Global Automotive Wheel Market (By Material Type, Vehicle Type and Application) – Prospective Landscape, Size, Share, Growth, Opportunities and Industry Forecast 2018 – 2025

Published DateReport CodeNo. of PagesReport Format
Oct – 2019AMR-1018110PDF / Excel

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Proliferating consumer preference for comfort and fuel-efficient vehicles to drive the market growth at 7.8% CAGR

The development of automotive wheels is driven by an increase in car manufacturing and the constant trend in vehicles ‘ weight decrease. Necessity to decrease car weight and increase fuel efficiency on the car wheel market for light weight wheels. The sector has been further improved by technological developments and product innovations in materials, design, and aerodynamics. Furthermore, increased consumption expenditure on vehicles and population growth further enhance market growth. Increased carbon fiber implementation in the car industry and increased investments in wheel design are also profiting for automotive wheel markets in order to better aerodynamics.

The automotive market will achieve the milestone of 100 million units in 2019. Original machinery companies in developing areas such as Japan, China, and India adapt with regards to their manufacturing and supply based footprints, supply chains, and product portfolio to modifications in regional and segment trends of supply and demand. Factors such as the rise in demographic growth and urbanization are boosting consumer demand for cars.

Passenger cars segment to drive the growth of the global market

Over 70 percent of the worldwide car wheel market was accounted for by passenger vehicles, and the sector is expected to dominate over the forecast period. Passenger automobiles are increasingly being designed and machined in concave Europe, combined with smooth lines and designs that provide optimal efficiency and esthetics of the vehicle. Moreover, the requirements for these kinds of finishing have increased substantially due to the participants in the sector providing milled windows and painted products. The sector development will be strongly supported by an easy aftermarket accessibility of these products.

In 2017, LCVs represented a income share of about 20 percent. The advent of hub & spoke model in developing markets provides a profitable chance to sell carriage products and cars for transport. In addition, the necessity to sustain effect of potholes and unevenness will promote the implementation of powerful and robust automotive wheels in the LCV segment.

North America to remain a dominant region in the global market

Because of increasing preferences for alloy wheels, North America is expected to have a prominent share in the worldwide market for automotive alloys. This  increased disposable earnings is another factor anticipated to raise the market during the forecast period in the working class populations of the USA and Canadas. Due to the growing automotive sector and the increase of living norms, particularly in nations such as Japan, China, and India, the automotive alloy wheel market is anticipated to expand in Asia Pacific. In addition, Asia Pacific is projected to have a prominent market share in these markets in the coming years, due to the great amount of two wheelers and two wheel fabricators in the region. The presence of a big amount of automakers in the area is expected to add to Europe’s significant share in the worldwide automotive alloy wheel market. In the worldwide automotive alloy wheel industry, Middle East and Africa are anticipated to develop at a moderate pace in the forecast period.

CITIC Dicastal Wheel Manufacturing, Iochpe-Maxion, Steel Strips Wheels, Hitachi Metals, United Wheels Group, American Eagle Wheels, Borbet, CLN Group, and Accuride Corporation among others are the main players operating on the global automotive wheel industry.

The global automotive wheel market was valued at USD 81 billion in 2018 and is expected to register a CAGR of 3.6% over the forecast period. Increased manufacturing of cars alongside increased customer preference for comfort and fuel-efficient cars will increase the size of the auto wheel industry during the predicted time period. The choices and use of the right wheels are made as part of the car design, according to car designs, sizes and cost requirements. Foreign variables include economic pricing, high capacity for transport and reduced weight and corrosion resistance, which help companies to increase the customer purchase over the expected period.

The automotive wheel market is segmented on the basis of material type, vehicle type, end user, and region. On the basis of material, the market is divided to alloy, steel, and carbon fiber. Based on the vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. Based on end user, the market is divided into original equipment manufacturer (OEM) and aftermarket. Based on regions, the global automotive wheel market is divided into Europe, North America, Latin America, Asia-Pacific and rest of the world.

The instability in the prices of raw materials for tire, wheels and rubber products is increasing. Demand for multiple components used in the manufacture of automotive wheels has recorded significant development over the years. The supply of raw materials, including aluminium, steel, magnesium and other, to the automotive components, continues to fluctuate. The excessive use of the raw materials used in the manufacture of the automotive wheel leads to its reduction. For example, fluctuating raw material prices in the manufacture of EV batteries hamper market development.

