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Carbon Wheels Market Analysis

Report ID: GMI4768
Published Date: Mar 2024
Report Format: PDF

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Carbon Wheels Market Analysis

Carbon Wheel Market Size, By Vehicle Type, 2022-2032 (USD Billion)

Based on vehicle type, the market is divided into passenger cars, commercial vehicles, and two wheelers. The commercial vehicles segment dominated around USD 323 million revenue in 2023. Commercial vehicles and luxury vehicles have more share in carbon wheels as they have luxurious interiors and carbon wheels are lighter and stronger in performance.

Carbon Wheel Market Share, By Distribution Channel, 2023

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Based on distribution channel, the market is categorized into OEM, Aftermarket. The original equipment manufacturer (OEM) segment accounted for 81% of the carbon wheels market share in 2023. OEMs produce carbon wheels in quality standards that preserve their brand value.

Asia Pacific Carbon Wheel Market Size, 2022 - 2032, (USD Billion)

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Asia Pacific carbon wheels market size held over USD 206 million in 2023. The APAC region has been undergoing urbanization because of rapid industrialization. APAC region has also witnessed market growth of luxury vehicles especially in countries like, India, China, Singapore which signals the growth and acceptance of market.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of carbon wheels reached USD 679 million in 2023 and is set to witness 8.2% CAGR from 2024 to 2032, owing to increase in technological advancements such as carbon fiber technology, manufacturing process and design engineering worldwide.

The commercial vehicles segment recorded around USD 323 million in 2023, due to having luxurious interiors and preferring carbon wheels for their lighter and stronger performance.

Asia Pacific market was valued at USD 206 million in 2023, attributed to rapid urbanization and industrialization in the region.

Zipp speed weaponry, ENVE Composites, Reynolds Cycling, Mavic DT Swiss, Fulerum Wheels, Roval components, Easton Cycling, Campagnolo, Bontrager, Carbon Revolution Ltd., Dymag Group Ltd., and Ronal Group, are some of the major carbon wheels companies worldwide.