Automotive Metal Wheel Market: Additive Manufacturing to Yield High Cost Savings

From: FactMR
Published: Thu May 23 2019

A comprehensive study by Fact.MR on the global market for automotive metal wheels offers critical insights on the aforesaid market, assessed for a period of five years, 2017-2022. Fact.MR forecasts that the global automotive metal wheel market would record a sluggish CAGR through 2022, lying in the high value-low growth quadrant during the said timeline. The global automotive metal wheel market is anticipated to stand at a valuation of approximately US$ 92 Billion by the end of the forecast period. Fact.MR opines that increasing demand for light weight wheels for better fuel economy and vehicular performance is a major factor restraining the widespread adoption of automotive metal wheel, globally. Moreover, since metal wheels are more exposed to rust and corrosion, automotive wheel manufacturers prefer using alloy.

The most notable discovery of old times, the wheel has developed from an oversized bearing to an integral part of any modern transportation vehicle. Automotive wheels are equipped with complex geometry which must keep up with an array of design criteria such as weight, style, performance and manufacturability. As such, the popularity of automotive metal wheel has soared.

Aluminum alloy wheel is receiving accolades from all corners given its tremendous lightness, terrific grip on hostile terrains, advanced thermal conductivity, structural strength and better corrosion resistance; physical features of machine processing, casting and reutilizing. Alloy wheels have the capability of dissipating heat away from brake components along with providing significant fuel efficiency, faster stopping and quicker acceleration owing to reduced weight. As aluminum can be recycle easily, the aluminum alloy wheel is invaluable for energy preservation.

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Additive manufacturing —3D printing has brought a paradigm shift in automotive industry through lighter, stronger and safer products; reduced cost and contained lead times. Weight reduction is one of the pivotal aspects relating to additive manufacturing (AM). Accordingly, automotive application reaps benefits from complex geometries and sophisticated engineering materials to enhance performance and reduce weight.

Titanium is one of the most admired metals for strength and corrosion resistance vis-à-vis aluminum, however, it is inferior owing to designing, machine processing and high cost. Automotive metal wheels manufacturers have been using titanium alloy in electric vehicles as a prototype. Besides, some manufacturers are replacing aluminum with carbon fiber band to reduce rotational inertia and weight in automotive metal wheels.

Heavy investments in product simulations are being observed as original equipment manufacturers (OEMs) and consumers pay heed to performance-efficient, high precision and lighter wheels.

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Automotive Metal Wheel Market: Report Content

This report presents a thorough analysis on automotive metal wheel market which is underpinned by qualitative and quantitative assessment. Further, the report gives actionable insights on the drivers, trends, restraints, trends, opportunities, which have its considerable impact on the development of automotive metal wheel market. Moreover, the report throws light on segregation of the market to offer a coherent assessment of the automotive metal wheel.

The report elucidates exhaustive executive summary and market overview section. Furthermore, the report on automotive metal wheel market includes overview section which sheds light on Porters’ Five Force Analysis, trend analysis and value chain analysis. Essentially, Porters’ Five Force Analysis offers deep dive analysis on competitive landscape of the automotive metal wheel market. Additionally, the report on automotive metal wheel encompasses the market outlook along with attractiveness analysis, thereby providing deep dive analysis on the market. Manufacturers experimenting with Titanium for More Lightweight Wheels

Manufacturers of automotive metal wheels have been experimenting with Titanium alloy-especially in electric vehicles, by replacing aluminum wheel centers with titanium alloys for light weight wheels. Additionally, man

ufacturers are also using carbon fiber band instead of aluminum for a significant reduction in weight and rotational inertia in automotive metal wheels. Moreover, Fact.MR also predicts growing demand for carbon fiber reinforced polymer (CFRP) for wheel rims to deliver critical thermal and mechanical performance, resulting in reduced energy consumption.

Aluminum Alloy Metal in for a Bright Future in the Global Automotive Metal Wheel Market

Superior thermal conductivity compared to Steel, more structural strength, improved grip on difficult terrains, and better corrosion resistance are some key properties pushing the demand for Aluminum alloy wheels through 2022. Enhanced scope for multiple design innovations along with better fuel economy will result in widespread consumption of alloys wheels.

The assessment of the report has been done on the basis of the primary research and secondary research. The primary source deals with authenticity and unbiased views of seasoned analyst, including surveys, interviews and analysis by experts. Furthermore, secondary sources encompasses Factiva, veracious paid source, trade journals and resourceful database.  Eventually, the report is prepared with the assistance of absolute dollar opportunity analysis which have significant bearing on the growth of the automotive metal wheel market.

Automotive Metal Wheel Market: Competitive Analysis

A coherent analysis of competitive landscape of the automotive metal wheel market is undergirded by a thorough analysis of Porters’ Five Force Analysis giving insights on moves taken by competitors; report includes—portfolio of the product, financial overview, recent development, company overview, sales footprint and key differentiator.

Riding the aluminum wheels wave, Chinese wheel manufacturer CITIC Dicastal is said to build two aluminum wheels factories in Morocco, with an investment of 350 million euros. Iochpe-Maxion, CITIC Dicastal, Borbet, Superior Industries, Accuride, and Jingu Group are some key companies profiled by Fact.MR in its report on global automotive metal wheel market.

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