Automotive weight improves the vehicle’s fuel usage ability. It also hinders its ability to accelerate. In turn, these variables hamper the automotive industry’s development. Aluminium was first replaced by steel, but OEM is now adopting CFRP (carbon fiber-reinforced plastics) technologies for the manufacture of automotive machinery, as these materials give further weight decrease with greater particular rigidity. Many major companies of automobiles, such as BMW and Mercedes, are planning or have already begun to increase their manufacturing of fuel-efficient vehicles by using carbon fibers to reduce weight.

Rising ownership of vehicles and registrations worldwide play a significant part in the development of the sector due to the growing disposable income. In addition, the elevated level of penetration by car finance firms, facilitated leasing and access to credit have a positive effect on automotive property development. The automotive wheel market should be favoured in the course of the research with enhancement in car aesthetics, together with the performance improvement obtained through high efficiency and personalized wheels. The need for the use of lightweight parts in cars is driven by stringent emissions and fuel economy regulations.

The key industry players present in the global automotive wheel market include Changchun Faway Automobile Components Co., Ltd., Maxion Wheels, Zhejiang Wanfeng Auto Wheel, Ronal Group, Topy Industries Limited,Titan International, Inc., Superior Industries International, Inc. and Borbet GmbH among others.

Chapter 1.Executive Summary

Chapter 2.Market Introduction

Chapter 3.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – Key Industry Dynamics

  • 3.1.Key Market Drivers
  • 3.2.Key Market Restraints
  • 3.3.Market Opportunities
  • 3.4.Future Trends
  • 3.5.Impact Analysis of Drivers and Restraints

Chapter 4.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

Chapter 5.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Vehicle Type

  • 5.1.Passenger car
  • 5.2.Light commercial vehicle
  • 5.3.Heavy commercial vehicle

Chapter 6.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Material Type

  • 6.1.Alloy
  • 6.2.Steel
  • 6.3.Carbon fiber

Chapter 7.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Application

  • 7.1.Original equipment manufacturer (OEM)
  • 7.2.Aftermarket

Chapter 8.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Region

  • 8.1.North America
  • 8.2.Europe
  • 8.3.Asia-Pacific
  • 8.4.Latin America
  • 8.5.Middle East & Africa

Chapter 9.North America Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 9.1.North America Automotive Wheel Market – By Vehicle Type
    • 9.1.1.Passenger car
    • 9.1.2.Light commercial vehicle
    • 9.1.3.Heavy commercial vehicle
  • 9.2.North America Automotive Wheel Market – By Material Type
    • 9.2.1.Alloy
    • 9.2.2.Steel
    • 9.2.3.Carbon fiber
  • 9.3.North America Automotive Wheel Market – By Application
    • 9.3.1.Original equipment manufacturer (OEM)
    • 9.3.2.Aftermarket
  • 9.4.North America Automotive Wheel Market – By Country
    • 9.4.1.U.S.
    • 9.4.2.Canada

Chapter 10.Europe Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 10.1.Europe Automotive Wheel Market – By Vehicle Type
    • 10.1.1.Passenger car
    • 10.1.2.Light commercial vehicle
    • 10.1.3.Heavy commercial vehicle
  • 10.2.Europe Automotive Wheel Market – By Material Type
    • 10.2.1.Alloy
    • 10.2.2.Steel
    • 10.2.3.Carbon fiber
  • 10.3.Europe Automotive Wheel Market – By Application
    • 10.3.1.Original equipment manufacturer (OEM)
    • 10.3.2.Aftermarket
  • 10.4.Europe Automotive Wheel Market – By Country
    • 10.4.1.Germany
    • 10.4.2.France
    • 10.4.3.UK
    • 10.4.4.Spain
    • 10.4.5.Italy
    • 10.4.6.Rest of Europe

Chapter 11.Asia-Pacific Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 11.1.Asia-Pacific Automotive Wheel Market – By Vehicle Type
    • 11.1.1.Passenger car
    • 11.1.2.Light commercial vehicle
    • 11.1.3.Heavy commercial vehicle
  • 11.2.Asia-Pacific Automotive Wheel Market – By Material Type
    • 11.2.1.Alloy
    • 11.2.2.Steel
    • 11.2.3.Carbon fiber
  • 11.3.Asia-Pacific Automotive Wheel Market – By Application
    • 11.3.1.Original equipment manufacturer (OEM)
    • 11.3.2.Aftermarket
  • 11.4.Asia-Pacific Automotive Wheel Market – By Country
    • 11.4.1.China
    • 11.4.2.India
    • 11.4.3.Japan
    • 11.4.4.South Korea
    • 11.4.5.Rest of Asia-Pacific

