Automotive Wheel Market Size - By Material, By Vehicle, By Rim Size, By Sales Channel, By Region, Growth Forecast, 2025 – 2034

Automotive Wheel Market Size

The global automotive wheel market was valued at USD 38.3 billion in 2024 and is expected to grow at a CAGR of 5.5% between 2025 and 2034.
 

Technological advancements and innovations in wheel design and raw materials is projected to drive the market. The raw materials such as lightweight alloys and carbon fibre improve the performance and decrease the use of fuel consumption and contribute to reduction of overall weight of vehicles. For example, in 2022 Tesla introduced an idea of weight reduction of the vehicles by decreasing the weight of components of vehicle. Tesla Model Y has 21-inch Uberturbine wheel that weighs more than 38 lbs. These four wheels were replaced by Martian 20-inch MW03 fully forged wheels, the reduction per wheel was noted as 13 lbs.
 

Stringent emission and fuel economy standards are impacting the growth of the automotive wheel market. For instance, in 2020, the European Union committed to reduce the carbon emission by 20% as compared to 1990 greenhouse gas emission level. Increasing consumer inclination toward car individualization is generating the requirement for additional surface treatments such as diamond cut and high gloss paints. Moreover, growing preferences for specified wheels with respect to diameter and material for different vehicles will encourage the development of automotive wheels.
 

Consumers are investing in aftermarket for customization of automotive wheels for the aesthetic appeal. It drives demand for a wide range of wheel designs and finishes, directing the revenue for aftermarket automotive wheel. Millennials are attracted to the new design of wheels, which impacts the overall wheel aftermarket. For example, Neo wheel company manufactures attractive designs for aftermarket alloy wheels such as Hydra, Crystal, Slice, Chocolate, Poison and Surya.
 

Automotive Wheel Market Trends

• The manufacturers are focussing on eco-friendly materials and recyclable wheel designs. For example, BMW Group in Munich declared to use sustainably produced aluminium wheels in 2024. The use of recycled aluminium in wheel production is gaining momentum to reduce environmental impact. The company declared to use cast aluminium wheels produced with 100% green power for its BMW and MINI brands.
   
• The manufacturers are focusing on wheels designs for high-speed driving, sports cars, and off-road vehicles. For instance, in December 2024, American Racing announced the launch of VF557 Sugar Bump wheels with advanced alloy compositions, forged designs, and stronger structures designed to handle the rigors of high-performance driving.
   
• Adoption of advanced manufacturing techniques such as 3D printing and hybrid is going to create an opportunity in the market in the coming 5 years. Hybrid manufacturing processes is cost effective and is done by combining carbon fiber with metals or integrating lightweight alloys to design automotive wheels, the combination offers strength, reduced weight, and aesthetic appeal.
   

Automotive Wheel Market Analysis

Based on material, the automotive wheel market is divided into steel, alloy, carbon fiber and aluminum. The alloy segment held a market share of over 38% and is expected to cross USD 20 billion by 2034.
 

• Alloy material is gaining popularity in sports cars, luxury vehicles, and off-road vehicles as it offers superior strength-to-weight ratios, durability, and performance characteristics. For example, forged aluminum wheels are used in performance cars since they are not only lighter but also more durable and resistant to bending and cracking under stress.
   
• Manufacturers are focusing on using recycled materials to produce alloy wheels. This helps to reduce carbon emissions associated with wheel manufacturing. The demand for sustainable practices is encouraging companies to develop alloy wheels that are easier to recycle. Recycling of products helps the manufacturers to meet environmental regulations and consumer expectations for eco-friendly products.
   
• For instance, in February 2023, RUSAL started using end-of-life aluminum scrap in the production of foundry alloys for the automotive industry. This production enabled RUSAL to achieve a nearly 20% reduction in the full-scope carbon footprint of the resulting new product.
   
• Alloy wheels often have a more appealing and stylish appearance compared to traditional steel wheels. While aesthetics may not be the primary concern in off-highway equipment, a well-designed alloy wheel can still contribute to the overall visual appeal. Due to their lighter weight, alloy wheels can contribute to improved fuel efficiency by reducing the overall weight of the equipment.
   
