Magnesium Wheel

Global Magnesium Wheel Market is valued at USD 21.78 Billion in 2018 and expected to reach USD 27.12 Billion by 2025 with the CAGR of 3.18% over the forecast period. Increasing demand in race car applications to increase the specific strength and fuel efficiency is expected to drive the growth of Global Magnesium Wheel Market. 
Scope of Magnesium Wheel Market Report:
Magnesium wheel is well known for its superior characteristics that makes it as a best choice specifically for the racing cars. Magnesium wheels are usually applied to the sports racing cars, as they provide a good strength ratio than the aluminum alloys and also enable the exceptional better improvements such as better absorption of vibration, shocks, impacts and noise featuring the long service life. These features have made it applicable to be used for the racing cars to drive the comfort and better fuel economy. Magnesium has the highest strength to weight ratio over other metals, made up of 20 to 25% of Mg which is lighter than aluminum alloys and having the unique capability that makes it to transform the vibrations into heat. 

Global Magnesium Wheel Market report is segmented on the basis of manufacturing, end-use, vehicle and region & country level. Based upon manufacturing, magnesium wheel market is segmented as cast and forged. Based upon end-use, market is classified into OEM and aftermarket. Furthermore, on the basis of vehicle, market is segmented as bikes and premium/ sports cars. 

The regions covered in this Global Magnesium Wheel market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Global Magnesium Wheel market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc. 

Key Players for Global Magnesium Wheel Market Report– Some major key players for global magnesium wheel market are BBS, Enkei, MKW Alloy, SMW Engineering, O.Z. Group, Ferrari, Volkswagen, Mercedes Benz, Dymag Group Limited, Tecnología y Fabricación, S.A., Marvic Wheels, BBI Autosport, Marchesini, Vision Ability Dedication, App Tech, Tan-ei-sya, Milinite, Washi Beam and others. 

Increasing Demand for Vehicle Weight Reduction is Expected to Drive the Growth of Global Magnesium Wheel Market.  The magnesium wheel market is likely to anticipate a high growth owing to the rising demand for more fuel efficient vehicles to reduce the energy consumption and growing demand for light weight vehicles & premium/sports cars. In 2016, global new passenger car and LCV sales was reached of about 20.44 million units during the first quarter of the same period. The premium cars from well-known brand recorded about 9% gain taking their market share to 11.4% in 2016. Magnesium wheels are usually used in the racing car applications to reduce the overall weight of vehicle, as it creates the better strength and weight ratio by the use of magnesium. Furthermore, worldwide leading automakers are focusing on the development of light weight cars and limiting the amount of exhaust emissions due to the government legalization. 

These factors are also fostering the growth of magnesium wheel market in response to the growing initiatives of government regarding its fuel economy and vehicle weight. However, magnesium wheel is relatively expensive, as it is around more than 20% than the price of aluminum. This can become the major hurdle in the growth of this market. In spite of that, excellent mechanical properties with a combination of new innovative machining technologies will collectively offer the most promising opportunities in the coming years. 

Geographically, this report split global into several key Regions, revenue (Million USD) The geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) focusing on key countries in each region. It also covers market drivers, restraints, opportunities, challenges, and key issues in Global Magnesium Wheel Market. 

Key Benefits for Magnesium Wheel Market Reports 
• Global market report covers in-depth historical and forecast analysis.
• Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• Global market report helps to identify opportunities in market place.
• Global market report covers extensive analysis of emerging trends and competitive landscape.

Global Magnesium Wheel Market Segmentation:–
By Manufacturing:
•	Cast 
•	Forged

By End-Use:
•	OEM 
•	Aftermarket 

By vehicle :
•	Bikes 
•	Premium/ sports cars 

By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o France
o Germany
o Russia
o Rest of Europe
• Asia-Pacific
o China
o South Korea
o India
o Japan
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa

Europe is Expected to Dominate the Global Magnesium Wheel Market. Europe is estimated to dominate the global magnesium wheel market during the forecast period. European automotive sector has constantly shown the exceptional growth momentum from the last few years supported by large investments in R&D by the leading key players in this region. Additionally, Germany is the leading hub of world’s premium cars produces and sale it throughout the worldwide with more than 70% are German OEM manufactured, as a result of this, European automakers and customers have exposed to the huge interest in adoption of magnesium wheels in their vehicles. Europe is accounted for the largest automotive market, with more than 5.6 million passenger cars and 315,750 light commercial vehicles were produced in 2017. Moreover, North American automakers are willing to determine the technical feasibility in terms of vehicle weight reduction which is likely to grow the magnesium wheel market. 

Magnesium Wheel Market Key Players:
• BBS
• Enkei
• MKW Alloy
• SMW Engineering
• O.Z. Group
• Ferrari
• Volkswagen
• Mercedes Benz
• Dymag Group Limited
• Tecnología y Fabricación, S.A.
• Others

This comprehensive report will provide:

• Enhance your strategic decision making
• Assist with your research, presentations and business plans
• Show which emerging market opportunities to focus on
• Increase your industry knowledge
• Keep you up-to-date with crucial market developments
• Allow you to develop informed growth strategies
• Build your technical insight
• Illustrate trends to exploit
• Strengthen your analysis of competitors
• Provide risk analysis, helping you avoid the pitfalls other companies could make
• Ultimately, help you to maximize profitability for your company.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2017?
• How will each segment grow over the forecast period and how much revenue will these segment account for in 2025?
• Which region has more opportunities?

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