High Performance Wheels Market Size, Regional Outlook, Price Trend, Competitive Market Share & Forecast, 2016 – 2023: Global Market Insights, Inc.

Press Release   •   Oct 11, 2016 06:29 EDT

Reduced weight for superior braking and acceleration coupled with corrosion protective ends for improved aesthetics are the major drivers responsible for the growth of high performance wheels market size over the next few years.

Carbon composite wheels provide 30% to 50% weight saving against conventional aluminum wheels, significantly enhancing the ride performance, improving fuel efficiency and vehicle handling. The major manufacturers are activity investing in research and development field in order to enhance the offerings to their more demanding and discerning customers.

Profil wheels offer superior acceleration, fuel efficiency and braking especially for sports car industry. It was developed using a Finite Element Analysis (FEA) of each and every design in the series. In addition, it facilities to reduce unnecessary weight and finely tune the wheel shapes which in turn lowers the weight for improving wheel performance. The above mentioned factors are also anticipated to boost global high performance wheels market size over the forecast period.

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In addition, reduced unsparing weight for better handling and ride is also expected to spur the demand. Moreover, improved brake performance with increased air flow through spokes along with deep stuffing fitments for immense caliper and rotor clearance are also boosting the demand for this industry over the forecast period.

Wheels are frequently preferred modifications done by owners, as a single and relatively simple alteration can significantly change vehicle character and appearance. In recent years, raw material cost, economic factors and consumer preference to maintain aged vehicles have been critical industry influencing factors. This will lead toward wheel and tire pairings to be simple and more functional. Off-road vehicles and 4x4 segments are likely to witness significant growth over the forecast period.

Strong, light and rugged wheels are available in a variety of bolt choices, back spacing and unlocked or locked bead styles. Steel wheels are expected to be favored for low-budget, off-road vehicles, owing to their strength, and the interest in superior quality forged wheels, for quick off-road uses. For passenger vehicles, manufacturers are observing rising demand for European designs and concaves. 

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Increasing demand for luxury cars has also spurred the global high performance wheels market. For instance, Jaguar Land Rover (JLR) sale rose by 30% in 2013 as compared to the previous year. Rolls-Royce sold around 3,575 units of its ultra-luxury cars in 2012, which in turns drives the industry demand. Bentley, has launched Flying Spur limousine at the Geneva motor show, and increases its sales growth of over 24%.

Machined faces combined with crisp styling and lines are prevalent trends in passenger vehicles. Painted wheel designs with milled window have seen a significant increase in industry participants operating in this space and their sales. Flat black remains immensely accepted, and wheels including inserts offer affordable options for styling without the heavy new mold costs. Manufacturing costs will continue to be a major factor in terms of industry profitability and economic feasibility, along with innovating to improve performance while reducing vehicle weight for better fuel efficiency are high on the lists of most of the top-flight brands.

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Chief participants capturing majority of the global high performance wheels market share includes HRE Performance Wheels, Fikse Wheels, Weds Wheels, Guelph Hyundai, American Eagle Wheels Corporation, Vossen Wheels, Gram Lights, Konig Wheels, Work Wheels USA, RAYS Co. Ltd, OZ S.p.A, Wheelpros, Inc., Enkei Wheels, Automotive Wheels Ltd. and BBS Kraftfahrzeugtechnik AG among others.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.