Global Automotive Wheel Market was worth US$ 1 Billion in 2023 and is expected to grow at a CAGR of 37.25% to an estimated revenue of US$ 9.19 Billion by 2030.
Automotive Wheel Market Report Overview:
The digital era, also known as Industry 4.0, is permeating all sectors of the economy, significantly contributing to their growth. The automotive industry, in particular, is undergoing a transformation that impacts all its sub-industries, including the automotive tire business. Large corporations are no longer just offering simple vehicles or tires; they are leveraging new technology and digitalization to provide complex services tailored to clients’ needs.
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Automotive Wheel Market Report Scope and Research Methodology:
In Europe, 16- and 17-inch wheels are standard on top-selling passenger vehicles, while 18- and 19-inch wheels are more common in the US market. The trend towards premiumization in India presents a significant opportunity for alloy wheel companies and overseas manufacturers, given the current limited competition.
In the United States, the F-150, which has been the best-selling vehicle for 44 consecutive years, offers up to five alloy wheel choices with sizes ranging from 17 to 22 inches. Silver-painted aluminum wheels are favored by other OEMs, with a growing demand for machined aluminum wheels.
In China, due to the popularity of sedans, 14-16-inch silver-painted alloy wheels are more prevalent among the top ten best-selling automobiles. This reflects regional preferences and market trends in wheel sizes and types, highlighting opportunities for manufacturers to tailor their offerings to meet specific market demands.
Automotive Wheel Market Regional Insights:
The research covers a detailed analysis of the market size and dynamics in North America, Canada, Mexico, Europe, Germany, France, Spain, Italy, Rest of Europe, Asia-Pacific, China, India, Japan, Australia, Korea, ASEAN countries, rest of APAC, South America, Brazil, Middle East and Africa.
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Automotive Wheel Market Segmentation:
By Rim Size:
13″-15″: These smaller rim sizes are typically found on compact cars, economy vehicles, and some older models of passenger cars.
16″-18″: Rims in this size range are commonly used on a wide variety of vehicles, including midsize sedans, crossovers, and some light trucks.
By Material:
Alloy: Alloy rims are made from a mixture of metals, usually aluminum or magnesium. They are popular due to their lightweight properties, which improve vehicle handling and fuel efficiency.
Steel: Steel rims are durable, affordable, and resistant to damage, making them a common choice for budget-conscious consumers and commercial vehicles.
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Automotive Wheel Market Key Players:
1. MAXION Wheels (Germany)
2. Borbet GmbH (Germany)
3. Uniwheels (Germany)
4. BBS Kraftfahrzeugtechnik AG. (Germany)
5. Thyssenkrupp AG (Germany)
6. CITIC Dicastal Co., Ltd. (China)
7. Zhejiang Wanfeng Auto Wheel (China)
8. LIZHONG WHEEL GROUP (China)
9. Superior Industries International (US)
10. Accuride Corporation (US)
11. MHT Luxury Wheels (US)
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Key questions answered in the Automotive Wheel Market are:
- What is Automotive Wheel ?
- What are the Automotive Wheel market segments?
- What is the expected Automotive Wheel market size by 2030?
- What is the expected CAGR of the Automotive Wheel market during the forecast period?
- What are the emerging trends in the Automotive Wheel Market?
- What are the factors contributing to the final price of Automotive Wheel ?
- What are the major challenges that the Automotive Wheel Market could face in the future?
- Who held the largest market share in the Automotive Wheel Market?
- Who are the key players in the Automotive Wheel industry?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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