Magnesium Wheel Market is expected to grow at a CAGR of 3% throughout the forecast period, to reach US$ 32.63 Bn. by 2030. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.To know about the Research Methodology :- Request Free Sample Report Shifting trend towards lightweight vehicles along with increased road safety concerns will propel the magnesium wheel market size. Inclination towards enhanced driving experience accompanied by increasing replacement of traditional steel by efficient & durable magnesium material will drive the product demand. Growing automotive industry due to rising vehicle demand along with increasing consumer spending will support the industry growth of magnesium wheel market. For example, in 2017 U.S. passenger car sales reached 6 million, while only 4 million cars were manufactured in the country. Changing automotive trends including vehicle customization, improved fuel efficiency, and reduced weight are the key factors positively influencing the product penetration. Increasing preference for green mobility coupled with stringent regulations promoting lightweight automotive components has been a key driver for the magnesium wheel market globally. According to the California Vehicle Code (CVC), gross weight on any wheel should not surpass 10,500 pounds. For every 100 pounds of vehicle weight reduction, there is an average decrease of about 2% fuel consumption. Rising demand for hybrid and electric vehicles will drive the industry growth, as weight reduction remains a major concern in the hybrid automobiles Magnesium wheel market is majorly segmented by the manufacturing, end-use, vehicle, and region. Based on the manufacturing segment, cast manufacturing is expected to dominate the global magnesium wheel market in 2017. Low production cost and easier manufacturing process are the factors leading to high industry demand of magnesium wheel. However, comparatively heavier weight along with manufacturing defects including pores, cavities and metallurgical microstructure causing large grain size may restrain the segment growth. Magnesium wheel can be also segmented based on end-use, where the OEM segment held the highest market share. Shifting manufacturer preference towards vehicle weight reduction is the key driving factor for magnesium wheel market growth. Product innovations and development coupled with heavy R&D investment by OEMs will further propel market demand. Europe held the highest market in 2017. Recovery of automobile sector along with the increasing penetration of premium cars particularly in the UK, Germany, Italy, Spain, and Poland will form key factors driving the regional demand. Presence of premium automotive manufacturers including Lamborghini, Ferrari, Audi, BMW, and Porsche also provides a positive outlook for market growth in Europe. Key player across the magnesium wheel industry are BBS, Enkei, MKW Alloy, SMW Engineering, and O.Z. Group. Industry players mainly focus on collaborations with high-end premium car manufacturers to increase customer base and strengthen foothold. For instance, O.Z. Group partnered with leading OEMs including Ferrari, Volkswagen, Mercedes Benz, etc. In August 2017, the company renewed its partnership with Ferrari till 2022. Product positioning for sport and premium car manufacturers is another key strategy observed among the manufacturers. For instance, BBS has focused its supply for sports cars used in Formula One. Similarly, Enkei Corporation developed products suitable for sportscars adopting the stringent JGTC regulations. Moreover, technological advancement and heavy R&D investment are among other strategies adopted. For instance, in 2016, SMW Engineering launched research & development projects to perform in-depth analysis of environmental & economic benefits of magnesium wheel.