• Aluminum has an exceptional strength-to-weight ratio that makes it an ideal choice for production of automotive wheels in coming 5 years. It offers remarkable strength as compared to materials such as steel, leading to better performance of vehicle. Forged aluminum wheels are produced under a high-pressure and offer high strength and durability. They are primarily used in performance vehicles such as sports cars and supercars. Strength and lightweight properties are key characteristics for handling and safety owing to cars their exceptional speed, acceleration, and handling. 
   

Based on the vehicles, the automotive wheel market is categorized into passenger cars, commercial vehicles, and off-road vehicles. The passenger car segment dominates the market accounting for market share of 64% in 2024.
 

• The rise in demand for sports and performance cars is increasing focus on wheels that enhance the vehicle dynamics. Lightweight and durable wheels with high strength-to-weight ratio is needed to meet the requirements of high-performance vehicles. Companies are exploring designs of wheels to enhance aerodynamics to contribute in increasing fuel efficiency.
   
• Increase in adoption of electric vehicles has created opportunity for the emerging companies to design wheels that can meet the unique needs of EVs. Electric vehicles are noiseless compared to traditional gasoline-powered vehicles, which boosts the demand for wheels crafted to reduce road noise and improve the driving experience.
   
• For instance, in March 2024, Fastco Canada, announced the launch of a new product EV06, wheel designed for electric vehicles. The wheels are designed cutting-edge technology to enhance range and performance. EV06 is a lightweight wheel and is important for EVs to maximize range, while aerodynamic and low-rolling-resistance designs are gaining prominence.
   
• The light commercial vehicles (LCV) gained more than 20% of the automotive wheel market share during 2021 to 2023 on account of increasing transportation and logistics activities. Companies such as Amazon, FedEx, and UPS are major drivers for the growth of light commercial vehicles for delivery purposes which is related to increase the market revenue for automotive wheel.
   

Based on rim size, the automotive wheel market is segmented into 13–15 inches, 16–18 inches and more than 19 inches. The 16-18 inches segment held a market share of 50% in 2024.
 

• The 16–18-inch rim size dominates the automotive wheel market during the forecast period. The segment is expected to hold a substantial share as it provides better performance and comfort. For instance, in October 2023, The Tata Harrier offered ten variants. The entry-level variants is offered with 17-inch alloy wheels wrapped with 235/65 R17 Apollo Apterra HP tires. The mid-spec and top-spec variants of the harrier facelift use 18-inch alloy wheels with 235/60 R18 Bridgestone Ecopia EP850 tires.
   
• The manufacturers focus on performance and driving dynamics during production. A rise in the use of tire and wheel packages has been registered that is precisely optimized for comfort, noise reduction, and road handling, particularly in crossover and compact SUV. The lightweight aluminum wheels aids to improved suspension response, and the size range provides a balance between ride comfort and sportiness.
   
• Cost effectiveness is a key factor in the 16–18-inch rim size remarkably for compact vehicles and sedans. The 16–18-inch rim size wheel is crafted to offer better performance and durability. Customization and aesthetic opted by many consumers in 16-18 rim size concentrate on wheels that offer better performance and value for money.
   

Based on sales channel, the automotive wheel market is divided into OEM and Aftermarket. The OEM segment is projected to grow fastest at the CAGR of 6% during the forecast period.
 

• OEMs are investing in designing wheels that align with the unique design and identity of the brands. Companies are focusing on crafting a wide range of wheel designs such as multi-spoke, split spoke, and even complex patterns.
   
• In February 2025, MAK declared the expansion of its business segment in alloy wheel. MAK has launched seven new models including Monza, Stark, Chelsea, Asphalt, Qvarz, APX, and NOMAD. The new models cater to Alfa Romeo, Audi, Mini, Volkswagen, as well as Toyota, Hyundai, Lancia, Abarth, Ford, Fiat, and Jeep.
   