Chapter 12.Latin America Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 12.1.Latin America Automotive Wheel Market – By Vehicle Type
    • 12.1.1.Passenger car
    • 12.1.2.Light commercial vehicle
    • 12.1.3.Heavy commercial vehicle
  • 12.2.Latin America Automotive Wheel Market – By Material Type
    • 12.2.1.Alloy
    • 12.2.2.Steel
    • 12.2.3.Carbon fiber
  • 12.3.Latin America Automotive Wheel Market – By Application
    • 12.3.1.Original equipment manufacturer (OEM)
    • 12.3.2.Aftermarket
  • 12.4.Latin America Automotive Wheel Market – By Country
    • 12.4.1.Brazil
    • 12.4.2.Mexico
    • 12.4.3.Rest of Latin America

Chapter 13.Middle East & Africa Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 13.1.Middle East & Africa Automotive Wheel Market – By Vehicle Type
    • 13.1.1.Passenger car
    • 13.1.2.Light commercial vehicle
    • 13.1.3.Heavy commercial vehicle
  • 13.2.Middle East & Africa Automotive Wheel Market – By Material Type
    • 13.2.1.Alloy
    • 13.2.2.Steel
    • 13.2.3.Carbon fiber
  • 13.3.Middle East & Africa Automotive Wheel Market – By Application
    • 13.3.1.Original equipment manufacturer (OEM)
    • 13.3.2.Aftermarket
  • 13.4.Middle East & Africa Automotive Wheel Market – By Country
    • 13.4.1.UAE
    • 13.4.2.Saudi Arabia
    • 13.4.3.Turkey
    • 13.4.4.Rest of Middle East & Africa

Chapter 14.Competitive Analysis

  • 14.1.1.Competition Dashboard
  • 14.1.2.Company Profiles
    • 14.1.2.1.Changchun Faway Automobile Components Co., Ltd
    • 14.1.2.2.Maxion Wheels
    • 14.1.2.3.Zhejiang Wanfeng Auto Wheel,Ronal Group
    • 14.1.2.4.Ronal Group
    • 14.1.2.5.Topy Industries Limited
    • 14.1.2.6.Titan International Inc.
    • 14.1.2.7.Superior Industries International
    • 14.1.2.8.Borbet GmbH
    • 14.1.2.9.CITIC Dicastal Wheel Manufacturing
    • 14.1.2.10.United Wheels Group
Report Synopsis

Proliferating consumer preference for comfort and fuel-efficient vehicles to drive the market growth at 7.8% CAGR

The development of automotive wheels is driven by an increase in car manufacturing and the constant trend in vehicles ‘ weight decrease. Necessity to decrease car weight and increase fuel efficiency on the car wheel market for light weight wheels. The sector has been further improved by technological developments and product innovations in materials, design, and aerodynamics. Furthermore, increased consumption expenditure on vehicles and population growth further enhance market growth. Increased carbon fiber implementation in the car industry and increased investments in wheel design are also profiting for automotive wheel markets in order to better aerodynamics.

The automotive market will achieve the milestone of 100 million units in 2019. Original machinery companies in developing areas such as Japan, China, and India adapt with regards to their manufacturing and supply based footprints, supply chains, and product portfolio to modifications in regional and segment trends of supply and demand. Factors such as the rise in demographic growth and urbanization are boosting consumer demand for cars.

Passenger cars segment to drive the growth of the global market

Over 70 percent of the worldwide car wheel market was accounted for by passenger vehicles, and the sector is expected to dominate over the forecast period. Passenger automobiles are increasingly being designed and machined in concave Europe, combined with smooth lines and designs that provide optimal efficiency and esthetics of the vehicle. Moreover, the requirements for these kinds of finishing have increased substantially due to the participants in the sector providing milled windows and painted products. The sector development will be strongly supported by an easy aftermarket accessibility of these products.

In 2017, LCVs represented a income share of about 20 percent. The advent of hub & spoke model in developing markets provides a profitable chance to sell carriage products and cars for transport. In addition, the necessity to sustain effect of potholes and unevenness will promote the implementation of powerful and robust automotive wheels in the LCV segment.

North America to remain a dominant region in the global market

Because of increasing preferences for alloy wheels, North America is expected to have a prominent share in the worldwide market for automotive alloys. This  increased disposable earnings is another factor anticipated to raise the market during the forecast period in the working class populations of the USA and Canadas. Due to the growing automotive sector and the increase of living norms, particularly in nations such as Japan, China, and India, the automotive alloy wheel market is anticipated to expand in Asia Pacific. In addition, Asia Pacific is projected to have a prominent market share in these markets in the coming years, due to the great amount of two wheelers and two wheel fabricators in the region. The presence of a big amount of automakers in the area is expected to add to Europe’s significant share in the worldwide automotive alloy wheel market. In the worldwide automotive alloy wheel industry, Middle East and Africa are anticipated to develop at a moderate pace in the forecast period.

