Global Automotive Wheels Market, By Material ; By Vehicle Type (Off-Road and On-Road ); By End-User (OEM and Aftermarkets); By Region ; Trend Analysis, Competitive Market Share & Forecast, 2018-2028

Description

Global Automotive Wheels Market to Reach Worth USD 46,173 Million by 2028

The growth of the automotive wheels market can be primarily attributed to the rising demand for automotive and emergence as well as adoption of new technologies in wheel manufacturing. Moreover, an increment in the demand for electric vehicles due to stringent pollution standards coupled with rising popularity of electric vehicles throughout the world is also expected to propel the growth rate of the global automotive wheel market…

A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the Global Automotive Wheels Market was worth USD 28,763 million in 2021 and is projected to reach USD 46,173 million by the year 2028, growing at a CAGR of 7.2% during the period of 2022-2028. This can be attributed to the rising demand for automotive and the emergence and adoption of new technologies in wheel manufacturing.

Moreover, an increment in the demand for electric vehicles due to stringent pollution standards coupled with the rising popularity of electric vehicles throughout the world is also expected to propel the growth rate of the global automotive wheel market. These factors are driving the growth of the global automotive wheels market during the forecast period 2022-2028.

Rising Demand for Automotives coupled with Emergence and Adoption of New Technologies in Wheel Manufacturing to Bolster Market Growth

The Consumer demand for vehicles has been surging due to factors like increased urbanization and population growth rise in disposable income of middle-class people. This demand, in turn, aggravates the need for automotive wheels. Moreover, the market players are coming up with enhanced technologies in wheel manufacturing, such as the deployment of lightweight materials such as carbon fibers for manufacturing advanced wheels.

Many top automakers, such as BMW and Mercedes, are considering or have already begun to scale up their production of fuel-efficient vehicles by employing carbon fibers to reduce weight. For instance, Mitsubishi Chemical Holdings announced the acquisition of a carbon fiber plant in the United States, SGL Carbon Fibers LLC (SCF), through its subsidiary Mitsubishi Rayon's US branch. These factors are expected to drive the growth of the automotive wheels market during the forecast period.

OEM (Original Equipment Manufacturer) Segment to Grow at a Higher Growth Rate During Forecast Period

The global automotive wheels market is segmented into OEM and aftermarket based on end-user. During the projected period, the global market for the OEM segment is expected to be the larger market, and the aftermarket is predicted to open new market opportunities during the forecast period.

Wheels are made to last as long as the vehicle. As a result, compared to the OEM market, aftermarket demand for the wheel is modest. Many market participants are investing substantially to expand their reach to offer their products to OEMs and establish their manufacturing units near OEM facilities to understand OEM requirements and the regional market better. As a result, they are establishing new manufacturing facilities in the area. For instance: In October 2020, Wheels India Ltd, with an investment of USD 24 million (INR 177 crore), opened a new cast aluminum wheel manufacturing in October 2020.

Impact of COVID-19 on Global Automotive Wheels Market

As a result of the COVID-19 pandemic, the world witnessed one of the worst recessions since WW2. The emergence of the COVID-19 pandemic has brutally impacted the global automotive wheels market. The COVID-19 pandemic significantly influenced every aspect of global vehicle production from sales, raw material availability, and even the export of vehicles in 2020. COVID-19 destabilized the supply networks, from raw material pricing to currency instability. With raw materials becoming more difficult to obtain, commodity price volatility affected the cost of manufacturing, and, as a result, the profitability of the players was also got involved. All this led to an overall decline in the growth of the global automotive wheels market. Nevertheless, with the improving market circumstances in the post covid era, the growth of the Automotive Wheels market is likely to recover during the forecast period.

Asia-Pacific Region to Grow at Highest CAGR in the Global Automotive Wheels Market

In terms of regional analysis, the global automotive wheels market has been classified into North America, Europe, the Asia-Pacific, Latin America and the Middle East and Africa. Amidst the segmentation, the Asia-Pacific region is expected to be the largest growing market in the region during the forecast period. This can be attributed to the rising demand for automobiles due to surging urbanization and growing personal disposable incomes. Moreover, the existence of key automobile OEMs, including Mazda, Honda, Suzuki, Ford, Renault Nissan, Hyundai Kia, Toyota, General Motors, and VW Group, will offer attractive market growth opportunities. Furthermore, the rising demand for enhanced fuel economy in automobiles across the region is also expected to unleash technological innovations in the automotive sector, thus bolstering the growth of the automotive wheels market during the forecast period.

