Global automotive carbon wheels market is anticipated to mask a notable CAGR of 28.3% during the forecast period i.e. 2017-2024. Moreover, the global automotive carbon wheels market is projected to account for exponential revenue by the end of 2024.
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The global automotive carbon wheels market is segmented into distribution channel such as OEM and aftermarket, out of which, OEM segment is expected to dominate the overall automotive carbon wheels market and is anticipated to capture a noteworthy CAGR by 2024. Likely, rising popularity of carbon wheels on the back of high tensile strength is envisioned to bolster the growth of global automotive carbon wheels market.
Furthermore, rising number of automobiles on road is also projected to trigger the growth of automotive carbon wheels market in near future.
Additionally, growing inclination of consumers towards innovative and advanced automotive products is believed to propel the growth of automotive carbon wheels market.
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In terms of regional platform, Asia Pacific accounted for the largest market of global automotive carbon wheels in terms of revenue in 2016. Moreover, presence of emerging economies such as China and India and positive GDP figures are believed to foster the growth of automotive carbon wheels market in this region.
In addition to this, presence of major carbon wheels manufacturer i.e. Carbon Revolution Pty. Ltd in this region is also predicted to strengthen the market of automotive carbon wheels.
Apart from this, Europe automotive carbon wheels market is anticipated to grow at a significant pace due to rise in sales of sports cars.
Government legislations and guidelines regarding pollution across the globe are projected to foster the growth of automotive carbon wheels market. Moreover, numerous properties of carbon wheels such as light weight, high tensile strength and others are also pushing the automotive manufacturers to adopt carbon wheels due to regulation imposed by government to reduce the weight of vehicles which are also predicted to upsurge the growth of automotive carbon wheels market.
Rising Demand for Sports Cars
Increasing sales of sports cars on the back of swelled disposable income of the consumers is projected to bolster the growth of automotive carbon wheels market across the globe.
In contrast, high cost associated with automotive carbon wheels is expected to dampen the growth of the global automotive carbon wheels market in near future.
The report titled “Automotive Carbon Wheels Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive carbon wheels market in terms of market segmentation by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive carbon wheels market which includes company profiling of ESE Carbon, Eve Wheels LLC and Carbon Revolution Pty Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global automotive carbon wheels market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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