Alloy Wheels Market by Material Type, Type, Rim Size, Vehicle Type, Distribution

List of Tables

[183 Pages Report] The Alloy Wheels Market size was estimated at USD 20.00 billion in 2023 and expected to reach USD 21.09 billion in 2024, at a CAGR 5.76% to reach USD 29.62 billion by 2030.

Alloy wheels are automotive wheels manufactured from a blend of aluminum or magnesium with other elements. This combination results in a lighter, stronger, and more aesthetic wheel than traditional steel wheels. The lighter weight improves vehicle performance by reducing unsprung mass, thus enhancing handling, fuel efficiency, and brake performance. Alloy wheels are also favored for their corrosion resistance and ability to be cast into intricate designs, offering both functional and cosmetic benefits to vehicles. The increasing consumer preference for enhanced aesthetic appeal and vehicle performance has propelled the demand for alloy wheels. In addition, rising automobile sales globally, fueled by burgeoning middle-class populations and an uptick in disposable incomes, further augment market growth. However, the fluctuation in the prices of raw materials, along with the performance limitations of alloy wheels, has significantly hindered the landscape. Moreover, advancements in technology have enabled the production of lightweight alloy wheels, which offer substantial benefits in fuel efficiency and improved handling, attracting greater interest from manufacturers and consumers. The aftermarket segment also contributes significantly to the expansion, driven by vehicle owners seeking to upgrade or customize their vehicles.

KEY MARKET STATISTICS
Base Year [2023]	USD 20.00 billion
Estimated Year [2024]	USD 21.09 billion
Forecast Year [2030]	USD 29.62 billion
CAGR (%)	5.76%

Material Type: Increasing demand for aluminum and magnesium alloy wheels due to their lightweight and high-performance properties

Three primary materials stand out in the production of alloy wheels due to their distinct attributes and benefits. Aluminum alloy, the commonly used material, is prized for its ideal balance of lightweight properties and strength, contributing to improved fuel efficiency and vehicle performance. Magnesium alloy offers an exceptional strength-to-weight ratio and better vibration-damping capabilities, making it suitable for high-performance applications. Moreover, titanium alloy wheels represent the pinnacle of strength and lightweight properties but are seldom used in standard automotive applications due to their expense. Titanium's extraordinary durability and resistance to corrosion make it an excellent choice for specialized or luxury vehicles seeking the ultimate performance and longevity.

Distribution: Extensive availability of alloy wheels on e-commerce and specialty stores offering a wide range of designs, sizes, and finishes

The distribution of alloy wheels is primarily bifurcated into two essential channels, including original equipment manufacturer (OEM) and aftermarket. The OEM channel constitutes the direct supply of alloy wheels to automotive manufacturers to be fitted onto vehicles during manufacturing, ensuring the vehicle's integrity and design unity. This channel emphasizes custom solutions tailored to manufacturer requirements, fostering long-term partnerships between wheel producers and automotive brands. On the other hand, the aftermarket channel serves a diverse clientele, ranging from automobile enthusiasts to vehicle owners seeking upgrades or replacements. This sector thrives on variety, offering a wide range of designs, sizes, and finishes to meet the evolving demands of end consumers. Aftermarket distribution is characterized by its extensive network of specialty stores, e-commerce platforms, and automotive repair shops, providing accessibility and customization options to a broad customer base. The symbiotic relationship between the OEM and aftermarket channels ensures a dynamic and resilient distribution ecosystem for alloy wheels, catering to the mass-production automotive industry and individual consumer needs.

