Europe Automotive Steel Wheels Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Rim Size (13–15 Inches, 16–18 Inches, 19–21 Inches, and More than 21 Inches), Vehicle Type (Heavy Commercial Vehicle, Light Commercial Vehicle, and Passenger Vehicle), and End User (OEM and Aftermarket)
Market Introduction
The Europe's automotive steel wheels market is analyzed based on the five major countries such as Germany, the United Kingdom, France, Italy, and Russia. Countries such as Germany and France majorly contribute the growth of automotive steel wheels market in the European region.
Other countries such as UK, Italy, and Russia are likely to have growth opportunities for the automotive steel wheels market. Also, presence of huge automotive industry along with product innovations made by the players operating in the region, and economically strong countries is likely to drive market growth significantly during the forecast period.
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Market Overview and Dynamics
The Automotive Steel Wheels Market in Europe is expected to grow from US$ 1230.25 Million in 2020 to US$ 1623.04 Million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021-2028. Acceptance of Steel Wheels in Electric Power Vehicles is driving the market growth. Steel wheels still finds application under heavy load carrying vehicles such as commercial vehicle. Medium and Heavy-Duty Trucks (M&HDT) ranging from class 3 – 8, generally uses steel wheels owing to their higher rated weight carrying capacity as opposed to alloy wheels. Alloy wheels are not a good choice where gross vehicle weight rating (GVWR) is above 6 tons. These vehicles still use an Internal Combustion Engine (ICE) as their preferred powertrain. However, with the advancement of battery technology with higher power output and the development of Solid-State Battery (SSB), it is expected that electric powertrain would come into mainstream by the year 2028 for medium and heavy commercial vehicles. Thus, during the forecast period it is expected to offer a huge opportunity for steel wheels market to penetrate into the electric commercial vehicle spectrum.
Due to COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe financial difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. Due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to see an economic slowdown in 2020 and most likely in 2021 also. The entire region is heavily hit by the COVID-19 which has resulted into closure of tech giants and many industrial sectors. This closure has obstructed the company’s investment decision on different software. The region is a major manufacturing and industrial hub for various sectors such as machinery equipment, manufacturing, and logistics. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed decline in activities in above-mentioned industries. Decline in activities of above-mentioned industries has resulted into lesser development of automotive steel wheels and accessories.
Key Market Segments
The Europe automotive steel wheels market is segmented based on rims size, vehicle type, end user and country. Based market is segmented as Rim Size 13-15 Inches, 16-18 Inches, 19-21 Inches, and more than 21 Inches. In 2020, the 16-18 Inch segment held the largest share Europe automotive steel wheels market. Based on vehicle type the automotive steel wheels market is divided into Heavy Commercial Vehicle, Light Commercial Vehicle, and Passenger Vehicle. Passenger Vehicle is expected to the fastest growing segment over the forecast period. On the basis of user the market is segmented into OEM, and Aftermarket. The OEM segment accounts for largest market share in the 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Automotive Steel Wheels Market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Topy Industries limited, Steel Strips Wheels limited, Klassic Wheels Ltd., IOCHPE-MAXION SA, Alcar Holding GMBH, Inc, Accuride Corporation.
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Reasons to buy report
- To understand the Europe Automotive Steel Wheels Market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe Automotive Steel Wheels Market
- Efficiently plan M&A and partnership deals in Europe Automotive Steel Wheels Market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe Automotive Steel Wheels Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
Europe Automotive Steel Wheels Market SEGMENTATION
Europe Automotive Steel Wheels Market – By Rim Size
- 13-15 Inches
- 16-18 Inches
- 19-21 Inches
- More than 21 inches
Europe Automotive Steel Wheels Market – By Vehicle Type
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
Europe Automotive Steel Wheels Market – By End User
- OEM
- Aftermarket
Europe Automotive Steel Wheels Market – By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Automotive Steel Wheels Market -Companies Mentioned
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Alcar Holding GMBH
- Accuride Corporation
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Automotive Steel Wheels Market – By Rim Size
1.3.2 Automotive Steel Wheels Market – By Vehicle Type
1.3.3 Automotive Steel Wheels Market – By End User
1.3.4 Europe Automotive Steel Wheels Market – By Country
2. Europe Automotive Steel Wheels Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Automotive Steel Wheels – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Automotive Steel Wheels Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Lightweight Steel Wheels
5.1 Market Restraints
5.1.1 Increase in Popularity of Alloy Wheels
5.2 Market Opportunities
5.2.1 Acceptance of Steel Wheels in Electric Power Vehicles
5.3 Future Trends
5.3.1 Technological Evolution in Manufacturing of Automotive Wheels
5.4 Impact analysis
6. Automotive Steel Wheels Market – Europe Analysis
6.1 Europe Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
7. Europe Automotive Steel Wheels Market Analysis and Forecast to 2028 – by Rim Size
7.1 Overview
7.2 Europe Automotive Steel Wheels Market, by Rim Size, 2020 & 2028 (% Share)
7.3-15 Inches
7.3.1 Overview
7.3.2-15 Inches: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.4-18 Inches
7.4.1 Overview
7.4.2-18 Inches: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.5-21 Inches
7.5.1 Overview
7.5.2-21 Inches: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.6 More than 21 Inches
7.6.1 Overview
7.6.2 More than 21 Inches: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8. Europe Automotive Steel Wheels Market Analysis and Forecast to 2028 – Vehicle Type
8.1 Overview
8.2 Europe Automotive Steel Wheels Market, by Vehicle Type, 2020 & 2028 (% Share)
8.3 Heavy Commercial Vehicle
8.3.1 Overview
8.3.2 Heavy Commercial Vehicle: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Light Commercial Vehicle
8.4.1 Overview
8.4.2 Light Commercial Vehicle: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Passenger Vehicle
