Press release
Major Growth Driver Identified in 2025 Automotive Wheel Market: Surging Vehicle Production Propels Growth In The Automotive Wheel Market
Automotive Wheel
How Large Will the Automotive Wheel Market Size By 2025?
The size of the automotive wheel market has significantly increased over the past few years. A growth from $39.76 billion in 2024 to $42.93 billion in 2025 is projected, exhibiting a compound annual growth rate (CAGR) of 8.0%. Factors such as the expansion of regional automotive markets, worldwide economic conditions, safety norms and assessments, regulatory standards, as well as consumer choices are responsible for this growth during the historical period.
How Big Is the Automotive Wheel Market Size Expected to Grow by 2029?
The market size of automotive wheels is anticipated to witness substantial growth in the years to come, reaching $57.69 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%. This predicted growth during the forecast period can be credited to ongoing material advancements, the evolution of autonomous vehicles, emphasis on sustainability, the global expansion of car manufacturing, urbanization, and the demand for compact cars. Key trends encompassing the forecast time frame include superior manufacturing techniques, options for customization and personalization, the introduction of aerodynamic wheel designs, smart wheels with embedded sensors, and wheels made from carbon fiber composites.
View the full report here:
https://www.thebusinessresearchcompany.com/report/automotive-wheel-aftermarket-global-market-report
Which Key Market Drivers Powering Automotive Wheel Market Expansion and Growth?
The expansion of the automotive wheel market is predicted to be driven by the increasing production of vehicles. The wheel, being a critical car component, has a demand that directly mirrors the automotive industry. As the production of vehicles elevates annually, so does the need for automotive wheels. For instance, the International Trade Administration, a US government agency, reported in November 2023 that the automotive sector plays a crucial role in Mexico's economy, making up 3.6% of the country's Gross Domestic Product (GDP) and 18% of the manufacturing GDP. In 2022, the unit count in the market for electric vehicles (EVs) and hybrids was at a mere 51,065, marking an 8.5% rise from 2021. In this market, hybrid vehicles constituted 3.75% of the total EV market, trailed by electric vehicles at 0.51% and plug-in hybrids at 0.42%. Therefore, it is anticipated that the upsurge in vehicle production will spur the demand for automotive wheels in the projected period.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7251&type=smp
Which Fast-Growing Trends Are Poised to Disrupt the Automotive Wheel Market?
The automotive wheels market is being transformed by tech advancements. Significant organizations in the automotive wheel sector are intent on creating cutting-edge technological solutions to enhance their industry standing. For example, in September 2022, Maxion Wheels, a leading steel and aluminum wheel manufacturer for a variety of vehicles based in Brazil, introduced the upcoming generation of lightweight steel truck wheels. Constructed for multipurpose use in the commercial vehicle industry, these wheels, especially the 22.5 x 11.75 size, have been engineered to drastically lower weight-by an estimated 4 kg in comparison to existing models-enabling an increased payload capacity of 40 kg or more. This weight reduction is vital for fleet managers, as lighter wheels result in better fuel efficiency and superior vehicle performance overall.
What Are the Emerging Segments in the Automotive Wheel Market?
The automotive wheel market covered in this report is segmented -
1) By Material: Steel, Alloy, Carbon Fiber, Other Materials
2) By Vehicle Class: Economy, Mid-Priced, Luxury-Priced
3) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
4) By Rim Size: 13"-15", 16"-18", 19"-21", Above 21"
5) By End-Use: OE, After market
Subsegments:
1) By Steel: Standard Steel Wheels, Spoke Steel Wheels, Steel Rims
2) By Alloy: Cast Alloy Wheels, Forged Alloy Wheels, Multi-piece Alloy Wheels
3) By Carbon Fiber: Single-piece Carbon Fiber Wheels, Multi-piece Carbon Fiber Wheels
4) By Other Materials: Magnesium Wheels, Composite Wheels, Specialty Materials
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7251&type=smp
Who Are the Global Leaders in the Automotive Wheel Market?
Major companies operating in the automotive wheel market include Continental AG, Aisin Seiki Co. Ltd., Michelin Group, Wheel Solutions Limited, Goodyear Tire & Rubber Company, Tenneco Inc., Alcoa Corporation, Hitachi Metals Ltd., Pirelli & C. S.p.A., Carlisle Companies Inc., Toyo Tire & Rubber Co. Ltd., Zhongding Group Inc., Superior Industries International Inc., IOCHPE-Maxion SA, Steel Strips Wheels Ltd., Wheel Pros LLC, Super Alloy Industrial Co. Ltd., Hayes Lemmerz International Inc., American Eagle Wheels Corp., Dana Incorporated, OZ Group, Accuride Corporation, Topy Industries Limited, Foshan Nanhai Zhongnan Aluminum Wheel Co., BBS Kraftfahrzeuge GmbH, CLN Group, Mangels Industrial SA, Zhejiang Wanfeng Auto Wheel Co. Ltd., BORBET GmbH, Bridgestone Corporation, CIE Automotive Inc.
