Global Automotive Wheels Aftermarket Industry Size Study, by Aftermarket, by Vehicle, by Coating, Material, by Rim Size, by Product, Distribution, and Regional Forecasts 2022-2032

Description

The Global Automotive Wheels Aftermarket Industry is undergoing significant expansion, driven by evolving consumer preferences, advancements in wheel technology, and a growing emphasis on vehicle customization. In 2023, the market was valued at approximately USD 3.52 billion, with projections indicating a steady compound annual growth rate (CAGR) of 3.50% from 2024 to 2032, reaching an estimated valuation of USD 4.80 billion by 2032. The rising demand for performance-oriented, aesthetically appealing, and lightweight wheels is fueling growth in the aftermarket segment, as vehicle owners increasingly seek customization options beyond factory-fitted wheels.

The demand for aftermarket wheels is largely propelled by factors such as increasing vehicle ownership, the surge in demand for aesthetic modifications, and the growing replacement of worn-out or damaged wheels. Modern wheel designs emphasize not only visual appeal but also performance enhancement, with materials such as aluminum alloys, carbon fiber, and advanced coatings being introduced to improve durability, weight reduction, and corrosion resistance. Additionally, the trend toward lightweight wheels to enhance fuel efficiency and driving dynamics is gaining momentum across both passenger cars and commercial vehicles.

The industry is also benefiting from a surge in refurbishing services, where consumers opt to refinish, repaint, or customize their existing wheels rather than replace them entirely. This segment is particularly attractive to budget-conscious consumers who wish to achieve a refreshed vehicle look at a lower cost. Additionally, the emergence of smart wheel technologies, including embedded sensors for tire pressure monitoring and enhanced aerodynamics, is expected to further reshape the automotive wheels aftermarket landscape.

One of the key challenges impeding market growth is the prevalence of counterfeit and low-quality aftermarket wheels, which pose safety risks and reduce consumer trust in aftermarket products. Additionally, the high costs of premium materials such as forged aluminum and carbon fiber wheels can deter mass adoption. However, increasing consumer awareness regarding wheel safety, performance optimization, and energy efficiency is expected to mitigate these challenges over time.

The regional outlook for the automotive wheels aftermarket industry presents a diversified growth pattern. North America remains a stronghold for aftermarket customization, with consumers actively investing in wheel upgrades for performance vehicles, off-road applications, and luxury modifications. Europe, with its robust automotive heritage, continues to witness a rising demand for high-performance and lightweight wheels, particularly in Germany, the UK, and France. However, the Asia-Pacific region is projected to witness the fastest growth, fueled by rising vehicle ownership, expanding e-commerce sales for automotive components, and an increasing number of aftermarket service providers. China and India, in particular, are poised to become major hubs for aftermarket wheels, given the surge in urbanization and consumer spending on vehicle modifications.

Major Market Players Included in This Report:

BBS Kraftfahrzeugtechnik AG
Borbet GmbH
Ronal Group
Enkei Wheels
OZ S.p.A.
TSW Alloy Wheels
American Racing Equipment Inc.
Forgeline Motorsports
MHT Luxury Wheels
Konig Wheels
Vossen Wheels
SSR Wheels
HRE Performance Wheels
Rays Engineering
Fuel Off-Road Wheels

The Detailed Segments and Sub-Segments of the Market Are Explained Below:

By Aftermarket:

New Wheel Replacement
Refurbished Wheel Fitment

By Vehicle:

Passenger Cars (PC)
Commercial Vehicles (CV)

By Coating & Material:

Powder Coating
Liquid Coating
Alloy Wheels
Carbon Fiber Wheels
Steel Wheels

By Rim Size:

13-15 Inch
16-18 Inch
19-21 Inch
Above 21 Inch

By Product & Distribution:

Multi-Piece Wheels
One-Piece Wheels
Online Retail
Offline Retail

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study:

Historical Year: 2022, 2023
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Market estimates & forecasts for 10 years (2022-2032).
Annualized revenue projections with detailed regional-level analysis.
In-depth analysis of market segments, consumer behavior, and industry trends.
Strategic recommendations for market participants, including growth strategies and investment opportunities.
Competitive landscape evaluation with key player insights.
Demand-side and supply-side analysis to understand market dynamics.

Chapter 1. Global Automotive Wheels Aftermarket Industry Executive Summary

1.1. Global Automotive Wheels Aftermarket Industry Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. {By Aftermarket}
- 1.3.2. {By Vehicle}
- 1.3.3. {By Coating & Material}
- 1.3.4. {By Rim Size}
- 1.3.5. {By Product & Distribution}
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Automotive Wheels Aftermarket Industry 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 Automotive Wheels Aftermarket Industry Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Vehicle Ownership
- 3.1.2. Demand for Performance & Aesthetic Customization
- 3.1.3. Advancements in Wheel Technology
3.2. Market Challenges
- 3.2.1. Prevalence of Counterfeit and Low-Quality Wheels
- 3.2.2. High Costs of Premium Materials
3.3. Market Opportunities
- 3.3.1. Growth in Refurbishing Services
- 3.3.2. Emergence of Smart Wheel Technologies
- 3.3.3. Expanding Aftermarket in Asia-Pacific