Competitive Landscape

The global automotive wheels market is quite fragmented. The key players operating in the global automotive wheels market are Hitachi Metals, Steel Strips Wheels, American Eagle Wheels, Arconic, CLN Group, Topy IndustriesSensus, BBS Alloy Wheel, BORBET GmbH., CITIC Dicastal Wheel Manufacturing Co., Thyssenkrupp, MAXION Wheels, Foshan Nanhai, Zhongnan Aluminum Wheel Co., Ltd, MHT Luxury Wheels., TSW Wheels and other prominent players. The players maintain their dominance in the market by enhancing their production capabilities, research and development activities, and launching improved products for the customers. Different strategies are adopted, like engaging in strategic alliances, agreements, mergers, and collaborations.

Don't miss the business opportunity of the global automotive wheels market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the global Automotive Wheels market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global automotive wheels market ¬along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the market's growth drivers, challenges, and competitive dynamics.

About Us

Blue Weave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.

Product Code: BWC22148

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Research Methodology

2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation

3. Executive Summary

4. Global Automotive Wheel Market Insights

4.1. Industry Value Chain Analysis
4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
4.3. Technological Advancement/Recent Development
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry

5. Global Automotive Wheel Market Overview

5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.1.2. By Volume (Million Units)
5.2. Market Share & Forecast
- 5.2.1. By Material
  - 5.2.1.1. Carbon Fiber
  - 5.2.1.2. Steel
  - 5.2.1.3. Alloy
  - 5.2.1.4. Others
- 5.2.2. By Vehicle Type
  - 5.2.2.1. Off-Road (Construction and Mining Equipment, Agriculture Tractors etc.)
  - 5.2.2.2. On-Road (Passenger and Commercial Vehicle)
- 5.2.3. By End-User
  - 5.2.3.1. OEM (Original Equipment Manufacturer)
  - 5.2.3.2. Aftermarket
- 5.2.4. By Region
  - 5.2.4.1. North America
  - 5.2.4.2. Europe
  - 5.2.4.3. The Asia Pacific
  - 5.2.4.4. Latin America
  - 5.2.4.5. The Middle East and Africa

6. North America Automotive Wheel Market

6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.1.2. By Volume (Million Units)
6.2. Market Share & Forecast
- 6.2.1. By Material
- 6.2.2. By Vehicle Type
- 6.2.3. By End User
- 6.2.4. By Country
  - 6.2.4.1. United States
  - 6.2.4.2. Canada

7. Europe Automotive Wheel Market

7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.1.2. By Volume (Million Units)
7.2. Market Share & Forecast
- 7.2.1. By Material
- 7.2.2. By Vehicle Type
- 7.2.3. By End User
- 7.2.4. By Country
  - 7.2.4.1. Germany
  - 7.2.4.2. United Kingdom
  - 7.2.4.3. Italy
  - 7.2.4.4. France
  - 7.2.4.5. Spain
  - 7.2.4.6. Rest of Europe

8. The Asia Pacific Automotive Wheel Market

8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.1.2. By Volume (Million Units)
8.2. Market Share & Forecast
- 8.2.1. By Material
- 8.2.2. By Vehicle Type
- 8.2.3. By End User
- 8.2.4. By Country
  - 8.2.4.1. China
  - 8.2.4.2. India
  - 8.2.4.3. Japan
  - 8.2.4.4. South Korea
  - 8.2.4.5. Rest of Asia Pacific

9. Latin America Automotive Wheel Market

9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.1.2. By Volume (Million Units)
9.2. Market Share & Forecast
- 9.2.1. By Material
- 9.2.2. By Vehicle Type
- 9.2.3. By End User
- 9.2.4. By Country
  - 9.2.4.1. Brazil
  - 9.2.4.2. Mexico
  - 9.2.4.3. Rest of Latin America

10. The Middle East & Africa Automotive Wheel Market

10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.1.2. By Volume (Million Units)
10.2. Market Share & Forecast
- 10.2.1. By Material
- 10.2.2. By Vehicle Type
- 10.2.3. By End User
- 10.2.4. By Country
  - 10.2.4.1. Saudi Arabia
  - 10.2.4.2. UAE
  - 10.2.4.3. South Africa
  - 10.2.4.4. Rest of Middle East & Africa

11. Competitive Landscape

11.1. List of Key Players and Their Offerings
11.2. Market Share Analysis, 2021
11.3. Competitive Benchmarking, By Operating Parameters
11.4. Key Strategic Development (Merger, Acquisition, Partnership.)

