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Automotive Wheel Market 2023 - By Industry Demand, Competitive Landscape, Top Growing Regions, Segmentations And Forecast To 2032
Automotive Wheel Market
Automotive Wheel Market Size, Growth Rate, And Forecast
The global automotive wheel market size grew from $34.5 billion in 2022 to $38.38 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive wheel market size is expected to grow to $49.71 billion in 2027 at a CAGR of 6.7%.
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Automotive Wheel Market Drivers
Growing vehicle production is expected to propel the growth of the automotive wheel market. The wheel is an important component of a car, and its demand is directly related to the automobile industry. The increased production of vehicles year by year will increase the demand for automotive wheels.
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Automotive Wheel Market Segments
• By Material: Steel, Alloy, Carbon Fiber, Other Materials
• By Vehicle Class: Economy, Mid-Priced, Luxury-Priced
• By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
• By Rim Size: 13"-15", 16"-18", 19"-21", Above 21"
• By End-Use: OE, Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Wheel market.
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Automotive Wheel Market Key Players
Major competitors in the Automotive Wheel market include IOCHPE Maxion, Superior Industries International, Accuride Corporation, Steel Strips Wheels, Hitachi Metals, Citic Dicastal.
The Business Research Company's "Global Automotive Wheel Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Wheel Market Include:
1. Executive Summary
2. Automotive Wheel Market Characteristics
3. Automotive Wheel Market Trends And Strategies
4. Automotive Wheel Market - Macro Economic Scenario
5. Automotive Wheel Market Size And Growth
.......................
26. Africa Automotive Wheel Market
27. Automotive Wheel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Wheel Market
29. Automotive Wheel Market Future Outlook and Potential Analysis
30. Appendix
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