The global aluminum alloy wheel has an average growth rate of 8.48% for 2014-2016

Market research firm ResearchandMarkets analysts predict that the global automotive aluminum alloy wheel industry will grow at a compound annual average growth rate of 8.48% in 2014-2016, and the main factor that contributes to the growth of the automotive aluminum alloy wheel market is the growing demand for automobiles around the world.

Market research firm ResearchandMarkets analysts predict that the global automobile aluminum alloy wheel industry will increase at a compound annual growth rate of 8.48% in 2014-2016. The main factor that contributes to the growth of the automotive aluminum alloy wheel market is the growing demand for automobiles around the world.

In recent years, many large global companies have carried out production outsourcing activities in the Asia Pacific region in order to reduce costs. Many car manufacturers are developing product development in developing countries to make full use of talents and cheap labor. In 2011, several large car manufacturers in Western Europe and North America successively outsourced their production in China. Therefore, compared with the developed economies, the global automotive aluminum alloy wheel industry is developing at a faster rate in the developing economies.

One of the main drivers of the aluminum wheel market growth is the increase in vehicle production and sales.

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