Global Aluminum Alloy Wheel Market size was valued at USD 17.2 Billion in 2024 and is expected to reach USD 33.2 Billion by 2033, at a CAGR of 7.2% during the forecast period 2024 – 2033.

Aluminum Alloy Wheel Market: Overview

An aluminum alloy wheel is a type of wheel commonly used in vehicles, made primarily from an alloy of aluminum, which often includes small amounts of other metals such as magnesium, nickel, or copper.

The new market player in this industry creates aluminum alloy wheels for a variety of vehicles, such as light trucks, passenger automobiles, commercial vehicles, and race cars. These wheels are well-liked by both consumers and automakers due to their lightweight design, corrosion resistance, and attractive appearance.

Furthermore, the vehicle’s aesthetic appeal is enhanced by the aluminum alloy wheels. As a result, weight reduction is becoming increasingly important. It is anticipated that evolving customer preferences and way of life changes would create new avenues for market expansion.

During the forecast period, factors such as swift urbanization, rising vehicle demand and production, and fuel efficiency rules are anticipated to drive the growth of the aluminum alloy wheels market.

By finishing type, the polished alloy wheel segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Aluminum wheels that have been polished are not plated. The surface is polished using a polishing compound.

By vehicle type, the passenger cars segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Throughout the projection period, the passenger car sector is anticipated to maintain its leading market share for aluminum alloy wheels. The passenger automobile market is the largest and is expected to stay that way for the foreseeable future.

During the past few decades, there has been a notable increase in the manufacture of automobiles in the Asia Pacific region, specifically in nations like China, Japan, South Korea, and India.

Urbanization, growing income levels, and an increase in the demand for both passenger and commercial automobiles have all contributed to this expansion. Because of this, there is a significant requirement for aluminum alloy wheels to satisfy the demands of the growing automobile market.

Borbet GmbH premier manufacturer of alloy wheels that offers an extensive selection of wheel designs and configurations, including the QX and LX19 wheels.

Report Scope

Feature of the ReportDetails
Market Size in 2024USD 17.2 Billion
Projected Market Size in 2033USD 33.2 Billion
Market Size in 2023USD 16.3 Billion
CAGR Growth Rate7.2% CAGR
Base Year2023
Forecast Period2024-2033
Key SegmentBy Finishing Type, Vehicle Type and Region
Report CoverageRevenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional ScopeNorth America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying OptionsRequest tailored purchasing options to fulfil your requirements for research.

CMI has comprehensively analyzed the Global Aluminum Alloy Wheel Market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth by Amico Group of Companies to depict an depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Aluminum Alloy Wheel industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

Global Aluminum Alloy Wheel Market 2024–2033 (By Billion)

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List of the prominent players in the Aluminum Alloy Wheel Market:

  • Borbet GmbH
  • Enkei Corporation
  • Ronal Group
  • Wheels India Limited
  • Superior Industries International Inc.
  • Mak Wheels
  • BBS Kraftfahrzeugtechnik AG
  • CM Wheels
  • Alcoa Wheels
  • CITIC Dicastal Co. Ltd.
  • Fondmetal S.p.A.
  • Mandrus Wheels
  • Konig Wheels
  • OZ Group
  • Rays Engineering
  • Speed-line Corse
  • TSW Alloy Wheels
  • Vossen Wheels
  • XXR Wheels
  • Others

The Aluminum Alloy Wheel Market is segmented as follows:

By Finishing Type

  • Polished Alloy Wheel
  • Tow-Toned Alloy Wheel

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Application

  • Two Wheelers
  • Passenger Cars
  • Commercial Vehicles

By Distribution Channel

  • Original Equipment Manufacturer
  • Aftermarket

By Material

  • Aluminum
  • Silicon
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America