The Scope of the Global Magnesium Wheel Market: Inquire before Buying
Global Magnesium Wheel Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 26.53 Bn. Forecast Period 2024 to 2030 CAGR: 3% Market Size in 2030: US $ 32.63 Bn. Segments Covered: by Manufacturing Cast Forged by Vehicle Bikes Premium/ Sports Cars by End-Use OEM Aftermarket Magnesium Wheel Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Magnesium Wheel Market Key Players are:
BBS Enkei MKW Alloy SMW Engineering O.Z. Group Ferrari Volkswagen Mercedes Benz Dymag Group Limited Tecnología y Fabricación, S.A. Marvic Wheels BBI Autosport Marchesini Vision Ability Dedication App Tech Tan-ei-sya Milinite Washi Beam Ronal Group Cromodora Wheels SPA PVM Brakes & Wheels Mannheim Frequently Asked Questions: 1. Which region has the largest share in Global Magnesium Wheel Market ? Ans: Asia Pacific region held the highest share in 2023. 2. What is the growth rate of Global Magnesium Wheel Market ? Ans: The Global Magnesium Wheel Market is growing at a CAGR of 3% during forecasting period 2024-2030. 3. What is scope of the Global Magnesium Wheel Market report? Ans: Global Magnesium Wheel Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Magnesium Wheel Market ? Ans: The important key players in the Global Magnesium Wheel Market are – BBS,Enkei,MKW Alloy,SMW Engineering,O.Z. Group,Ferrari,Volkswagen,Mercedes Benz,Dymag Group Limited,Tecnología y Fabricación, S.A.,Marvic Wheels. 5. What is the study period of this Market? Ans: The Global Magnesium Wheel Market is studied from 2023 to 2030.
Magnesium Wheel Market
1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Magnesium Wheel Market Size, by Market Value (US$ Bn) and Market Volume (Units) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Industry Trends and Emerging Technologies 5. Supply Side and Demand Side Indicators 6. Global Magnesium Wheel Market Analysis and Forecast 6.1. Global Magnesium Wheel Market Size & Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Global Magnesium Wheel Market Analysis and Forecast, by Manufacturing 7.1. Introduction and Definition 7.2. Key Findings 7.3. Global Magnesium Wheel Market Value Share Analysis, by Manufacturing 7.4. Global Magnesium Wheel Market Size (US$ Bn) Forecast, by Manufacturing 7.5. Global Magnesium Wheel Market Analysis, by Manufacturing 7.6. Global Magnesium Wheel Market Attractiveness Analysis, by Manufacturing 8. Global Magnesium Wheel Market Analysis and Forecast, by End-Use 8.1. Introduction and Definition 8.2. Key Findings 8.3. Global Magnesium Wheel Market Value Share Analysis, by End-Use 8.4. Global Magnesium Wheel Market Size (US$ Bn) Forecast, by End-Use 8.5. Global Magnesium Wheel Market Analysis, by End-Use 8.6. Global Magnesium Wheel Market Attractiveness Analysis, by End-Use 9. Global Magnesium Wheel Market Analysis and Forecast, by Vehicle 9.1. Introduction and Definition 9.2. Key Findings 9.3. Global Magnesium Wheel Market Value Share Analysis, by Vehicle 9.4. Global Magnesium Wheel Market Size (US$ Bn) Forecast, by Vehicle 9.5. Global Magnesium Wheel Market Analysis, by Vehicle 9.6. Global Magnesium Wheel Market Attractiveness