12. Supplier Analysis

13. Impact of Covid-19 on Global Automotive Wheel Industry

14. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **

14.1. Hitachi Metals
14.2. Steel Strips Wheels
14.3. American Eagle Wheels
14.4. Arconic
14.5. CLN Group
14.6. Topy IndustriesSensus
14.7. BBS Alloy Wheel
14.8. BORBET GmbH.
14.9. CITIC Dicastal Wheel Manufacturing Co.
14.10. Thyssenkrupp
14.11. MAXION Wheels
14.12. Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd
14.13. MHT Luxury Wheels.
14.14. TSW Wheels
14.15. Other prominent players

15. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List Of Figures

Figure 1: Global Automotive Wheels Market Segmentation
Figure 2: Global Automotive Wheels Industry Value Chain Analysis
Figure 3: Global Automotive Wheels Market Size, By Value (USD Million), 2018-2028
Figure 4: Global Automotive Wheels Market Size, By Volume (Million Units), 2018-2028
Figure 5: Global Automotive Wheels Market Share (%), By Material, By Value, 2018-2028
Figure 6: Global Automotive Wheels Market Share (%), By Material, By Volume, 2018-2028
Figure 7: Global Automotive Wheels Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 8: Global Automotive Wheels Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 9: Global Automotive Wheels Market Share (%), By End-User, By Value, 2018-2028
Figure 10: Global Automotive Wheels Market Share (%), By End-User, By Volume, 2018-2028
Figure 11: Global Automotive Wheels Market Share (%), By Region, By Value, 2018-2028
Figure 12: Global Automotive Wheels Market Share (%), By Region, By Volume, 2018-2028
Figure 13: North America Automotive Wheels Market Size, By Value (USD Million), 2018-2028
Figure 14: North America Automotive Wheels Market Size, By Volume (Million Units), 2018-2028
Figure 15: North America Automotive Wheels Market Share (%), By Material, By Value, 2018-2028
Figure 16: North America Automotive Wheels Market Share (%), By Material, By Volume, 2018-2028
Figure 17: North America Automotive Wheels Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 18: North America Automotive Wheels Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 19: North America Automotive Wheels Market Share (%), By End-User, By Value, 2018-2028
Figure 20: North America Automotive Wheels Market Share (%), By End-User, By Volume, 2018-2028
Figure 21: North America Automotive Wheels Market Share (%), By Country, By Value, 2018-2028
Figure 22: North America Automotive Wheels Market Share (%), By Country, By Volume, 2018-2028
Figure 23: Europe Automotive Wheels Market Size, By Value (USD Million), 2018-2028
Figure 24: Europe Automotive Wheels Market Size, By Volume (Million Units), 2018-2028
Figure 25: Europe Automotive Wheels Market Share (%), By Material, By Value, 2018-2028
Figure 26: Europe Automotive Wheels Market Share (%), By Material, By Volume, 2018-2028
Figure 27: Europe Automotive Wheels Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 28: Europe Automotive Wheels Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 29: Europe Automotive Wheels Market Share (%), By End-User, By Value, 2018-2028
Figure 30: Europe Automotive Wheels Market Share (%), By End-User, By Volume, 2018-2028
