The Automotive Steel Wheels Market in SAM is expected to grow from US$ 196.30 Million in 2020 to US$ 249.51 Million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021-2028.
The Brazil, Argentina are major economies in SAM. The Surge in Demand for Lightweight Steel Wheels recently gained momentum after weak growth over the past few years. Automobile wheels are made from materials such as steel, aluminum, magnesium, carbon fiber, and other metal combinations. Parameters such as of size, weight, material, and designs contribute significantly to wheel performance. Wheel weight has a vital role in the movement and performance of cars, trucks, buses, and bikes, among others. Lower the weight of the wheel lesser the overall weight of vehicles, and this helps improve fuel consumption. Owing to the properties of steel, which is easy to manufacture, durability, and easy repairability has preference by the customers using hardcore sport utility vehicles SUVs, city cars and heavy goods vehicle (HMVs). Due to the heavy loads and rough tracks the wheels of the vehicles are expected to damaged. The steel wheels are easier to repair and replace than wheels made from alloys and aluminum; moreover, the repair costs of the former ones are lower than the other types. The production cost of steels wheels is 70–80% lower than the cost of production of alloy wheels. Therefore, steel wheels are being used in many of the economy cars worldwide.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive Automotive Steel Wheels Market. The SAM Automotive Steel Wheels Market is expected to grow at a good CAGR during the forecast period.
These regions are of low cost; therefore, they face the most significant challenge due to the coronavirus pandemic. Due to COVID-19, many South and Central American countries have restricted traveling, which has significantly affected several industries. As per the Brazil automaker’s association, it is anticipated that the sales of automotive will recover to pre-COVID levels by 2025. Also, several automakers in the country have witnessed a sharp decline in their production capabilities. According to Anfavea, the automakers association, the automotive production is expected to witness a fall of 45% in 2020 as compared to 2019. Also, the auto exports are expected to saw a decline of 53% for the same duration. Moreover, recently, Ford Motors announced to close its three production facilities and will stop manufacturing operations in SAM region .
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SAM Automotive Steel Wheels Market Segmentation
SAM Automotive Steel Wheels Market
– By Rim Size
- 13-15 Inches
- 16-18 Inches
- 19-21 Inches
- More than 21 inches
SAM Automotive Steel Wheels Market
–By Vehicle Type
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
SAM Automotive Steel Wheels Market – By End User
- OEM
- Aftermarket
SAM Automotive Steel Wheels Market – By Country
- Brazil
- Argentina
- Rest of SAM
SAM Automotive Steel Wheels Market -Companies Mentioned
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- MANGLES
- IOCHPE-MAXION SA
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Rim Size, Vehicle Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Brazil, Argentina
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM Automotive Steel Wheels Market – By Rim Size
1.3.2 SAM Automotive Steel Wheels Market – By Vehicle Type
1.3.3 SAM Automotive Steel Wheels Market – By End User
1.3.4 SAM Automotive Steel Wheels Market – By Country
2. SAM Automotive Steel Wheels Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Automotive Steel Wheels – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SAM Automotive Steel Wheels Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Surge in Demand for Lightweight Steel Wheels
5.1 Market Restraints
5.1.1 Flourishing 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 Elevation in Manufacturing of Automotive Wheels
5.4 Impact analysis
6. Automotive Steel Wheels Market – SAM Analysis
6.1 SAM Automotive Steel Wheels Market Overview
6.2 SAM Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
7. SAM Automotive Steel Wheels Market Analysis and Forecast to 2028 – by Rim Size
7.1 Overview
7.2 SAM Automotive Steel Wheels Market, by Rim Size, 2020 & 2028 (% Share)
7.3-15 Inches
7.3.1 Overview
7.3.2-15 Inches: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.4-18 Inches
7.4.1 Overview
7.4.2-18 Inches: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.5-21 Inches
7.5.1 Overview
7.5.2-21 Inches: SAM 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: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8. SAM Automotive Steel Wheels Market Analysis and Forecast to 2028 – Vehicle Type
8.1 Overview
8.2 SAM 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: SAM 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: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Passenger Vehicle
8.5.1 Overview
8.5.2 Passenger Vehicle: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9. SAM Automotive Steel Wheels Market Analysis and Forecast to 2028 – End User
9.1 Overview
9.2 SAM Automotive Steel Wheels Market, by End User, 2020 & 2028 (% Share)
9.3 OEM (Original Equipment Manufacturers)
9.3.1 Overview
9.3.2 OEM: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Aftermarket
9.4.1 Overview
9.4.2 Aftermarket: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
10. SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 Country Analysis
10.1 South America: Automotive Steel Wheels Market
10.1.1 South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2 South and Central America: Automotive Steel Wheels Market, By Country
10.1.2.1 Brazil: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 Brazil: Automotive Steel Wheels Market, By Rim Size
10.1.2.1.2 Brazil: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.1.3 Brazil: Automotive Steel Wheels Market, By End-User
10.1.2.2 Argentina: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 Argentina: Automotive Steel Wheels Market, By Rim Size
10.1.2.2.2 Argentina: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.2.3 Argentina: Automotive Steel Wheels Market, By End-User
10.1.2.3 Rest of South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 Rest of South and Central America: Automotive Steel Wheels Market, By Rim Size
10.1.2.3.2 Rest of South and Central America: Automotive Steel Wheels Market, By Vehicle Type
10.1.2.3.3 Rest of South and Central America: Automotive Steel Wheels Market, By End-User
11. Impact Of COVID-19 Pandemic on SAM Automotive Steel Wheels Market
11.1 South 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 MANGELS
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 Klassic Wheels Ltd.
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 IOCHPE-MAXION SA
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
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. Brazil: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 3. Brazil: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 4. Brazil: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 5. Argentina: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 6. Argentina: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 7. Argentina: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 8. Rest of South and Central America: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 9. Rest of South and Central America: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 10. Rest of South and Central America: 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. SAM Automotive Steel Wheels Market Segmentation
Figure 2. SAM Automotive Steel Wheels Market – By Country
Figure 3. SAM Automotive Steel Wheels Market Overview
Figure 4.-15 Inch Rim Size Segment Held Largest Share of SAM Automotive Steel Wheels Market in 2020
Figure 5. Automotive Steel Wheels Market in Brazil to Show Remarkable Growth During Forecast Period
Figure 6. SAM Automotive Steel Wheels Market, By Country (US$ Million)
Figure 7. South America: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. SAM Automotive Steel Wheels Market Impact Analysis of Driver and Restraints
Figure 11. SAM Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. SAM 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: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 17. SAM Automotive Steel Wheels Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 18. Heavy Commercial Vehicle: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19. Light Commercial Vehicle: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20. Passenger Vehicle: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. SAM Automotive Steel Wheels Market, By End User, 2020 & 2028 (% Share)
Figure 22. OEM: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Aftermarket: SAM Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. South and Central America: Automotive Steel Wheels Market Revenue Share, By Country (2020 and 2028)
Figure 25. Brazil: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Argentina: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Impact Of COVID-19 Pandemic in South America Countries Market
- Topy Industries limited
- Steel Strips Wheels limited
- Klassic Wheels Ltd.
- MANGLES
- IOCHPE-MAXION SA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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