Global Alloy Wheels Market Size Study, by Material Type, by Type, by Rim Size, by Vehicle Type, and Regional Forecasts 2022-2032

Description

The Global Alloy Wheels Market, valued at approximately USD 19.85 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2032. Alloy wheels, known for their lightweight and high strength-to-weight ratio, are increasingly utilized in various vehicles, including passenger cars, sports cars, and light commercial vehicles. These wheels, typically made from aluminum alloys, offer superior corrosion resistance, enhanced high-speed stability, and reduced wear, making them a preferred choice among consumers.

The significant growth in the alloy wheels market is driven by factors such as the increasing demand for lightweight, fuel-efficient vehicles and the rising consumer preference for stylish and customized automobiles. The automotive sector's expansion, particularly in emerging markets like China, India, and Brazil, further fuels the demand for alloy wheels. However, the high cost of alloy wheels may limit their adoption among budget-conscious consumers, posing a challenge to market growth. The Global Alloy Wheels Market is driven by the increasing demand for lightweight and fuel-efficient vehicles, as alloy wheels are known for their lighter weight compared to steel wheels, which enhances vehicle performance and fuel efficiency. The rise in consumer preference for aesthetically appealing and high-performance vehicles also fuels market growth, as alloy wheels offer a stylish appearance and better heat dissipation. However, the market faces restraints due to the higher cost of alloy wheels compared to traditional steel wheels, which may limit their adoption in cost-sensitive markets. Opportunities in the market include advancements in manufacturing technologies, such as the development of stronger and lighter alloys, and the growing demand for electric vehicles, which prioritize weight reduction to extend battery range, further boosting the demand for alloy wheels.

The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America led the Global Alloy Wheels Market in 2023, while the Asia-Pacific region is expected to witness rapid growth during the forecast period. This growth is driven by the booming automotive industry in China and India, where increasing population and rising income levels are leading to higher demand for vehicles and, consequently, alloy wheels.

Major market players included in this report are:

MHT Luxury Wheels
CITIC Dicastal Wheel Manufacturing Co.
TSW Alloy Wheels
RONAL GROUP
Fuel Off-Road Wheels
BORBET GmbH
Superior Industries International, Inc.
Stamford Sport Wheels
MAXION Wheels
Enkei Corporation
Steel Strips Wheels Ltd (SSWL)
Fondmetal S.p.A.
RAYS Co., Ltd.
Zhejiang Wanfeng Auto Wheel Co., Ltd.
Topy Industries, Ltd.

The detailed segments and sub-segment of the market are explained below:

By Material Type

Magnesium Alloy
Aluminum Alloy
Titanium Alloy

By Type

Forging
Casting
Others

By Rim Size

12 Inches - 17 Inches
18 Inches - 21 Inches
More than 22 Inches

By Vehicle Type

Passenger Vehicle
Commercial Vehicle

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Alloy Wheels Market Executive Summary

1.1. Global Alloy Wheels Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Material Type
- 1.3.2. By Type
- 1.3.3. By Rim Size
- 1.3.4. By Vehicle Type
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Alloy Wheels Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Alloy Wheels Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Lightweight and Fuel-Efficient Vehicles
- 3.1.2. Growth of the Automotive Sector in Emerging Economies
3.2. Market Challenges
- 3.2.1. High Costs of Alloy Wheels
- 3.2.2. Limited Adoption Among Budget-Conscious Consumers
3.3. Market Opportunities
- 3.3.1. Expanding Customization Trends in the Automotive Industry
- 3.3.2. Increasing Demand in Emerging Economies

Chapter 4. Global Alloy Wheels Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Alloy Wheels Market Size & Forecasts by Material Type 2022-2032

5.1. Segment Dashboard
5.2. Global Alloy Wheels Market: Material Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Magnesium Alloy
- 5.2.2. Aluminum Alloy
- 5.2.3. Titanium Alloy

Chapter 6. Global Alloy Wheels Market Size & Forecasts by Type 2022-2032

6.1. Segment Dashboard
6.2. Global Alloy Wheels Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Forging
- 6.2.2. Casting
- 6.2.3. Others

Chapter 7. Global Alloy Wheels Market Size & Forecasts by Rim Size 2022-2032

7.1. Segment Dashboard
7.2. Global Alloy Wheels Market: Rim Size Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. 12 Inches - 17 Inches
- 7.2.2. 18 Inches - 21 Inches
- 7.2.3. More than 22 Inches

Chapter 8. Global Alloy Wheels Market Size & Forecasts by Vehicle Type 2022-2032

8.1. Segment Dashboard
8.2. Global Alloy Wheels Market: Vehicle Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Passenger Vehicle
- 8.2.2. Commercial Vehicle

Chapter 9. Global Alloy Wheels Market Size & Forecasts by Region 2022-2032

9.1. North America Alloy Wheels Market
- 9.1.1. U.S. Alloy Wheels Market
  - 9.1.1.1. Material Type breakdown size & forecasts, 2022-2032
  - 9.1.1.2. Type breakdown size & forecasts, 2022-2032
  - 9.1.1.3. Rim Size breakdown size & forecasts, 2022-2032
  - 9.1.1.4. Vehicle Type breakdown size & forecasts, 2022-2032
- 9.1.2. Canada Alloy Wheels Market
9.2. Europe Alloy Wheels Market
- 9.2.1. U.K. Alloy Wheels Market
- 9.2.2. Germany Alloy Wheels Market
- 9.2.3. France Alloy Wheels Market
- 9.2.4. Spain Alloy Wheels Market
- 9.2.5. Italy Alloy Wheels Market
- 9.2.6. Rest of Europe Alloy Wheels Market
9.3. Asia-Pacific Alloy Wheels Market
- 9.3.1. China Alloy Wheels Market
- 9.3.2. Japan Alloy Wheels Market
- 9.3.3. India Alloy Wheels Market
- 9.3.4. South Korea Alloy Wheels Market
- 9.3.5. Rest of Asia-Pacific Alloy Wheels Market
9.4. Latin America Alloy Wheels Market
- 9.4.1. Brazil Alloy Wheels Market
- 9.4.2. Argentina Alloy Wheels Market
- 9.4.3. Rest of Latin America Alloy Wheels Market
9.5. Middle East & Africa Alloy Wheels Market
- 9.5.1. Saudi Arabia Alloy Wheels Market
- 9.5.2. South Africa Alloy Wheels Market
- 9.5.3. UAE Alloy Wheels Market
- 9.5.4. Rest of MEA Alloy Wheels Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. MHT Luxury Wheels
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. CITIC Dicastal Wheel Manufacturing Co.
- 10.3.3. TSW Alloy Wheels
- 10.3.4. RONAL GROUP
- 10.3.5. Fuel Off-Road Wheels
- 10.3.6. BORBET GmbH
- 10.3.7. Superior Industries International, Inc.
- 10.3.8. Stamford Sport Wheels
- 10.3.9. MAXION Wheels
- 10.3.10. Enkei Corporation
- 10.3.11. Steel Strips Wheels Ltd (SSWL)
- 10.3.12. Fondmetal S.p.A.
- 10.3.13. RAYS Co., Ltd.
- 10.3.14. Zhejiang Wanfeng Auto Wheel Co., Ltd.
- 10.3.15. Topy Industries, Ltd.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes