The North America Automotive Carbon Wheels Market would witness market growth of 9.0% CAGR during the forecast period (2022-2028).
A wheel is a hub-attached circular metal frame with spokes or a solid disc. Car tyres are placed on a wheel frame, which is sometimes called rims or alloy wheels. These are made of steel, aluminium, magnesium, carbon fibre, or a mixture of these metals. Carbon fibre wheels for automobiles are lightweight, get a long wheel life, and are very robust. They also have a number of advantages over standard wheels, including increased fatigue damage quality and rigidity, increased grip, self-vibration cushioning, and high temperature rigidity.
Due to wheel movement and an absence of static camber, a high-end OEM aluminium wheel severely burned the tire's outside edge during the testing. The Carbon Revolution CR-9, on the other hand, had substantially superior tyre wear, no blistering, and remained consistently faster on the track. Carbon wheels may maintain less static camber than aluminium wheels due to their stiffness. Braking, acceleration, and consistency are all improved as a result of this.
Carbon fibre composites are the best material with limitless applications due to their versatility and characteristics. In addition, carbon is a perfect material for security in everything from racecars to fighter aeroplanes to passenger planes to sporting goods and medical gadgets because of its light weight, strength, and durability.
Canadian companies are pioneering the development of game-changing automobile innovations. Global OEMs like GM and Ford, as well as tech titans like Uber, Google, and Nvidia, are investing heavily in autonomous and connected vehicle research thanks to Canada's strength in developing technologies. Artificial intelligence (AI) areas such as deep learning, machine learning, neural networks, and computer vision are increasingly driving growth in Canada's thriving tech economy. Geoffrey Hinton, Yoshua Bengio, and Richard Sutton were early AI pioneers in Canada, and their work contributed establish the groundwork for self-driving cars.
As electric and autonomous vehicles grow more common, handling data from vehicles is becoming a progressively crucial part of ensuring reliable and safe transportation. Canada has the expertise to analyze the big data that automated cars are already producing. In addition, Canadian companies are collaborating with global OEMs to handle huge quantities of data and optimize the performance of entire networks of vehicles, due to groups of academic and commercial quantum computing R&D. Canadian businesses also have the know-how to keep that information safe.
The US market dominated the North America Automotive Carbon Wheels Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $229 million by 2028. The Canada market is experiencing a CAGR of 11.5% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 10.6% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into OEM and Aftermarket. Based on Vehicle Type, the market is segmented into Passenger Cars, Commercial Vehicles, and Two Wheelers. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Automotive Carbon Wheels Market is Estimated to reach $1 Billion by 2028, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carbon Revolution Ltd., Thyssenkrupp AG, Hitachi Metals, Ltd. (Hitachi, Ltd.), Dymag Group Limited, HRE Performance Wheels, Litespeed Racing Inc., Rolko Kohlgrüber GmbH, Ronal Group, Rotobox d.o.o., and ESE Carbon Company.
By Distribution Channel
By Vehicle Type
By Country
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