• Wheels are progressively featuring sensors for features such as Tire Pressure Monitoring Systems (TPMS), air quality monitoring, and other advanced driver-assistance systems (ADAS). OEMs are seeking wheel suppliers that can integrate these technologies into their products seamlessly, offering additional value to consumers. The incorporation of smart technologies, such as sensors that monitor tire health or measure wear and tear, is also achieving traction. These smart wheels are becoming a key differentiator in the OEM channel, especially for high-end models and premium manufacturers.
   

U.S. dominates the North America automotive wheel market and generates USD 8.6 billion in 2024 and is expected to grow at a CAGR of around 4% during the forecasted period.
 

• An increase in 17–20-inch rim size has been registered in U.S. owing to the rising number of SUVs and crossovers. SUVs and crossovers require stronger and larger wheels to support the size and weight in accordance to maintain performance and durability.
   
• Consumers of performance vehicles and SUVs are increasingly opting for larger diameter wheels which improve the aesthetics of the vehicles and can improve ride quality and off-road capabilities. Manufacturers are focusing on alternative lightweight materials for wheel manufacturing such as magnesium and carbon fiber. These materials are considered to offer high-performance in luxury vehicles.
   
• The automotive wheel market in U.S. accomplishes strict regulatory standards, specifically in terms of safety and quality. The National Highway Traffic Safety Administration (NHTSA) enforces regulations for wheel performance, strength, and safety. Environmental regulations impact the automotive wheel market, predominantly for the raw materials used in manufacturing. Manufacturers are investing in sustainable and recyclable materials, such as aluminum alloys.
   

Asia Pacific dominates the automotive wheel market with a share of 41% in 2024 in which China leads the market in the region.
 

• The market in China is dominant and holds the major share, owing to several key trends such as consumer preferences, advancements, and industry shifts. The innovations and technological advancements help China to reflect a key share in the automotive wheel market. The demand of consumers for luxury vehicles is increasing and resulting in rapid evolution of automotive industry and focus on innovation and sustainability.
   
• A growing trend for lightweight wheels in China helps the manufacturers to focus on designing aluminium alloy wheels. The requirement of lightweight materials is driven by the need to enhance fuel efficiency, which increase the performance of vehicles and reduce carbon emissions. The wheel manufacturers in China are crafting wheels optimized for EVs. Companies are focussing to manufacture wheels that are lightweight, durable, and have designs that enhance the overall aerodynamics of EVs.
   
• Government of China supports the adoption of green technologies, including electric vehicles and environmentally sustainable manufacturing process. Policies and regulations led by the government encourages the use of energy-efficient components in vehicles. The introduction of lightweight wheels is driving manufacturers and suppliers to innovate toward more sustainable practices.
   

The automotive wheel market in Germany is expected to experience substantial and promising growth from 2025 to 2034.
 

• Companies and suppliers focus on the reduction of environmental impact of vehicle production. The market in Germany is adapting the use of recycled aluminum and other sustainable materials to obey the country’s green manufacturing policies.
   
• Companies are using eco-friendly coatings and finishes to increase the durability, which will enhance the lifespan of the wheels and reduces the need for frequent replacements. Manufacturers are determined to design wheels that can be recycled easily at the end of their life cycle.
   
• German automotive wheel manufacturers are required to comply with stringent safety and quality standards both at the European and national levels. The manufactured wheels are required to undergo rigorous testing to ensure durability. The testing ensures that the manufactured wheel can handle both regular driving and high-speed driving along with heavy loads, and rough terrains. Manufacturers invest profoundly to meet these stringent requirements.
   
• Millennials in Germany are investing in luxury cars owing to high disposable income. The aftermarket in the country is flourishing, as consumers look to personalize their vehicles with custom wheels. Millennials are investing in wheels to enhance the appearance and performance of their vehicles. Several consumers in Germany are opting for wheels that offer both aesthetic appeal and functionality. Performance-oriented wheels offer better handling, braking, and aerodynamics. They are precisely used in the sports car and luxury vehicle segments.
   

Automotive Wheel Market Share

Top 5 companies leading the automotive wheel industry in 2024 are Borbet, CITIC Dicastal, Enkei, Foshan Nanhai Zhongnan Aluminum Wheel, and Iochpe-Maxion. They collectively hold around 25% share in the market.
 

