DUBLIN--(BUSINESS WIRE)--The "LAMEA Automotive Carbon Wheels Market Size, Share & Industry Trends Analysis Report By Distribution Channel (OEM and Aftermarket), By Vehicle Type (Passenger Cars, Commercial Vehicles, and Two Wheelers), By Country and Growth Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Latin America, Middle East and Africa Automotive Carbon Wheels Market is expected to witness market growth of 11.2% CAGR during the forecast period (2022-2028).

CFRPs have traditionally been employed in defense, aerospace, defense, and racing applications, but they are now finding the latest applications in the marine, automotive, energy (for example, wind blades), and industrial fields. The most attractive application field for composites is automotive, which has the largest development potential. Several major automakers, like BMW and Mercedes, are considering or have already begun to extend their production of fuel-effective vehicles by employing carbon fibres to reduce weight. These initiatives are expected to propel the CFRP market in the automotive industry to the forefront.

Lightweight wheels are possibly the single most important performance upgrade companies can make to the car. The gyroscopic effect, according to basic physics, necessitates a large amount of effort to shift a spinning item—the heavier the object, the more effort is necessary. Companies can run faster and change directions more precisely with lighter, firmer wheels. Because no wheel is lighter than a CR-9, anyone can precisely place their automobile with less effort and more input.

South Africa is ranked 22nd in the world for automobile manufacture, with a 0.58 percent market share. On the back of enhanced foreign direct investment and trade, the South African automotive industry's growth strategies were concentrated on becoming fully connected into the global automotive environment. The goal of the South African Automotive Masterplan (SAAM) 2021-2035 is for South Africa to generate 1% of worldwide vehicle production, or 1,4 million automobiles per year, by 2035, significantly improving the country's standing and global vehicle production ranking.

As a result, the automotive industry is playing an extremely essential strategic & catalytic part in the South African economy, influencing numerous key policy goals directly, including GDP contribution, skills development, employment, technology, economic linkages, and innovation.

The manufacturing, servicing, distribution, and regular maintenance of motor vehicles and components are all part of the South African automotive sector. Original equipment manufacturers (OEMs), authorized dealers, and repair specialists collaborate closely to provide maintenance and repairs. They focus on ensuring warranty service, environmental protection, driver safety, spare parts accessibility, and technical development information. These determinants are expected to fuel the growth of the regional automotive carbon wheels market over the forecast period.

Scope of the Study

Market Segments Covered in the Report:

By Distribution Channel

  • OEM
  • Aftermarket

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles
  • Two Wheelers

By Country

  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Carbon Revolution Ltd.
  • Thyssenkrupp AG
  • Hitachi Metals, Ltd. (Hitachi, Ltd.)
  • Dymag Group Limited
  • HRE Performance Wheels
  • Litespeed Racing Inc.
  • Rolko Kohlgruber GmbH
  • Ronal Group
  • Rotobox d.o.o.
  • ESE Carbon Company

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. LAMEA Automotive Carbon Wheels Market by Distribution Channel

Chapter 4. LAMEA Automotive Carbon Wheels Market by Vehicle Type

Chapter 5. LAMEA Automotive Carbon Wheels Market by Country

Chapter 6. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/hs556k

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