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Global Automotive Wheel Rims Market to Grow at a CAGR of 8.21% During 2022-2027, Aided by the Rising Demand for Passenger and Commercial Vehicles

Automotive Wheel Rims Market

Global Automotive Wheel Rims Market Size, Share, Forecast: By Material Type: Alloys, Steel, Carbon Fibre; By Sales Channel: OEM, Aftermarket; By Vehicle Type: Passenger Cars, Commercial Vehicles; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Automotive Wheel Rims Market Outlook

The global automotive wheel rims market stood at a value of around USD 20.8 billion in 2021. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.21% to reach USD 33.4 billion by 2027.

 

Global Automotive Wheel Rims Market

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Increased Demand for Alloy-Based Wheel Rims to Aid the Global Market for Automotive Wheel Rims

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 Asia Pacific Accounts for a Significant Share in the Automotive Wheel Rims Industry

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 Rims: Market Segmentation

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.

 

Global Automotive Wheel Rims Market by Segment

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Based on material type, the market can be segmented into:

  • Alloys
  • Steel
  • Carbon Fibre

The bifurcation of market based on sales channel includes:

  • OEM
  • Aftermarket

By vehicle type, the market has been divided into:

  • Passenger Cars
  • Commercial Vehicles

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Automotive Wheel Rims Market by Region

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Expansion of the Automotive Sector to Boost the Growth of the Automotive Wheel Rims Industry

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.

 

Key Industry Players in the Global Automotive Wheel Rims Market

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:

  • Maxion Wheels
  • Steel Strip Wheels
  • ESE Carbon
  • Accuride Corporation
  • Superior Industries International
  • Ronal Group
  • Telleborg AB
  • Others

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- Material Type, Sales Channel, Vehicle Type, Region
Breakup by Material Type Alloys, Steel, Carbon Fibre
Breakup by Sales Channel OEM, Aftermarket
Breakup by Vehicle Type Passenger Cars, Commercial Vehicles
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Maxion Wheels, Steel Strip Wheels, ESE Carbon, Accuride Corporation, Superior Industries International, Ronal Group, Telleborg AB, Others
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.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Automotive Wheel Rims Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Automotive Wheel Rims Historical Market (2018-2023) 
    8.3    Global Automotive Wheel Rims Market Forecast (2024-2032)
    8.4    Global Automotive Wheel Rims Market by Material Type
        8.4.1    Alloys
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Steel
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
        8.4.3    Carbon Fibre 
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2023)
            8.4.3.3    Forecast Trend (2024-2032)
    8.5    Global Automotive Wheel Rims Market by Sales Channel
        8.5.1    OEM
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Aftermarket
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
    8.6    Global Automotive Wheel Rims Market by Vehicle Type
        8.6.1    Passenger Cars
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Commercial Vehicles
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
    8.7    Global Automotive Wheel Rims Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023) 
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023) 
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023) 
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023) 
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023) 
            8.7.5.3    Forecast Trend (2024-2032)
9    North America Automotive Wheel Rims Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Automotive Wheel Rims Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Automotive Wheel Rims Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Automotive Wheel Rims Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Automotive Wheel Rims Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market  Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Maxion Wheels
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Steel Strip Wheels
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    ESE Carbon
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Accuride Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Superior Industries International
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Ronal Group            
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Telleborg AB
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market

List of Key Figures and Tables

1.    Global Automotive Wheel Rims Market: Key Industry Highlights, 2018 and 2032
2.    Global Automotive Wheel Rims Historical Market: Breakup by Material Type (USD Billion), 2018-2023
3.    Global Automotive Wheel Rims Market Forecast: Breakup by Material Type (USD Billion), 2024-2032
4.    Global Automotive Wheel Rims Historical Market: Breakup by Sales Channel (USD Billion), 2018-2023
5.    Global Automotive Wheel Rims Market Forecast: Breakup by Sales Channel (USD Billion), 2024-2032
6.    Global Automotive Wheel Rims Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7.    Global Automotive Wheel Rims Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8.    Global Automotive Wheel Rims Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Automotive Wheel Rims Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Automotive Wheel Rims Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Automotive Wheel Rims Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Automotive Wheel Rims Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Automotive Wheel Rims Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Automotive Wheel Rims Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Automotive Wheel Rims Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Automotive Wheel Rims Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Automotive Wheel Rims Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Automotive Wheel Rims Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Automotive Wheel Rims Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Automotive Wheel Rims Market Structure

Key Questions Answered in the Report

What was the global automotive wheel rims market size in 2021?

In 2021, the global automotive wheel rims market attained a value of nearly USD 20.8 billion.

What is the growth rate of the market?

The market is estimated to grow at a CAGR of 8.21% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 33.4 billion by 2027.

What are the major industry drivers?

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.

What are the key industry trends of the global automotive wheel rims market?

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.

What are the major regional markets of automotive wheel rims, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major types of material included in the market report?

Alloys, steel, and carbon fibre are the major material types included in the market report.

What are the significant sales channels considered in the market report?

OEM and aftermarket are the significant sales channels considered in the market report.

What are the different vehicle types based on which the market has been segmented?

Passenger cars and commercial vehicles are the different vehicle types based on which the market has been segmented.

Who are the key industry players, according to the report?

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.

Analyst Review

The global automotive wheel rims market attained a value of USD 20.8 billion in 2021, driven by the thriving transportation industry and the rapid urbanisation. Aided by the increasing preference for fuel efficient and lightweight vehicles, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.21%. The market is projected to reach USD 33.4 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on material type, the market is divided into alloys, steel, and carbon fibre. On the basis of sales channel, the market is divided into OEM and aftermarket. By vehicle type, the market has been bifurcated into passenger cars and commercial vehicles. The major regional markets for automotive wheel rims are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Maxion Wheels, Steel Strip Wheels, ESE Carbon, Accuride Corporation, Superior Industries International, Ronal Group, and Telleborg AB, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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