Figure 31: Europe Automotive Wheels Market Share (%), By Country, By Value, 2018-2028
Figure 32: Europe Automotive Wheels Market Share (%), By Country, By Volume, 2018-2028
Figure 33: The Asia-Pacific Automotive Wheels Market Size, By Value (USD Million), 2018-2028
Figure 34: The Asia-Pacific Automotive Wheels Market Size, By Volume (Million Units), 2018-2028
Figure 35: The Asia-Pacific Automotive Wheels Market Share (%), By Material, By Value, 2018-2028
Figure 36: The Asia-Pacific Automotive Wheels Market Share (%), By Material, By Volume, 2018-2028
Figure 37: The Asia-Pacific Automotive Wheels Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 38: The Asia-Pacific Automotive Wheels Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 39: The Asia-Pacific Automotive Wheels Market Share (%), By End-User, By Value, 2018-2028
Figure 40: The Asia-Pacific Automotive Wheels Market Share (%), By End-User, By Volume, 2018-2028
Figure 41: The Asia-Pacific Automotive Wheels Market Share (%), By Country, By Value, 2018-2028
Figure 42: The Asia-Pacific Automotive Wheels Market Share (%), By Country, By Volume, 2018-2028
Figure 43: Latin America Automotive Wheels Market Size, By Value (USD Million), 2018-2028
Figure 44: Latin America Automotive Wheels Market Size, By Volume (Million Units), 2018-2028
Figure 45: Latin America Automotive Wheels Market Share (%), By Material, By Value, 2018-2028
Figure 46: Latin America Automotive Wheels Market Share (%), By Material, By Volume, 2018-2028
Figure 47: Latin America Automotive Wheels Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 48: Latin America Automotive Wheels Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 49: Latin America Automotive Wheels Market Share (%), By End-User, By Value, 2018-2028
Figure 50: Latin America Automotive Wheels Market Share (%), By End-User, By Volume, 2018-2028
Figure 51: Latin America Automotive Wheels Market Share (%), By Country, By Value, 2018-2028
Figure 52: Latin America Automotive Wheels Market Share (%), By Country, By Volume, 2018-2028
Figure 53: The Middle East & Africa Automotive Wheels Market Size, By Value (USD Million), 2018-2028
Figure 54: The Middle East & Africa Automotive Wheels Market Size, By Volume (Million Units), 2018-2028
Figure 55: The Middle East & Africa Automotive Wheels Market Share (%), By Material, By Value, 2018-2028
Figure 56: The Middle East & Africa Automotive Wheels Market Share (%), By Material, By Volume, 2018-2028
Figure 57: The Middle East & Africa Automotive Wheels Market Share (%), By Vehicle Type, By Value, 2018-2028
Figure 58: The Middle East & Africa Automotive Wheels Market Share (%), By Vehicle Type, By Volume, 2018-2028
Figure 59: The Middle East & Africa Automotive Wheels Market Share (%), By End-User, By Value, 2018-2028
Figure 60: The Middle East & Africa Automotive Wheels Market Share (%), By End-User, By Volume, 2018-2028
Figure 61: The Middle East & Africa Automotive Wheels Market Share (%), By Country, By Value, 2018-2028
Figure 62: The Middle East & Africa Automotive Wheels Market Share (%), By Country, By Volume, 2018-2028
Figure 63: Global Automotive Wheels Market Share Analysis, 2021

