North America 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 North America automotive steel wheels market has been analyzed on the basis of three major countries — the US, Canada, and Mexico. The US is estimated to hold the largest share in the automotive steel wheels market during the forecast period. The projected growth of the automotive steel wheels market in the US is attributed to the established market players, increase in productivity, significant cost saving in overall operation. is anticipated to fuel growth of the market during the forecast period. Thus, the Increase in Demand for Lightweight Steel Wheels is expected to create a significant demand for automotive steel wheels in the coming years, which is further anticipated to drive the automotive steel wheels market.
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Market Overview and Dynamics
The Automotive Steel Wheels Market in North America is expected to grow from US$ 1902.51 Million in 2020 to US$ 2528.60 Million by 2028; it is estimated to grow at a CAGR of 4.3% from 2021-2028. Technological Advancements in Manufacturing of Automotive Wheels. The automotive market leaders are constantly involved in R&D activities to devise the latest and highest production techniques as well as to explore the strongest but lightest-weight material options that can be to use into the wheel production processes. However, the shifting of customer preference toward the alloy and aluminum wheels in among the trends in the coming period. The alloy wheels have gained a remarkable popularity among the high-end cars. For instance, some of the automobile giants such as Koenigsegg Automotive AB uses its full carbonfibre wheels on the Regera car. Jaguar is using high-quality steel wheels to achieve the low-drag E-Type vehicles. The market trend in the North America markets is expected to adopt the alternative options for the steel wheels.
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, presence of huge technological companies, and high adoption of automation in various industries especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. This led the governments to impose lockdowns to limit human movement, thereby leading the manufacturing facilities to experience lower than usual production volumes. The US is one of the largest markets for developing autonomous technologies and integrating it into machines to make them automated. In addition, testing of autonomous technologies is also high in the region, however due to COVID, this has declined. Similarly, many industries faced challenges during the pandemic situation. Due to lockdown, the production volume decreases for many sectors. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the automotive steel wheels market growth of North America region in a negative manner for the next few quarters.
Key Market Segments
The North America 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 North America 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 North America 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, Fastco Canada, Central Motor Wheel of America, Inc, Accuride Corporation.
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Reasons to buy report
- To understand the North America 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 North America Automotive Steel Wheels Market
- Efficiently plan M&A and partnership deals in North America 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 North America Automotive Steel Wheels Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Automotive Steel Wheels Market SEGMENTATION
North America Automotive Steel Wheels Market – By Rim Size
- 13-15 Inches
- 16-18 Inches
- 19-21 Inches
- More than 21 inches
North America Automotive Steel Wheels Market – By Vehicle Type
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
North America Automotive Steel Wheels Market – By End User
- OEM
- Aftermarket
North America Automotive Steel Wheels Market – By Country
- US
- Canada
- Mexico
North America Automotive Steel Wheels Market -Companies Mentioned
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Fastco Canada
- Central Motor Wheel of America, Inc
- 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 North America Automotive Steel Wheels Market – By Rim Size
1.3.2 North America Automotive Steel Wheels Market – By Vehicle Type
1.3.3 North America Automotive Steel Wheels Market – By End User
1.3.4 North America Automotive Steel Wheels Market – By Country
2. North America Automotive Steel Wheels Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Automotive Steel Wheels – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Automotive Steel Wheels Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Demand for Lightweight Steel Wheels
5.1 Market Restraints
5.1.1 Rising Popularity of Alloy Wheels
5.2 Market Opportunities
5.2.1 Adoption of Steel Wheels in Electric Power Vehicles
5.3 Future Trends
5.3.1 Technological Advancements in Manufacturing of Automotive Wheels
5.4 Impact analysis
6. Automotive Steel Wheels Market – North America Analysis
6.1 North America Automotive Steel Wheels Market Overview
6.2 Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning
7. North America Automotive Steel Wheels Market Analysis and Forecast to 2028 – by Rim Size
7.1 Overview
7.2 Automotive Steel Wheels Market, by Rim Size, 2020 & 2028 (% Share)
7.3-15 Inches
7.3.1 Overview
7.3.2-15 Inches: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.4-18 Inches
7.4.1 Overview
7.4.2-18 Inches: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.5-21 Inches
7.5.1 Overview
7.5.2-21 Inches: North America 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: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8. North America Automotive Steel Wheels Market Analysis and Forecast to 2028 – Vehicle Type
8.1 Overview
8.2 North America 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: North America 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: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Passenger Vehicle
8.5.1 Overview
8.5.2 Passenger Vehicle: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9. North America Automotive Steel Wheels Market Analysis and Forecast to 2028 – End User
9.1 Overview
9.2 North America Automotive Steel Wheels Market, by End User, 2020 & 2028 (% Share)
9.3 OEM (Original Equipment Manufacturers)
9.3.1 Overview
9.3.2 OEM: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Aftermarket
9.4.1 Overview
9.4.2 Aftermarket: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
10. North America Automotive Steel Wheels Market Revenue and Forecast to 2028 Country Analysis
10.1 North America Automotive Steel Wheels Market, Revenue and Forecast to 2028
10.1.1 Overview
10.1.2 North America Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.3 North America Automotive Steel Wheels Market, Revenue and Forecast 2020-2028, By Country (%)
10.1.3.1 United States - Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.3.2 United States: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.3.3 United States: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.3.4 United States: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.4 Canada - Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.4.1 Canada: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.4.2 Canada: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.4.3 Canada: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.4.4 Canada: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.5 Mexico - Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.5.1 Mexico: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.5.2 Mexico: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.5.3 Mexico: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.5.4 Mexico: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
11. Impact Of COVID-19 Pandemic on North America Automotive Steel Wheels Market
11.1 North America: 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
13.5 Fastco Canada
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Central Motor Wheel of America, Inc.
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
13.8 Accuride Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 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. United States: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 3. United States: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 4. United States: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. Canada: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 6. Canada: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 7. Canada: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 8. Mexico: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 9. Mexico: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 10. Mexico: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 11. Glossary of Terms, Automotive Steel Wheels Market
LIST OF FIGURES
Figure 1. North America Automotive Steel Wheels Market Segmentation
Figure 2. North America Automotive Steel Wheels Market – By Country
Figure 3. North America Automotive Steel Wheels Market Overview
Figure 4.-18 Inch Rim Size Segment Held Largest Share of North America Automotive Steel Wheels Market in 2020
Figure 5. North America Automotive Steel Wheels Market in MEA Region to Show Remarkable Growth During Forecast Period
Figure 6. North America Automotive Steel Wheels Market, By Country (US$ Million)
Figure 7. North America Pest Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Automotive Steel Wheels Market Impact Analysis of Driver and Restraints
Figure 11. North America Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. North America 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: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 17. North America Automotive Steel Wheels Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 18. Heavy Commercial Vehicle: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Light Commercial Vehicle: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Passenger Vehicle: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. North America Automotive Steel Wheels Market, By End User, 2020 & 2028 (% Share)
Figure 22. OEM: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Aftermarket: North America Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. North America Automotive Steel Wheels Market, Revenue and Forecast To 2020-2028, By Country (%)
Figure 25. US Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 26. Canada: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 27. Mexico: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 28. Impact Of COVID-19 Pandemic in North American Country Markets
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Fastco Canada
- Central Motor Wheel of America, Inc
- Accuride Corporation
- To understand the North America 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 North America Automotive Steel Wheels Market
- Efficiently plan M&A and partnership deals in North America 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 North America Automotive Steel Wheels Market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.