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(Transportation-News.com, May 09, 2017 ) Steel wheels are widely used in LCVs and M&HCVs as these wheels are heavier and stronger than alloy wheels. However, steel wheels in passenger cars are being replaced by alloy wheels. Though OEMs are trying to equip their vehicles with alloy wheels in the passenger car segment, they prefer steel wheels for the LCVs and M&HCVs segments as these can bear heavy weight. Steel wheels can bear heavy loads, which is crucial for the LCV and M&HCV segments. Compared with alloy wheels, these wheels have better traction at low speeds and are highly preferred by consumers for off-road applications. Steel wheels are cheaper, durable, require low maintenance cost, and provide greater safety as they are heavy weight. During winters, these wheels can cut through snow and ice. Thus, steel wheels are preferred over alloy wheels in the LCV and M&HCV segments.
Technavios analysts forecast the global automotive steel wheels market to grow at a CAGR of 2.64% during the period 2017-2021.
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Report covers the present scenario and the growth prospects of the global automotive steel wheels market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Americas
APAC
Europe
Technavio's report, Global Automotive Steel Wheels Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
MAXION Wheels
Accuride Wheel End Solutions
Steel Strips Wheels
Other prominent vendors
ALCAR HOLDING
Bharat Wheel
KIC
Browse Full Report with TOC - http://www.marketresearchhub.com/report/global-automotive-steel-wheels-market-2017-2021-report.html
Market driver
Growth in promotion of budget cars by OEMs for emerging countries.
For a full, detailed list, view our report
Market challenge
Growing concern toward increased greenhouse gas emissions from automotive industry.
For a full, detailed list, view our report
Market trend
Advances in technology by OEMs for manufacturing steel wheels.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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