Inc.
Global Market Insights Inc. headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and special research reports along with development advisory services. Our business intelligence and industry research reports offer clients in-depth insights and actionable market data, specially designed and presented to assist in strategic decision-making. These comprehensive reports are developed using a proprietary research methodology and are available for key industries such as the chemical industry, advanced materials, technology, renewable energy and biotechnology.
