AluMag Automotive has recently completed a market analysis of the global automotive aluminium alloy wheel market.
According to the report, alloy wheels accounted for 53% of the global OE (Original Equipment) lightweight automotive vehicle market in 2016. For commercial truck & trailers the penetration of alloy wheels was 14%. The highest penetration of OE alloy wheels is present in North America where alloy wheels account for 74% of Light Weight Vehicle market and 40% of commercial vehicles.
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The total capacity of the 12 largest cast alloy wheel producers exceeded that of the global automotive Original Equipment demand. More than 50 cast alloy wheel manufacturers with a capacity of at least one million units were accounted for in this report by AluMag. This indicates a clear sign of a large cast alloy wheel aftermarket globally.
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Cast wheels will remain the preferred alloy wheel for light weight vehicles and are expected to grow faster in the coming years. On the other hand, the penetration of forged wheels in light weight vehicles is expected to grow moderate in commercial and lightweight vehicle sector over the coming years. Currently, forged wheels are primarily used on high-end vehicles and sports cars, but the booming electric vehicle segment could boost the penetration of forging wheels in commercial vehicle market in near future. On the other hand new hybrid wheels to be launched by alloy wheel players like Maxion / Thyssen could become a threat to forged wheels manufacturers.
For more information on the wheel analysis users can contact www.alumag.com.
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