Global Automotive Wheel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Automotive Wheel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A wheel is a circular metal frame with spokes or a solid disc mounted on a wheel hub. A vehicle tire is installed on the wheel frame, which is also called as a rim or alloy wheel. These are made from steel, aluminum, magnesium, carbon fiber, or a combination of all these metals.

Market Overview:

The latest research study on the global Automotive Wheel market finds that the global Automotive Wheel market reached a value of USD 21626.0 million in 2022. It’s expected that the market will achieve USD 24938.0 million by 2028, exhibiting a CAGR of 2.4% during the forecast period.

Limitations

Initial investments in the automotive wheel industry are quite expensive. The machinery and equipment used for processing are also quite expensive. On the one hand, downstream customers are mainly distributed in the automotive industry, with a high degree of marketization and fierce competition in the industry. It has higher requirements on the timeliness of product supply, the stability of production scale and product quality. This has led to high capital requirements for car wheel manufacturers in the process of purchasing and building factories, purchasing production and testing equipment, and maintaining the necessary raw material and finished product inventory. On the other hand, the global automotive industry has a high degree of industrial concentration. Original equipment manufacturers and frontline component manufacturers at home and abroad usually have certain bargaining advantages. Their credit periods are relatively long, which has brought considerable liquidity pressure to upstream companies.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are CITIC Dicastal, Iochpe-Maxion, and Ronal with the revenue market share of 11.95%, 6.88% and 6.61% in 2019.

Citic Dicastal Wheel Manufacturing Co. Ltd. manufactures aluminum wheels. The Company develops, produces, and markets aluminum alloy wheels and auto aluminum parts.

Iochpe-Maxion is a global company, a global leader in automotive wheel production, and one of the leading manufacturers of automotive structural parts in the Americas. At Maxion Wheels, it produces and sells a variety of light vehicles, steel wheels for commercial and agricultural machinery, and aluminum wheels for light vehicles.

At Maxion Structural Components, stringers, sleepers and chassis for commercial vehicles and structural assemblies for light vehicles are produced. In addition, through AmstedMaxion (joint business), wheels and railway castings, industrial castings and trucks are produced.

Segmentation Overview:

Among different product types, Alloy segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Passenger Vehicle segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Automotive Wheel market covered in Chapter 3:

Lizong
Ronal
Zhejiang Jinfei Kaida
CLN Group
Enkei
Kosei
Alcoa Wheels (Howmet Aerospace)
BORBET
Iochpe-Maxion
Topy Industries
Fuchs
Zhejiang Wanfeng Auto Wheel
Steel Strips Wheels
CITIC Dicastal
Accuride Corporation
Carbon Revolution
Central Motor Wheel
Superior Industries International

In Chapter 4 and Chapter 14.2, on the basis of types, the Automotive Wheel market from 2018 to 2029 is primarily split into:

Steel
Alloy
Carbon Fibre
Magnesium

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Automotive Wheel market from 2018 to 2029 covers:

Passenger Vehicle
Commercial Vehicle

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)