03 June 2019, The global steel wheel
market is expected
to grow during the forecast period. It is a common practice in passenger cars
to use rims that come with a drop-centre design. The purpose of drop centre
enables the wheel rim to come in and out of the wheel hence it is necessary for
wheels to be robust to carry the entire mass of the vehicle and sustain extreme
weather conditions. The wheel centre must encompass the wheel rim at the centre
of the axle. It should also provide a standard distance from the wheel’s centre
to sustain the turbulence caused due to rotational motion.
The steel
wheel aka wheel rim must also be under proper dimensions to support the tyre
with a loaded vehicle and the forces generated by the vehicle’s motion. On
inflating the tyre, the rim holds the tyre and enables safety. In any event of
deflation, the safety ridges prevent the tyre from losing its centre position.
This further helps in maintaining the control of vehicle when brakes are
applied. Therefore, well-based rims can also be used for HCVs with tubeless
tyres.
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| Steel Wheel Market |
Steel wheel
market is driven by development in automobile infrastructure and surge in
automobile production. In addition, the market growth is stimulated due to
presence of key players in the industry and demand for OEMs. Change in
manufacturing trends and distribution logistics is more likely to propel the
market growth during the forecast period.
Product
segment for steel wheel industry includes passenger cars, light commercial
vehicles and heavy commercial vehicles. Passenger cars account for a significant
market share during the forecast period. Geographical segmentation for the
market comprises North America, South America, Europe, Asia-Pacific, Middle
East and Africa. Asia-Pacific regions are most likely to gain a significant
market share during the forecast period due to rise in automobile production
and infrastructure.
North
American and European markets are anticipated to register a robust CAGR during
the forecast period owing to stringent policies for automobile production and
regulatory framework. The key players profiled in the steel wheel market report
are Accuride Corporation, Dongfeng Automotive, Titan International, Maxion
Wheels, Akron, Meritor, Topy, Central Motor Wheel, CLN Group, Metro Wheels
GmBh, Shandong Shenghai, Xingmin Intelligent Transportation Systems, Zhengxing
Group, Zheijang Jingu Company, and GKN.
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