According to Cognitive Market Research, the global Alloy Wheels market size will be USD 18548.2 million in 2024. It will expand at the compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 7419.28 million in 2024 and will grow at the compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5564.46 million.
Asia Pacific held a market share of around 23% of the global revenue with the market size of USD 4266.09 million in 2024 and will grow at the compound annual growth rate (CAGR) of 9.0% from the year 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with the market size of USD 927.41 million in 2024 and will grow at the compound annual growth rate (CAGR) of 6.4% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 370.96 million in 2024 and will grow at the compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The passenger vehicle held the highest Alloy Wheels market revenue share in 2024.
