Industry Background:
Magnesium alloy wheels are automobile wheels that are made from magnesium, the use of magnesium alloy is to improve the performance of the vehicle by increasing the mileage. These wheels offer better weight reduction and acceleration. Wheels made from magnesium alloy are 20% - 25% lighter than aluminium alloy. This offers several benefits than ordinary wheels such as strength, lightness, high damping capacity, heat thermal conductivity. Magnesium wheels have been frequently applied to racing cars as every reduced gram weight of the vehicle improves its lap times. Growing concern related to consumption of fuel and government regulations about it is booming the demand for magnesium alloy wheels. The tendency towards improved driving experience joined by expanding substitution of traditional steel & aluminium wheels by effective and strong magnesium material will drive the magnesium alloy wheels request in the market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Marvic Wheels (Italy), BBI Autosport (United States), Marchesini (United States), OZ Motorbike (ITALY), APP TECH (United States), SMW Engineering (United Kingdom), Panther Wheel (CANADA) and Rays Engineering (Japan) |
This growth is primarily driven by Increasing Popularity of Automotive Racing in Developing Economies and Optimization of Magnesium Alloy Wheel Dynamic Impact Performance.
Globally, a noticeable market trend is evident Lightweight Vehicles Along With Increased Road Safety Concern Is Growing the Demand of Magnesium Alloy Wheels Major Vendors, such as Marvic Wheels (Italy), BBI Autosport (United States), Marchesini (United States), OZ Motorbike (ITALY), APP TECH (United States), SMW Engineering (United Kingdom), Panther Wheel (CANADA) and Rays Engineering (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Influencing Trend:
Lightweight Vehicles Along With Increased Road Safety Concern Is Growing the Demand of Magnesium Alloy Wheels
Market Growth Drivers:
Increasing Popularity of Automotive Racing in Developing Economies and Optimization of Magnesium Alloy Wheel Dynamic Impact Performance
Challenges:
Use of Magnesium Alloy Wheels Is Flammable for Racing Car When Tire Gets Punctured and Wheel Scrapes On Rough Road Surface
Restraints:
Magnesium Alloy Wheels Are More Expensive To Manufacture, Purchase, and Repair
Opportunities:
Increasingly Stringent Regulatory Requirements for Energy Conservation and Emission Reduction
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Magnesium Alloy Wheels - Market
- Analysis about New Entrants in Magnesium Alloy Wheels - Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Magnesium Alloy Wheels - Study Sheds Light on
The Magnesium Alloy Wheels - Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Magnesium Alloy Wheels - industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Magnesium Alloy Wheels - industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.