(MENAFN- Straits Research) Introduction

The automotive wheels aftermarket refers to the market segment that involves the sale and installation of replacement or upgraded wheels for vehicles after the original purchase. It includes a wide variety of products, such as alloy wheels, steel wheels, and performance-oriented wheels, designed to improve a vehicle's performance, aesthetics, and functionality.

This aftermarket sector is driven by consumer demands for vehicle customization, performance enhancements, and the need for replacement wheels due to damage or wear. Customers seek aftermarket wheels to upgrade their vehicles' looks, improve handling, reduce weight for better fuel efficiency, or make the car more suitable for specific driving conditions (e.g., off-road wheels for SUVs).

Market Dynamics Increasing global vehicle production drives the global market

The increasing global vehicle production and growing vehicle ownership, particularly in emerging markets like India, China, and Brazil, are significant drivers of the
automotive wheels aftermarket industry . Passenger cars, especially sedans and hatchbacks, continue to be the most popular choices for personal and family use. However, the rising demand for SUVs, celebrated for their robustness and versatility, is driving the need for larger, more durable wheels.

• In 2022, global vehicle production reached around 85 million units, according to the International Organization of Motor Vehicle Manufacturers, underscoring the immense demand for automotive wheels and aftermarket services worldwide. This trend highlights the substantial growth potential in the wheels aftermarket as both vehicle production and consumer preferences evolve.

Innovative coating and finishing solutions create tremendous opportunity

The global industry is witnessing significant growth, driven by the increasing demand for innovative coating and finishing solutions. These advancements not only enhance the performance and durability of wheels but also improve their aesthetics and functionality. One standout innovation is the Royal Series Superhydrophilic Wheel Coating, which creates a hydrophilic effect, actively repelling brake dust and keeping wheels cleaner for long periods.

This coating also offers exceptional resistance to high heat, ensuring long-lasting durability and wear resistance. As consumers continue to prioritize low-maintenance, high-performance wheel solutions, the development of such cutting-edge technologies is set to fuel further growth in the aftermarket sector. This trend opens up new opportunities for manufacturers and service providers to meet evolving customer needs and stay competitive.

Regional Analysis

North America dominates the global automotive wheels aftermarket, driven by its mature automotive industry, high vehicle ownership rates, and vibrant car modification culture. The U.S., in particular, exhibits strong demand for aftermarket wheels as consumers seek to enhance performance, improve aesthetics, and personalize their vehicles. The region benefits from a robust e-commerce and retail infrastructure, ensuring easy access to a wide range of high-quality aftermarket products.

Leading companies like American Racing and Fuel Off-Road have carved a niche by catering to diverse consumer preferences, from high-performance upgrades for muscle cars to durable, rugged options for off-road vehicles.

Key Highlights

• The global automotive wheels aftermarket industry size was valued at
  USD 14.5 billion in 2024
  and is expected to grow from
  USD 86 billion in 2025
  to reach an expected value of
  USD 18.11 billion by 2033 , growing at a CAGR of
  2.5%
  during the forecast period (2025-2033).
• Based on vehicle type, the global market is divided into passenger vehicles and commercial vehicles. The passenger vehicles segment dominated the market with the largest market revenue.
• Based on material, the global automotive wheels aftermarket industry is divided into alloy, steel, aluminum, and others. The alloy segment dominated the market with the largest market revenue.
• Based on rim size, the global automotive wheels aftermarket industry is divided into 13 - 19, 19 – 21, and 21 & above. The 13 - 19 inches segment dominated the market with the largest market revenue.
• Based on coating type, the global market is divided into liquid coating, powdered coating, and others. The powder coating segment dominated the market with the largest market revenue.
• Based on the distribution channel, the global automotive wheels aftermarket industry is divided into offline and online. The offline segment dominated the market with the largest market revenue.
• Based on application, the global market is divided into on-road wheels and off-road wheels. The on-road wheels segment dominated the market with the largest market revenue.
• North America is the highest shareholder in the global market.

Competitive Players

Maxion Wheels

Enkei Corporation

Superior Industries International, Inc.

Ronal Group

Borbet GmbH

Alcoa Wheels

OZ S.p.A.

Topy Industries Limited

Accuride Corporation

Wanfeng Auto Holdings Group

BBS Kraftfahrzeugtechnik AG

Anchi Alloy Wheels

Mangels Industrial S.A.

Konig Wheels

Vossen Wheels

Recent Developments

• In February 2024 , Advantec Wheels, a Jammu-based alloy wheel manufacturer, showcased its new range of premium, Made-in-India flow-forged alloy wheels at Automechanika 2024, held at Pragati Maidan from February 1-3, 2024. The company introduced models such as Kohinoor, Spyder, and Black Widow, emphasizing precision engineering and design craftsmanship.

Segmentation

By Vehicle Type

• Passengers Vehicles
• Commercial Vehicles

By Material

• Alloy
• Steel
• Aluminum
• Others

By Rim Size

• 13 - 19
• 19 - 21
• 21 & Above

By Coating Type

• Liquid Coating
• Powdered Coating
• Others

By Applications

• On-Road Wheels
• Off-Road Wheels

By Distribution Channel

• Offline
• Online

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

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