Top 5 Vendors in the Alloy Wheels Aftermarket from 2016 to 2020: Technavio Business Wire
The global alloy wheels aftermarket is highly fragmented, complex, as well as competitive due to the presence of a large number of established manufacturers and a number of small- and medium-sized firms. Steel wheels are increasingly getting replaced by alloy wheels, which are light weight and provide improved acceleration. Alloy wheels are fuel efficient, and aftermarket alloy wheels provide the opportunity for customization according to individual preferences.
“The market is also characterized by the presence of well-diversified global as well as regional vendors. However, as global players expand their footprint, regional vendors will find it difficult to compete, especially on aspects such as quality and price. The competitive environment in this market should intensify as more alloy wheels become more popular with the OEMs and the aftermarket suppliers,” says Praveen Kumar, a lead wheels and tires analyst from Technavio.
Increased government regulation on carbon emission will increase the acceptance of alloy wheels both by the OEMs as well as aftermarket suppliers since it provides fuel economy benefits.
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Top five alloy wheels aftermarket vendors
There has been increased demand for aftermarket products and services due to a decrease in the age of FTB consumers and increased aspirations among millennials for external styling. As a result, the demand for the products offered by Enkei Wheels will go up. In recent times, Enkei has become one of the leading players in the aluminum wheel as well as alloy wheel manufacturing market.
Ronal Wheels is a leader in wheel design, material technology, surface treatment, and process technology. For the past 40 years, Ronal Wheels has been manufacturing high-quality OEM components as well as aftermarket products and services. As a result, the firm is well known among OEMs and end-users. The firm is also focusing on meeting the demands for aftermarket products and services and should be able to maintain a strong foothold in the alloy wheels aftermarket.
Momo Wheels constantly focuses on the production of quality and technologically advanced alloy wheels. The company specializes in the production of lightweight alloy wheels specifically for application in racing cars, which provides better acceleration to the racing cars. Momo steering wheels (specifically designed for racing cars) were excessively used in GP2 championship in Europe and Asia. Due to its quality, it is expected that there will be a huge demand for steering alloy wheels for racing cars.
Uniwheels will benefit from the growth in the demand of alloy wheels from European car manufacturers due to its strong presence in the European market. The sales of alloy wheels manufactured by Uniwheels will increase by 8%-12%. Moreover, it is also expected that Uniwheels will benefit from the increase in demand in the aftermarket of alloy wheels due to increased aspiration among consumers for better styling and customization.
BBS Wheels is a pioneer in the manufacturing of forged wheels, which provides a high degree of material density as well as weight reduction. Its forged wheels are in great demand due to its high quality and low weight. To reduce carbon emission of cars due to stringent carbon emission norms, OEMs have to reduce the weight of the wheels. The demand for forged wheels will go up by 8%-12% as BBS Wheels significantly reduces the weight of the vehicles.
The other prominent vendors are:
- Konig wheels
- Lenso Wheels
- MSW wheels
- Rota Wheels
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