High Performance Wheels Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

High Performance Wheels Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 28, 2024 /EINPresswire.com/ -- The global high-performance wheels market has experienced robust growth, expanding from $20.59 billion in 2023 to $21.98 billion in 2024, at a compound annual growth rate (CAGR) of 6.8%. It will grow to $27.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.This growth can be attributed to increased demand for high-performance vehicles, rising interest in customized wheels, expanding motorsports activities, and the overall expansion of the automotive industry amid rising disposable incomes.

Rising Sales of Luxury Cars Drive Market Growth
The rising sales of luxury cars significantly contribute to the growth of the high-performance wheels market. Luxury vehicles, known for their enhanced performance, status, comfort, and quality, use high-performance wheels to improve grip, cornering ability, and heat dissipation compared to standard options. For example, Rolls Royce reported an increase in sales from 5,586 units in 2021 to 6,021 units in 2022, highlighting a growing market for luxury vehicles equipped with high-performance wheels.

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Key Players and Market Trends
Major companies such as Topy Industries Ltd., Maxion Wheels GmbH, Accuride Corporation, and others are focusing on innovative solutions and strategic partnerships to develop advanced high-performance wheel technologies. For instance, Dymag Group Limited partnered with Hankuk Carbon and Hyundai Motor Company to introduce the N Performance carbon hybrid wheel, aimed at enhancing the dynamic qualities of high-performance vehicles.

Market Segments
• Product Type: Aluminum, Steel, Magnesium, Carbon Fiber
• Coating: Painted, Polished, Chromed, Machined
• Manufacturing Process: Gravity Casting, Low-Pressure Casting, High-Pressure Die Casting
• Sales Channel: OEM (Original Equipment Manufacturer), Aftermarket
• Application: Passenger Cars, Lightweight Commercial Vehicles, Heavy Trucks, Buses And Coaches, Trailers, Motorcycles, Motorsports
Geographical Insights: Europe Leading the Market

Europe emerged as the largest region in the high-performance wheels market in 2023, with significant contributions from Western and Eastern Europe. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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High Performance Wheels Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The High Performance Wheels Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on high performance wheels market size, high performance wheels market drivers and trends, high performance wheels market major players, competitors' revenues, market positioning, and market growth across geographies. The high performance wheels market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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