The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

The global market for Automotive Wheel is projected to reach US$40.9 billion by 2025, sustained by stable opportunities in emerging markets as mature markets saturate in terms of sales potential. Automotive sales in developed and developing markets are on the opposite sides of the wave. Emerging markets will emerge as key revenue generating pockets as global production growth transitions from mature markets to emerging markets, a trend that will only intensify further over the long-term. A large chunk of production growth by 2025 will emerge from China, South Asia, Europe, South America, and Middle East and Africa. Although fraught with volatility, there are opportunities to leverage in the dynamically changing automotive market environment. “Innovation” will become the biggest levers for creating value and for remaining profitable in the changing automobile ecosystem. A strategic blend of product development/innovation, high level of technical knowledge, and robust customer support are vital parameters for success in the evolving future of the automotive value chain. As the most important weight bearing structural part of the automobile, the wheel and the wheel base are important components. The wheel is also important as it influences the structural safety of the vehicle when in motion. Over the last 50 years, the standard automotive wheel system remained fairly unchanged given their largely effective design which enabled mobility. However, of late, with increased emphasis laid on efficiency wheel design standards are changing. Given the pressure to innovate in other to survive, wheel manufacturers are heading back to the drawing board to design efficient and safe wheel structure. The engineering focus shed on lightweighting is creating string demand for aluminum alloy wheels which are lightweight, stronger with higher heat resistance index. Read More…