GVR Report cover Automotive Wheels Aftermarket Size, Share & Trends Report

Automotive Wheels Aftermarket Size, Share & Trends Analysis Report By Vehicle Type (Passenger Cars, Commercial Vehicles), By Material Type, By Coating Type, By Rim Size, By Distribution Channel, By Region, And Segments Forecasts, 2019 - 2025

  • Report ID: GVR-3-68038-843-5
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2014 - 2017
  • Industry: Technology

Report Overview

The automotive wheels aftermarket size was valued at USD 5.79 Billion in 2018. The market is expected to register a CAGR of 3.0% from 2019 to 2025. Automotive wheels market has gained high traction in the last few years, owing to the high demand for the racing, sport, and luxury passenger car wheels. The growing sales of Passenger Cars with the changing preferences of consumers create a high demand for performance-based vehicles. The demand for high performance wheels can be attributed to rise in the performance-oriented Passenger Cars including super cars and luxury cars, Also, wheels play an important role in performance analysis of a vehicle, which is expected to catalyze the market growth over the forecast period.

The recent rising trend of aluminum vehicles in low commercial vehicles is expected to create high growth opportunities for the market. The aluminum wheels, which are prominently used in light-duty vehicles, have a high prevalence rate in the developed countries. Countries, namely the U.S., Germany, and Japan are the largest production and consumption hub for the aluminum and carbon fiber wheels as the prominent aftermarket part manufacturers and suppliers are situated in these countries. These factors are expected to surge demand from the consumer side, and crate motion in research and development activities.

North America automotive wheels aftermarket

Furthermore, automotive manufacturers are using more carbon-based and aluminum wheels because of the stringent government-mandated mileage goals. Also, manufacturing of the new material involves much less energy and produces a more precisely formed wheel that allows better-defined and sharper body lines, making part replacements easier. However, the largest share of alloy wheels segment is due to their properties such as durability, corrosion resistance, density, high tensile strength, malleability, and ductility. Further, with the increasing proliferation of hybrid electric automobile models, the demand for unique wheels incorporated in these vehicles has increased tremendously.

Retailers have to maintain an ample amount of stock of wheels to cater to and retain their customer base. Technological advancement and increasing investments in R&D activities by manufacturers and associations are expected to drive the industry growth for the wheels aftermarket. There are some wheel manufacturers following the internationally designed standards for manufacturing wheels and parts. For instance: In October 2017, Dymag Group Limited launched the technology-driven diecast magnesium wheels for Formula One racing cars. The wheels are offered by the company are 25% lighter than the OEM forged aluminum wheels, and 40% lighter than the standard cast-aluminum wheels. Such initiatives taken by the manufacturers create sustainable growth opportunities to improve the performance of the vehicle.

Vehicle Type Insights

Based on vehicle type, the automotive wheels aftermarket is segmented as passenger cars and commercial vehicles. The passenger cars segment is further sub-segmented into basic and racing, which are based on performance. In 2018, the passenger car segment accounted for the largest share in the market. The passenger cars segment is expected to gain a high CAGR over the forecast period. Significant growth in the market is registered, owing to the rising demand for racing car wheels. Nowadays, the use of carbon fiber composite in racing cars wheels, provide combination of high strength and lightweight properties.

Growing sales of high performance and high-quality light-alloy designer wheels is expected to deliver sustainable growth of the market. The surge in demand for appealingly pleasant and developing features in the vehicles is expected to drive the accessories market segment of the aftermarket wheel industry. Also, there are a number of luxury vehicle brands, including BMW, Mercedes, Audi, Jaguar, Bentley, amongst others, which are among the top partners of wheels aftermarket players.

Material Insights

Based on the material type, the market has been categorized into alloy, steel, aluminum, and others. In 2018, the alloy segment accounted for the largest share in the market. The aluminum segment is estimated to gain a high CAGR over the forecast period. The surging applicability of various material types in dynamic environment is expected to drive the market with future commercialization of the wheels.

However, the high maintenance and replacement cost of the carbon wheels is also expected to increase market growth for alloy material. Over the years, alloy wheels are used primarily because of shape and performance. As the automotive industry is mainly focusing on energy savings, manufacturers are mainly focusing on the lightweight design of wheels. These wheels are made up of aluminum, carbon fiber, steel; Also, the price of material influences the economic scenario of the aftermarket.

Coating Insights

Based on the coating type, the market has been categorized into powdered coating and liquid coating. In 2018, the powdered segment accounted for the largest share in the market. The liquid coating segment is estimated to gain a high CAGR over the forecast period. The coating assists the wheels to restore the fine and original appearance. Technological breakthroughs in various types of wheel coatings have improved the hydrophobic nature of coatings.

Powder coating involves the use of exceedingly specialized equipment and provides great protection from scratches, dings, and damage. Further, powder coating is aluminum friendly and reusable. This process is considerably cost-effective and involved little waste of material. Powder coating is also used to change the color of wheels, and this is estimated to create significant growth opportunities for the market.  

