Ocean View, DE -- (SBWire) -- 06/22/2020 --Global high performance wheels market forecast will be majorly driven by robust demand for premium vehicles around the world. Aesthetics and performance are the two most crucial factors defining automotive wheels. Manufacturers are introducing newer, more efficient range of products with superior designs, innovative new looks and best-in-class quality.

For instance, Wheel Pros LLC had launched the upgraded version of the KMC Wheels Rockstar, called the Rockstar III which enables customers to customize their wheels based on their needs and preferences using off-shelf accessories.

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Wheels are not profitable until they attain over 65% capacity utilization. High performance wheel production is not labor-exhaustive and raw materials and energy costs form a significant part of the total cost. As wheels are light weighted, transport costs become an important factor, making it uneconomic to be transported over long distances. In automotive wheel production, the investment cost is not as high but still significant. Weight reduction concern and developing aesthetic looks are also the factors favoring product high performance wheels market growth.

High demand for premium compact vehicles, sports and luxury vehicles from emerging markets likely to increase product's market penetration. High performance wheels' consumption per vehicle has increased due to changing consumer preferences in style trends. Insurance claim offered after the damage is the reason for the consumption of aftermarket replacement segment. Insurance claims cannot be made on the original equipment; therefore, there is a tendency of consumer preference shift towards aftermarket. High usage of premium vehicles and development of some regions including GCC countries and Turkey due to rise in disposable income likely to have very positive impact over the high performance wheels market. Additionally, easy access to finances and cheap natural gas coupled with abundant availability of raw materials, such as aluminum and magnesium, are expected to uplift the production of high-performance wheels.

Aesthetics and performance are very important for wheels. New designs, looks and quality improvement are some of the factor's players are trying to enhance. For instance, in Nov 2016, Wheel Pros LLC and KMC Wheels launch Rockstar which allows customers to customize their wheels with off shelf accessories.

Some major findings of the high performance wheels market report include:

The rise demand of premium vehicles can be witnessed around the globe, especially in the emerging economies people are preferring premium vehicles than entry level vehicles. For example, in India, in 2018, premium compact segment sold around 408,000 unit, more than entry level cars.

In 2016, U.S. Energy Department announced USD 137 million investment in commercial and passenger vehicles. Such initiatives likely to open new avenues for the new product development.

Middle east and Africa are witnessing degrowth in economy however, government initiatives to boost private sector shall stabilize the economy. Region is very important market for high performance wheels.

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Recovering European auto sector shall drive the product demand over the forecast timeframe.

Key players involved in the industry are Iochpe-Maxion, Konig Wheels, OZ S.p.A, Carbon Revolution, Alcoa Wheels, HRE Performance Wheels, Konig Wheels, BBS ALCAR Holding, Euromax Wheels, etc. Increasing production capacity and new product launches are major strategies adopted by manufacturers.

Table of Contents (ToC) of the report:

Chapter 4 High Performance Wheels Market, By Material
4.1 Global high performance wheels volume share by material, 2018 & 2026
4.2 Aluminum
4.2.1 Global aluminum high performance wheels industry estimates & forecast, 2016 - 2026
4.2.2 Global aluminum high performance wheels industry estimates & forecast by region, 2016 - 2026
4.3 Steel
4.3.1 Global steel high performance wheels industry estimates & forecast, 2016 - 2026
4.3.2 Global steel high performance wheels industry estimates & forecast by region, 2016 - 2026
4.4 Magnesium
4.4.1 Global magnesium high performance wheels industry estimates & forecast, 2016 - 2026
4.4.2 Global magnesium high performance wheels industry estimates & forecast by region, 2016 - 2026
4.5 Carbon fibre
4.5.1 Global carbon fibre high performance wheels industry estimates & forecast, 2016 - 2026
4.5.2 Global carbon fibre high performance wheels market estimates & forecast by region, 2016 - 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/high-performance-wheels-market

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