All updated as on -
The aftermarket for automotive wheels was estimated to be worth USD 910.28 M in 2022, and is expected to increase to USD 1381 M by 2030, a CAGR of 7.77%.
Wheels are circular objects that facilitate the easy movement of vehicles and other objects. They roll on an axle and are made of durable, long-lasting wheels. The vehicle's stability and traction can be improved with a quality set of wheels. Three crucial aspects of wheels are camber, caster, and toe. Alloy wheels are composed of a variety of materials, including magnesium and aluminum. They're utilized to make a car look better and are much lighter than steel wheels.
Due to increased consumer demand for safety and comfort amenities, the average vehicle weight has been steadily rising in the automotive industry. As a result, both original equipment manufacturers and aftermarket players have invested heavily in research and development to find ways to reduce the vehicle's overall weight in order to meet government regulations pertaining to vehicular fuel consumption and emissions, ultimately increasing the demand for aftermarket wheels. It is projected that demand for aftermarket wheels would increase at a faster rate in developed regions due to the region's strict focus on lightweight materials and fuel consumption. Aftermarket demand for car wheels is increasing as more and more drivers choose aesthetics, performance, and comfort.
A wheel is any circular item that facilitates the easy movement of a vehicle or other object. They spin on an axle, and the tough, long-lasting material used to make the wheels makes them reliable. The vehicle's stability and traction depend on the quality of the wheels. Camber, caster, and toe are three crucial aspects of wheels. Alloy wheels are constructed from a mixture of metals and elements, such as magnesium and aluminum. People use them to make their cars look better, and they're much lighter than steel wheels.
Since many companies that governments around the world have considered non-essential are currently inactive and incurring enormous losses, the COVID-19 epidemic will have a huge influence on global industrial expenditure over the next several years. Their investment in technology will suffer because of this through 2021. COVID-19 is also encouraging businesses to rely more heavily on digitization and automation for long-term operations to mitigate the financial impact of the pandemic and future economic downturns. It is expected that the effects of the COVID-19 epidemic will be temporary. COVID-19 is an opportunity for businesses to make much-needed operational improvements, with a focus on creating networking technologies, in light of the current epidemic.
The industry is poised for significant development thanks to the increasing popularity of aluminum cars among light commercial vehicles. Aluminum wheels, often found on passenger cars and SUVs, are very common in industrialized nations. The United States, Germany, and Japan are the global centers of aluminum and carbon fiber wheel manufacturing and consumption due to the concentration of industry leaders in these areas. The combination of these elements is anticipated to accelerate R&D efforts and increase consumer demand.
Because of the strict government required mileage requirements, automakers are also increasing their use of carbon-based and aluminum wheels. More efficiently produced wheels with finer body lines and less wasted energy during production are further benefits of the new material. Alloy wheels have a dominant market share because of their many desirable characteristics, including longevity, resistance to corrosion, density, high tensile strength, malleability, and ductility. The need for one-of-a-kind wheels to complement the growing number of hybrid electric vehicle types is also skyrocketing.
In addition to rising vehicle production, factors driving market expansion include the increasing popularity of aluminum vehicles among light commercial vehicles, rising demand for hybrid electric automobile models, tightening regulations governing fuel economy, rising sales of passenger cars in response to consumers' shifting tastes, and the growing popularity of small and medium-sized sport utility vehicles. In addition, during the aforementioned forecast period, new opportunities will arise for the automotive wheels aftermarket market due to the increasing use of advanced materials and new compositions in wheels, as well as the increasing research and development activities, and the increasing modernization and technological advancements in the products offered on the market.
Report Coverage
Global Automotive Wheels Aftermarket research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Wheels Aftermarket report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Wheels Aftermarket competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Wheels Aftermarket market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Wheels Aftermarket market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Wheels Aftermarket market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AEZ Leichtmetallräde, ALLOY WHEEL REPAIR SPECIALISTS, LLC, Arconic, Automotive Wheels Ltd, BBS Kraftfahrzeugtechnik, Beyern Wheels, Borbet GmbH, CMWheels, ENKEI CORPORATION, Forgiato, Jian Sin Industrial Co. Ltd., KONIG AMERICAN, LKQ Corporation, MAXION Wheels Inc., O.Z. S.p.A., RAYS Co. Ltd, RONAL GROUP, Tanabe USA Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Wheels Aftermarket market based on the below-mentioned segments:
Global Automotive Wheels Aftermarket Market, By Vehicle Type
Passenger Cars
Commercial Vehicles
Global Automotive Wheels Aftermarket market, By Type
New Wheel Replacement
Refurbished Wheel Fitment
Global Automotive Wheels Aftermarket Market, By Material Type
Alloy
Steel
Others
Global Automotive Wheels Aftermarket market, Regional Analysis
Wheels are circular objects that facilitate the easy movement of vehicles and other objects. They roll on an axle and are made of durable, long-lasting wheels. The vehicle's stability and traction can be improved with a quality set of wheels. Three crucial aspects of wheels are camber, caster, and toe. Alloy wheels are composed of a variety of materials, including magnesium and aluminum. They're utilized to make a car look better and are much lighter than steel wheels.