CITIC Dicastal Wheel Manufacturing, Iochpe-Maxion, Steel Strips Wheels, Hitachi Metals, United Wheels Group, American Eagle Wheels, Borbet, CLN Group, and Accuride Corporation among others are the main players operating on the global automotive wheel industry.

Report Description

The global automotive wheel market was valued at USD 81 billion in 2018 and is expected to register a CAGR of 3.6% over the forecast period. Increased manufacturing of cars alongside increased customer preference for comfort and fuel-efficient cars will increase the size of the auto wheel industry during the predicted time period. The choices and use of the right wheels are made as part of the car design, according to car designs, sizes and cost requirements. Foreign variables include economic pricing, high capacity for transport and reduced weight and corrosion resistance, which help companies to increase the customer purchase over the expected period.

The automotive wheel market is segmented on the basis of material type, vehicle type, end user, and region. On the basis of material, the market is divided to alloy, steel, and carbon fiber. Based on the vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. Based on end user, the market is divided into original equipment manufacturer (OEM) and aftermarket. Based on regions, the global automotive wheel market is divided into Europe, North America, Latin America, Asia-Pacific and rest of the world.

The instability in the prices of raw materials for tire, wheels and rubber products is increasing. Demand for multiple components used in the manufacture of automotive wheels has recorded significant development over the years. The supply of raw materials, including aluminium, steel, magnesium and other, to the automotive components, continues to fluctuate. The excessive use of the raw materials used in the manufacture of the automotive wheel leads to its reduction. For example, fluctuating raw material prices in the manufacture of EV batteries hamper market development.

Automotive weight improves the vehicle’s fuel usage ability. It also hinders its ability to accelerate. In turn, these variables hamper the automotive industry’s development. Aluminium was first replaced by steel, but OEM is now adopting CFRP (carbon fiber-reinforced plastics) technologies for the manufacture of automotive machinery, as these materials give further weight decrease with greater particular rigidity. Many major companies of automobiles, such as BMW and Mercedes, are planning or have already begun to increase their manufacturing of fuel-efficient vehicles by using carbon fibers to reduce weight.

Rising ownership of vehicles and registrations worldwide play a significant part in the development of the sector due to the growing disposable income. In addition, the elevated level of penetration by car finance firms, facilitated leasing and access to credit have a positive effect on automotive property development. The automotive wheel market should be favoured in the course of the research with enhancement in car aesthetics, together with the performance improvement obtained through high efficiency and personalized wheels. The need for the use of lightweight parts in cars is driven by stringent emissions and fuel economy regulations.

The key industry players present in the global automotive wheel market include Changchun Faway Automobile Components Co., Ltd., Maxion Wheels, Zhejiang Wanfeng Auto Wheel, Ronal Group, Topy Industries Limited,Titan International, Inc., Superior Industries International, Inc. and Borbet GmbH among others.

Table of Content

Chapter 1.Executive Summary

Chapter 2.Market Introduction

Chapter 3.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – Key Industry Dynamics

  • 3.1.Key Market Drivers
  • 3.2.Key Market Restraints
  • 3.3.Market Opportunities
  • 3.4.Future Trends
  • 3.5.Impact Analysis of Drivers and Restraints

Chapter 4.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

Chapter 5.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Vehicle Type

  • 5.1.Passenger car
  • 5.2.Light commercial vehicle
  • 5.3.Heavy commercial vehicle

Chapter 6.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Material Type

  • 6.1.Alloy
  • 6.2.Steel
  • 6.3.Carbon fiber

Chapter 7.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Application

  • 7.1.Original equipment manufacturer (OEM)
  • 7.2.Aftermarket

Chapter 8.Global Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025 – By Region

  • 8.1.North America
  • 8.2.Europe
  • 8.3.Asia-Pacific
  • 8.4.Latin America
  • 8.5.Middle East & Africa

