Global Automotive Steel Wheels Market 2021-2026

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    GLOBAL AUTOMOTIVE STEEL WHEELS MARKET

     

    INTRODUCTION

    Steel wheels are manufactured from an iron-carbon alloy. They are heavier, but they are more durable and can be repaired and refinished more easily. Because they are carved out on a press and welded together, they do not have all of the cosmetic spoke options that other wheel types possess. Steel wheels can be more resistant to impact cracks, despite their higher weight, which can reduce acceleration, agility, and fuel economy. They are also more resistant to dicer, gravel, and brake dust damage, making them more popular for winter driving. In general, steel wheels are less costly than aluminium wheels.

     

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    From the early days of the automobile until now, tires have seen many technological advancements. Improvements in raw materials and chemical compounds have led to tires that perform more effectively. Whether it is compounds offering better grip in snow and ice or compounds providing improved wet handling, technology continues to enhance tire performance.

     

    Steel wheels have been around for a long time and have shown to be robust and long-lasting. As a result, we may find them in heavy SUVs, city vehicles, and even HMVs. Steel wheels are produced as a less expensive alternative to alloy wheels. Steel wheels are manufactured by stamping the wheel into the desired form. Steel wheels are significantly less expensive to purchase, costing between 70% and 80% of the price of alloy wheels.

     

    GLOBAL AUTOMOTIVE STEEL WHEELS MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Maxion Inci Wheel Group has invested in new plant for Vehicular Wheel production n June 2021, Maxion İnci Wheel Group, a subsidiary of İnci Holding and Maxion Wheels, invested TRY 250 million in a new plant to increase its heavy and commercial vehicle wheel production capacity. Global This would enhance better Adoption and better suspension technologies harnessing.

     

     

    GLOBAL AUTOMOTIVE STEEL WHEELS MARKET DYNAMICS

    Steel wheels are more durable than alloy wheels. This is why strong, sturdy SUVs are outfitted with steel wheels. They are also the primary option of many low-cost automakers. Steel wheels are more malleable than alloy wheels, making them less difficult to fix. Repairing a steel wheel is as simple as hammering the bent piece back into place. With the advent of electric vehicles and their significant lower propulsion noise emission it is possible to assess the tyre-road noise through cruise-by measurements with an increased accuracy, even at speeds where a combustion engine propulsion system would usually disturb the measurement results.

     

    Furthermore, the global automobile industry has been under constant pressure to modernise and discover new methods to improve energy efficiency and reduce carbon emissions, which boosts the use of stainless steel in the automotive industry. Steel wheels’ widespread adoption is expected to boost the growth of the automotive steel wheels market. Because governments throughout the world have imposed lockdowns in recent months, many automobile steel wheel producers’ demand and supply cycles are susceptible.

     

    The vendors in the steel wheel business throughout the world are suffering greatly as a result of production limitations as well as announced lockdowns, which are hurting the sector as a whole. The majority of automotive steel wheel producers are facing severe difficulties such as factory closures and a lack of labour owing to lockdowns, which also impacts vehicle manufacturing. Steel wheel is a developing industry that has been impeded by an ongoing virus, which has caused all types of manufacturing and installation throughout the afflicted nations to be shut down and all activities to be disrupted owing to the pandemic.

     

    GLOBAL AUTOMOTIVE STEEL WHEELS MARKET SEGMENTATION

     

    The Global Automotive Steel Wheels Market can be segmented into following categories for further analysis.

     

    By Rim Size Type

    • 13 to 15 Inches
    • 16 to 18 Inches
    • 19 to 21 Inches
    • More than 21 Inches

     

    By EV Application

    • Residential Application
    • Commercial Application
    • Industrial Application
    • High-Capacity User Application

     

    By EV Classification

    • BEV
    • HEV
    • FCEV
    • Conventional Fuel Vehicle

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT MARKET TECHNOLOGICAL TRENDS IN GLOBAL AUTOMOTIVE STEEL WHEELS MARKET

    As a result of several government laws about heavy vehicles, lightweight steel wheels were created to deliver a considerable weight reduction in the vehicle with a higher durability. The weight of a vehicle increases its fuel consumption, which in turn increases air pollution and the vehicle’s speed. Many automakers are investing in the creation of lightweight and fuel-efficient automobiles. Automotive manufacturers, such as BMW and Mercedes, have already begun to ramp up manufacturing of fuel-efficient vehicles by reducing weight through the use of lightweight steel wheels. As a result, an increase in demand for steel wheels will drive up prices.

     

    The technology has been evolving at varied levels, this has been part of the much-required future enhancements. Various technologies include the traditional drop centre, high vent, bead seat (half full face), and full-face wheels. Coatings and finishes, such as electro-deposition epoxy primers, colour acrylic topcoats, and chrome plated stainless steel or PC/ABS plastic claddings, can be tailored to specific stylistic and application requirements. For world-class corrosion protection, we apply an ecologically friendly pre-treatment to every wheel prior to coating.

     

    The whole face design is our most commercially successful steel wheel technology product invention. The wheel is made by integrating the curb-side flange into the disc and then welding it to the single flange rim in a 360-degree arc. The connection joint produces the lightest, most mass-efficient steel wheels on the market, as well as greater braking clearance and a striking look. Cladding can also be applied in-house as part of our manufacturing process to provide a low-cost, lightweight alternative to chrome.

     

    COMPETITIVE LANDSCAPE

    Tires are the heart and soul to operational mechanism of the EV at all times throughout its life that contributes to being the least expensive conglomerate part onboard the vehicle. The EVs tyres need to be technologically advanced and better modified through various requirements being fulfilled at all times. the additional weight of any batteries and electric motor is offset by increasing the load-bearing capacity of the tire carcass, as indicated on most tires by an XL symbol on the sidewall. Energy losses due to tires are of particular concern to EV manufacturers. With rolling resistance accounting for up to 20% of a vehicle’s energy consumption.

     

    Maxion Wheels is developing various light weight-based steel wheel technologies. The GEN34 is a real game-changer – through sophisticated design and global manufacturing techniques, this wheel weighs significantly less than its predecessors without sacrificing either reliability or durability. Maxion Wheels, a main wheel supplier for the electric car programs and last-mile fleets at the forefront of New Mobility, has been responding to these changes. With current Maxion programs putting millions of alternative powertrain vehicle wheels on the road, Maxion’s innovation work with start-ups and advanced R&D programs for global automakers gives its team early insight into how New Mobility will change wheel designs for good.

     

    Enkei Wheels is developing new technologies of importance towards steel wheels development in the market. Enkei developed a new manufacturing process to produce the next aluminium wheel generation. The Most Advanced Technology (M.A.T) combines one-piece cast wheel technology with a rim forming technology called spinning process. Using this new technology of casting and rim forming by M.A.T process is critical to improving drastically the material property and strength of the wheels. Rim-Rolled technology shapes the rim to improve material elongation without sacrificing the wheel’s hardness.

     

    COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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