Due to increased consumer demand for safety and comfort amenities, the average vehicle weight has been steadily rising in the automotive industry. As a result, both original equipment manufacturers and aftermarket players have invested heavily in research and development to find ways to reduce the vehicle's overall weight in order to meet government regulations pertaining to vehicular fuel consumption and emissions, ultimately increasing the demand for aftermarket wheels. It is projected that demand for aftermarket wheels would increase at a faster rate in developed regions due to the region's strict focus on lightweight materials and fuel consumption. Aftermarket demand for car wheels is increasing as more and more drivers choose aesthetics, performance, and comfort.
A wheel is any circular item that facilitates the easy movement of a vehicle or other object. They spin on an axle, and the tough, long-lasting material used to make the wheels makes them reliable. The vehicle's stability and traction depend on the quality of the wheels. Camber, caster, and toe are three crucial aspects of wheels. Alloy wheels are constructed from a mixture of metals and elements, such as magnesium and aluminum. People use them to make their cars look better, and they're much lighter than steel wheels.
Since many companies that governments around the world have considered non-essential are currently inactive and incurring enormous losses, the COVID-19 epidemic will have a huge influence on global industrial expenditure over the next several years. Their investment in technology will suffer because of this through 2021. COVID-19 is also encouraging businesses to rely more heavily on digitization and automation for long-term operations to mitigate the financial impact of the pandemic and future economic downturns. It is expected that the effects of the COVID-19 epidemic will be temporary. COVID-19 is an opportunity for businesses to make much-needed operational improvements, with a focus on creating networking technologies, in light of the current epidemic.
The industry is poised for significant development thanks to the increasing popularity of aluminum cars among light commercial vehicles. Aluminum wheels, often found on passenger cars and SUVs, are very common in industrialized nations. The United States, Germany, and Japan are the global centers of aluminum and carbon fiber wheel manufacturing and consumption due to the concentration of industry leaders in these areas. The combination of these elements is anticipated to accelerate R&D efforts and increase consumer demand.
Because of the strict government required mileage requirements, automakers are also increasing their use of carbon-based and aluminum wheels. More efficiently produced wheels with finer body lines and less wasted energy during production are further benefits of the new material. Alloy wheels have a dominant market share because of their many desirable characteristics, including longevity, resistance to corrosion, density, high tensile strength, malleability, and ductility. The need for one-of-a-kind wheels to complement the growing number of hybrid electric vehicle types is also skyrocketing.
In addition to rising vehicle production, factors driving market expansion include the increasing popularity of aluminum vehicles among light commercial vehicles, rising demand for hybrid electric automobile models, tightening regulations governing fuel economy, rising sales of passenger cars in response to consumers' shifting tastes, and the growing popularity of small and medium-sized sport utility vehicles. In addition, during the aforementioned forecast period, new opportunities will arise for the automotive wheels aftermarket market due to the increasing use of advanced materials and new compositions in wheels, as well as the increasing research and development activities, and the increasing modernization and technological advancements in the products offered on the market.
Report Coverage
Global Automotive Wheels Aftermarket research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive Wheels Aftermarket report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive Wheels Aftermarket competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive Wheels Aftermarket market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AEZ Leichtmetallräde, ALLOY WHEEL REPAIR SPECIALISTS, LLC, Arconic, Automotive Wheels Ltd, BBS Kraftfahrzeugtechnik, Beyern Wheels, Borbet GmbH, CMWheels, ENKEI CORPORATION, Forgiato, Jian Sin Industrial Co. Ltd., KONIG AMERICAN, LKQ Corporation, MAXION Wheels Inc., O.Z. S.p.A., RAYS Co. Ltd, RONAL GROUP, Tanabe USA Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive Wheels Aftermarket Market from 2021 to 2030.
- Market Forecast for Automotive Wheels Aftermarket Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive Wheels Aftermarket competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive Wheels Aftermarket
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive Wheels Aftermarket market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive Wheels Aftermarket market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
AEZ Leichtmetallräde, ALLOY WHEEL REPAIR SPECIALISTS, LLC, Arconic, Automotive Wheels Ltd, BBS Kraftfahrzeugtechnik, Beyern Wheels, Borbet GmbH, CMWheels, ENKEI CORPORATION, Forgiato, Jian Sin Industrial Co. Ltd., KONIG AMERICAN, LKQ Corporation, MAXION Wheels Inc., O.Z. S.p.A., RAYS Co. Ltd, RONAL GROUP, Tanabe USA Inc.
Primary Target Market
- Market Players of Automotive Wheels Aftermarket
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive Wheels Aftermarket market based on the below-mentioned segments:
Global Automotive Wheels Aftermarket Market, By Vehicle Type
Passenger Cars
Commercial Vehicles
Global Automotive Wheels Aftermarket market, By Type
New Wheel Replacement
Refurbished Wheel Fitment
Global Automotive Wheels Aftermarket Market, By Material Type
Alloy
Steel
Others
Global Automotive Wheels Aftermarket market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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