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Booming Global Automotive Wheel Aftermarket: Market Analysis, Key Players, and Trends from 2024 to 2029
Automotive Wheel Aftermarket Market Growth
What Is The Projected Market Size Of The Global Automotive Wheel Aftermarket Market And Its Growth Rate?
- The automotive wheel aftermarket market value was $4.96 billion in 2024, growing to $5.15 billion in 2025 at a CAGR of 3.8%.
- This growth in the historic period was spurred by sustainability initiatives, weight reduction trends, retail evolution, niche market expansion, and plus-sizing preference.
- Predicted to see robust growth, the market size will rise to $6.41 billion in 2029 at a CAGR of 5.6%.
- The projected growth in the forecast period is due to increasing vehicle sales, a shift towards lightweight materials, larger wheel preference, and e-commerce and online retail growth.
What Is Driving The Growth In The Automotive Wheel Aftermarket Market?
The growth of the automotive wheel aftermarket is primarily driven by increasing sales of passenger cars. As four-wheeled vehicles primarily used for transportation, cars are frequently fitted with aftermarket wheels which are less expensive and available for a wide range of vehicles. According to the World Resources Institute, 10% of passenger vehicles sold globally in 2022 were all-electric, a tenfold increase compared to five years earlier. In alignment with international climate goals targeting a limitation of global warming to 1.5 degrees Celsius, electric vehicles (EVs) must constitute 75% to 95% of passenger vehicle sales by 2030. Thus, the surging sales of passenger cars are fueling the growth of the automotive wheel aftermarket.
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Who Are the Key Players Driving Automotive Wheel Aftermarket Market Growth?
- Konig Wheels
- Enkei Corporation
- Superior Industries Inc.
- Ronal AG
- Maxion Wheels LLC
- BBS Kraftfahrzeugtechnik AG
- OE Creations Wheels LLC
- MSW Wheels OZ SpA
- TSW Alloy Wheels
- American Racing Equipment Inc.
- Method Race Wheels
- Fuel Off-Road Wheels
- Lexani Wheel Corp.
- KMC Wheels
- Rotiform Wheels
- Ultra Wheel Company Inc.
- Beyern Wheels Company
- Black Rhino Wheels
- Asanti Wheels
- Moto Metal Wheels
- Niche Wheels
- Lenso Wheels Store
- Cali Off-Road Wheels
- Giovanna Wheels
- Philippine Aluminum Wheels Inc.
- Foose Wheels
- AEZ Leichtmetallräder GmbH
- Anhui Xingda Auto Parts Technology Co. Ltd.
- XD Wheels
- Anovia Wheels LLC
- Braelin Wheels
- DUB Wheels
- Helo Wheels
- Ruff Wheels
What Are The Key Trends In The Automotive Wheel Aftermarket Market?
- Customization and personalization
- Advanced material technologies
- Aesthetic and stylistic preferences
- Rise in plus-sizing wheels
What Are The Segments Of The Global Automotive Wheel Aftermarket Market?
- Aftermarket Type: New Wheel Replacement, Refurbished Wheel Fitment
- Material Type: Alloy, Steel, Other Materials
- Coating Type: Liquid Coating, Powdered Coating
- Vehicle: Passenger Cars, Lightweight Commercial Vehicles, Heavy Trucks, Buses And Coaches, Trailers
- Distribution Channel: Retail, Wholesalers And Distributors
Which Region Leads The Automotive Wheel Aftermarket Market?
In 2024, North America was the largest region in the automotive wheel aftermarket. The report also covers other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Automotive Wheel Aftermarket Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Wheel Aftermarket Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Wheel Aftermarket Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Wheel Aftermarket Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Wheel Aftermarket Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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