How big is the Automotive Wheel Market?

The Automotive Wheel Market size is expected to reach USD 37.94 billion in 2024 and grow at a CAGR of 6.5% to reach USD 51.97 billion by 2029. Read More

What is the current Automotive Wheel Market size?

In 2024, the Automotive Wheel Market size is expected to reach USD 37.94 billion. Read More

Who are the key players in Automotive Wheel Market?

Enkei International, Inc., Accuride Corporation, BORBET GmbH, Iochpe Maxion SA and TOPY INDUSTRIES LIMITED are the major companies operating in the Automotive Wheel Market. Read More

Which is the fastest growing region in Automotive Wheel Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Wheel Market?

In 2024, the Asia Pacific accounts for the largest market share in Automotive Wheel Market. Read More

What years does this Automotive Wheel Market cover, and what was the market size in 2023?

In 2023, the Automotive Wheel Market size was estimated at USD 35.47 billion. The report covers the Automotive Wheel Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Wheel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key considerations for companies entering the Global Automotive Wheel Market?

The key considerations for companies entering the Global Automotive Wheel Market are a) Regional regulations b) Competition analysis c) Establishing strong distribution networks Read More

What are the sustainability initiatives being undertaken by Automotive Wheel manufacturers?

The sustainability initiatives being undertaken by Automotive Wheel manufacturers are a) Recycled materials b) Lightweight designs for fuel efficiency c) Environmentally responsible manufacturing processes Read More

What are the key considerations for companies entering the Global Automotive Wheel Market?

The key considerations for companies entering the Global Automotive Wheel Market are a) Regional regulations b) Competition analysis c) Establishing strong distribution networks Read More

Automotive Wheel Market - Industry Size, Share & Trends

Automotive Wheel Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Automotive Wheel Rims Market Report is Segmented by Vehicle Type (Passenger Car and Commercial Vehicle), Material Type (Steel, Alloy, and Carbon Fiber), Sales Channel (OEM and Aftermarket), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Sizes and Forecasts for all the Above Segments in Terms of Value (USD).

Automotive Wheel Industry Overview

The automotive wheels market is dominated by several key players, such as Superior Industries, Enkei Wheels, HRE Wheels, and Borbet GmbH. Companies invest in R&D continuously to innovate new products and technologies. Advances in materials and manufacturing technology drive the automotive wheels market. By adopting new design tools and materials, manufacturers can include the latest features. Some are upgrading facilities to keep up with demand, resulting in significant market growth. For instance,

In September 2023, UNO Minda, a leading manufacturer of automotive components, joined hands with Kosei Aluminum to introduce a new range of alloy wheels in the Indian aftermarket. This strategic collaboration was aimed at expanding the company's product portfolio and offering customers a wider choice of high-quality automotive products nationwide. The new alloy wheels are expected to meet the growing demand for premium-quality automotive components among car enthusiasts and industry professionals alike.
In May 2023, Accuride announced that it would add valve-mounted TPMS-compatible valve stems to its aluminum wheels at no extra cost. This addition will not change the fit and form of the wheel or stem but will enable the wheel to support valve-mounted TPMS sensors, with the valve placement and accessibility staying the same.
In September 2022, Maxion Wheel invested USD 150 million in Germany. Through this investment, the company expanded its commercial vehicle wheel portfolio across Europe.