Regional Insights

In the Americas, the United States and Canada represent substantial markets for alloy wheels characterized by a strong preference for personal vehicles and a significant trend toward customization. The rising popularity of electric vehicles (EVs) in the region has also influenced the alloy wheel market, with manufacturers investing in lightweight and aerodynamic designs to enhance battery efficiency. The region's vehicle aesthetics and performance upgrades influence consumer purchasing behavior. On the other hand, in the EMEA region, European countries exhibit a robust demand for alloy wheels, influenced by stringent regulations on CO2 emissions, leading to a shift towards lightweight vehicle components. The high standard of living and the presence of several luxury vehicle manufacturers in Europe further bolster the market for premium alloy wheels. The Middle East, with its affluent consumer base and high temperatures, prefers high-quality, durable alloy wheels that can withstand harsh driving conditions. Moreover, the Asia Pacific region, including key markets such as China, Japan, and India, exhibits a growing demand for alloy wheels, primarily driven by the increasing vehicle production and consumer preference for lightweight and fuel-efficient vehicles. In China, the demand for luxury vehicles and a heightened awareness of aesthetics have significantly contributed to the rise in alloy wheel adoption. Japan, home to some of the major alloy wheel manufacturers, showcases continuous advancements in technology and design. India's market is witnessing a robust increase in the aftermarket sales of alloy wheels, attributed to the rising middle-class population and their growing disposable income.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Alloy Wheels Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Alloy Wheels Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Alloy Wheels Market, highlighting leading vendors and their innovative profiles. These include Accuride Corporation, ALCAR HOLDING GMBH, CITIC Dicastal Wheel Manufacturing Co, Corima, Enkei International, Inc., Foshan Nanhai Zhongnan Aluminium Wheel Co.,Ltd., Fuel Off-Road Wheels, Howmet Aerospace, JR-WHEELS, Lizhong Group, MAXION Wheels, O.Z. S.p.A., PLATI INDIA, Rimstyle Ltd., RONAL GROUP, ShenZhen Zeroracing Auto Parts Co., Ltd., Stamford Sport Wheels., STEEL STRIPS WHEELS LIMITED, Superior Industries International, TOPY INDUSTRIES LIMITED, UNIWHEELSS AG., Volker Schmidt GmbH & Co. KG, Wheel Pros, LLC, ZHEJIANG JINFEI KAIDA WHEEL CO.,LTD., and Zhejiang Wanfeng Auto Wheel Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Alloy Wheels Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material Type
- Aluminum Alloy
- Magnesium Alloy
- Titanium Alloy

Type
- Casting
- Forging

Rim Size
- 12 Inches to 17 Inches
- 18 Inches to 21 Inches
- Above 22 Inches

Vehicle Type
- Commercial Vehicle
- Passenger Vehicle

Distribution
- Aftermarket
- OEM

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Alloy Wheels Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Alloy Wheels Market?

3. What are the technology trends and regulatory frameworks in the Alloy Wheels Market?

4. What is the market share of the leading vendors in the Alloy Wheels Market?

5. Which modes and strategic moves are suitable for entering the Alloy Wheels Market?

Product Code: MRR-61081604A0F8

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increase in production of automobiles and growing ownership of luxury vehicles
  - 5.1.1.2. Expanding demand for electric vehicles (EVs) across the world
- 5.1.2. Restraints
  - 5.1.2.1. Incidences of product recall of alloy wheels
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements to improve the performance and material of alloy wheels
  - 5.1.3.2. Efforts to improve sustainability and environment friendliness of alloy wheels
- 5.1.4. Challenges
  - 5.1.4.1. Performance limitations of alloy wheels
5.2. Market Segmentation Analysis
- 5.2.1. Material Type: Increasing demand for aluminum and magnesium alloy wheels due to their lightweight and high-performance properties
- 5.2.2. Distribution: Extensive availability of alloy wheels on e-commerce and specialty stores offering a wide range of designs, sizes, and finishes
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Alloy Wheels Market, by Material Type

6.1. Introduction
6.2. Aluminum Alloy
6.3. Magnesium Alloy
6.4. Titanium Alloy

7. Alloy Wheels Market, by Type

7.1. Introduction
7.2. Casting
7.3. Forging

8. Alloy Wheels Market, by Rim Size

8.1. Introduction
8.2. 12 Inches to 17 Inches
8.3. 18 Inches to 21 Inches
8.4. Above 22 Inches

9. Alloy Wheels Market, by Vehicle Type

9.1. Introduction
9.2. Commercial Vehicle
9.3. Passenger Vehicle

10. Alloy Wheels Market, by Distribution

10.1. Introduction
10.2. Aftermarket
10.3. OEM

11. Americas Alloy Wheels Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Alloy Wheels Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Alloy Wheels Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Uno Minda Launches New Range Of Alloy Wheels In Indian Aftermarket
- 14.3.2. Dymag and Hankuk Carbon Developing New Carbon Hybrid Wheel Technology for Hyundai N
- 14.3.3. Breck Partners Announces Acquisition of Alloy Wheel Repair Specialists
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio