Magnesium Wheel Market – Global Industry Analysis and Forecast (2024-2030)
Increasing preference for green mobility coupled with stringent regulations promoting lightweight automotive components has been a key driver for the magnesium wheel market globally. According to the California Vehicle Code (CVC), gross weight on any wheel should not surpass 10,500 pounds. For every 100 pounds of vehicle weight reduction, there is an average decrease of about 2% fuel consumption.