Alloy wheels for two-wheelers are a type of wheel made from an alloy of aluminum or magnesium, and sometimes even both. These alloys are lightweight and offer superior performance over traditional steel wheels. The term 'alloy' refers to a mix of metals or a metal combined with other elements. The aluminum or magnesium alloys used in these wheels are known for their strength and lightweight characteristics, making them ideal for two-wheelers. These wheels are usually cast or forged into design, making them more appealing than regular steel wheels. With their aesthetic appeal and performance-enhancing attributes, they are popular in the modern two-wheeler market.
The Benefit of Using Alloy Wheels for Two Wheelers
Alloy wheels undoubtedly elevate the riding experience by providing numerous perks. One of the key advantages lies in their lightweight nature, which enhances maneuverability and control. With alloy wheels, taking sharp turns or cruising at high speeds feels more effortless and precise. This weight difference also impacts the overall strain on the suspension components, leading to less wear and tear, and ultimately extending the longevity of your two-wheeler. In addition, alloy wheels have a reputation for their strength and durability. They are less prone to cracks or bends when compared to their steel counterparts. This quality makes them a reliable choice for rough terrains and less-than-ideal road conditions, ensuring the rider's safety. Alloy wheels are also acknowledged for their superior heat conduction. They disperse the heat generated from the braking system more efficiently, reducing the chances of brake failure due to overheating. This improved heat dissipation not only enhances the performance of the braking system but also ensures a smoother and safer ride.
Why to Start Manufacturing Business of Alloy Wheel for Two Wheelers?
With the burgeoning popularity and demand for alloy wheels among two-wheeler owners, venturing into the alloy wheel manufacturing business can be a promising opportunity. Given their numerous benefits and increasing appeal, producing alloy wheels can be a lucrative business proposition.
The primary reason to consider this manufacturing business is the rising preference for alloy wheels among bike enthusiasts. Alloy wheels offer enhanced performance, durability, and a distinctive aesthetic that has led to their growing popularity. This surge in demand translates into a potentially sizeable market for alloy wheel manufacturers. Moreover, since the production of alloy wheels involves the use of aluminum, magnesium, or a combination of both, manufacturers can tap into the cost-effectiveness of these materials. These metals are widely available and reasonably priced, contributing to profitable production costs. In addition to serving the two-wheeler market, diversification is also possible. The same manufacturing process can be adapted to produce alloy wheels for other types of vehicles like cars and ATVs, further broadening the market scope. Getting involved in the alloy wheel manufacturing business also contributes to a greener economy. Compared to steel wheels, the production process of alloy wheels leaves a smaller carbon footprint, making the business more environmentally friendly. This aspect can also be a significant selling point in today's eco-conscious market.
Global Market Outlook
The Alloy Wheel Market size was valued at USD 17.6 Billion in 2022 and the total Alloy Wheel Market revenue is expected to grow at a CAGR of 6.2% from 2023 to 2029, reaching nearly USD 28.48 Billion. An alloy wheel is a wheel made from an alloy of aluminium or magnesium. These wheels are popular among car enthusiasts due to their lightweight, strength, and aesthetic appeal. The demand for alloy wheels has been steadily increasing over the years due to several reasons. One major reason is that alloy wheels are lighter than steel wheels, which can improve a vehicle's handling, acceleration, and fuel economy. Additionally, alloy wheels are available in a wide range of styles and designs, allowing car owners to customize their vehicle's appearance. Moreover, alloy wheels are more resistant to corrosion and rust than steel wheels, which can make them a more durable and longer-lasting option. As a result, many car manufacturers are now offering alloy wheels as standard or optional equipment on their vehicles.
The North American region is a dominant player in the global alloy wheels market. It is expected to maintain its position as the market leader in terms of revenue and market share during the forecast period. In 2020, North America accounted for the largest share of the global alloy wheels market, and this trend is expected to continue through 2025. The North American market's dominance is attributed to various factors such as high disposable income, a well-established automotive industry, and a growing demand for premium and high-performance vehicles. The passenger cars segment is expected to hold the largest share of the North American alloy wheels market due to the increasing trend towards customization and personalization of vehicles. Moreover, the demand for premium vehicles with larger wheel sizes is also driving the growth of the North American alloy wheels market. In terms of material type, the aluminum segment is expected to hold the largest share of the North American alloy wheels market.
Conclusion
It’s clear to see why the alloy wheels manufacturing business is a prospective area to venture into. Not only is the demand for two-wheelers on an upward trend, but the preference for alloy wheels amongst two-wheeler owners is also growing. This offers an excellent opportunity for those considering a business in this industry.
Key Players are
· Borbet GmbH
· Enkei Wheels
· Ronal Group
· Momo Wheels
· BBS Kraftfahrzeugtechnik AG
· OZ Group
· TSW Alloy Wheels
· Advan Wheels
· Rays Engineering
· SSR Wheels
· Konig Wheels
· American Racing
· Fikse Wheels
· HRE Performance Wheels
· Vossen Wheels
· Rotiform Wheels
· Forgeline Motorsports
· Weds Wheels
· Work Wheels
· Breyton Wheels