Global Automotive Alloy Wheel
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Automotive Alloy Wheel Market Report 2024.
The global Automotive Alloy Wheels market is anticipated to grow significantly, with a projected CAGR of XX% between 2023 and 2031.
North America is expected to hold a major market share of more than XX%, with a market size of USD XX million in 2023, and is forecasted to grow at a CAGR of XX% from 2023 to 2031.
The passenger cars segment held the highest Automotive Alloy Wheels market revenue share in 2023, attributed to the rising consumer preference for personal vehicles equipped with advanced features, including premium alloy wheels, for improved aesthetics and performance.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Type |
|
Market Split by Application |
|
Market Split by End-User |
|
Market Split by Material |
|
Market Split by Vehicle Type |
|
Market Split by Price Range |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Automotive Alloy Wheel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Automotive Alloy Wheel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Automotive Alloy Wheels are crucial components of vehicles, enhancing aesthetics and performance. Made from light metals like aluminium or magnesium, these wheels offer advantages over traditional steel wheels, including reduced weight, improved heat dissipation, and better handling. The market for Automotive Alloy Wheels is propelled by the automotive industry's shift towards lightweight materials to increase fuel efficiency and reduce emissions. Innovations in design and manufacturing have led to a variety of styles and sizes, catering to diverse consumer preferences and vehicle specifications. The demand for alloy wheels is further boosted by the aftermarket sector, where enthusiasts seek to customize their vehicles for improved appearance and performance.
The market for automobile alloy wheels is significantly driven by the growing need for lightweight vehicles, which are intended to improve fuel efficiency and reduce emissions. As a result of the overall mass reduction of the vehicle, lightweight alloy wheels enhance performance and fuel economy. The need to reduce greenhouse gas emissions and increase fuel efficiency has compelled automakers to build lighter vehicles, which in turn has propelled the demand for automotive alloy wheels.
For instance, the U.S. Department of Energy reports that "Reducing a vehicle's weight by 10% can lead to a 6-8% improvement in fuel economy." Automakers are increasingly incorporating alloy wheels into their designs to comply with stringent global fuel efficiency standards, such as the Corporate Average Fuel Economy (CAFE) standards in the United States, which aim to improve the average fuel economy of cars and light-duty trucks.
Numerous services and technologies are being widely adopted by the automobile alloy wheel market. The development of lighter, stronger, and more aesthetically beautiful alloy wheels has been made possible by technological advancements in the industry, including sophisticated casting and forging procedures. As a result, the use of these wheels has risen across a range of vehicle segments. Future exponential growth will be driven by several causes, including advancements in technology, easier access to infrastructure for charging, better product readiness by customer needs, and legislative initiatives that will influence the automotive alloy wheel industry.
For instance, BBS GmbH, a renowned alloy wheel manufacturer, utilizes a patented flow-forming process that enhances the strength and durability of the wheels while minimizing weight. This process, which involves the application of high pressure to the inner barrel of the wheel while spinning, results in wheels that offer superior performance characteristics compared to traditional cast alloy wheels.
The higher production costs associated with alloy wheels, due to the use of premium materials and more complex manufacturing processes, make them more expensive than traditional steel wheels, limiting their adoption among cost-sensitive consumers.
For instance, Blackburn OEM Wheel Solutions, a leading service provider in the alloy wheel repair industry, indicates that the cost of a standard set of alloy wheels can be significantly higher than that of a comparable set of steel wheels, making alloy wheels a less attractive option for budget-conscious vehicle owners.
The market is also challenged by the presence of counterfeit alloy wheels, which are often of inferior quality and pose safety risks. The proliferation of such products not only endangers consumers but also impacts the revenue and reputation of legitimate manufacturers.
For instance, the Automotive Anti-Counterfeiting Council (A2C2), an initiative aimed at combating counterfeit automotive parts, has highlighted numerous instances where counterfeit alloy wheels failed under normal driving conditions, leading to accidents and injuries. The council's efforts to raise awareness and enforce stricter regulations underscore the severity of the issue.
The COVID-19 pandemic has led to significant disruptions in the global supply chain, affecting the production and distribution of automotive alloy wheels. Lockdowns and manufacturing halts have delayed the delivery of essential raw materials and components, impacting production schedules and market supply.
For instance, the International Organization of Motor Vehicle Manufacturers (OICA) reported a substantial decline in global vehicle production in 2020, attributing part of this downturn to supply chain disruptions caused by the pandemic. These disruptions had a cascading effect on the alloy wheels market, delaying the manufacturing and delivery of new vehicles equipped with alloy wheels.
We have various report editions of Automotive Alloy Wheel Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The competitive landscape of the Automotive Alloy Wheels market is characterized by the presence of several key players who engage in strategic initiatives such as product innovations, technological advancements, and strategic partnerships to strengthen their market position. Companies invest heavily in research and development to introduce high-performance and aesthetically appealing alloy wheels, catering to both OEM and aftermarket sectors. The market is also marked by collaborations between wheel manufacturers and automotive companies to develop custom solutions for new vehicle models. Quality, brand reputation, and distribution networks play significant roles in maintaining competitiveness in this dynamic market environment.
For instance, Economic Times reports that, Die-cast 2W alloy wheels will be produced by ASK Auto in collaboration with Taiwan's LIOHO - According to the company, its goal is to design, develop, and produce premium alloy wheels starting in Q4 of FY25, which it will then sell straight to OEMs.
For instance, Times of India reports that, in partnership with Japanese alloy wheel designer and producer Kosei Aluminium Co. Ltd., Uno Minda has launched a new premium collection of alloy wheels in the Indian aftermarket. The latest line of Uno Minda alloy wheels comes in a choice of sizes and styles, and they work with both conventional and radial tube tires.
