USD 100.99 Million Potential Difference in Alloy Wheels The "Alloy Wheels Aftermarket by Application (passenger vehicles and commercial vehicles) and Geographic (APAC, Europe, North America, South America, and MEA) - Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.To get more news about Forged wheels, you can visit nnxwheels.com official website. The potential growth difference for the alloy wheels aftermarket between 2020 and 2025 is USD 100.99 million with an accelerating growth momentum at a CAGR of 0.73%. The analysts at Technavio have categorized the global alloy wheels aftermarket as a part of the global automotive components and accessories market. The alloy wheel's aftermarket growth is likely to be driven by factors including the aging vehicle fleet and the emerging popularity of carbon fiber alloy wheels. However, an increase in OEM fitment is one of the key challenges hindering the alloy wheel's aftermarket growth. The alloy wheels aftermarket report is segmented by Application (passenger vehicles and commercial vehicles) and Geographic (APAC, Europe, North America, South America, and MEA). Regional Analysis: 61% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for alloy wheels aftermarket in APAC. Market growth in this region will be slower than the growth of the market in MEA regions. The improved and stabilized socio-economic conditions in APAC countries, especially China and India, are contributing to the growth of the automotive industry in the region over the forecast period. Revenue-generating Segment Insights: The passenger car application segment held the largest alloy wheels aftermarket share in 2020. The segment will continue to account for the highest revenue during the forecast period. The segment's growth is anticipated to be primarily driven by the growing demand for SUV alloy wheels across the world. Competitive Landscape The alloy wheels aftermarket is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market. To make the most of the opportunities and recover from the post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The alloy wheels aftermarket forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.