Chapter 9.North America Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 9.1.North America Automotive Wheel Market – By Vehicle Type
    • 9.1.1.Passenger car
    • 9.1.2.Light commercial vehicle
    • 9.1.3.Heavy commercial vehicle
  • 9.2.North America Automotive Wheel Market – By Material Type
    • 9.2.1.Alloy
    • 9.2.2.Steel
    • 9.2.3.Carbon fiber
  • 9.3.North America Automotive Wheel Market – By Application
    • 9.3.1.Original equipment manufacturer (OEM)
    • 9.3.2.Aftermarket
  • 9.4.North America Automotive Wheel Market – By Country
    • 9.4.1.U.S.
    • 9.4.2.Canada

Chapter 10.Europe Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 10.1.Europe Automotive Wheel Market – By Vehicle Type
    • 10.1.1.Passenger car
    • 10.1.2.Light commercial vehicle
    • 10.1.3.Heavy commercial vehicle
  • 10.2.Europe Automotive Wheel Market – By Material Type
    • 10.2.1.Alloy
    • 10.2.2.Steel
    • 10.2.3.Carbon fiber
  • 10.3.Europe Automotive Wheel Market – By Application
    • 10.3.1.Original equipment manufacturer (OEM)
    • 10.3.2.Aftermarket
  • 10.4.Europe Automotive Wheel Market – By Country
    • 10.4.1.Germany
    • 10.4.2.France
    • 10.4.3.UK
    • 10.4.4.Spain
    • 10.4.5.Italy
    • 10.4.6.Rest of Europe

Chapter 11.Asia-Pacific Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 11.1.Asia-Pacific Automotive Wheel Market – By Vehicle Type
    • 11.1.1.Passenger car
    • 11.1.2.Light commercial vehicle
    • 11.1.3.Heavy commercial vehicle
  • 11.2.Asia-Pacific Automotive Wheel Market – By Material Type
    • 11.2.1.Alloy
    • 11.2.2.Steel
    • 11.2.3.Carbon fiber
  • 11.3.Asia-Pacific Automotive Wheel Market – By Application
    • 11.3.1.Original equipment manufacturer (OEM)
    • 11.3.2.Aftermarket
  • 11.4.Asia-Pacific Automotive Wheel Market – By Country
    • 11.4.1.China
    • 11.4.2.India
    • 11.4.3.Japan
    • 11.4.4.South Korea
    • 11.4.5.Rest of Asia-Pacific

Chapter 12.Latin America Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 12.1.Latin America Automotive Wheel Market – By Vehicle Type
    • 12.1.1.Passenger car
    • 12.1.2.Light commercial vehicle
    • 12.1.3.Heavy commercial vehicle
  • 12.2.Latin America Automotive Wheel Market – By Material Type
    • 12.2.1.Alloy
    • 12.2.2.Steel
    • 12.2.3.Carbon fiber
  • 12.3.Latin America Automotive Wheel Market – By Application
    • 12.3.1.Original equipment manufacturer (OEM)
    • 12.3.2.Aftermarket
  • 12.4.Latin America Automotive Wheel Market – By Country
    • 12.4.1.Brazil
    • 12.4.2.Mexico
    • 12.4.3.Rest of Latin America

Chapter 13.Middle East & Africa Automotive Wheel Market – Analysis and Revenue Forecast 2018-2025

  • 13.1.Middle East & Africa Automotive Wheel Market – By Vehicle Type
    • 13.1.1.Passenger car
    • 13.1.2.Light commercial vehicle
    • 13.1.3.Heavy commercial vehicle
  • 13.2.Middle East & Africa Automotive Wheel Market – By Material Type
    • 13.2.1.Alloy
    • 13.2.2.Steel
    • 13.2.3.Carbon fiber
  • 13.3.Middle East & Africa Automotive Wheel Market – By Application
    • 13.3.1.Original equipment manufacturer (OEM)
    • 13.3.2.Aftermarket
  • 13.4.Middle East & Africa Automotive Wheel Market – By Country
    • 13.4.1.UAE
    • 13.4.2.Saudi Arabia
    • 13.4.3.Turkey
    • 13.4.4.Rest of Middle East & Africa

Chapter 14.Competitive Analysis

  • 14.1.1.Competition Dashboard
  • 14.1.2.Company Profiles
    • 14.1.2.1.Changchun Faway Automobile Components Co., Ltd
    • 14.1.2.2.Maxion Wheels
    • 14.1.2.3.Zhejiang Wanfeng Auto Wheel,Ronal Group
    • 14.1.2.4.Ronal Group
    • 14.1.2.5.Topy Industries Limited
    • 14.1.2.6.Titan International Inc.
    • 14.1.2.7.Superior Industries International
    • 14.1.2.8.Borbet GmbH
    • 14.1.2.9.CITIC Dicastal Wheel Manufacturing
    • 14.1.2.10.United Wheels Group
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