Top Companies Market Share in Automotive Alloy Wheel Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Region and country analysis section of Automotive Alloy Wheel Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Automotive Alloy Wheel market.
The current report Scope analyzes Automotive Alloy Wheel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Automotive Alloy Wheel Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Alloy Wheel Industry growth. Automotive Alloy Wheel market has been segmented with the help of its Type, Application End-User, and others. Automotive Alloy Wheel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, forged alloy wheels hold the major market share during 2023 due to their superior performance characteristics. For instance, Porsche has reported that using forged alloy wheels can reduce a vehicle's unsprung weight, enhancing handling and fuel efficiency. The brand's commitment to performance through lightweight design underscores the demand for forged wheels in the high-performance vehicle segment.
Cast alloy wheels are the fastest-growing category, driven by advancements in casting technology that improve quality and reduce costs. For instance, Toyota has adopted advanced casting techniques for its alloy wheels, allowing for intricate designs and improved strength without a significant price increase. This approach has made cast alloy wheels more accessible and desirable to a wider range of consumers.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Alloy Wheel Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the passenger cars segment dominates the Automotive Alloy Wheels market while accounting for XX% market share in 2023. Passenger cars segment is growing at XX% CAGR, supported by the widespread use of alloy wheels in new car models. For example, Honda offers alloy wheels as standard equipment on many of its models, citing benefits such as improved aesthetics and performance. This trend is reflective of the broader industry move towards alloy wheels in passenger vehicles.
Commercial vehicles are experiencing rapid growth in the use of alloy wheels, particularly in the logistics and transportation sectors. Companies like Mercedes-Benz have started equipping their commercial vehicle fleets with alloy wheels to reduce weight and improve fuel efficiency, demonstrating the segment's growing importance.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the OEMs segment leads the Automotive Allow Wheels market with XX% market share in 2023. OEMs segment is growing at XX% CAGR, with automakers increasingly partnering with alloy wheel manufacturers. Ford, for example, collaborates closely with wheel suppliers to design custom alloy wheels that enhance the appearance and performance of their vehicles directly from the factory.
The aftermarket segment's growth is exemplified by the success of companies like BBS GmbH, known for their high-quality aftermarket alloy wheels. Their partnerships with racing teams and presence in motorsport events highlight the demand for performance-oriented alloy wheels in the aftermarket sector.
Aluminium alloy wheel is the dominating segment, favoured for their balance of performance and cost. Alcoa Corporation, a leading aluminium supplier, reports increasing demand from automakers for their lightweight aluminium alloys, used to manufacture wheels that contribute to overall vehicle efficiency and performance.
Magnesium alloy wheels are growing rapidly, especially in specialized automotive sectors. Koenigsegg, a manufacturer of high-performance sports cars, utilizes magnesium wheels for their extreme lightness and strength, showcasing the material's potential in enhancing vehicle performance.
According to Cognitive Research, based on the vehicle type, SUV segment dominated the market in the year 2023. The SUV segment's preference for alloy wheels is evident in models like the Range Rover Sport, which offers a range of alloy wheel designs to complement its luxury and performance. This choice reflects the broader consumer trend towards equipping SUVs with premium alloy wheels for an optimal balance of function and style.
Compact vehicles are seeing a surge in alloy wheel adoption, driven by models like the Volkswagen Golf, which features stylish alloy wheels even in its standard trims. This move by VW illustrates the growing expectation among compact car buyers for high-quality, aesthetically pleasing wheels.
According to Cognitive Research, based on the price range, the premium segment accounted for the largest share of the market in the year 2023. The premium segment's strength is supported by luxury brands like Lamborghini, which offers bespoke alloy wheels as part of their customization program. These wheels, designed for exclusivity and performance, highlight the demand for high-end alloy wheels among affluent consumers.
The mid-range category's growth is highlighted by the popularity of brands like Enkei Wheels, which offers high-quality alloy wheels at accessible price points. Their products cater to enthusiasts seeking a balance between performance, quality, and affordability, driving the segment's expansion.
Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Automotive Alloy Wheel Market is witnessing significant growth in the near future.
In 2023, the Cast segment accounted for noticeable share of global Automotive Alloy Wheel Market and is projected to experience significant growth in the near future.
The Passenger Cars segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies BBS GmbH , Ronal AG and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Cast, Forged, Others |
Application | Passenger Cars, Commercial Vehicles |
End-User | OEMs (Original Equipment Manufacturers), Aftermarket |
Material | Aluminium, Magnesium, Others |
Vehicle Type | Compact, Mid-sized, SUVs (Sport Utility Vehicles), Others |
Price Range | Economy, Mid-Range, Premium |
List of Competitors | BBS GmbH, Enkei Wheels, Ronal AG, Borbet GmbH, Alcoa Corporation, Vossen Wheels, OZ S.p.A., Konig Wheels, TSW Alloy Wheels, American Racing |
This chapter will help you gain GLOBAL Market Analysis of Automotive Alloy Wheel. Further deep in this chapter, you will be able to review Global Automotive Alloy Wheel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by End-User Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Material Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 14 Market Split by Vehicle Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 15 Market Split by Price Range Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Alloy Wheel market
Chapter 16 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Cast have a significant impact on Automotive Alloy Wheel market? |
What are the key factors affecting the Cast and Forged of Automotive Alloy Wheel Market? |
What is the CAGR/Growth Rate of Passenger Cars during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Alloy Wheel Market? |
Which region is expected to dominate the global Automotive Alloy Wheel Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Automotive Alloy Wheel Market
Request Sample