Date: 2013-07-31

China's automotive wheel industry will maintain a rapid development in the next three to five years

As automobile wheel hubs serve as an important component element of the automobile parts & components industry, the wheel hub industry of China is constantly developing with the growth of the same.

The low retention rate and increasing purchasing power of China make its automotive industry still in the stage of fast popularization. Experts predict that about 50 million automobiles will be produced and sold in China in the future, and the domestic OEM and AM market size in the corresponding wheel industry will be 39 billion yuan and 90 billion yuan respectively. With the continued improvement in the international competitiveness of the wheel enterprises of China, the size of the wheel export market is expected to exceed 13 billion yuan. Benefit from the continued rapid growth in the domestic new car sales, the continuous improvement in the car ownership, and the enhancement of the international competitiveness of wheel enterprises, the wheel industry is expected to realize a market size nearly 60 billion yuan, and continue the rapid development in the next 3 to 5 years.

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