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The global automotive wheel hub market is driven by the growing population base and increasing single families which is giving rise to a higher demand for cars. The improving economy and increasing disposable income of the people are also fueling the sales of automobiles, which will aid the growth of this market. The report on automotive wheel hub market is detailed and covers all important aspects of this industry. It comprises a detailed explanation of the key factors aiding the growth of the market worldwide. It also discusses the various challenges or issues faced by market players and the steps needed to be taken to overcome these challenges. The key segments and sub-segments of the global automotive wheel hub market have not only been studied but also the leading, declining, fastest growing, and most sluggish growing segments are pointed out by experts.

The automotive wheel hub market is studied both on a regional scale as well as from the global point of view. The most lucrative regional segment is hinted in the report, helping readers, investors, established players, and new entrants to get a clear idea where to invest so as to reap maximum profits. The report also analyses the bargaining power of buyers and suppliers, the degree of competition, threat of new entrants, and threat of substitutes. In addition to this, the competitive landscape has been discussed in detail. The key players in the market have been profiled and their business and financial status are studied. 

Wheels are the most important part of a vehicle for smooth and safe transportation. The hub is located in the center of a wheel that connects the axle to the wheel itself. The automobile is able to execute its function depending on the quality of its wheels.

Rising demand of automobiles are estimated to increase the demand for automotive wheel hub in the market. The expansion of the automotive industry is further anticipated to increase the demand for automotive wheel hubs in the market. Rising average age of vehicles, globally, is likely to increase the demand for automotive wheels in the automotive aftermarkets. Currently, vehicle penetration per 1,000 population is very low in emerging countries such as China and India. Vehicle penetration per 1,000 population in both China and India are in double digits. Rising vehicle penetration in emerging economies including China, India, Russia and South Africa is estimated to increase the demand for automotive wheel hubs in the market. A major restraint faced by the automotive wheel hub market is the high price of wheels in aftermarkets. A major opportunity in the automotive wheel hub market is the increasing focus of automotive firms such as Volvo, Tesla, BMW AG to produce electric vehicles and hybrid electric vehicles. This is anticipated to create a considerable demand for automotive wheel hubs in the market. Both Volvo and BMW plan to sell 1 million electric vehicles by 2025 and 2017 respectively. Furthermore the advent of advanced driver assistance system (ADAS) and autonomous driving (AD) is likely to generate requirement of high quality wheels and hubs.

In terms of materials the global automotive wheel hub market can be segmented into aluminium wheels, steel wheels and alloy wheels. The market when segmented on the basis of wheel type are tube wheels and tubeless wheels. In terms of application, the market can be segmented into original equipment manufacturers (OEMs) and aftermarkets. In terms of end-users the market can be segmented into light commercial vehicles, heavy commercial vehicles, passenger vehicles, off-road vehicles and two wheelers. Steel wheel hub segment has a major share in the automotive wheel hub market. Moreover tube wheels segment commands a major share as compared to tubeless wheel segment in the market, however the share of tubeless wheels is rising. Passenger vehicles are a prominent segment in the end-user category.

In terms of geography the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is a significant market for automotive wheel hub. China is a prominent market for automotive wheel hub in Asia Pacific. In Asia Pacific China recorded significant y-o-y growth in vehicle sales in 2016. India and Japan are other major automotive wheel hub markets in the region. The automotive wheel hub market in India is estimated to expand as India follows China in terms of y-o-y growth in vehicles sales. The automotive wheel hub market in Japan is anticipated to contract due to decrease in vehicles sales in the region. North America follows Asia Pacific in terms of market size in the automotive wheel hub market. The U.S is a prominent market for automotive wheel hub market in North America followed by Canada and Mexico. Europe follows North America in terms of market size in the global automotive wheel hub market. Germany is a significant market for automotive wheel hub in Europe. The other major automotive wheel hub markets are the U.K, France, Italy, and Spain. Brazil is an important automotive wheel hub market in Latin America, however the market is likely to contract due to recession in Brazil. The recession is estimated to be over by the end of 2017.

Major firms operating in the automotive wheel hub market include Maxion Wheels (the U.S), Alcoa (the U.S), Accuride Wheel End Solutions (the U.S), CMWheels Ltd (the U.K), Borbet GmbH (Germany), Ronal (Switzerland), Enkei (Japan), ZHENGXING WHEEL GROUP CO., LTD (China), Citic Dicastal Wheel Manufacturing Co., Ltd (China), and Lioho Machinery (Taiwan).

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Automotive Wheel Hub Market

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