Vendors to leverage digitization for strengthening their foothold in the global market.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global aftermarket for alloy wheels in their latest research report. This report also lists four other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts considers the bottom-up approach where the number of vehicles not having OEM fitted alloy wheels have been taken into account. In addition, individuals opting for replacement of OEM fitted alloy wheels is also considered.
This Technavio report, under the wheels and tires vertical, is based on the synthesis, analysis, and interpretation of information about the global aftermarket for alloy wheels collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global alloy wheels aftermarket is highly fragmented, complex, and competitive in nature due to the presence of a large number of established manufacturers and a number of small- and medium-sized firms. The market is also characterized by the presence of well-diversified global as well as regional vendors. However, competition between global and regional players is minimal. Steel wheels are being replaced by alloy wheels as they are lightweight and can improve the acceleration. Alloy wheels are also fuel efficient, and aftermarket alloy wheels provide the opportunity for customization according to individual preferences. The competition in the market is expected to intensify as more alloy wheels become more popular among OEMs and the aftermarket suppliers.
“There is has been a noticeable growth in the online sales of automotive components and accessories over the years. The online sales channel is propelling the aftermarket automotive components and accessories. Digitization is one of the key drivers for the exponential growth of the online sales channel. The increasing use of social media, growing mobile technology, and increase in internet penetration act as an incentive for the growth of the online sales channel,” says a lead analyst at Technavio for research on wheels and tires.
Top five vendors in the alloy wheel aftermarket
Enkei Wheels
Enkei Wheels is a manufacturer of high-quality alloy wheels suitable for most applications. The company also provides high-quality wheels to top racers and car enthusiasts. The company is a pioneer in the areas of wheel design and composite alloy technology such as forged and casting process. Enkei Wheels supplies products and services to all leading Japanese car manufacturers. It has a high consumer base in the automotive aftermarket.
Key products: PF07 (18 inches), PF01 EVO (17-18 inches), PF01 (15-18 inches), NT03+M (17-18 inches), and GTC01 (17-19 inches).
Ronal Wheels
Ronal Wheels is an alloy wheel designer and manufacturer based out of Europe and has a strong foothold in the alloy wheels aftermarket. The company produces wheels for the commercial segment as well as for the passenger cars. It is an integrated producer of the cast and forged wheels. During 2013, Ronal Wheels launched the innovative carbon revolution carbon wheel in the European aftermarket.
Key products: R53 (14–17 inches), R54 MCR (15–18 inch), LSX (16 inches), R55 SUV (17–20 inch), and R60-blue (16 inches).
Momo Wheels
Momo Wheels is a manufacturer of light alloy wheels. The company also engages in the production of advanced racing products with enhanced safety features. Momo Wheels seeks to continually innovate new products and has evolved its products in terms of quality, design, and flexibility. Momo Wheels has a large consumer base across 60 countries mainly through various distributors and dealers under the brand name Momo and Momo Corse.
Key products: Rush Matt Black (20 inches), Quantum Anthracite (20 inches), Hyper Star Matte Black (17–18 inch), Sentry Hyper Silver (18–20 inch), and Next Matt Anthracite (17–18 inch).
Uniwheels
Uniwheels is a manufacturer and supplier of alloy wheels to the automotive industry. The company has four well-known brands namely ATS, Rial, Alutec, and Anzio that cover different customer groups, from the premium to the economy segment of consumers. Uniwheels has a strong and established relationship with automobile manufacturers including Audi, BMW, Jaguar–Land Rover, and Volvo.
Key products: Antares (15–18 inch), Perfektion (19–inch), Torino (16,18 inch), Catina (16–19 inch), Alutec Brand Wheels, and Signa (15–17 inch).
BBS Wheels
BBS Wheels is one of the global leaders in wheel manufacturing and engineering technology. The technology of BSS alloy wheels is based on motor racing car wheels. The company is a leading manufacturer of light alloy wheels and produces high-quality cast wheels exclusively in Germany. Vendors such as BMW Motorsport, Dinan Engineering, Bilstein, KW Suspension, and Pacific BMW use BBS wheels. BBS Wheels has well diversified its business across different countries. But the majority of the sales are from Germany, USA, UK, and, Japan.
Key products: FI-R (19–20 inch), FI (19–20 inch), Super RS (19–20 inch), CH-R II (20–21 inch), and LM (17–20 inch).
Other prominent vendors in this market include Konig Wheels, Lenso Wheels, MSW Wheels, and Rota Wheels.
A more detailed analysis is available in the Technavio report, Global Aftermarket for Alloy Wheels 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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