Analysis, by Vehicle 10. Global Magnesium Wheel Market Analysis, by Region 10.1. Global Magnesium Wheel Market Value Share Analysis, by Region 10.2. Global Magnesium Wheel Market Size (US$ Bn) Forecast, by Region 10.3. Global Magnesium Wheel Market Attractiveness Analysis, by Region 11. North America Magnesium Wheel Market Analysis 11.1. Key Findings 11.2. North America Magnesium Wheel Market Overview 11.3. North America Magnesium Wheel Market Value Share Analysis, by Manufacturing 11.4. North America Magnesium Wheel Market Forecast, by Manufacturing 11.4.1. Cast 11.4.2. Forged 11.5. North America Magnesium Wheel Market Value Share Analysis, by End-Use 11.6. North America Magnesium Wheel Market Forecast, by End-Use 11.6.1. OEM 11.6.2. Aftermarket 11.7. North America Magnesium Wheel Market Value Share Analysis, by Vehicle 11.8. North America Magnesium Wheel Market Forecast, by Vehicle 11.8.1. Bikes 11.8.2. Premium/ Sports Cars 11.9. North America Magnesium Wheel Market Value Share Analysis, by Country 11.10. North America Magnesium Wheel Market Forecast, by Country 11.10.1. U.S. 11.10.2. Canada 11.11. North America Magnesium Wheel Market Analysis, by Country 11.12. U.S. Magnesium Wheel Market Forecast, by Manufacturing 11.12.1. Cast 11.12.2. Forged 11.13. U.S. Magnesium Wheel Market Forecast, by End-Use 11.13.1. OEM 11.13.2. Aftermarket 11.14. U.S. Magnesium Wheel Market Forecast, by Vehicle 11.14.1. Bikes 11.14.2. Premium/ Sports Cars 11.15. Canada Magnesium Wheel Market Forecast, by Manufacturing 11.15.1. Cast 11.15.2. Forged 11.16. Steel Canada Magnesium Wheel Market Forecast, by End-Use 11.16.1. OEM 11.16.2. Aftermarket 11.17. Canada Magnesium Wheel Market Forecast, by Vehicle 11.17.1. Bikes 11.17.2. Premium/ Sports Cars 11.18. North America Magnesium Wheel Market Attractiveness Analysis 11.18.1. By Manufacturing 11.18.2. By End-Use 11.18.3. By Vehicle 11.19. PEST Analysis 11.20. Key Trends 11.21. Key Developments 12. Europe Magnesium Wheel Market Analysis 12.1. Key Findings 12.2. Europe Magnesium Wheel Market Overview 12.3. Europe Magnesium Wheel Market Value Share Analysis, by Manufacturing 12.4. Europe Magnesium Wheel Market Forecast, by Manufacturing 12.4.1. Cast 12.4.2. Forged 12.5. Europe Magnesium Wheel Market Value Share Analysis, by End-Use 12.6. Europe Magnesium Wheel Market Forecast, by End-Use 12.6.1. OEM 12.6.2. Aftermarket 12.7. Europe Magnesium Wheel Market Value Share Analysis, by Vehicle 12.8. Europe Magnesium Wheel Market Forecast, by Vehicle 12.8.1. Bikes 12.8.2. Premium/ Sports Cars 12.9. Europe Magnesium Wheel Market Value Share Analysis, by Country 12.10. Europe Magnesium Wheel Market Forecast, by Country 12.10.1. Germany 12.10.2. U.K. 12.10.3. France 12.10.4. Italy 12.10.5. Spain 12.10.6. Rest of Europe 12.11. Europe Magnesium Wheel Market Analysis, by Country 12.12. Germany Magnesium Wheel Market Forecast, by Manufacturing 12.12.1. Cast 12.12.2. Forged 12.13. Germany Magnesium Wheel Market Forecast, by End-Use 12.13.1. OEM 12.13.2. Aftermarket 12.14. Germany Magnesium Wheel Market Forecast, by Vehicle 12.14.1. Bikes 12.14.2. Premium/ Sports Cars 12.15. U.K. Magnesium Wheel Market