The Business Research Company’s High Performance Wheels Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The High Performance Wheels Global Market Report 2023 evaluates high performance wheels market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global high-performance wheels market is expected to grow from $19.23 billion in 2022 to $20.59 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The high-performance wheels market is expected to reach $25.93 billion in 2027 at a CAGR of 5.9%.
The rising sale of luxury cars is significantly contributing to the growth of the high-performance wheel market going forward. Luxury cars provide increased performance, status, comfort, and quality compared to regular vehicles for an increased price. High-performance wheels are used in luxury vehicles to provide better grip and cornering ability and dissipate heat much faster than standard rubber. For instance, in January 2023 according to a report released by Rolls Royce, a UK-based luxury vehicle manufacturer, the sales of Rolls Royce luxury cars increased from 5,586 in 2021 to 6,021 in 2022. Therefore, the rising sale of luxury cars will drive the high-performance wheels market.
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The high performance wheels market segments in the report are:
1) By Product Type: Aluminum, Steel, Magnesium, Carbon Fiber
2) By Coating: Painted, Polished, Chromed, Machined
3) By Manufacturing Process: Gravity Casting, Low-Pressure Casting, High-Pressure Die Casting
4) By Sales Channel: OEM (Original Equipment Manufacturer), Aftermarket
5) By Application: Passenger Cars, Lightweight Commercial Vehicles, Heavy Trucks, Buses And Coaches, Trailers, Motorcycles, Motorsports
The table of contents in TBRC’s high performance wheels market report includes:
- Executive Summary
- High Performance Wheels Market Characteristics
- High Performance Wheels Market Trends And Strategies
- High Performance Wheels Market – Macro Economic Scenario
- High Performance Wheels Market Segmentation.
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- Global High Performance Wheels Market Competitive Benchmarking
- Global High Performance Wheels Market Competitive Dashboard
- Key Mergers And Acquisitions In The High Performance Wheels Market
- High Performance Wheels Market Future Outlook and Potential Analysis
- Appendix
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