Raipur, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Magnesium Wheel Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Magnesium Wheel Market is driven by a host of factors, some of which are noted below:
- Increasing preference of automobile OEMs to lower vehicle weight to enhance fuel efficiency coupled with lowering carbon emissions.
- Increasing disposable incomes.
- Growing preference for personal green mobility solutions.
- Growing demand for premium & sports cars and bike.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Magnesium Wheel Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Manufacturing Type (Cast and Forged),
- By End-Use Type (OEM and Aftermarket),
- By Vehicle Type (Bikes and Premium/Sports Cars),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Magnesium Wheel Market Insights
Market Trends by 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.
Market Trends by 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.
Which region offers the best opportunity and growth?
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.
COVID-19 Impact on the Magnesium Wheel Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/1409/magnesium-wheel-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
- BBS USA
- Cromodora Wheels S.P.A.
- Enkei Corporation
- Marvic Wheels SRL
- Minilite
- MKW Alloy
- PVM Brakes & Wheels Mannheim
- Ronal Group
- SMW Engineering Ltd.
- Washi Beam
What deliverables will you get in this report?
- In-depth analysis of the Magnesium Wheel Market.
- Detailed market segmentation.
- Competitive landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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