Europe carbon wheels market size is estimated to grow at a CAGR of 30% through 2026. Regional carbon wheel manufacturers are constantly focusing on innovation and product differentiation. Citing an instance, Ronal Group had opened a new innovation center under Ronal Technologies in November 2018 to focus on distinct projects for automotive applications.
Europe is home to some of the world’s most renowned luxury carmakers including Porsche AG, Daimler AG, and Ferrari S.p.A. With the introduction of tighter regulations by the European Union pertaining to energy-efficiency and vehicular emissions, these automakers are anticipated to invest in high-performance, lightweight, and durable carbon wheels.
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One of the fastest growing verticals within the automotive and transportation sector, global carbon wheels market size is estimated to be worth more than US$450 million by 2026. The demand for these wheels can be attributed to increasing number of ultra-high and high-net-worth individuals (HNWIs) and subsequently rising premium vehicle demand.
Automotive aftermarket and automotive OEMs are among the major end-users of carbon wheels. Carbon fiber wheels for OEMs are designed and manufactured in conformance to manufacturing capabilities of OEMs as well as international quality standards, which allow them to maintain their brand value.
Carbon wheel manufacturers are adopting numerous growth strategies to gain a competitive edge. Partnering with OEMs has been one of the most effective tactics among these companies. In October 2019, Carbon Revolution had announced a strategic collaboration with Henkel for the development of OEM approved single construction carbon fiber wheels.
From passenger vehicles to commercial vehicles, premium vehicles, and two-wheelers, carbon wheels have found their way across the complete spectrum of vehicles. The demand for carbon wheels across the passenger vehicle segment is projected to grow at a CAGR of 33% through 2026.
Passenger vehicles are among the most commonly purchased vehicles that help consumers meet personal mobility needs. Several factors including rising household incomes and improving public road infrastructure has made passenger vehicles one of the most profitable verticals within the automotive sector. Automakers are expected to ramp up their production of newer, more advanced, and more affordable passenger vehicles in the upcoming years.
Carbon Revolution Limited, Phoenix Wheel Company, Inc. (HRE Wheels), Blackstone Tek, Rotobox D.O.O., ESE Carbon Company, Ronal Group, Vision Ability Dedication Limited (VAD), thyssenkrupp AG, Dymag Group Ltd., and Geric B.V. are a few prominent names in Carbon wheels market. These manufacturers are aiming to ramp up production capacity in anticipation of a robust demand in the near future.
For instance, in July 2020, Carbon Revolution said it has been eyeing off new export contracts as the company ramps up for rapid growth. During FY20, Carbon Revolution had increased its production to 30,000 units per year, which helped the company shrug off the effects of the coronavirus pandemic.
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Partial Chapter of the Table of Content
Charts & Figures
FIG. 1 Overall market, by region, (% Volume share)
FIG. 2 Carbon wheels market 3600 synopsis
FIG. 3 Industry segmentation
FIG. 4 Global carbon wheels industry size and forecast, 2016 – 2026
FIG. 5 COVID-19 impact on the industry landscape
FIG. 6 Industry ecosystem analysis
FIG. 7 Percentage change in value chain disruptions factors due to COVID-19
FIG. 8 COVID-19 impact on the automotive industry
FIG. 9 Automotive wheel demand scenario (2019)
FIG. 10 Regional pricing (USD/unit)
FIG. 11 Carbon wheels market Cost structure analysis, 2019
FIG. 12 Global premium executive car sales (Million Units), 2014 - 2018
FIG. 13 Global electric car deployment (Million Units), 2013-2018
FIG. 14 Growth potential analysis, 2019
FIG. 15 Porter’s analysis
FIG. 16 Carbon wheels market market share analysis, 2019
FIG. 17 PESTEL analysis
FIG. 18 Global carbon wheels market volume share by vehicle, 2019 & 2026
FIG. 19 Global Market volume share by end-use, 2019 & 2026
FIG. 20 Global Carbon wheels market share by region, 2019 & 2026
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