Published Date: 28-Jul-2022
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According to a new report, published by KBV research, The Global Automotive Carbon Wheels Market size is expected to reach $1 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period.
The OEM segment acquired maximum revenue share in the Global Automotive Carbon Wheels Market by Distribution Channel in 2021, thereby, achieving a market value of $660.7 million by 2028. This segment is expanding due to a growing emphasis on enhancing engine power within electric vehicles compared to weight of the vehicle in both passenger and commercial electric vehicles.
The Commercial Vehicles segment is showcasing CAGR of 9.4% during (2022 - 2028). It is due to the rise in the number of construction activities around the world. Along with that, the expansion of the transportation and logistics sector due to the rising popularity of e-commerce platforms is creating demand for commercial vehicles and hence, augmenting the growth of the market.
The Europe market dominated the Global Automotive Carbon Wheels Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $330.8 million by 2028. The Asia Pacific market is estimated to witness a CAGR of 9.7% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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