The global Wheels Aftermarket market size was USD 22.45 Billion in 2022 and is expected to reach a value of USD 37.29 Billion in 2032 and register a revenue CAGR of 5.8% during the forecast period.
The market revenue growth is primarily driven by variables including increased consumer desire for personalized wheels, rising sales of luxury and premium cars, and rising need for replacement wheels because of accidents and general wear and tear. In the upcoming years, demand for aftermarket wheels is expected to increase as the automotive industry places a greater emphasis on enhancing vehicle performance and appearance.
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The growing demand for larger and more distinctive wheels is partly fueled by the popularity of SUVs and crossover cars. The demand for wider wheels to enhance the appearance and performance of SUVs and crossovers, one of the automobile industry’s fastest-growing sectors, is rising. As a result, aftermarket wheel producers are creating a variety of sizes and designs to satisfy the expanding demand.
Also, it is expected that the market for aftermarket wheels will benefit significantly from the growing use of electric vehicles (EVs). To increase the range and efficiency of electric vehicles, they need lightweight, aerodynamic wheels. To meet these demands, aftermarket wheel makers are creating cutting-edge wheel designs.
In addition, the accessibility of cutting-edge manufacturing technologies like 3D Printing and CNC machining is enabling aftermarket wheel producers to produce highly personalized, and one-of-a-kind designs at a reduced cost. This is expected to increase customer demand for aftermarket wheels among those seeking distinctive and customized wheel designs.
- Goodyear Tire & Rubber Company
- Continental AG
- Bridgestone Corporation
- Pirelli & C. S.p.A.
- Yokohama Rubber Co., Ltd.
- Enkei Wheels
- BBS Kraftfahrzeugtechnik AG
- Castrol Limited
- Mak Wheels
The global market is further segmented into type and application:
|By Product Type Outlook||
|By Vehicle Type Outlook||
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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