Alloy Wheels Aftermarket Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025
- Published: Mar 2021
- Pages: 120
- SKU: IRTNTR43938
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The alloy wheels aftermarket share is expected to increase by USD 100.99 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 0.73%.
This alloy wheels aftermarket research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers alloy wheels aftermarket segmentations by application (passenger vehicles and commercial vehicles) and geographic (APAC, Europe, North America, South America, and MEA). The alloy wheels aftermarket report also offers information on several market vendors, including ALCAR HOLDING GmbH, BORBET GmbH, Enkei Corp., Howmet Aerospace Inc. , Iochpe-Maxion SA, RONAL AG, Superior Industries International Inc., TSW Group, Wheel Pros LLC, and YHI INTERNATIONAL Ltd. among others.
What will the Alloy Wheels Aftermarket Size be During the Forecast Period?
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Alloy Wheels Aftermarket: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The aging vehicle fleet is notably driving the alloy wheels aftermarket growth, although factors such as increase in OEM fitment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the alloy wheels aftermarket industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Alloy Wheels Aftermarket Driver
One of the key factors driving the alloy wheels aftermarket growth is the aging vehicle fleet. The average age of vehicles, especially in North America and Europe, is rising continuously. Vehicle components are subjected to continuous wear and tear with age. The worn-out components of vehicles are required to be replaced to achieve optimum in-vehicle safety and comfort. Though wheels have longer replacement cycles, the growing preference for alloy wheels over steel wheels due to their high strength and low weight has increased the aftermarket demand for alloy wheels in the passenger vehicle and commercial vehicle segments. The number of in-use vehicles is anticipated to rise gradually in the coming years, and the increase is anticipated to be driven by countries from APAC and South America. Moreover, the average age of vehicles in APAC and South America is likely to increase rapidly during the forecast period. This is anticipated to drive the global alloy wheels aftermarket during the forecast period.
Key Alloy Wheels Aftermarket Trend
Emergence of carbon fiber alloy wheels is the major trend influencing the alloy wheels aftermarket growth. Carbon fiber alloy wheels were primarily used for vehicles used in the motorsport and aerospace industries. The aluminum alloy wheel is also lightweight, but as the weight of aluminum alloy wheels decreases after processing, its strength and stiffness can be compromised. Hence, aluminum alloy wheels can deform under a light impact, whereas carbon fiber alloy wheels remain intact. Carbon fiber wheels are being adopted by OEMs to use passenger vehicles, as they help in enhancing vehicle efficiency, comfort, and control. For instance, in August 2017, Porsche AG (Porsche) provided a carbon alloy wheel as an option to the customers of the Porsche 911 Turbo S Exclusive Series. Various enterprises are offering carbon fiber alloy wheels to OEMs in the market. Initially, only Porsche used carbon fiber alloy wheels. However, a large number of OEMs and Aftermarket players are now offering carbon fiber alloy wheels. Thus, the increase in adoption of fiber alloy wheels will provide high growth opportunities for vendors in the market.
Key Alloy Wheels Aftermarket Challenge
Increase in OEM fitment is one of the key challenges hindering the alloy wheels aftermarket growth. There has been an increase in the fitment of alloy wheels done by OEMs. More and more vehicles, even in low variants, are being equipped with alloy wheels. OEMs are trying to tap the untapped market by equipping low variant vehicles with alloy wheels, posing a big challenge to the aftermarket alloy wheel suppliers. In mature markets like the US and Europe, a lot of vehicles are equipped with alloy wheels in all of their variants, leaving less scope for the aftermarket alloy wheel suppliers to expand their market share. OEMs want to differentiate their product either in terms of price or feature, which has eventually resulted in the growth of OEM fitted alloy wheels. The increase in OEM fitments will have a negative impact on the growth of the global alloy wheels aftermarket.
This alloy wheels aftermarket analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global alloy wheels aftermarket as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the alloy wheels aftermarket during the forecast period.
Who are the Major Alloy Wheels Aftermarket Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- ALCAR HOLDING GmbH
- BORBET GmbH
- Enkei Corp.
- Howmet Aerospace Inc.
- Iochpe-Maxion SA
- RONAL AG
- Superior Industries International Inc.
- TSW Group
- Wheel Pros LLC
- YHI INTERNATIONAL Ltd.
This statistical study of the alloy wheels aftermarket encompasses successful business strategies deployed by the key vendors. The alloy wheels aftermarket is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market.
Product Insights and News
- ALCAR HOLDING GmbH - The company offers Aftermarket alloy wheels. The company offers alloy wheels through its brands such as AEZ, DOTZ, DEZENT and DOTZ SURVIVAL, for passenger vehicle aftermarket sector.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The alloy wheels aftermarket forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Alloy Wheels Aftermarket Value Chain Analysis
Our report provides extensive information on the value chain analysis for the alloy wheels aftermarket, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Alloy Wheels Aftermarket?
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61% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for alloy wheels aftermarket in APAC. Market growth in this region will be slower than the growth of the market in MEA regions.
The improved and stabilized socio-economic conditions in APAC countries, especially China and India, are contributing to the growth of the automotive industry in the region over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
However, the market witnessed a decline in 2020, owing to the outbreak of COVID-19. Countries such as China, Japan, South Korea, and India have been among those highly affected by the COVID-19 pandemic. The governments of most countries in APAC introduced emergency legislation that imposed restrictions on business activities and social gatherings during the first half of 2020. While a few essential industries, such as food and beverage and pharmaceuticals, continued to operate at their usual utilization rates, most industrial activities and manufacturing, automotive, and other industries witnessed a decline in output. This, in turn, hindered the demand for aftermarket alloy wheels in the region in 2020. However, the market is expected to recover from the beginning of 2021, with the gradual lifting of these restrictions and the economic recovery.
