Middle East & Africa 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
Middle East and Africa automated guided vehicle market is analyzed based countries such as Saudi Arabia, UAE, South Africa, and Rest of Middle East and Africa. The region is expected experience rapid rise in industrialization, which would further boost the growth of a diverse range of industries, including automotive. The Gulf countries are economically advanced, while the African countries are yet to match up to their economic conditions. Factors such as surge in the number of passenger and commercial vehicles on-road,and increasing demand for the integration of automated technologies in vehicles are fueling the automotive steel wheels market growth in the MEA. Increase in vehicle production and elevated disposable income are propelling the demand for automotive steel wheels in this region. Governments of several countries have redirected their focus on the automotive sector, to reduce their dependency on any particular sector. The Government of South Africa launched South African Automotive Masterplan that aims to broaden and deepen the local value chains. However, the COVID-19 pandemic has severely affected the automotive sector in the MEA, resulting in shutting down of various manufacturing facilities in the region. The suppression of the automotive market is, in turn, restraining the growth of the automotive steel wheels market in the region. The manufacturing sector of Middle East is blooming and the government is taking several steps to encourage the manufacturing sector of the region. The rising expansion by international companies is also expected to drive the growth of the market in the coming future.
Among Middle East and Africa countries, Iran has the highest number of COVID-19 confirmed cases, which impacted the economic and growth of industries. Major countries that are facing the economic impact of COVID-19 outbreak include Iran, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. Due to lesser maritime trade and limited business in shipping industry happened in the first quarter of 2020, the trend of unmanned ships and navigation has disturbed slightly. This factor has affected the scope of automotive steel wheels market.
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Market Overview and Dynamics
The Automotive Steel Wheels Market in MEA is expected to grow from US$ 132.71 Million in 2020 to US$ 167.13 Million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021-2028. The manufacturing of vehicles is expected to increase in the coming years with the rising need of personal transportation means, such as cars and SUVs, especially during the ongoing COVID-19 pandemic, as people are more inclined toward buying personal cars to avoid public transport. The automotive manufactures provide a steel wheel as a spare wheel with every unit of vehicle. Factors such as increasing road accidents and surge in road transport are boosting the demand for low-cost wheels. As per the Insurance Institute for Highway Safety – Highway Loss Data Institute, ~33,244 motor vehicle crashes were reported in the US in 2019. Such accidents generate demand for spare components, such as wheels. Thus, the flourishing demand for lightweight steel wheels due to their high performance, and low manufacturing and repair costs is driving the market growth.
Key Market Segments
The MEA 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 MEA 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 MEA 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.
Reasons to buy report
- To understand the MEA 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 MEA Automotive Steel Wheels Market
- Efficiently plan M&A and partnership deals in MEA 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 MEA Automotive Steel Wheels Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.
MEA Automotive Steel Wheels Market SEGMENTATION
MEA Automotive Steel Wheels Market – By Rim Size
- 13-15 Inches
- 16-18 Inches
- 19-21 Inches
- More than 21 inches
MEA Automotive Steel Wheels Market – By Vehicle Type
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
MEA Automotive Steel Wheels Market – By End User
- OEM
- Aftermarket
MEA Automotive Steel Wheels Market – By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
MEA Automotive Steel Wheels Market -Companies Mentioned
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
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 MEA Automotive Steel Wheels Market – By Country
2. MEA Automotive Steel Wheels Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Automotive Steel Wheels – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Middle East & Africa PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Automotive Steel Wheels Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Flourishing Demand for Lightweight Steel Wheels
5.1 Market Restraints
5.1.1 Escalating Popularity of Alloy Wheels
5.2 Market Opportunities
5.2.1 Endorsement of Steel Wheels in Electric Power Vehicles
5.3 Future Trends
5.3.1 Technological progress in Manufacturing of Automotive Wheels
5.4 Impact analysis
6. Automotive Steel Wheels Market – MEA Analysis
6.1 MEA Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
7. MEA Automotive Steel Wheels Market Analysis and Forecast to 2028 – by Rim Size
7.1 Overview
7.2 MEA Automotive Steel Wheels Market, by Rim Size, 2020 & 2028 (% Share)
7.3-15 Inches
7.3.1 Overview
