Magnesium Wheel Market Will Record an Upsurge in Revenue during 2021-2026

Stratview Research has published a report on the Magnesium Wheel Market Segmented by Manufacturing Type (Cast and Forged), by End-Use Type (OEM and Aftermarket), by Vehicle Type (Bikes and Premium/Sports Cars), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Segments’ Analysis

The market researchers have studied the Magnesium Wheel Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is the short piece of information –

Based on the manufacturing type, the market is segmented as cast and forged. The cast manufacturing type is projected to account for the major share of the market owing to its lower cost of production. Factors such as lower complexities in casting along with easier fabrication processes, and uniform grain structure coupled with the availability of multiple manufacturing processes are further expected to boost the growth of the segment during the forecast period.

Based on the end-use type, the market is segmented as OEM and aftermarket. OEM is anticipated to account for the major share of the market on account of growing preferences of automobile manufacturers to incorporate high-end features in their vehicles to enhance their aspirational value. Moreover, enhanced quality of riding & comfort on uneven roads and excellent damping abilities are further expected to fuel the overall market growth during the forecast period. On the other hand, aftermarket is projected to witness significant growth rate owing to increasing consumer preferences for customizing their vehicles in the aftermarket during the forecast period.

Based on the vehicle type, the market is segmented as bikes and premium/sports cars. The bike vehicle type is estimated to register higher growth rate in the market on account of increasing traffic congestion and easier maneuverability across various cities & towns during the forecast period. Its light weighted wheel helps in enhancing the efficiency of bike and riding with ease and comfort, fueling the segment’s growth during the forecast period. Moreover, premium/sports car is projected to witness significant growth in the market during the forecast period owing to the growing demand for such cars with technologically-advanced properties, which results in an improved performance of the vehicle.

In terms of regions, Europe is estimated to be the leading region in the market owing to the presence of some of the key automobile manufacturers in the region, launching new and improvised vehicles to meet consumer’s demand during the forecast period. Moreover, Asia-Pacific is also estimated to witness significant growth in the market on account of increasing disposable income and growing preferences for personal mobility in the region over the forecast period. North America is also expected to offer substantial growth opportunities during the forecast period.

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What else are available in this report?

The answer lies in the TOC and other details. Take a sneak-peek into the TOCs of this report.

  • Report Scope
  • Report Objectives
  • Research Methodology
  • Market Segmentation
  • Secondary Research
  • Primary Research
  • Breakdown of Primary Interviews by Region, Designation, and Value Chain
  • Data Analysis and Triangulation

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