Rim Size Insights

Based on the rim size, the market has been segmented as 13 to 19 inches, 19 to 21 inches, and 21 inches and above. In 2018, the 13-19 segment was accounted for maximum share in the market. 21 inches and above segment is estimated to deliver significant growth in the market. The Asia-Pacific regional market is expected to witness strong growth over the forecast period, owing to the rapidly increasing adoption of designed wheels with great rim size. Rising ASEAN and China market with the largest distribution network for the alloy wheel rim is expected to drive the market.

The rising trend of larger rim size is estimated to create significant demand for the 19 to 21 and 21 size rims. These rim sizes differ with certain safety standards and motor vehicle standards.

The 21 inches and above size rims are used mainly for commercial wheels, regardless of the width. Commercial vehicles include semi‐trailers, tractors, dump trucks, garbage trucks, buses, and concrete mixers. With growing economies and industrialization, demand for light commercial vehicles has risen in the last few years, this in turn positively affects the market pace for wheel sales.

Distribution Channel Insights

The market is segmented on the basis of distribution channels into retailers and wholesalers & distributors. In 2018, the retailers segment accounted for the maximum share in the market. The wholesalers & distributors segment is expected to grow with a high CAGR over the forecast period. Distributors play a vital role in the industry by offering different types of wheel models to the end customers such as carbon fiber or aluminum wheels.

Global automotive wheels aftermarket

The adoption of the modern ways of distribution by certain vendors, such as e-commerce and online catalogs, have added value to their product offering and distribution network. Manufacturers are rapidly increasing their global and regional presence catering to automobile manufacturers across the globe. Also, prominent manufacturers are forming alliances with raw material and technology suppliers. Further, there are many suppliers and distributors experimenting with new business model approaches as collaborations with local market participants; to establish profitability levels in the domestic market.

Region Insights

Based on the region, the market has been segmented as North America, South America, Europe, Asia Pacific, and MEA. In 2018, North America accounted for maximum share in the market, followed by Europe. The Asia-Pacific regional market is expected to witness strong growth over the forecast period, owing to the rapidly increasing adoption of luxury wheels in various passenger car segment.

The growing demand in emerging economies, such as India, Japan, and China, is driving the industry growth in the Asia Pacific region. Favorable government regulations and the growing automotive industry are also some of the major factors driving the growth of the wheels aftermarket in the Asia-Pacific region. Low labor cost and economic production conditions in ASEAN countries are also amongst a few reasons behind the current growth of the aftermarket. The emerging trend for high-end brand wheels with high performance and affordability is also projected to boost market growth in the coming years.  

Key Companies & Market Share Insights

The key industry participants are RONAL Group, BORBET Gmbh, Enkei Corporation, AEZ Leichtmetallräder GmbH, Beyern Wheels. The competitive rivalry among the existing players is high, and the rivalry is based on service differentiation and the cost. In order to retain their position in the market and rise above the price competitiveness, market leaders are focusing on investing in R&D facilities. However, maintaining profit margin and price competitiveness are some of the key concerns of the market.

In addition, key automobile producers are expected to enter into partnerships with distributors and suppliers across low-cost labor countries such as India, thereby increasing the scope for vertical integration in the wheel’s aftermarket. Price fluctuation for the material prices ensures the competitiveness among the market players. The companies are offering vast product lines for wheels includes OEM, heavy-duty wheels, modern designs, classic styles, and a growing selection of rims. For instance: RTX Wheels offers more than 120 different affordable wheels for both truck and car category, through a network of more than 8,000 retailers.

Automotive Wheels Aftermarket Report Scope 

Report Attribute


Market size value in 2020

USD 6.2 billion

Revenue forecast in 2025

USD 7.1 billion

Growth Rate

CAGR of 3.0% from 2019 to 2025

Base year for estimation


Historical data

2014 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Vehicle type, material type, coating type, rim size, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; China; India; Japan; Brazil

Key companies profiled

RONAL Group; BORBET Gmbh; Enkei Corporation; AEZ Leichtmetallräder GmbH; Beyern Wheels

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report:

This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global automotive wheels aftermarket report based on vehicle type, material type, coating type, rim size, distribution channel, and region.

  • Vehicle Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Passenger Cars

      • Basic

      • Racing

    • Commercial Vehicles

  • Material Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Alloy

    • Steel

    • Aluminum

    • Others (Carbon Fiber, Nickel)

  • Coating Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Liquid Coating

    • Powdered Coating

  • Rim Size Outlook (Revenue, USD Billion, 2014 - 2025)

    • 13 - 19 inches

    • 19 - 21 inches

    • 21 inches and above

  • Distribution Channel Outlook (Revenue, USD Billion, 2014 - 2025)

    • Retailers

    • W&D

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • The U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • South America

      • Brazil

    • Middle East & Africa

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