Forecast, by Manufacturing 12.15.1. Cast 12.15.2. Forged 12.16. U.K. Magnesium Wheel Market Forecast, by End-Use 12.16.1. OEM 12.16.2. Aftermarket 12.17. U.K. Magnesium Wheel Market Forecast, by Vehicle 12.17.1. Bikes 12.17.2. Premium/ Sports Cars 12.18. France Magnesium Wheel Market Forecast, by Manufacturing 12.18.1. Cast 12.18.2. Forged 12.19. France Magnesium Wheel Market Forecast, by End-Use 12.19.1. OEM 12.19.2. Aftermarket 12.20. France Magnesium Wheel Market Forecast, by Vehicle 12.20.1. Bikes 12.20.2. Premium/ Sports Cars 12.21. Italy Magnesium Wheel Market Forecast, by Manufacturing 12.21.1. Cast 12.21.2. Forged 12.22. Italy Magnesium Wheel Market Forecast, by End-Use 12.22.1. OEM 12.22.2. Aftermarket 12.23. Italy Magnesium Wheel Market Forecast, by Vehicle 12.23.1. Bikes 12.23.2. Premium/ Sports Cars 12.24. Spain Magnesium Wheel Market Forecast, by Manufacturing 12.24.1. Cast 12.24.2. Forged 12.25. Spain Magnesium Wheel Market Forecast, by End-Use 12.25.1. OEM 12.25.2. Aftermarket 12.26. Spain Magnesium Wheel Market Forecast, by Vehicle 12.26.1. Bikes 12.26.2. Premium/ Sports Cars 12.27. Rest of Europe Magnesium Wheel Market Forecast, by Manufacturing 12.27.1. Cast 12.27.2. Forged 12.28. Rest of Europe Magnesium Wheel Market Forecast, by End-Use 12.28.1. OEM 12.28.2. Aftermarket 12.29. Rest of Europe Magnesium Wheel Market Forecast, by Vehicle 12.29.1. Bikes 12.29.2. Premium/ Sports Cars 12.30. Europe Magnesium Wheel Market Attractiveness Analysis 12.30.1. By Manufacturing 12.30.2. By End-Use 12.30.3. By Vehicle 12.31. PEST Analysis 12.32. Key Trends 12.33. Key Developments 13. Asia Pacific Magnesium Wheel Market Analysis 13.1. Key Findings 13.2. Asia Pacific Magnesium Wheel Market Overview 13.3. Asia Pacific Magnesium Wheel Market Value Share Analysis, by Manufacturing 13.4. Asia Pacific Magnesium Wheel Market Forecast, by Manufacturing 13.4.1. Cast 13.4.2. Forged 13.5. Asia Pacific Magnesium Wheel Market Value Share Analysis, by End-Use 13.6. Asia Pacific Magnesium Wheel Market Forecast, by End-Use 13.6.1. OEM 13.6.2. Aftermarket 13.7. Asia Pacific Magnesium Wheel Market Value Share Analysis, by Vehicle 13.8. Asia Pacific Magnesium Wheel Market Forecast, by Vehicle 13.8.1. Bikes 13.8.2. Premium/ Sports Cars 13.9. Asia Pacific Magnesium Wheel Market Value Share Analysis, by Country 13.10. Asia Pacific Magnesium Wheel Market Forecast, by Country 13.10.1. China 13.10.2. India 13.10.3. Japan 13.10.4. ASEAN 13.10.5. Rest of Asia Pacific 13.11. Asia Pacific Magnesium Wheel Market Analysis, by Country 13.12. China Magnesium Wheel Market Forecast, by Manufacturing 13.12.1. Cast 13.12.2. Forged 13.13. China Magnesium Wheel Market Forecast, by End-Use 13.13.1. OEM 13.13.2. Aftermarket 13.14. China Magnesium Wheel Market Forecast, by Vehicle 13.14.1. Bikes 13.14.2. Premium/ Sports Cars 13.15. India Magnesium Wheel Market Forecast, by Manufacturing 13.15.1. Cast 13.15.2. Forged 13.16. India Magnesium Wheel Market Forecast, by End-Use 13.16.1. OEM 13.16.2. Aftermarket 13.17. India Magnesium Wheel Market Forecast, by Vehicle 13.17.1. Bikes 13.17.2. Premium/ Sports Cars 13.18. Japan Magnesium Wheel Market