Market Share of Automotive Wheel Industry
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.
Automotive Wheel Market Leaders
-
Enkei International, Inc.
-
Accuride Corporation
-
BORBET GmbH
-
Iochpe Maxion SA
-
TOPY INDUSTRIES LIMITED
*Disclaimer: Major Players sorted in no particular order