What are the Revenue-generating Application Segments in the Alloy Wheels Aftermarket?
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The alloy wheels aftermarket share growth by the passenger vehicles will be significant during the forecast period. The passenger car segment of the global alloy wheels aftermarket is anticipated to be primarily driven by the growing demand for SUV alloy wheels across the world.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the alloy wheels aftermarket size and actionable market insights on post COVID-19 impact on each segment.
Alloy Wheels Aftermarket Scope
Growth momentum & CAGR
Accelerate at a CAGR of 0.73%
Market growth 2021-2025
$ 100.99 million
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 61%
Key consumer countries
China, US, Japan, Germany, UK, and France
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
ALCAR HOLDING GmbH, BORBET GmbH, Enkei Corp., Howmet Aerospace Inc. , Iochpe-Maxion SA, RONAL AG, Superior Industries International Inc., TSW Group, Wheel Pros LLC, and YHI INTERNATIONAL Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Alloy Wheels Aftermarket Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive alloy wheels aftermarket growth during the next five years
- Precise estimation of the alloy wheels aftermarket size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the alloy wheels aftermarket industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of alloy wheels aftermarket vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Automotive Components and Accessories
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 15: Application - Market share 2020-2025 (%)
- 5.2 Comparison by Application
- Exhibit 16: Comparison by Application
- 5.3 Passenger vehicles - Market size and forecast 2020-2025
- Exhibit 17: Passenger vehicles - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Passenger vehicles - Year-over-year growth 2020-2025 (%)
- 5.4 Commercial vehicles - Market size and forecast 2020-2025
- Exhibit 19: Commercial vehicles - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Commercial vehicles - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Application
- Exhibit 21: Market opportunity by Application
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 APAC - Market size and forecast 2020-2025
- Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 North America - Market size and forecast 2020-2025
- Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
- 7.6 South America - Market size and forecast 2020-2025
- Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
- 7.7 MEA - Market size and forecast 2020-2025
- Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- 10.3 ALCAR HOLDING GmbH
- Exhibit 43: ALCAR HOLDING GmbH - Overview
- Exhibit 44: ALCAR HOLDING GmbH - Product and service
- Exhibit 45: ALCAR HOLDING GmbH - Key offerings
- 10.4 BORBET GmbH
- Exhibit 46: BORBET GmbH - Overview
- Exhibit 47: BORBET GmbH - Product and service
- Exhibit 48: BORBET GmbH - Key news
- Exhibit 49: BORBET GmbH - Key offerings
- 10.5 Enkei Corp.
- Exhibit 50: Enkei Corp. - Overview
- Exhibit 51: Enkei Corp. - Product and service
- Exhibit 52: Enkei Corp. - Key offerings
- 10.6 Howmet Aerospace Inc.
- Exhibit 53: Howmet Aerospace Inc. - Overview
- Exhibit 54: Howmet Aerospace Inc. - Business segments
- Exhibit 55: Howmet Aerospace Inc. - Key news
- Exhibit 56: Howmet Aerospace Inc. - Key offerings
- Exhibit 57: Howmet Aerospace Inc. - Segment focus
- 10.7 Iochpe-Maxion SA
- Exhibit 58: Iochpe-Maxion SA - Overview
- Exhibit 59: Iochpe-Maxion SA - Business segments
- Exhibit 60: Iochpe-Maxion SA - Key news
- Exhibit 61: Iochpe-Maxion SA - Key offerings
- 10.8 RONAL AG
- Exhibit 62: RONAL AG - Overview
- Exhibit 63: RONAL AG - Product and service
- Exhibit 64: RONAL AG - Key news
- Exhibit 65: RONAL AG - Key offerings
- 10.9 Superior Industries International Inc.
- Exhibit 66: Superior Industries International Inc. - Overview
- Exhibit 67: Superior Industries International Inc. - Business segments
- Exhibit 68: Superior Industries International Inc. - Key offerings
- Exhibit 69: Superior Industries International Inc. - Segment focus
- 10.10 TSW Group
- Exhibit 70: TSW Group - Overview
- Exhibit 71: TSW Group - Product and service
- Exhibit 72: TSW Group - Key offerings
- 10.11 Wheel Pros LLC
- Exhibit 73: Wheel Pros LLC - Overview
- Exhibit 74: Wheel Pros LLC - Product and service
- Exhibit 75: Wheel Pros LLC - Key offerings
- 10.12 YHI INTERNATIONAL Ltd.
- Exhibit 76: YHI INTERNATIONAL Ltd. - Overview
- Exhibit 77: YHI INTERNATIONAL Ltd. - Business segments
- Exhibit 78: YHI INTERNATIONAL Ltd. - Key offerings
- Exhibit 79: YHI INTERNATIONAL Ltd. - Segment focus
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 80: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 81: Research Methodology
- Exhibit 82: Validation techniques employed for market sizing
- Exhibit 83: Information sources
- 11.4 List of abbreviations
- Exhibit 84: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Aging vehicle fleet
- Emergence of carbon fiber alloy wheels
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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