Press release
Rising Passenger Car Sales Fuel Growth In The Automotive Wheel Aftermarket Driver: Leading Transformation in the Automotive Wheel Aftermarket Market in 2025
Automotive Wheel
The surge in sales of passenger vehicles is anticipated to drive the expansion of the automotive wheel aftermarket in the future. Cars, which are four-wheeled transportation means, can access a variety of aftermarket wheels that are cost-effective and cater to a broad spectrum of vehicles. These wheels are coveted in the automobile industry and are commonly used as replacement wheels in cars. As an illustration, the World Resources Institute, based in the US, disclosed in a report in September 2023 that in 2022, 10% of passenger cars sold globally were fully electric. This marked a tenfold rise relative to the situation five years prior. In order to comply with global climate objectives that aim to restrict global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) and alleviate the harmful impacts of climate change, electric vehicles (EVs) are expected to represent 75% to 95% of passenger car sales by 2030. Consequently, the escalating sales of passenger cars are fuelling the progression of the automotive wheel aftermarket.
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What is the projected compound annual growth rate (CAGR) of the automotive wheel aftermarket market from 2025 to 2034, and what factors influence it?
The market size of the automotive wheel aftermarket has been consistent in its growth recently. The market value is predicted to increase from $4.96 billion in 2024 to $5.15 billion in 2025, displaying a compound annual growth rate (CAGR) of 3.8%. Factors such as sustainability initiatives, the trend of weight reduction, the evolution of retail, growth in niche markets and the rising popularity of plus-sizing have contributed to this growth in the historic period.
In the coming years, the aftermarket automotive wheel market is anticipated to observe notable expansion, with a projected growth to $6.41 billion by 2029 at a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this development in the forecast duration involve increasing vehicle sales, the shift towards lighter materials, a growing fondness for larger wheels, and the rise of e-commerce and online retail sectors. Key trends to observe during this forecast period include customization and personalization, advancements in material technologies, aesthetic and stylistic inclinations, along with a surge in plus-sized wheels.
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How are the latest trends influencing the growth of the automotive wheel aftermarket market?
Innovations in new products are becoming a popular trend in the automotive wheel aftermarket, with major industry players focusing on launching sophisticated products to broaden their market reach. For instance, in February 2022, MacLean-Fogg Component Solutions (MFCS), a company renowned for providing engineered metal and plastic parts, unveiled their Threadstrong range of aftermarket wheel fasteners. It is specifically designed for a wide range of automotive uses, chiefly aiming to boost safety and performance in wheel assemblies. These fasteners act as superior substitutes for original equipment manufacturer (OEM) fasteners, catering to the market demand for dependable aftermarket alternatives. Crafted to adhere to strict safety standards, Threadstrong fasteners are apt for high-performance vehicles where dependability and durability are of the essence. Comprising stainless steel and other materials resistant to corrosion, they are produced to resist severe environmental factors, such as extreme weather conditions and contact with road salts and chemicals.
What are the major segments of the automotive wheel aftermarket market and their role in driving growth?
The automotive wheel after market market covered in this report is segmented -
1) By After market Type: New Wheel Replacement, Refurbished Wheel Fitment
2) By Material Type: Alloy, Steel, Other Materials
3) By Coating Type: Liquid Coating, Powdered Coating
4) By Vehicle: Passenger Cars, Lightweight Commercial Vehicles, Heavy Trucks, Buses And Coaches, Trailers
5) By Distribution Channel: Retail, Wholesalers And Distributors
Subsegments:
1) By New Wheel Replacement: Alloy Wheels, Steel Wheels, Specialty Wheels
2) By Refurbished Wheel Fitment: Remanufactured Wheels, Refinished Wheels, Customized Refurbished Wheels
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Which regions are key players in the growth of the automotive wheel aftermarket market?
North America was the largest region in the automotive wheel aftermarket in 2024. The regions covered in the automotive wheel aftermarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the automotive wheel aftermarket market?
Major companies operating in the automotive wheel aftermarket market include 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
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What Is Covered In The Automotive Wheel Aftermarket Global Market Report?
• Market Size Forecast: Examine the automotive wheel aftermarket market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive wheel aftermarket market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive wheel aftermarket market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive wheel aftermarket market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive wheel aftermarket market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive wheel aftermarket market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive wheel aftermarket market.
• Competitive Landscape: Review strategic developments in the automotive wheel aftermarket market, including expansions, agreements, and new product launches.
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