Base Year
Historical Year
Forecast Year
The global automotive wheel rims market stood at a value of around USD 24.36 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.2% to reach USD 49.55 billion by 2032.
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Alloy-based automotive wheel rims are lightweight and provide better handling, which makes them ideal for both small cars and sedans. In addition to this, the lightweight of alloys reduces the unsprung mass, which ameliorates the fuel economy, leading to significant cost savings. Hence, the cars with alloy wheels and rims are likely to witness a heathy demand among the working-class population in the forecast period. Moreover, customisation is available in the alloy segment, which is likely to fuel the demand for the product among the population inclined towards efficient and attractive automobiles.
The automotive wheel rims industry in the Asia Pacific is driven by the strong foothold of major automotive manufacturing companies in India, China, South Korea, and Japan. The increasing production of automobiles in the region is anticipated to be a key driving factor in the market in the forecast period. In addition to this, in India, China, and Japan, a significant number of wheel manufacturing plants have been set up owing to a surge in the demand for commercial and passenger vehicles. Moreover, the rising spending on car maintenance and favourable government initiatives pertaining to automotive insurance is anticipated to offer lucrative opportunities to the market in the region.
Automotive wheel rim is defined as an outer edge of the wheel of an automobile on which the inside edge of the tire is mounted. Being durable and hard, rims allow the wheel to bear the burden of vehicles. Furthermore, the rim supports the tire shape and its dimensions are one of the significant factors in the handling characteristics of a vehicle. The wheel rim can be made up of alloys, steel, or carbon fibre, among others.
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Based on material type, the market can be segmented into:
The bifurcation of market based on sales channel includes:
By vehicle type, the market has been divided into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The market is being driven by factors such as the thriving automotive sector, rising demand for passenger vehicles, increasing disposable income, and rapid urbanisation. The increasing inclination of the working class population towards fuel efficient vehicles is anticipated to propel the demand for the product in the forecast period. Furthermore, the expansion of the transportation sector in emerging economies is anticipated to boost the demand for commercial vehicles, which, in turn, will provide impetus to the market. Additionally, the market is expected to be aided by the government regulations encouraging the use of lightweight vehicles in order to save fuel.
The report gives a detailed analysis of the following key players in the global automotive wheel rims market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Material Type |
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| Breakup by Sales Channel |
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| Breakup by Vehicle Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global automotive wheel rims market attained a value of nearly USD 24.36 billion.
The market is estimated to grow at a CAGR of 8.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 49.55 billion by 2032.
The major drivers of the market include the thriving automotive industry, rising disposable incomes, increasing demand for cars among the working class population, rapid urbanisation, and increasing inclination towards fuel economic vehicles.
The technological advancements in the automotive industry, growing R&D activities by the manufacturers to produce light weight and fuel-efficient automobiles are expected to be the key trends guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Alloys, steel, and carbon fibre are the major material types included in the market report.
OEM and aftermarket are the significant sales channels considered in the market report.
Passenger cars and commercial vehicles are the different vehicle types based on which the market has been segmented.
The major players in the industry are Maxion Wheels, Steel Strip Wheels, ESE Carbon, Accuride Corporation, Superior Industries International, Ronal Group, and Telleborg AB, among others.
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Australia
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+61-448-061-727
India
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+91-858-608-1494
Philippines
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+63-287-899-028, +63-967-048-3306
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+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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