Global Automotive Wheel
Market Report
2025
The global Automotive Wheel market size is USD 32.9 billion in 2024. The Automotive Wheel market will show strongest growth with the compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. This growth can be owing to advancements in vehicle electrification technologies.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Automotive Wheel Market Sales Revenue | $ 32.9 Billion | 121212 | 121212 | 121212 | 5.9% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Vehicle Type |
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Market Split by Sales Channel |
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Market Split by Material |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:The innovation in lightweight materials is anticipated to drive the Automotive Wheel market's expansion in the years ahead | |
Market Restrains:
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Report scope is customizable as we have a huge database of Automotive Wheel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Automotive Wheel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The automotive wheel market plays an important role in the automotive industry, serving as a fundamental component of vehicle design, aesthetics, and performance. Wheels not only support the vehicle's weight but also contribute to overall appearance and functionality. As vehicles continue to evolve in terms of design, performance, and technology, the demand for innovative and high-performance wheels grows. The market encompasses a wide range of wheel types, including steel wheels, alloy wheels, forged wheels, and carbon fiber wheels, each offering unique advantages in terms of strength, weight, and aesthetics. Key factors driving the automotive wheel market include advancements in lightweight materials, like aluminum alloys and carbon fiber composites, to improve fuel efficiency and performance. Additionally, trends in customizations and personalization fuel demand for aftermarket wheels. However, challenges such as stringent regulations, material costs, and competition from alternative transportation modes impact market dynamics .
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In February 2023, RUSAL started using end-of-life aluminum scrap in the production of foundry alloys for the automotive industry. This production enables RUSAL to achieve a nearly 20% reduction in the full-scope carbon footprint of the resulting new product. (Source: https://rusal.ru/en/)
Top Companies Market Share in Automotive Wheel Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in the year 2024 and accounted for around 40% of the global revenue due to a large automotive manufacturing base, a high demand for premium vehicles, and a strong aftermarket. Additionally, the region's focus on technological innovation, stringent safety standards, and a preference for lightweight and aesthetically appealing wheels contribute to its leadership in this market.
Asia-Pacific stands out as the fastest-growing region in the Automotive Wheel market due to the rapid expansion of the automotive industry, mainly in emerging economies like China and India. Increasing vehicle production, rising disposable incomes, and urbanization are driving the demand for automobiles, thus fueling the growth of automotive wheel market in the Asia Pacific region.
According to Cognitive Market Research, North America dominated the market in the year 2024 and accounted for around 40% of the global revenue due to a large automotive manufacturing base, a high demand for premium vehicles, and a strong aftermarket. Additionally, the region's focus on technological innovation, stringent safety standards, and a preference for lightweight and aesthetically appealing wheels contribute to its leadership in this market.
Asia-Pacific stands out as the fastest-growing region in the Automotive Wheel market due to the rapid expansion of the automotive industry, mainly in emerging economies like China and India. Increasing vehicle production, rising disposable incomes, and urbanization are driving the demand for automobiles, thus fueling the growth of automotive wheel market in the Asia Pacific region.
The current report Scope analyzes Automotive Wheel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Automotive Wheel Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Wheel Industry growth. Automotive Wheel market has been segmented with the help of its Vehicle Type, Sales Channel Material, and others. Automotive Wheel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on the current trends and future market projects, Automotive Wheel market size is projected from 2019 to 2031, with both quantitative and qualitative analysis based on the Vehicle Type segmentation analysis of the Automotive Wheel. This helps to understand the fastest-growing segments, such as industrial robots, electric motors, material handling systems, or construction equipment, and others. Type segment analysis gives detailed insights into the factors driving growth, such as technological innovations, automation, and energy efficiency. For instances segments like smart machinery and electric-powered equipment are becoming more popular as industries move towards sustainable and cost-effective solutions.
