Press release
Automotive Wheel Aftermarket Market is Anticipated to Expand upto $6.17 Billion in 2029
Automotive Wheel Aftermarket
What Is the Forecasted Market Growth Rate of the Automotive Wheel Aftermarket Industry?
In recent times, there has seen continuous growth in the market size of automotive wheel aftermarket. The market is projected to expand from a worth of $4.96 billion in 2024 reaching to $5.08 billion in 2025, with a compound annual growth rate (CAGR) of 2.5%. The growth witnessed during the historic period can be accredited to sustainability initiatives, the trend towards weight reduction, evolution in retail, expansion of niche markets, and the rising popularity of plus-sizing.
How Will the Automotive Wheel Aftermarket Market Size Evolve From 2025 to 2029?
Expectations are that the automotive wheel aftermarket market will experience a consistent expansion in the upcoming years. The projections show that it will reach a value of $6.17 billion in 2029, with a compound annual growth rate (CAGR) of 5.0%. The anticipated growth within the forecast period can be linked to an uprise in vehicle sales, a transition towards more lightweight materials, an increasing inclination for larger wheels and the expansive growth of e-commerce and online retail. Key emerging trends for the forecast period include customization and personalization, development in material technologies, aesthetic and stylistic choices, and an increase in plus-sizing wheels.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/automotive-wheel-aftermarket-global-market-report
What Are the Main Growth Drivers in the Automotive Wheel Aftermarket Market Today?
The automotive wheel aftermarket is projected to grow, driven by the increasing sales of passenger cars. Cars, which are four-wheeled vehicles employed for transportation, often require aftermarket wheels. These wheels, which suit a broad spectrum of vehicles, are cost-effective and highly sought after. They are frequently used as replacements in cars. A report issued by the World Resources Institute, a US-based entity, in September 2023 demonstrates this trend. The report highlighted that 10% of passenger cars sold globally in 2022 were fully electric - a tenfold increase from five years prior. In accordance with international climate objectives to keep global warming within 1.5 degrees Celsius (2.7 degrees Fahrenheit) and lessen the negative impacts of climate change, 75% to 95% of passenger car sales must be for electric vehicles (EVs) by 2030. As such, the rise in passenger car sales is fueling the expansion of the automotive wheel aftermarket.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample_request?id=7251&type=smp
Which Automotive Wheel Aftermarket Market Segment Is Expected to Lead Through 2029?
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
Which Market Trends Are Expected to Dominate Automotive Wheel Aftermarket Industry Growth?
The primary trend emerging in the automotive wheel aftermarket is the advent of new product innovations. A significant focus for major firms in the automotive aftermarket field is the development and introduction of cutting-edge products to expand their market presence. For example, in February 2022, MacLean-Fogg Component Solutions (MFCS), a company that specializes in engineered metal and plastic components, unveiled its Threadstrong range of aftermarket wheel fasteners. This range, designed for a wide array of automotive uses, primarily aims to augment safety and performance in wheel assemblies. Positioning themselves as quality substitutes for original equipment manufacturer (OEM) fasteners, Threadstrong fasteners cater to the market's demand for reliable aftermarket alternatives. Built to adhere to stringent safety standards, these fasteners are ideal for high-performance vehicles that require exceptional durability and dependability. Constructed with stainless steel and other materials resistant to corrosion, they can endure harsh environmental circumstances, including extreme temperature fluctuations and exposure to road salts and chemicals.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/Customise?id=7251&type=smp
Which Companies Hold the Largest Market Share in the Automotive Wheel Aftermarket Sector?
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
Where Is the Automotive Wheel Aftermarket Market Experiencing the Highest Growth?
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.
Speak With Our Expert:
Saumya Sahay,
Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
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 Automotive Wheel Aftermarket Market is Anticipated to Expand upto $6.17 Billion in 2029 here
News-ID: 4173095 • Views: …
More Releases from The Business Research Company
Leading Companies Fueling Growth and Innovation in the Automotive Solenoid Marke …
The automotive solenoid market is on the verge of significant expansion as advancements in technology and vehicle electrification continue to accelerate. Increasing integration of smart systems and the growing demand for efficient, eco-friendly automotive solutions are set to drive this market's development through the end of the decade.
Expected Growth Trajectory for the Automotive Solenoid Market by 2030
The automotive solenoid market is projected to reach a valuation of $7.81 billion…
Automotive Night Vision System Market Analysis: Major Segments, Strategic Develo …
The automotive night vision system market is set to experience significant expansion over the coming years, driven by technological advancements and growing safety demands. As vehicle manufacturers continue to integrate more sophisticated safety features, this market shows promising potential for rapid growth and innovation through 2030.
Projected Expansion of the Automotive Night Vision System Market Size Through 2030
The market size for automotive night vision systems is anticipated to reach $7.24…
Segment Analysis and Major Growth Areas in the Automotive HVAC Market
The automotive HVAC market is on a trajectory of significant growth as vehicle climate control systems evolve with advanced technologies. Innovations aimed at improving energy efficiency and passenger comfort are driving the sector forward, setting the stage for substantial expansion through 2030. Let's explore the current market size, key players, influential trends, and detailed segment insights shaping this dynamic industry.
Automotive HVAC Market Size and Growth Outlook Through 2030
The automotive…
Key Strategic Developments and Emerging Changes Shaping the Automotive Electroni …
The automotive electronic controller market is on track for impressive expansion as technology continues to transform the automotive sector. With the industry embracing smarter and more connected vehicle systems, the demand for advanced controllers that manage and optimize vehicle functions is rapidly increasing. Below, we explore the market's projected growth, key players, notable trends, and the main segments shaping this dynamic field.
Projected Market Size and Growth of the Automotive Electronic…
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…