7.3.2-15 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.4-18 Inches
7.4.1 Overview
7.4.2-18 Inches: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.5-21 Inches
7.5.1 Overview
7.5.2-21 Inches: MEA 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: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8. MEA Automotive Steel Wheels Market Analysis and Forecast to 2028 – Vehicle Type
8.1 Overview
8.2 MEA 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: MEA 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: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Passenger Vehicle
8.5.1 Overview
8.5.2 Passenger Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9. MEA Automotive Steel Wheels Market Analysis and Forecast to 2028 – End User
9.1 Overview
9.2 MEA Automotive Steel Wheels Market, by End User, 2020 & 2028 (% Share)
9.3 OEM (Original Equipment Manufacturers)
9.3.1 Overview
9.3.2 OEM: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Aftermarket
9.4.1 Overview
9.4.2 Aftermarket: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
10. MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 Country Analysis
10.1 MEA: Automotive Steel Wheels Market
10.1.1 MEA: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2 MEA: Automotive Steel Wheels Market, By Country
10.1.2.1 South Africa: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 South Africa: Automotive Steel Wheels Market, By Rim Size
10.1.2.1.2 South Africa: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.1.3 South Africa: Automotive Steel Wheels Market, By End User
10.1.2.2 Saudi Arabia: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 Saudi Arabia: Automotive Steel Wheels Market, By Rim Size
10.1.2.2.2 Saudi Arabia: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.2.3 Saudi Arabia: Automotive Steel Wheels Market, By vehicle type
10.1.2.3 UAE: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 UAE: Automotive Steel Wheels Market, By Rim Size
10.1.2.3.2 UAE: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.3.3 UAE: Automotive Steel Wheels Market, By End User
10.1.2.3.4 UAE: Automotive Steel Wheels Market, By Platform
10.1.2.4 Rest of MEA: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.4.1 Rest of MEA: Automotive Steel Wheels Market, By Rim Size
10.1.2.4.2 Rest of MEA: Automotive Steel Wheels Market, By Vehicle Type
11. Impact Of COVID-19 Pandemic on MEA Automotive Steel Wheels Market
11.1 Middle East and Africa: 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
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. South Africa Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 3. South Africa Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 4. South Africa Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. Saudi Arabia Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 6. Saudi Arabia Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 7. Saudi Arabia Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 8. U.A.E. Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 9. U.A.E. Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 10. U.A.E. Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 11. U.A.E. Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of MEA Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 13. Rest of MEA Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 14. Glossary of Terms, Automotive Steel Wheels Market
LIST OF FIGURES
Figure 1. MEA Automotive Steel Wheels Market Segmentation
Figure 2. MEA Automotive Steel Wheels Market – By Country
Figure 3. MEA Automotive Steel Wheels Market Overview
Figure 4.-15 Inch Rim Size Segment Held Largest Share of MEA Automotive Steel Wheels Market in 2020
Figure 5. MEA Automotive Steel Wheels Market in South Africa Region to Show Remarkable Growth During Forecast Period
Figure 6. MEA Automotive Steel Wheels Market, By Country (US$ Million)
Figure 7. Middle East & Africa: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. MEA Automotive Steel Wheels Market Impact Analysis of Driver and Restraints
Figure 11. Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. MEA 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: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 17. MEA Automotive Steel Wheels Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 18. Heavy Commercial Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Light Commercial Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Passenger Vehicle: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. MEA Automotive Steel Wheels Market, By End User, 2020 & 2028 (% Share)
Figure 22. OEM: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Aftermarket: MEA Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. MEA: Automotive Steel Wheels Market Revenue Share, By Country (2020 and 2028)
Figure 25. South Africa: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Saudi Arabia: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. UAE: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of MEA: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Impact Of COVID-19 Pandemic in Middle East and Africa Countries Market
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- To understand the MEA 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 MEA Automotive Steel Wheels Market
- Efficiently plan M&A and partnership deals in MEA 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 MEA Automotive Steel Wheels Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.