Which are the Top Profitable Regional Markets for the Automotive Wheel Industry?
Asia-Pacific was the largest region in the automotive wheel market in 2024. The regions covered in the automotive wheel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7251
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Major Growth Driver Identified in 2025 Automotive Wheel Market: Surging Vehicle Production Propels Growth In The Automotive Wheel Market here
News-ID: 4110275 • Views: …
More Releases from The Business Research Company
Analysis of Key Market Segments Driving the Agricultural Implement Market
The agricultural implement market is set to experience significant growth over the coming years as technological advances and sustainable farming practices become more prevalent. Increasing adoption of smart farming techniques and energy-efficient machinery are among the factors fueling this upward trajectory. Let's explore the market size, key players, driving forces, trends, and segmentation that define this expanding sector.
Strong Growth Forecast for the Agricultural Implement Market by 2030
The market for…
Top Companies and Market Competition in the Advanced Bipolar Direct Energy Devic …
The advanced bipolar direct energy device market is poised for significant expansion as the medical field continues to prioritize minimally invasive techniques and precision surgery. With technological advancements and growing healthcare investments, this sector is expected to transform surgical practices and improve patient outcomes in the coming years. Let's explore the market's size, key players, emerging trends, and detailed segmentations shaping its future.
Projected Market Growth Trajectory for Advanced Bipolar Direct…
Future Perspectives: Key Trends Shaping the 2 Point Measuring Instruments Market …
The market for 2 point measuring instruments is set for significant expansion over the coming years, driven by increasing technological advances and growing industrial needs. This sector is witnessing rising adoption of precise measurement tools that are essential to quality control and manufacturing efficiency. Let's explore the market size projections, key players, emerging trends, and how the market is segmented by product and application.
Strong Growth Outlook for the 2 Point…
In-Depth Examination of Segments, Industry Developments, and Key Players in the …
The feed screw barrel market is on track for substantial expansion as it adapts to the evolving needs of various industrial sectors. With rising technological advancements and increasing customization demands, the market is positioned to achieve significant growth through 2030. Let's explore the current market size, major players, emerging trends, and key market segments shaping this industry's future.
Forecasted Market Size and Growth Outlook for the Feed Screw Barrel Market
The…
More Releases for Wheel
Agricultural Tractors Market : 2 Wheel Drive, 4 Wheel Drive 2021-2031 | AMR
The global agricultural tractors market was valued at $59.1 billion in 2021, and is projected to reach $97.8 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Asia-Pacific is expected to dominate the market, in terms of revenue, followed by Europe, North America, and LAMEA. Increase in agricultural and industrial activities and government support for the agriculture industry in Asia-Pacific propels growth of the agricultural tractors market…
Agricultural Tractors Market : 2 Wheel Drive, 4 Wheel Drive 2021-2031
The agricultural tractors market was valued at $59.1 billion in 2021, and is estimated to reach $97.8 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
Asia-Pacific is expected to dominate the market, in terms of revenue, followed by Europe, North America, and LAMEA. Increase in agricultural and industrial activities and government support for the agriculture industry in Asia-Pacific propels growth of the agricultural tractors market in…
Rail Wheel And Axle Industry Forecast to 2028 Global Market Analysis by Wheel Ty …
A rail wheel and axle is a type of wheel and axel that is specially designed for railways. Growing technological advancements in train networks and trains are compelling train manufacturers to invest heavy sums in R&D for the manufacturing of light materials for wheels and axles for passenger trains, freight trains, and short-distance trains. Rise in the production of locomotives in developing and developed countries are the major driving factor…
Automotive Products |Floating wheel cap and LED Floating Wheel Caps Manufacturer
Bosswellkorea, Inc. was founded in 2014 and is specializing in the development of automotive products, LED lighting floating wheel cap and LED lighting emblem, LED lighting signboard. LED floating wheel cap patent introduction (Korea, USA, Japan, China), Floating wheel cap patent (September 2020). Janine, Spain, introduces NSV in Dubai, floating wheel cap to the world Reliability Test Pass Test Report
A floating wheel cap is a product that fits in the…
Section From Wheel Aligner Market Report 2019 Companies included 3D Wheel Aligne …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2019 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2019 to 2025, etc. The report also provides detailed segmentation on the…
Section From Wheel Aligner Market Report 2018 Companies included 3D Wheel Aligne …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the…
