Automotive Wheel Rims Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Automotive Wheel Rims Market
The automotive wheel rims market size was valued at USD 40.66 billion in 2023, and the market is now projected to grow from USD 43.99 billion in 2024 to USD 91.53 billion by 2032, exhibiting a CAGR of 9.6% during the forecast period of 2024-2032.
There is overwhelming evidence that the COVID-19 pandemic affects the automotive wheel rims market growth. Decreased automotive sales and negative impacts on all transportation operations around the globe, restrained the progress of the automotive wheel rims market in OEM and the aftermarket segments.
The rise in overall motor vehicle production and distribution across the globe is the main factor that has led to the growth of this market. There is expected to be strong sales growth in automobiles as manufacturers have now directed their attention towards the release of EV models which may also contribute to the growing automotive wheel rims market share.
With gasoline prices’ unpredictable increases and drops, auto manufacturers have intensively worked on boosting the ‘miles per gallon’ to capture the market of consumers with limited budgets. That is why seminar and companies are highly oriented on the vector of increasing the fuel economy rating.
Comprehensive Analysis of Automotive Wheel Rims Market
The automotive wheel rims market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by vehicle type, by material, & by sales channel. The vehicle types include: passenger cars, & commercial vehicles. By materials the market can be divided into: alloy, steel, & carbon fiber. By sales channel the market can be fragmented into: OEMs, & Aftermarket.
The Asia Pacific region leads the automotive usage based insurance market by benefitting a market size of USD 6.42 billion in 2023 due to the supportive government regulations in the region.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: MAXION Wheels (U.S.) Steel Strips Wheels Ltd. (India) ESE Carbon (U.S.) Accuride Corporation (U.S.) Superior Industries International, Inc. (U.S.) Ronal Group (Switzerland) Trelleborg AB (Sweden) BORBET GmbH (Germany) Enkei International, Inc. (Japan) Alcoa Wheels (U.S.) CITIC Dicastal Co., Ltd. (China).
In February 2023, Ford announced to provide carbon fiber wheels for its top-of-the-heap models, including GT Supercar, Mustang Shelby GT500, and Mustang Shelby GT350R. The company also stated that it would soon offer carbon fiber wheels in its lower-line performance-oriented models.
Segmentation Table
Global Automotive Wheel Rims Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 9.6% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Vehicle Type, By Material, and By Sales Channel
By Vehicle Type Passenger Cars
Commercial Vehicles
By Material Alloy
Steel
Carbon Fiber
By Sales Channel OEMs
Aftermarket
By Region North America (By Vehicle Type, Material, Sales Channel, and Country)
- U.S. (By Material)
- Canada (By Material)
- Mexico (By Material)
Europe (By Vehicle Type, Material, Sales Channel, and Country)
- U.K. (By Material)
- Germany (By Material)
- France (By Material)
- Rest of Europe (By Material)
Asia Pacific (By Vehicle Type, Material, Sales Channel, and Country)
- China (By Material)
- Japan (By Material)
- India (By Material)
- South Korea (By Material)
- Rest of Asia Pacific (By Material)
Rest of the World (By Vehicle Type, Material, Sales Channel, and Country)
Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
- 4.2. Porter’s Five Forces Analysis
- 4.3. Technological Developments
- 4.4. Impact of COVID-19
- 5. Global Automotive Wheel Rims Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Material Type
- 5.2.1. Alloy
- 5.2.2. Steel
- 5.2.3. Carbon Fiber
- 5.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.3.1. Passenger Cars
- 5.3.2. Commercial Vehicles
- 5.4. Market Analysis, Insights and Forecast – By Sales Channel
- 5.4.1. OEM
- 5.4.2. Aftermarket
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Rest of the World
- 6. North America Automotive Wheel Rims Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Material Type
- 6.2.1. Alloy
- 6.2.2. Steel
- 6.2.3. Carbon Fiber
- 6.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.3.1. Passenger Cars
- 6.3.2. Commercial Vehicles
- 6.4. Market Analysis, Insights and Forecast – By Sales Channel
- 6.4.1. OEM
- 6.4.2. Aftermarket
- 6.5. Market Analysis – By Country
- 6.5.1. U.S.
- 6.5.1.1. By Material Type
- 6.5.2. Canada
- 6.5.2.1. By Material Type
- 6.5.3. Mexico
- 6.5.3.1. By Material Type
- 7. Europe Automotive Wheel Rims Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Material Type
- 7.2.1. Alloy
- 7.2.2. Steel
- 7.2.3. Carbon Fiber
- 7.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.3.1. Passenger Cars
- 7.3.2. Commercial Vehicles
- 7.4. Market Analysis, Insights and Forecast – By Sales Channel
- 7.4.1. OEM
- 7.4.2. Aftermarket
- 7.5. Market Analysis – By Country
- 7.5.1. U.K.