Forecast, by Manufacturing 13.18.1. Cast 13.18.2. Forged 13.19. Japan Magnesium Wheel Market Forecast, by End-Use 13.19.1. OEM 13.19.2. Aftermarket 13.20. Japan Magnesium Wheel Market Forecast, by Vehicle 13.20.1. Bikes 13.20.2. Premium/ Sports Cars 13.21. ASEAN Magnesium Wheel Market Forecast, by Manufacturing 13.21.1. Cast 13.21.2. Forged 13.22. ASEAN Magnesium Wheel Market Forecast, by End-Use 13.22.1. OEM 13.22.2. Aftermarket 13.23. ASEAN Magnesium Wheel Market Forecast, by Vehicle 13.23.1. Bikes 13.23.2. Premium/ Sports Cars 13.24. Rest of Asia Pacific Magnesium Wheel Market Forecast, by Manufacturing 13.24.1. Cast 13.24.2. Forged 13.25. Rest of Asia Pacific Magnesium Wheel Market Forecast, by End-Use 13.25.1. OEM 13.25.2. Aftermarket 13.26. Rest of Asia Pacific Magnesium Wheel Market Forecast, by Vehicle 13.26.1. Bikes 13.26.2. Premium/ Sports Cars 13.27. Asia Pacific Magnesium Wheel Market Attractiveness Analysis 13.27.1. By Manufacturing 13.27.2. By End-Use 13.27.3. By Vehicle 13.28. PEST Analysis 13.29. Key Trends 13.30. Key Developments 14. Middle East & Africa Magnesium Wheel Market Analysis 14.1. Key Findings 14.2. Middle East & Africa Magnesium Wheel Market Overview 14.3. Middle East & Africa Magnesium Wheel Market Value Share Analysis, by Manufacturing 14.4. Middle East & Africa Magnesium Wheel Market Forecast, by Manufacturing 14.4.1. Cast 14.4.2. Forged 14.5. Middle East & Africa Magnesium Wheel Market Value Share Analysis, by End-Use 14.6. Middle East & Africa Magnesium Wheel Market Forecast, by End-Use 14.6.1. OEM 14.6.2. Aftermarket 14.7. Middle East & Africa Magnesium Wheel Market Value Share Analysis, by Vehicle 14.8. Middle East & Africa Magnesium Wheel Market Forecast, by Vehicle 14.8.1. Bikes 14.8.2. Premium/ Sports Cars 14.9. Middle East & Africa Magnesium Wheel Market Value Share Analysis, by Country 14.10. Middle East & Africa Magnesium Wheel Market Forecast, by Country 14.10.1. GCC 14.10.2. South Africa 14.10.3. Rest of Middle East & Africa 14.11. Middle East & Africa Magnesium Wheel Market Analysis, by Country 14.12. GCC Magnesium Wheel Market Forecast, by Manufacturing 14.12.1. Cast 14.12.2. Forged 14.13. GCC Magnesium Wheel Market Forecast, by End-Use 14.13.1. OEM 14.13.2. Aftermarket 14.14. GCC Magnesium Wheel Market Forecast, by Vehicle 14.14.1. Bikes 14.14.2. Premium/ Sports Cars 14.15. South Africa Magnesium Wheel Market Forecast, by Manufacturing 14.15.1. Cast 14.15.2. Forged 14.16. South Africa Magnesium Wheel Market Forecast, by End-Use 14.16.1. OEM 14.16.2. Aftermarket 14.17. South Africa Magnesium Wheel Market Forecast, by Vehicle 14.17.1. Bikes 14.17.2. Premium/ Sports Cars 14.18. Rest of Middle East & Africa Magnesium Wheel Market Forecast, by Manufacturing 14.18.1. Cast 14.18.2. Forged 14.19. Rest of Middle East & Africa Magnesium Wheel Market Forecast, by End-Use 14.19.1. OEM 14.19.2. Aftermarket 14.20. Rest of Middle East & Africa Magnesium Wheel Market Forecast, by Vehicle 14.20.1. Bikes 14.20.2. Premium/ Sports Cars 14.21. Middle East & Africa Magnesium Wheel Market Attractiveness Analysis 14.21.1. By Manufacturing 14.21.2. By End-Use 14.21.3. By Vehicle 14.22. PEST Analysis 14.23. Key Trends 14.24. Key Developments 15. South America Magnesium Wheel Market Analysis 15.1. Key Findings 15.2. South America Magnesium Wheel Market Overview 15.3. South America Magnesium Wheel Market Value Share Analysis, by Manufacturing 15.4. South America Magnesium Wheel Market Forecast, by Manufacturing 15.4.1. Cast 15.4.2. Forged 15.5. South America Magnesium Wheel Market Value Share Analysis, by End-Use 15.6. South America Magnesium Wheel Market Forecast, by End-Use 15.6.1. OEM 15.6.2. Aftermarket 15.7. South America Magnesium Wheel Market Value Share Analysis, by Vehicle 15.8. South America Magnesium Wheel Market Forecast, by Vehicle 15.8.1. Bikes 15.8.2. Premium/ Sports Cars 15.9. South America Magnesium Wheel Market Value Share Analysis, by Country 15.10. South America Magnesium Wheel Market Forecast, by Country 15.10.1. Brazil 15.10.2. Mexico 15.10.3. Rest of South America 15.11. South America Magnesium Wheel Market Analysis, by Country 15.12. Brazil Magnesium Wheel Market Forecast, by Manufacturing 15.12.1. Cast 15.12.2. Forged 15.13. Brazil Magnesium Wheel Market Forecast, by End-Use 15.13.1. OEM 15.13.2. Aftermarket 15.14. Brazil Magnesium Wheel Market Forecast, by Vehicle 15.14.1. Bikes 15.14.2. Premium/ Sports Cars 15.15. Mexico Magnesium Wheel Market Forecast, by Manufacturing 15.15.1. Cast 15.15.2. Forged 15.16. Mexico Magnesium Wheel Market Forecast, by End-Use 15.16.1. OEM 15.16.2. Aftermarket 15.17. Mexico Magnesium Wheel Market Forecast, by Vehicle 15.17.1. Bikes 15.17.2. Premium/ Sports Cars 15.18. Rest of South America Magnesium Wheel Market Forecast, by Manufacturing 15.18.1. Cast 15.18.2. Forged 15.19. Rest of South America Magnesium Wheel Market Forecast, by End-Use 15.19.1. OEM 15.19.2. Aftermarket 15.20. Rest of South America Magnesium Wheel Market Forecast, by Vehicle 15.20.1. Bikes 15.20.2. Premium/ Sports Cars 15.21. South America Magnesium Wheel Market Attractiveness Analysis 15.21.1. By Manufacturing 15.21.2. By End-Use 15.21.3. By Vehicle 15.22. PEST Analysis 15.23. Key Trends 15.24. Key Developments 16. Company Profiles 16.1. Market Share Analysis, by Company 16.2. Competition Matrix 16.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 16.2.2. New Product Launches and Product Enhancements 16.2.3. Market Consolidation 16.2.3.1. M&A by Regions, Investment and Applications 16.2.3.2. M&A Key Players, Forward Integration and Backward Integration 16.3. Company Profiles: Key Players 16.3.1. Scania 16.3.1.1. Company Overview 16.3.1.2. Financial Overview 16.3.1.3. Product Portfolio 16.3.1.4. Business Strategy 16.3.1.5. Recent Developments 16.3.1.6. Manufacturing Footprint 16.3.2. BBS 16.3.3. Enkei 16.3.4. MKW Alloy 16.3.5. SMW Engineering 16.3.6. O.Z. Group 16.3.7. Ferrari 16.3.8. Volkswagen 16.3.9. Mercedes Benz 16.3.10. Dymag Group Limited 16.3.11. Tecnología y Fabricación, S.A. 16.3.12. Marvic Wheels 16.3.13. BBI Autosport 16.3.14. Marchesini 16.3.15. Vision Ability Dedication 16.3.16. App Tech 16.3.17. Tan-ei-sya 16.3.18. Milinite 16.3.19. Washi Beam 16.3.20. Ronal Group 16.3.21. Cromodora Wheels SPA 16.3.22. PVM Brakes & Wheels Mannheim 17. Primary Key Insights