Selbyville, Delaware, Aug. 15, 2022 (GLOBE NEWSWIRE) —
The global carbon wheels market size is expected to record a valuation of USD 1,112,800 thousand by 2030, according to the most recent study by Global Market Insights Inc. A positive outlook toward electric vehicles will drive the industry trends.
The rising uptake of luxury bikes and cars across developed nations due to surging disposable incomes will boost the demand for carbon wheels. High scrap rate may emerge as a major restraining factor, cites the report. Optimizing steel scrap rates is very pivotal given their contribution to better environmental health. However, promising product development by major players may help tackle the restraint. Increasing initiatives by key companies and government authorities may also help in eventually reducing product costs.
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Based on vehicle, the report segregates the carbon wheel market into commercial vehicles, premium/luxury vehicles, two-wheelers, and passenger cars. The two-wheelers segment is predicted to observe 38% growth rate till 2030 owing to the mounting focus of several two-wheeler manufacturers on the use of lightweight composites to reduce fuel consumption and vibrations in vehicles.
The aftermarket carbon wheels market is anticipated to reach USD 405,000 thousand through 2030. This growth is attributed to the expansion of e-commerce websites…