- 7.5.1.1. By Material Type
- 7.5.2. Germany
- 7.5.2.1. By Material Type
- 7.5.3. France
- 7.5.3.1. By Material Type
- 7.5.4. Rest of Europe
- 7.5.4.1. By Material Type
- 8. Asia Pacific Automotive Wheel Rims Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Material Type
- 8.2.1. Alloy
- 8.2.2. Steel
- 8.2.3. Carbon Fiber
- 8.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.3.1. Passenger Cars
- 8.3.2. Commercial Vehicles
- 8.4. Market Analysis, Insights and Forecast – By Sales Channel
- 8.4.1. OEM
- 8.4.2. Aftermarket
- 8.5. Market Analysis – By Country
- 8.5.1. China
- 8.5.1.1. By Material Type
- 8.5.2. Japan
- 8.5.2.1. By Material Type
- 8.5.3. India
- 8.5.3.1. By Material Type
- 8.5.4. South Korea
- 8.5.4.1. By Material Type
- 8.5.5. Rest of Asia Pacific
- 8.5.5.1. By Material Type
- 9. Rest of the World Automotive Wheel Rims Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Material Type
- 9.2.1. Alloy
- 9.2.2. Steel
- 9.2.3. Carbon Fiber
- 9.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.3.1. Passenger Cars
- 9.3.2. Commercial Vehicles
- 9.4. Market Analysis, Insights and Forecast – By Sales Channel
- 9.4.1. OEM
- 9.4.2. Aftermarket
- 10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. MAXION Wheels
- 10.5.1.1. Overview
- 10.5.1.2. Products & Services
- 10.5.1.3. SWOT Analysis
- 10.5.1.4. Recent Developments
- 10.5.1.5. Strategies
- 10.5.1.6. Financials (Based on Availability)
- 10.5.2. Steel Strips Wheels Ltd
- 10.5.2.1. Overview
- 10.5.2.2. Products & Services
- 10.5.2.3. SWOT Analysis
- 10.5.2.4. Recent Developments
- 10.5.2.5. Strategies
- 10.5.2.6. Financials (Based on Availability)
- 10.5.3. ESE Carbon
- 10.5.3.1. Overview
- 10.5.3.2. Products & Services
- 10.5.3.3. SWOT Analysis
- 10.5.3.4. Recent Developments
- 10.5.3.5. Strategies
- 10.5.3.6. Financials (Based on Availability)
- 10.5.4. Accuride Corporation
- 10.5.4.1. Overview
- 10.5.4.2. Products & Services
- 10.5.4.3. SWOT Analysis
- 10.5.4.4. Recent Developments
- 10.5.4.5. Strategies
- 10.5.4.6. Financials (Based on Availability)
- 10.5.5. Superior Industries International, Inc.
- 10.5.5.1. Overview
- 10.5.5.2. Products & Services
- 10.5.5.3. SWOT Analysis
- 10.5.5.4. Recent Developments
- 10.5.5.5. Strategies
- 10.5.5.6. Financials (Based on Availability)
- 10.5.6. Ronal Group
- 10.5.6.1. Overview
- 10.5.6.2. Products & Services
- 10.5.6.3. SWOT Analysis
- 10.5.6.4. Recent Developments
- 10.5.6.5. Strategies
- 10.5.6.6. Financials (Based on Availability)
- 10.5.7. Trelleborg AB
- 10.5.7.1. Overview
- 10.5.7.2. Products & Services
- 10.5.7.3. SWOT Analysis
- 10.5.7.4. Recent Developments
- 10.5.7.5. Strategies
- 10.5.7.6. Financials (Based on Availability)
- 10.5.8. BORBET GmbH
- 10.5.8.1. Overview
- 10.5.8.2. Products & Services
- 10.5.8.3. SWOT Analysis
- 10.5.8.4. Recent Developments
- 10.5.8.5. Strategies
- 10.5.8.6. Financials (Based on Availability)
- 10.5.9. Enkei International, Inc.
- 10.5.9.1. Overview
- 10.5.9.2. Products & Services
- 10.5.9.3. SWOT Analysis
- 10.5.9.4. Recent Developments
- 10.5.9.5. Strategies
- 10.5.9.6. Financials (Based on Availability)
- 10.5.10. Alcoa Wheels
- 10.5.10.1. Overview
- 10.5.10.2. Products & Services
- 10.5.10.3. SWOT Analysis
- 10.5.10.4. Recent Developments
- 10.5.10.5. Strategies
- 10.5.10.6. Financials (Based on Availability)
- 10.5.11. CITIC Dicastal Co., Ltd.
- 10.5.11.1. Overview
- 10.5.11.2. Products & Services
- 10.5.11.3. SWOT Analysis
- 10.5.11.4. Recent Developments
- 10.5.11.5. Strategies
- 10.5.11.6. Financials (Based on Availability)
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook