Seattle, May 8, 2019 (Issuewire.com) - The South Africa automotive trailer wheel rims market was valued at US$ 191.7 million in 2017 and is projected to reach US$ 324.2 million by 2026, exhibiting a CAGR of 6.1% over the forecast period, according to South Africa Automotive Trailer Wheel Rims Market Report, by Product Type (Tubeless and Tube-type), by Size (<18 Inches, 18-20 Inches, and >20 Inches), by Material Type (Steel and Alloy), and by Distribution Channel (OEMs and Aftermarket), published by Coherent Market Insights.
Wheel rims are the skeleton structure of the wheels, which are one of the prime components among any wheel module. Automotive trailer wheel rims are larger in size, as they are made to bear high loads, which are required by the transportation sector. Growing road transport sector is resulting in increasing demand for trailers and heavy vehicles such as refrigerated trailers, tankers, and trucks, which is in turn expected to drive the growth of the South Africa automotive trailer wheel rims market in the near future. Moreover, increasing investments in the transportation and logistics sector and increasing heavy vehicle production in the country is also driving the growth of the South Africa automotive trailer wheel rims market.
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Browse 15 market data tables* and 30 figures* on "Automotive Trailer Wheel Rims" - South Africa forecast to 2026.
Key Trends and Takeaways of the South Africa Automotive Trailer Wheel Rims Market:
Among product type, the tube-type segment held a dominant position in the market in 2017 and it is expected to retain its dominance during the forecast period. This is owing to its less cost and easy to fit feature. These type of wheel rims are preferred by automotive truck manufacturers, as they are more cost-effective at the time of automotive production for the manufacturer.
Among material type, steel segment is expected to hold a dominant position in the market, as they are more suitable for heavy duty applications such as construction sites, mining, commercial transport, and manufacturing industries. Alloy segment is expected to be the fastest growing segment in the South Africa automotive trailer wheel rims market during the forecast period, owing to its high strength-to-weight ratio compared to steel, however, steel is considered more strong than alloys and provides more durability for the wheels under harsh environments. Moreover, steel wheel rims are considered as less fuel efficient than alloy wheel rims. As the alloy wheel rims are much lighter in weight than steel rims, they provide greater fuel efficiency and are suitable for long run transportations for saving fuel costs wherever necessary.
Some of the major players operating in the South Africa automotive trailer wheel rims include Arconic, BORBET GmbH, Burquip, Enkei, Globalwheels, JBH Wheels, MAXION Wheels, Stamford Sport Wheels, Titan International Inc., and TSW Alloy Wheels
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