Chapter 4. Global Automotive Wheels Aftermarket 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 Automotive Wheels Aftermarket Industry Size & Forecasts by Aftermarket 2022-2032

5.1. Segment Dashboard
5.2. Global Automotive Wheels Aftermarket Industry: {Aftermarket} Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. New Wheel Replacement
- 5.2.2. Refurbished Wheel Fitment

Chapter 6. Global Automotive Wheels Aftermarket Industry Size & Forecasts by Vehicle 2022-2032

6.1. Segment Dashboard
6.2. Global Automotive Wheels Aftermarket Industry: {Vehicle} Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Passenger Cars (PC)
- 6.2.2. Commercial Vehicles (CV)

Chapter 7. Global Automotive Wheels Aftermarket Industry Size & Forecasts by Coating & Material 2022-2032

7.1. Segment Dashboard
7.2. Global Automotive Wheels Aftermarket Industry: {Coating & Material} Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 7.2.1. Powder Coating
- 7.2.2. Liquid Coating
- 7.2.3. Alloy Wheels
- 7.2.4. Carbon Fiber Wheels
- 7.2.5. Steel Wheels

Chapter 8. Global Automotive Wheels Aftermarket Industry Size & Forecasts by Rim Size 2022-2032

8.1. Segment Dashboard
8.2. Global Automotive Wheels Aftermarket Industry: {Rim Size} Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 8.2.1. 13-15 Inch
- 8.2.2. 16-18 Inch
- 8.2.3. 19-21 Inch
- 8.2.4. Above 21 Inch

Chapter 9. Global Automotive Wheels Aftermarket Industry Size & Forecasts by Product & Distribution 2022-2032

9.1. Segment Dashboard
9.2. Global Automotive Wheels Aftermarket Industry: {Product & Distribution} Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 9.2.1. Multi-Piece Wheels
- 9.2.2. One-Piece Wheels
- 9.2.3. Online Retail
- 9.2.4. Offline Retail

Chapter 10. Global Automotive Wheels Aftermarket Industry Size & Forecasts by Region 2022-2032

10.1. North America Automotive Wheels Aftermarket Industry
- 10.1.1. U.S. Automotive Wheels Aftermarket Industry
  - 10.1.1.1. {Aftermarket} breakdown size & forecasts, 2022-2032
  - 10.1.1.2. {Vehicle} breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Automotive Wheels Aftermarket Industry
10.2. Europe Automotive Wheels Aftermarket Industry
- 10.2.1. U.K. Automotive Wheels Aftermarket Industry
- 10.2.2. Germany Automotive Wheels Aftermarket Industry
- 10.2.3. France Automotive Wheels Aftermarket Industry
- 10.2.4. Spain Automotive Wheels Aftermarket Industry
- 10.2.5. Italy Automotive Wheels Aftermarket Industry
- 10.2.6. Rest of Europe Automotive Wheels Aftermarket Industry
10.3. Asia-Pacific Automotive Wheels Aftermarket Industry
- 10.3.1. China Automotive Wheels Aftermarket Industry
- 10.3.2. India Automotive Wheels Aftermarket Industry
- 10.3.3. Japan Automotive Wheels Aftermarket Industry
- 10.3.4. Australia Automotive Wheels Aftermarket Industry
- 10.3.5. South Korea Automotive Wheels Aftermarket Industry
- 10.3.6. Rest of Asia-Pacific Automotive Wheels Aftermarket Industry
10.4. Latin America Automotive Wheels Aftermarket Industry
- 10.4.1. Brazil Automotive Wheels Aftermarket Industry
- 10.4.2. Mexico Automotive Wheels Aftermarket Industry
- 10.4.3. Rest of Latin America Automotive Wheels Aftermarket Industry
10.5. Middle East & Africa Automotive Wheels Aftermarket Industry
- 10.5.1. Saudi Arabia Automotive Wheels Aftermarket Industry
- 10.5.2. South Africa Automotive Wheels Aftermarket Industry
- 10.5.3. Rest of Middle East & Africa Automotive Wheels Aftermarket Industry

Chapter 11. Competitive Intelligence

11.1. Key Company SWOT Analysis
- 11.1.1. BBS Kraftfahrzeugtechnik AG
- 11.1.2. Borbet GmbH
- 11.1.3. Ronal Group
11.2. Top Market Strategies
11.3. Company Profiles
- 11.3.1. BBS Kraftfahrzeugtechnik AG
  - 11.3.1.1. Key Information
  - 11.3.1.2. Overview
  - 11.3.1.3. Financial (Subject to Data Availability)
  - 11.3.1.4. Product Summary
  - 11.3.1.5. Market Strategies
- 11.3.2. Borbet GmbH
- 11.3.3. Ronal Group
- 11.3.4. Enkei Wheels
- 11.3.5. OZ S.p.A.
- 11.3.6. TSW Alloy Wheels
- 11.3.7. American Racing Equipment Inc.
- 11.3.8. Forgeline Motorsports
- 11.3.9. MHT Luxury Wheels
- 11.3.10. Konig Wheels
- 11.3.11. Vossen Wheels
- 11.3.12. SSR Wheels
- 11.3.13. HRE Performance Wheels
- 11.3.14. Rays Engineering
- 11.3.15. Fuel Off-Road Wheels

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes