Global and China Automotive Wheel Industry Report, 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 12, 2018--The “Global and China Automotive Wheel Industry Report, 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
The global automobile output edged up 2.4% year on year to 97.3 million units in 2017 and it is expected to grow at around 2.0% in the next five years. China, as the largest producer of automobiles in the world, garnered the output of 29.05 million units in 2017, with a year-on-year increase of 3.2% and a 29.8% share of global total.
The automotive wheel industry grows steadily in pace with the automobile industry. In 2017, China’s output of automotive wheel rose 7.1% year on year to about 270 million units, with the CAGR of 14.2% between 2009 and 2017. Favored by policies, the automotive wheel industry will see a CAGR of 4.0% or so during 2018-2023. As its automotive wheel industry is developing apace, China has become the global production center for automotive wheels, with at least 70% of the world’s wheels produced in China.
Automotive wheels can be divided into aluminum wheel and steel wheel, of which the former is primarily used in light vehicles with a higher market share. The aluminum wheel output seized 69.6% of the total in 2017, and it is expected to reach 250 million units in 2023.
The demand for wheels in China are primarily from OEMs, AM and export. In 2017, 48.4% and 41.4% of the market demand for Chinese aluminum wheels stemmed from OEMs and export respectively; over 70% of the demand for steel wheels was driven by OEMs.
Major automotive wheel manufacturers in China include CITIC Dicastal, Zhejiang Jinfei Kaida Wheel, Zhejiang Wanfeng Auto, Zhengxing Wheel, Zhejiang Jingu, etc., featuring relatively high market concentration. In 2017, the CR5 of China’s aluminum wheel industry was 54.0%, of which CITIC Dicastal ranked first with a market share of 26.9%; China’s steel wheel industry fetched the CR5 of 63.3%, in which Zhengxing Wheel and Zhejiang Jingu held the market share of over 15.0% each.
At present, the gap between the cost price and the selling price of wheels is huge, meaning the use cost is high. Shared wheel is growing a trend to reduce the cost. In July 2018, the first Chinese shared wheel brand made its debut in China.
Key Topics Covered:
1 Overview of Automotive Wheel
2 Global Automobile Market
3 Chinese Automobile Market
4 Global Wheel Market
5 Chinese Wheel Market
6 Foreign Wheel Manufacturers
7 Aluminum Wheel Manufacturers
8 Steel Wheel Manufacturers
Companies MentionedBorbet CHUO SEIKI CITIC Dicastal Changchun Faway Automobile Components Dongfeng Motor Wheel Donlinks Group ENKEI Iochpe-Maxion Lioho Group Lizhong Wheel RONAL SII Shanghai MingQi Aluminium Industry Sheng Wang Auto Parts TOPY Xingmin Intelligent Transportation Systems (Group) YHI Zhejiang Jinfei Kaida Wheel Zhejiang Jingu Zhejiang Wanfeng Auto Wheel Zhejiang Yueling Zhengxing Wheel
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Related Topics:Suspension Systems and Components
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: AUTOMOTIVE AFTERMARKET
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/12/2018 08:10 AM/DISC: 11/12/2018 08:10 AM