8.5.1 Overview
8.5.2 Passenger Vehicle: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9. Europe Automotive Steel Wheels Market Analysis and Forecast to 2028 – End User
9.1 Overview
9.2 Europe Automotive Steel Wheels Market, by End User, 2020 & 2028 (% Share)
9.3 OEM (Original Equipment Manufacturers)
9.3.1 Overview
9.3.2 OEM: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Aftermarket
9.4.1 Overview
9.4.2 Aftermarket: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
10. Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 Country Analysis
10.1 Europe
10.1.1 Overview
10.1.2 Europe Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.1.3 Germany
10.1.3.1 Germany: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.1.3.2 Germany Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.3.3 Germany Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.3.4 Germany Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.4 UK
10.1.4.1 UK Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.1.4.2 United Kingdom Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.4.3 United Kingdom Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.4.4 United Kingdom Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.5 France
10.1.5.1 France: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.1.5.2 France Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.5.3 France Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.5.4 France Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.6 Russia
10.1.6.1 Russia: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.1.6.2 Russia Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.6.3 Russia Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.6.4 Russia Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.7 Italy
10.1.7.1 Italy: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.1.7.2 Italy Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.7.3 Italy Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.7.4 Italy Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.8 Rest of Europe
10.1.8.1 Rest of Europe: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (USD Million)
10.1.8.2 Rest of Europe Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.8.3 Rest of Europe Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.8.4 Rest of Europe Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
11. Impact Of COVID-19 Pandemic on Europe Automotive Steel Wheels Market
11.1 Europe: Impact Assessment Of COVID-19 Pandemic
12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Product News
12.3 Partnerships & Collaboration
13. Company Profiles
13.1 TOPY INDUSTRIES LIMITED
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 STEEL STRIPS WHEELS LIMITED
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Klassic Wheels Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 IOCHPE-MAXION SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.6 ALCAR HOLDING GMBH
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Accuride Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Germany Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 3. Germany Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 4. Germany Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. United Kingdom Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 6. United Kingdom Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 7. United Kingdom Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 8. France Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 9. France Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 10. France Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 11. Russia Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 12. Russia Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 13. Russia Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 14. Italy Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 15. Italy Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 16. Italy Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 17. Rest of Europe Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 18. Rest of Europe Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 19. Rest of Europe Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 20. Glossary of Terms, Automotive Steel Wheels Market
LIST OF FIGURES
Figure 1. Europe Automotive Steel Wheels Market Segmentation
Figure 2. Europe Automotive Steel Wheels Market – By Country
Figure 3. Europe Automotive Steel Wheels Market Overview
Figure 4.-15 Inch Rim Size Segment Held Largest Share of Europe Automotive Steel Wheels Market in 2020
Figure 5. Automotive Steel Wheels Market in Rest of Europe Region to Show Remarkable Growth During Forecast Period
Figure 6. Europe Automotive Steel Wheels Market, By Country (US$ Million)
Figure 7. Europe: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Automotive Steel Wheels Market Impact Analysis of Driver and Restraints
Figure 11. Europe Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Europe Automotive Steel Wheels Market, By Rim Size, 2020 & 2028 (% Share)
Figure 13.-15 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 14.-18 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 15.-21 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 16. More than 21 Inches: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 17. Europe Automotive Steel Wheels Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 18. Heavy Commercial Vehicle: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Light Commercial Vehicle: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Passenger Vehicle: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. Europe Automotive Steel Wheels Market, By End User, 2020 & 2028 (% Share)
Figure 22. OEM: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Aftermarket: Europe Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. Europe: Automotive Steel Wheels Market, by Key Country – Revenue (2020) (USD Million)
Figure 25. Germany: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 26. UK Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 27. France: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 28. Russia: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 29. Italy: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 30. Rest of Europe: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (USD Million)
Figure 31. Impact of COVID-19 Pandemic in European Country Markets
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Alcar Holding GMBH
- Accuride Corporation
- To understand the Europe Automotive Steel Wheels Market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe Automotive Steel Wheels Market
- Efficiently plan M&A and partnership deals in Europe Automotive Steel Wheels Market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe Automotive Steel Wheels Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.