• CITIC Dicastal manufactures and exports aluminum wheels and castings for cars making their presence around the globe. The company main strategy is to partner with global and Chinese OEMs extending their customer base in all the regions. Also, the company is leveraging their R&D to focus on lightweight components for improved fuel efficiency and performance.
   
• The Ronal Group follows the strategy of sustainability and digitization. The company announced the reduction in CO2 emissions by 50% by 2030 and achieve carbon neutrality by 2050. The company is known for their technological advancements such as flowforming and forging that offer lighter and more efficient wheels. The company has 12 manufacturing facilities that
   
• Iochpe manufactures automotive wheels and automotive structural components. The company is known for Maxion wheels offer a lightweight wheel design that helps with the reduction of vehicle weight by nearly 5%. The company produces around 50 million wheels, serving a diverse clientele that includes major automotive manufacturers.
   

Automotive Wheel Market Companies

Major Companies operating in the automotive wheel industry include:

• Borbet
• CITIC Dicastal
• Enkei Corporation
• Foshan Nanhai Zhongnan Aluminum Wheel
• Iochpe-Maxion
• Kosei Aluminum
• Prime Wheel Corporation
• RAYS
• Ronal Group
• Superior Industries
   

The companies in the automotive wheel market actively participate in business acquisitions, mergers and partnerships to increase their revenue. These collaborations not only and strategic alliances to enhance market reach and strengthen industry presence enable them to expand their client network but also enhance service capabilities and enter untapped regions.
 

Increasing consumer preferences for aftermarket customization leads to adoption of 3D printing by the manufacturers. Apart from 3D printing, manufacturers are investing in research and development for recycling of the aluminum wheels. The recycled crafting of wheels is considered as environmentally friendly and cost effective.
 

Automotive Wheel Industry News

• In August 2024, BORBET GmbH is projected to hold a key share during the forecast period. It is a leading global manufacturer of light alloy wheels. The company has acquired Dymag Technologies Limited. The strategic acquisition includes the takeover of the Dymag brand, all patents, and production facilities. Dymag was a renowned manufacturer of carbon and magnesium car, and motorbike wheels based in Chippenham, England. Dymag produces and supplies BX-F wheels to aftermarket customers in the US and Asia as well as Tier 1-wheel manufacturers worldwide. Burkhard Plett, CEO of BORBET GmbH declared that the acquisition would expand the portfolio of the company including carbon and magnesium rims.
   
• In December 2023, Enkei International, Inc. launched three automotive wheel designs namely- Enkei Vanquish, a pinnacle of style and performance crafted for automobiles such as the Toyota GR86, Subaru BRZ, WRX, and more. With its distinctive 8-spoke design, the Vanquish exudes a dynamic and sporty aesthetic. Enkei Adventurer wheel is tailor-made for outdoor enthusiasts who crave off-road escapades. Its robust design features 10 spokes with intricate detailing, providing both durability and style. Enkei Giotto, a stunning blend of modern aesthetics and refined details. With five sleek spokes, this wheel exudes sophistication in either 18 or 19 inches, available in a stunning gloss black or a bold gunmetal finish.
   
• In November 2022, Ronal Group, headquartered in Switzerland, has developed and introduced a new product named as R70-blue aluminum wheel. The manufacturing of R-70 has achieved a neutral product carbon emission. The company also declares to reduce its CO2 emissions in its own production by 50% by 2030.
   

The global automotive wheel market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) and volume (Units) from 2021 to 2034, for the following segments:

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Market, By Material

• Steel
• Alloy
• Carbon Fiber
• Aluminum

Market, By Vehicle

• Passenger cars
• Commercial vehicles
  • LCV
  • MCV
  • HCV 
• Off-road vehicles

Market, By Rim Size

• 13–15 inches
• 16–18 inches
• More than 19 inches

Market, By Sales Channel

• OEM
• Aftermarket

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • UAE
  • South Africa
  • Saudi Arabia