List Of Tables

Table 1: Global Automotive Wheels Market Size, By Material, By Value (USD Million), 2018-2028
Table 2: Global Automotive Wheels Market Size, By Material, By Volume (Million Units), 2018-2028
Table 3: Global Automotive Wheels Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 4: Global Automotive Wheels Market Size, By Vehicle Type, By Volume (Million Units), 2018-2028
Table 5: Global Automotive Wheels Market Size, By End-User, By Value (USD Million), 2018-2028
Table 6: Global Automotive Wheels Market Size. By Region, By Value (USD Million), 2018-2028
Table 7: Global Automotive Wheels Market Size. By Region, By Volume (Million Units), 2018-2028
Table 8: North America Automotive Wheels Market Size, By Material, By Value (USD Million), 2018-2028
Table 9: North America Automotive Wheels Market Size, By Material, By Volume (Million Units), 2018-2028
Table 10: North America Automotive Wheels Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 11: North America Automotive Wheels Market Size, By Vehicle Type, By Volume (Million Units), 2018-2028
Table 12: North America Automotive Wheels Market Size, By End-User, By Value (USD Million), 2018-2028
Table 13: North America Automotive Wheels Market Size, By End-User, By Volume (Million Units), 2018-2028
Table 14: 28 North America Automotive Wheels Market Size (USD Million), By Country, By Value 2018-2028
Table 15: North America Automotive Wheels Market Size (Million Units), By Country, By Volume 2018-2028
Table 16: Europe Automotive Wheels Market Size, By Material, By Value (USD Million), 2018-2028
Table 17: Europe Automotive Wheels Market Size, By Material, By Volume (Million Units), 2018-2028
Table 18: Europe Automotive Wheels Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 19: Europe Automotive Wheels Market Size, By Vehicle Type, By Volume (Million Units), 2018-2028
Table 20: Europe Automotive Wheels Market Size, By End-User, By Value (USD Million), 2018-2028
Table 21: Europe Automotive Wheels Market Size, By End-User, By Volume (Million Units), 2018-2028
Table 22: 40 Europe Automotive Wheels Market Size (USD Million), By Country, By Value 2018-2028
Table 23: Europe Automotive Wheels Market Size (Million Units), By Country, By Volume 2018-2028
Table 24: The Asia-Pacific Automotive Wheels Market Size, By Material, By Value (USD Million), 2018-2028
Table 25: The Asia-Pacific Automotive Wheels Market Size, By Material, By Volume (Million Units), 2018-2028
Table 26: The Asia-Pacific Automotive Wheels Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 27: The Asia-Pacific Automotive Wheels Market Size, By Vehicle Type, By Volume (Million Units), 2018-2028
Table 28: The Asia-Pacific Automotive Wheels Market Size, By End-User, By Value (USD Million), 2018-2028
Table 29: The Asia-Pacific Automotive Wheels Market Size, By End-User, By Volume (Million Units), 2018-2028
Table 30: 52 The Asia-Pacific Automotive Wheels Market Size (USD Million), By Country, By Value 2018-2028
Table 31: The Asia-Pacific Automotive Wheels Market Size (Million Units By Country, By Volume 2018-2028
Table 32: Latin America Automotive Wheels Market Size, By Material, By Value (USD Million), 2018-2028
Table 33: Latin America Automotive Wheels Market Size, By Material, By Volume (Million Units), 2018-2028
Table 34: Latin America Automotive Wheels Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 35: Latin America Automotive Wheels Market Size, By Vehicle Type, By Volume (Million Units), 2018-2028
Table 36: Latin America Automotive Wheels Market Size, By End-User, By Value (USD Million), 2018-2028
Table 37: Latin America Automotive Wheels Market Size, By End-User, By Volume (Million Units), 2018-2028
Table 38: Latin America Automotive Wheels Market Size (USD Million), By Country, By Value 2018-2028
Table 39: Latin America Automotive Wheels Market Size (Million Units), By Country, By Volume 2018-2028
Table 40: The Middle East & Africa Automotive Wheels Market Size, By Material, By Value (USD Million), 2018-2028
Table 41: The Middle East & Africa Automotive Wheels Market Size, By Material, By Volume (Million Units), 2018-2028
Table 42: The Middle East & Africa Automotive Wheels Market Size, By Vehicle Type, By Value (USD Million), 2018-2028
Table 43: The Middle East & Africa Automotive Wheels Market Size, By Vehicle Type, By Volume (Million Units), 2018-2028
Table 44: The Middle East & Africa Automotive Wheels Market Size, By End-User, By Value (USD Million), 2018-2028
Table 45: The Middle East & Africa Automotive Wheels Market Size, By End-User, By Volume (Million Units), 2018-2028
Table 46: 76 The Middle East & Africa Automotive Wheels Market Size (USD Million), By Country, By Value 2018-2028
Table 47: The Middle East & Africa Automotive Wheels Market Size (Million Units), By Country, By Volume 2018-2028
Table 48: List of Key Players and Their Offerings
Table 49: Competitive Benchmarking, by Operating Parameters
Table 50 Hitachi Metals Company Overview
Table 51 Hitachi Metals Financial Overview
Table 52 Steel Strips Wheels Company Overview
Table 53 Steel Strips Wheels Financial Overview
Table 54 Arconic Company Overview
Table 55 Arconic Financial Overview
Table 56 CLN Group Company Overview
Table 57 CLN Group Financial Overview
Table 58 BBS Alloy Wheel Company Overview
Table 59 BBS Alloy Wheel Financial Overview
Table 60 CITIC Dicastal Wheel Manufacturing Co. Company Overview
Table 61 CITIC Dicastal Wheel Manufacturing Co. Financial Overview
Table 62 Thyssenkrupp Company Overview
Table 63 Thyssenkrupp Financial Overview
Table 64 MAXION Wheels Company Overview
Table 65 MAXION Wheels Financial Overview
Table 66 Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd Company Overview
Table 67 Foshan Nanhai Zhongnan Aluminum Wheel Co., Ltd Financial Overview
Table 68 MHT Luxury Wheels. Company Overview
Table 69 MHT Luxury Wheels. Financial Overview
Table 70 TSW Wheels Company Overview
Table 71 TSW Wheels Financial Overview