Automotive Wheels Aftermarket Greater Revenue Share by – 2025
According to MarketsandMarkets analysis, the Automotive Wheels Aftermarket , by volume, is estimated to reach 29.9 million units in 2018 and projected to grow at a CAGR of 4.07% during the forecast period. The major factors driving this growth are increasing vehicle sales and cost-effective pricing. The heavy investments in R&D by wheel manufacturers worldwide in the aftermarket has led to continuous advancements in wheel technologies. The growing trend of using lightweight materials and continued improvement of vehicle dynamics are among the major factors responsible for the expected advancements in the automotive wheel’s aftermarket. The global wheels aftermarket is expected to show growth at a CAGR of 3.53% from USD 3.5 billion in 2018 to reach USD 4.5 billion by 2025. The continuous growth in the use of advanced materials and new compositions in wheels by manufacturers and OEMs is further anticipated to boost the automotive wheels aftermarket. In 2018, BORBET introduced...