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Automotive Wheel - Global Market Trajectory & Analytics

  • ID: 4804382
  • Report
  • February 2022
  • Region: Global
  • 406 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Accuride Corporation
  • Borbet GmbH
  • Enkei Corporation
  • HRE Performance Wheels
  • Mangels Industrial
  • Steel Strips Wheels Ltd.

Global Automotive Wheel Market to Reach $45.3 Billion by 2027


Amid the COVID-19 crisis, the global market for Automotive Wheel estimated at US$31.1 Billion in the year 2020, is projected to reach a revised size of US$45.3 Billion by 2027, growing at a CAGR of 5.5% over the analysis period 2020-2027. Steel, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$14.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Alloys segment is readjusted to a revised 5.5% CAGR for the next 7-year period.



The U.S. Market is Estimated at $5.8 Billion, While China is Forecast to Grow at 8% CAGR


The Automotive Wheel market in the U.S. is estimated at US$5.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.8 Billion by the year 2027 trailing a CAGR of 8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 3.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Other Materials Segment to Record 6.2% CAGR


In the global Other Materials segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.4 Billion in the year 2020 will reach a projected size of US$6.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.4 Billion by the year 2027, while Latin America will expand at a 6.8% CAGR through the analysis period.

Select Competitors (Total 127 Featured) -

  • Accuride Corporation
  • Alcar Holding Gmbh
  • Borbet GmbH
  • Citic Dicastal Co., Ltd.
  • Enkei Corporation
  • Hitachi Metals Ltd.
  • HRE Performance Wheels
  • Iochpe-Maxion S.A.
  • Mangels Industrial
  • Ronal AG
  • Steel Strips Wheels Ltd.
  • Superior Industries International
  • ThyssenKrupp AG
  • Topy Industries, Ltd.
  • Vossen Wheels
  • Zhejiang Wanfeng Auto Wheel
Frequently Asked Questions about the Global Market for Automotive Wheel

What is the estimated value of the Global Market for Automotive Wheel?

The Global Market for Automotive Wheel was estimated to be valued at $31.1 Billion in 2020.

What is the growth rate of the Global Market for Automotive Wheel?

The growth rate of the Global Market for Automotive Wheel is 5.5%, with an estimated value of $45.3 Billion by 2027.

What is the forecasted size of the Global Market for Automotive Wheel?

The Global Market for Automotive Wheel is estimated to be worth $45.3 Billion by 2027.

Who are the key companies in the Global Market for Automotive Wheel?

Key companies in the Global Market for Automotive Wheel include Accuride Corporation, Alcar Holding Gmbh, Borbet GmbH, Citic Dicastal Co., Ltd., Enkei Corporation, Hitachi Metals Ltd., HRE Performance Wheels, Iochpe and Mangels Industrial.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accuride Corporation
  • Borbet GmbH
  • Enkei Corporation
  • HRE Performance Wheels
  • Mangels Industrial
  • Steel Strips Wheels Ltd.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • A Review of the Changing Automobile Business Models & the Growing Role of Innovative Component Suppliers
  • Wheel Manufacturers Take Over With Disruptive Innovations that Bring Them to the Fore
  • A Large Automotive Components Market Catalyzes the Role of Suppliers & Pushes Up the Importance of Innovation: Global Auto Parts Manufacturing Opportunity (In US$ Billion) for the Years 2017, 2019, 2022, and 2024
  • Effervescent Automotive R&D Spending Bodes Well for Innovation-Induced Market Expansion of Wheel Systems: Global Automotive R&D Spending (In US$ Billion) for the Years 2015, 2018 and 2020
  • A Review of the Engineering Importance of Wheel Structure in an Automobile
  • Automotive Wheel – Global Key Competitors Percentage Market Share in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Although Beset With Twists, Turns & Bumps, the Generally Healthy Automobile Production Trend to Spur Growth in the OEM Market
  • Busy Assembly Line Especially in Asia Keeps the Automotive Supply Chain Well Oiled With New Opportunities: Global Passenger Cars Production (In Million Units) by Geographic Region/Country for the Years 2017, 2019, 2022
  • Affluent Middle Class in Asia to Benefit Vehicle Ownership Patterns
  • With 64% of the World Middle Class Population by 2030, Asia-Pacific Ranks as an Important Market for Automotive Components: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Expanding Base of Middle Class in the Asian Region Sets the Stage for Automotive Consumerism: Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • The Changing Automotive Aftermarket Brings In a Rich Mixture of Opportunities & Challenges for Independent Parts Manufacturers
  • Independent Part Suppliers Have Ample Opportunity to Tap in the US$847 Billion Auto Aftermarket: Global Automotive Aftermarket (In US$ Billion) by Region for the Years 2019 & 2030
  • Customized Aftermarket Wheels Grow in Demand as Car Owners Eye Aesthetics
  • Pothole Epidemic Increase the Frequency of Wheel/Rim Replacements in the Aftermarket
  • Engineering Focus Shed on Lightweighting, a Key Trend Driving Material Innovation
  • Growing Consumption of Aluminum in Vehicle Manufacturing to Spur Adoption of Aluminium Alloy Wheels: Aluminum Content Per Vehicle (in lbs.) for the Years 2000, 2010, 2019 and 2029
  • Newer Materials Like Alloys to Witness Robust Long-Term Growth
  • With the Fastest Growth, Carbon Fiber is On Course to Achieving Mainstream Adoption
  • 3D Printing to Revolutionize Wheel Design
  • A Review of Major Raw Material Prices
  • Increasing Aluminum Prices Squeeze the Margins of Aluminum Wheel Manufacturers: Aluminum Price in US$/Ton for the Years 2015, 2017 and 2019E
  • Softening of Steel Prices Due to Slowdown in Infrastructure & Construction Bring Relief to Steel Wheel Manufacturers: Global Hot Rolled Coil (HRC) Steel Prices (In US$ Per Metric Ton) for the Years 2018, 2019 and 2020

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

INDIA

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

AFRICA

  • Automotive Wheel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 127
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Accuride Corporation
  • Alcar Holding Gmbh
  • Borbet GmbH
  • Citic Dicastal Co., Ltd.
  • Enkei Corporation
  • Hitachi Metals Ltd.
  • HRE Performance Wheels
  • Iochpe-Maxion S.A.
  • Mangels Industrial
  • Ronal AG
  • Steel Strips Wheels Ltd.
  • Superior Industries International
  • ThyssenKrupp AG
  • Topy Industries, Ltd.
  • Vossen Wheels
  • Zhejiang Wanfeng Auto Wheel
Note: Product cover images may vary from those shown