The automotive wheel market is projected to grow at a CAGR of 5.52% from 2017 to 2025. The market for automotive wheels is estimated to be USD 32.87 Billion in 2017 and is projected to reach USD 50.54 Billion by 2025.
The key growth drivers of this market are the improved vehicle dynamics with an increase in the use of lightweight materials and growing vehicle production.
The alloy wheel segment is estimated to hold the largest share in the global automotive wheel market. The market growth in this segment can be attributed to the improved vehicle dynamics with lightweight alloy wheels and increased demand for lightweight materials to comply with stringent emission norms.
Carbon fiber and others segment is estimated to be the fastest-growing segment of the automotive wheel market. Rising demand for high-performance vehicle and technological innovations in the material composition are expected to drive the carbon fiber and others wheel market.
By vehicle type, the passenger vehicles segment is estimated to hold the largest share of the automotive wheel market. The majority of mid and premium passenger vehicles, which provide enhanced comfort and convenience, use alloy wheels. Additionally, factors such as the sizeable number of luxury vehicles in Europe and North America and the increasing demand for luxury vehicles in the Asia Pacific region are increasing the demand for automotive wheel market. In the Asia Pacific region, the demand for luxury vehicles is growing due to the increasing purchasing power of consumers and the growing demand for comfort and safety features in a vehicle.
The automotive wheel market for OE segment is estimated to be the largest and fastest growing market during the forecast period. Wheels are designed to last long with the vehicle life. Wheels are replaced or changed in case of accidental damage or by an enthusiast. So, the demand for the wheel is low in the aftermarket as compared to the OE market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technological Overview
7 Automotive Wheel Market, By Off-Highway
8 Automotive Wheel Market for Automotive, By Vehicle Class
9 Automotive Wheel Market, By End Use
10 Automotive Wheel Market, By Vehicle Type
11 Automotive Wheel Market for Automotive, By Material
12 Automotive Wheel Market, By Rim Size & Region
13 Competitive Landscape
14 Company Profiles
- Iochpe-Maxion (Brazil)
- Superior Industries International (US)
- Accuride Corporation (US)
- Steel Strips Wheels (India)
- Hitachi Metals (Japan)
- Enkei (Japan)
- Citic Dicastal (China)
- Zhejiang Wanfeng Auto Wheel (China)
- Borbet (Germany)
- Mangels Industrial (Brazil)
- Mefro Wheels (Germany)
- Alcar (Austria)
- Kalink (South Korea)
- Ronal (Switzerland)
- ThyssenKrupp (Germany)
- Vossen Wheels (US)
- HRE Wheels (US)
- Rays (Japan)
- Weds (Japan)
- Topy Industries (Japan)