To better understand the performance of each Vehicle Type segment, several factors are considered. These include technological advancements like IoT and AI integration, changes in consumer demand for more energy-efficient or customizable operation and pricing trends driven by raw material costs and labor. Regulatory impacts also play a role, especially with environmental and safety regulations. This type of analysis offers a clear view of how different types will evolve over time, helping businesses make smarter decisions on investments and strategies. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Vehicle Type of Automotive Wheel analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Wheel Industry. Request a Free Sample PDF!
This report provides a comprehensive forecast of revenue growth for the Automotive Wheel industry at the global, regional, and country levels, from 2019 to 2031. It includes a detailed analysis of the latest industry trends and identifies key opportunities for each Sales Channel segment of machinery and equipment. The analysis covers demand across various end-use industries, such as automotive, HVAC, construction, energy, and others. By examining these application segments, the report helps stakeholders understand the factors driving growth in specific sectors and identify high-potential areas for investment and innovation. To perform a thorough Sales Channel segment analysis, the report considers several key factors. These include industry-specific demand patterns, technological advancements in machinery, and regional growth trends that influence specific applications. Additional factors such as regulatory requirements, supply chain dynamics, end-user preferences, and market competition are also examined to assess how they impact the adoption and performance of machinery in different sectors. The analysis further includes confidential insights like value chain evaluation, patent trends, and company performance metrics (through a Company Evaluation Quadrant), providing a complete view of each application’s evolution within the machinery and equipment market. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Some of the key Sales Channel of Automotive Wheel are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to cognitive market research, alloy is the dominant category due to its superior strength-to-weight ratio, which enhances performance, fuel efficiency, and aesthetics. Alloy wheels offer better heat dissipation, reducing brake fade and improving overall braking performance. Additionally, alloys are highly customizable, allowing for intricate designs and finishes that appeal to consumers. Their resistance to corrosion and rust also ensures durability, making them a preferred choice for automotive manufacturers and consumers seeking both style and functionality in their vehicles .
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Automotive Wheel Market is witnessing significant growth in the near future.
In 2023, the Passenger Cars segment accounted for noticeable share of global Automotive Wheel Market and is projected to experience significant growth in the near future.
The OEM segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Citic Dicastal Wheel Manufacturing, Iochpe-Maxion and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Uno Minda, an auto components maker, has started construction on a passenger vehicle alloy-wheel plant in Haryana, with an investment of Rs 542 crore. The facility, located at IMT Kharkhoda, will have a production capacity of 1.2 lakh wheels per month. The plant will be set up in a phased manner over the next five years, with the first phase expected to be commissioned in the second quarter of FY26. Uno Minda secured a land parcel of 94.32 acres at IMT Kharkhoda, Haryana HSIIDC, to fuel its expansions. The plan involves the establishment of large-scale mega factories and the consolidation of existing facilities for enhanced operational efficiency and economic optimization.
Disclaimer:
Vehicle Type | Passenger Cars, Commercial Vehicles |
Sales Channel | OEM, Aftermarket |
Material | Alloy, Steel, Carbon Fiber |
List of Competitors | Citic Dicastal Wheel Manufacturing, Hitachi Metals, Iochpe-Maxion, Superior Industries, Steel Strips Wheels, Topy Industries, CLN Group, Accuride Corporation, Borbet, American Eagle Wheels |
This chapter will help you gain GLOBAL Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review Global Automotive Wheel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review North America Automotive Wheel Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review Europe Automotive Wheel Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review Asia Pacific Automotive Wheel Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review South America Automotive Wheel Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review Middle East Automotive Wheel Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Automotive Wheel. Further deep in this chapter, you will be able to review Middle East Automotive Wheel Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Automotive Wheel. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Vehicle Type Analysis 2019 -2031, will provide market size split by Vehicle Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Vehicle Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Sales Channel Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Material Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Wheel market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 14 Research Methodology and Sources
Why Passenger Cars have a significant impact on Automotive Wheel market? |
What are the key factors affecting the Passenger Cars and Commercial Vehicles of Automotive Wheel Market? |
What is the CAGR/Growth Rate of OEM during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Wheel Market? |
Which region is expected to dominate the global Automotive Wheel Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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