Automotive Wheel Rims Market Growth, Trends, Share, Size, Forecast to 2027

[Ajit B]

Automotive Wheel Rims Industry Highlights

GlobalAutomotive Wheel Rims Market is anticipated to register a CAGR of 4% between2020 and 2026 and reach an approximate value of USD 45 Billion in 2026. Awheel rim is a part of the wheel, which is designed to hold the tire. Wheelrims need to be strong enough to bear vehicle weight and withstand forcesgenerated by motion. Materials that are used to produce wheels have becomesophisticated, and steel, non-ferrous alloys, Aluminum, and Magnesium are themost common. Alloy wheels are gaining popularity due to their appearance aswell as low weight as compared to steel wheels. Aluminum acts as a conductor ofheat, and alloy wheels dissipate heat from tires and brakes more effectivelythan steel wheels. Wheel rims mainly affect the braking of a vehicle. Therehave been tremendous developments in the wheel rims industry during the lastcouple of years.

In2019, Asia-Pacific Contributed Significantly to the Automotive WheelRims industry in Terms of Share: MRFR

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Basedon region, the global automotivewheel rims market trend is segmented into North America, Europe,Asia-Pacific, and the rest of the world. Asia-Pacific accounts for a majorshare of the global automotive wheel rims market, owing to the high adoption ofautomotive wheel rims by the booming automotive sector in the region,especially in China and India. The automotive wheel rims market is segmentedbased on size, material, end user, and region. Based on size, the globalautomotive wheel rims market has been segmented into 13-15-inch, 16-18-inch,19-21-inch, and >21 inches. Based on material, the automotive wheel rimsmarket has been segmented into steel, alloy, and carbon fiber. The alloymaterial segment held a significant share and is anticipated to grow at a highrate during the forecast period due to the consumers’ increasing preference.They are highly preferred due to benefits such as being lightweight, improvingthe vehicle-handling dynamics, and enabling compliance with stringent emissionnorms. By end users, the global automotive wheel rims market has beenbifurcated into OEM and aftermarket. The OEM end-user segment held asignificant share in the global market in 2019.

GlobalAutomotiveWheel Rims Market growth is anticipated to register a CAGR of 4%between 2020 and 2026 and reach an approximate value of USD 45 Billion by 2026.

Scope of the Report

Thisreport provides an in-depth analysis of the global automotive wheelrims market, tracking three market segments acrossfour geographic regions. The report studies key players, providing a five-yearannual trend analysis that highlights the Automotive Wheel Rims Market size andshares for North America, Europe, Asia-Pacific, and the rest of the world. Thereport also presents a forecast, focusing on the market opportunities for thenext five years for each region. The scope of the study segments the globalautomotive wheel rims market by size, material, end-user, and region.

Size
13-15 Inch

16-18Inch

19-21Inch

>21Inches

Material
Steel

Alloy

CarbonFiber

End-user
OEM

Aftermarket

By Region
North America

Asia-Pacific

Europe

Restof the World

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Key Players

Keyplayers in the global automotive wheel rims market are Accuride Corporation(US), Iochpe-Maxion (Brazil), Steel Strips Wheels (India), Superior IndustriesInternational (US), Hitachi Metals (Japan), Enkei (Japan), CiticDicastal(China), Borbet (Germany), Zhejiang Wanfeng Auto Wheel (China), Mefro Wheels(Germany), and Mangels Industrial (Brazil), among others.

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