Automotive Wheel Market to Reach Nearly $63.21 Bn by 2030, Growing at 5.9% CAGR

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐨𝐫 𝐃𝐞𝐜𝐫𝐞𝐚𝐬𝐞 𝐟𝐨𝐫 𝐰𝐡𝐚𝐭 𝐜𝐨𝐧𝐭𝐚𝐢𝐧𝐬 :

The automotive wheel market is experiencing steady growth, driven by increasing vehicle production and the rising demand for lightweight, fuel-efficient vehicles. Advances in materials, such as the use of aluminum alloys and carbon fiber, are contributing to this growth by reducing the weight of wheels and enhancing vehicle performance. Additionally, the growing popularity of electric vehicles (EVs) and premium vehicles is boosting demand for high-performance and aesthetically appealing wheels. However, challenges such as fluctuating raw material prices and the impact of economic uncertainties on vehicle sales can influence market dynamics. Overall, the market outlook remains positive, with innovations and consumer preferences shaping its future.

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐀𝐆𝐑 𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐢𝐨𝐧:

Automotive Wheel Market was valued at US$ 42.31 Bn. in 2023 and the total Automotive Wheel revenue is expected to grow at 5.9% from 2024 to 2030, reaching nearly US$ 63.21 Bn.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐛𝐲 𝐜𝐥𝐢𝐜𝐤𝐢𝐧𝐠 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝:https://www.maximizemarketresearch.com/request-sample/11013/

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐛𝐲 𝐑𝐢𝐦 𝐒𝐢𝐳𝐞

13"-15"
16"-18"
19"-21"
Above 21"

𝐛𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥

Alloy
Steel
Aluminum
Carbon Fiber
Other

Over the course of the projection period, the alloy segment is anticipated to increase at a CAGR of 4.8%. Alloy wheels are sometimes purchased for aesthetic reasons (visible repairs), despite the fact that the poorer alloys are usually not resistant to corrosion. Adopting attractive bare-metal finishes-which need to be protected with paint or wheel covers-is made possible by alloys. The wheels in use may rust after three to five years even if they are adequately covered, although refurbishing is now commonly accessible at a cost. If appropriate safety procedures are not taken, alloy wheels' propensity for galvanic corrosion may result in tire air leakage. Additionally, alloy wheels are more difficult to repair when bent than steel wheels, but overall, repairs are less expensive than replacements due to their higher price.

𝐛𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞

Passenger Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle

𝐛𝐲 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫

Original Equipment Manufacturer (OEM)
Aftermarket

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The automotive wheel market is a dynamic segment of the global automotive industry, characterized by diverse product types, including steel, alloy, and carbon fiber wheels. Driven by factors such as increasing vehicle production, technological advancements, and rising consumer preferences for lightweight and high-performance wheels, the market is expanding across various regions. Innovations in wheel design and materials, along with the growing adoption of electric vehicles (EVs) and premium automobiles, are key drivers of market growth. The market faces challenges such as fluctuating raw material prices and regulatory pressures, but overall, it remains positive, with a strong focus on enhancing vehicle efficiency and aesthetics.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐛𝐲 𝐜𝐥𝐢𝐜𝐤𝐢𝐧𝐠 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝:https://www.maximizemarketresearch.com/request-sample/11013/

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐢𝐧 𝐰𝐡𝐢𝐜𝐡 𝐫𝐞𝐠𝐢𝐨𝐧𝐬??

The automotive wheel market is witnessing significant growth across various regions, with Asia-Pacific leading the charge due to the high production and sales of vehicles in countries like China, India, and Japan. North America is also experiencing robust demand, driven by the strong presence of major automotive manufacturers and the increasing adoption of advanced materials in wheel production. Europe is another key region, where the demand is fueled by the region's focus on lightweight and energy-efficient vehicles, along with the growing electric vehicle (EV) market. Additionally, emerging markets in Latin America and the Middle East are showing increased demand due to rising vehicle ownership and infrastructural development.

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐨𝐩𝐞 𝐚𝐧𝐝 𝐌𝐞𝐭𝐡𝐨𝐝𝐨𝐥𝐨𝐠𝐲:

The scope of the automotive wheel market covers a wide range of segments, including different types of wheels such as steel, alloy, and carbon fiber, catering to various vehicle categories like passenger cars, commercial vehicles, and electric vehicles (EVs). The market analysis includes an evaluation of regional markets, technological advancements, and trends influencing consumer preferences. Methodology for this market research typically involves a combination of primary and secondary data collection, including interviews with industry experts, analysis of company reports, and market surveys. Key factors such as regulatory standards, material innovations, and economic conditions are also considered to provide a comprehensive assessment of the market's current state and future prospects.

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤:https://www.maximizemarketresearch.com/request-sample/11013/

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

1. MAXION Wheels (Germany)
2. Borbet GmbH (Germany)
3. Uniwheels (Germany)
4. BBS Kraftfahrzeugtechnik AG. (Germany)
5. Thyssenkrupp AG (Germany)
6. CITIC Dicastal Co., Ltd. (China)
7. Zhejiang Wanfeng Auto Wheel (China)
8. LIZHONG WHEEL GROUP (China)
9. Superior Industries International (US)
10. Accuride Corporation (US)
11. MHT Luxury Wheels (US)
12. Status Wheels, Inc. (US)
13. Wheel Pros, LLC (US)
14. Fuel Off-Road Wheels (US)
15. SOTA Offroad (US)
16. Forgiato Wheels (US)
17. KONIG AMERICAN (US)
18. LKQ Corporation (US)
19. HRE Performance Wheels (US)
20. Vossen Wheels (US)
21. ALCOA WHEELS (US)
22. Steel Strips Wheels Ltd. (India)
23. Enkei Wheels India Ltd. (India)
24. Hitachi Metals (Japan)
25. TOPY INDUSTRIES (Japan)
26. Mangels Industrial (Brazil)
27. Ronal AG (Switzerland)
28. CMWheels (UK)
29. Alcar Holding GmbH (Austria)

𝐓𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐦𝐨𝐫𝐞 𝐜𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐜𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞:https://www.maximizemarketresearch.com/market-report/automotive-wheel-market/11013/

𝐊𝐞𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐡𝐞𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

• What is Automotive Wheel?
• What is the growth rate of the Automotive Wheel Market?
• Which are the factors expected to drive the Automotive Wheel market growth?
• What are the different segments of the Automotive Wheel Market?
• What growth strategies are the players considering to increase their presence in Automotive Wheel?
• What are the upcoming industry applications and trends for the Automotive Wheel Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Wheel Market?
• What major challenges could the Automotive Wheel Market face in the future?
• What segments are covered in the Automotive Wheel Market?
• Who are the leading companies and what are their portfolios in Automotive Wheel Market?
• What segments are covered in the Automotive Wheel Market?
• Who are the key players in the Automotive Wheel market?

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

♦Global Optical Measurement Market https://www.maximizemarketresearch.com/market-report/global-optical-measurement-market/23199/

♦Global Legaltech Artificial Intelligence Ai Market https://www.maximizemarketresearch.com/market-report/global-legaltech-artificial-intelligence-ai-market/90661/

♦Global Ultrafiltered Milk Market https://www.maximizemarketresearch.com/market-report/global-ultrafiltered-milk-market/69717/

♦Processed Animal Protein Market https://www.maximizemarketresearch.com/market-report/processed-animal-protein-market/148162/

♦Jams & Spreads Market https://www.maximizemarketresearch.com/market-report/jams-spreads-market/124398/

♦Brilinta Market https://www.maximizemarketresearch.com/market-report/brilinta-market/75579/

♦Global Commercial Pharmaceutical Analytics Market https://www.maximizemarketresearch.com/market-report/global-commercial-pharmaceutical-analytics-market/65545/

♦Glboal Pet Care Market https://www.maximizemarketresearch.com/market-report/global-pet-care-market/31345/

♦Dosimeter Market https://www.maximizemarketresearch.com/market-report/global-dosimeter-market/112547/

♦Global Payroll HR Solutions and Services Market https://www.maximizemarketresearch.com/market-report/global-payroll-hr-solutions-and-services-market/44138/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
3rd Floor, Navale IT Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656

𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.