Automotive Wheel Market 2022-2026: Regional Statistics, Company Analysis, Global Revenue

Automotive wheel market to value USD 120 billion by 2026. Technological advancements in handling capacities of lighter wheels by cutting down unwanted mass and aiding suspension to follow the terrain more carefully with improving grip will fuel product demand in the coming years.

Growing consumer spending on vehicle customization along with demand for lightweight and corrosion resistant wheels is likely to drive global automotive wheel market outlook. There is large-scale usage of distinct forms of alloys including steel, magnesium and aluminum to provide improved heat conduction and better aesthetics over conventional steel-made wheels.

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Rapid urbanization and industrialization are projected to drive the demand for heavy trucks over the coming years. Introduction of environmental regulations due to increasing concerns about fuel emissions is proliferating the use of light weight wheels in trucks.

Rigidity and strength are some of the key parameters considered while making truck wheels. Adoption of raw materials that support high load carrying capacity will support segment growth through 2026. While surge in freight demand would augment the deployment of heavy trucks over the years.

The carbon fiber segment is projected to grow at a CAGR of more than 6% through the forecast period. Automotive wheels made using carbon fiber offer enhanced stiffness, tensile strength, and lower weight. They provide improved braking performance, and acceleration in comparison with aluminum wheels.

Growing manufacturing of fuel-efficient vehicles using carbon fiber wheels would provide a positive outlook to the segment. Taking 2016 for instance, BMW launched M Carbon compound wheels for its BMW M4 GTS, decreasing the weight of rotational and unsprung mass, resulting in enhanced steering response.

The North America automotive wheel market is poised to observe massive growth primarily due to the presence of prominent industry players across the region. U.S. Wheel Corporation, Wheel Pros, Maxion Wheels, and Superior Industries are some of the key regional wheel manufacturers.

Companies are opting various strategic moves such as acquisitions, collaborations, and investment rounds to enhance business reach. Taking March 2017 for instance, Superior Industries International Inc purchased Uniwheels AG, acquiring 61% shares in the firm. While in 2019, Wheel Pros acquired MHT Luxury Wheels to strengthen its position in the industry. 

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Some Point from Table of Contents:

Chapter 5    Global Automotive Wheel Market, By Product

5.1. Global automotive wheel industry share by product, 2019 & 2026

5.2. Regular

5.2.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

5.2.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

5.3. High performance

5.3.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

5.3.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

Chapter 6    Global Automotive Wheel Market, By End-Use

6.1. Global automotive wheel industry share by end-use, 2019 & 2026

6.2. OEM

6.2.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

6.2.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

6.3. Aftermarket

6.3.1    Automotive wheel industry estimates and forecast, 2016 - 2026, (Thousand units) (USD Million)

6.3.2    Automotive wheel industry estimates and forecast, by region, 2016 - 2026, (Thousand units) (USD Million)

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