Global automotive aluminium wheels market: 8.5% CAGR expected between 2012-2016

Press Release   •   Jul 16, 2013 10:22 BST

The Global Automotive Aluminium Wheels market is to grow at a CAGR of 8.48 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for vehicles across the world. The Global Automotive Aluminium Wheels industry has also been witnessing an increasing manufacturing of wheels in the APAC region. However, the availability of other lightweight wheel material could pose a challenge to the growth of this market.

Many large global firms are nowadays outsourcing manufacturing activities to low-cost destinations in the APAC region to reduce manufacturing costs. In fact, many automotive manufacturers have started product development operations in developing countries to leverage the talented and low-cost labor available there. For instance, in 2011, several automotive companies in Western Europe and North America outsourced a large number of manufacturing operations to China. As a result, the Global Automotive Aluminium Wheels industry is growing at a faster pace in developing economies as compared to developed economies.

One of the main drivers in the market is the increase in automobile production and sales. The increasing demand for vehicles has led to an increase in the demand for tyres, which has further fostered the demand for automotive aluminium wheels.

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