The automobile wheel hub is an important part of the automobile. It not only affects the appearance and performance of the automobile, but also is closely related to the safety, fuel economy and comfort of the automobile. With the rapid development of the automobile industry and the improvement of consumers' demand for automobile quality and individualization, the automobile wheel market also presents the characteristics of diversification and high-end. This article is based on the latest market data and industry dynamics.2023The scale, structure, trend and competition pattern of the automobile wheel market in 2011 are analyzed and predicted in depth, which provides valuable reference for practitioners and investors in the automobile wheel industry.

1. market size

According to data from the Champ Consulting Group,2022The size of the global automotive wheel hub market in225Billions of dollars, expected2026The year will reach333.3billion, with a CAGR8.2%. GlobalCOVID-19The pandemic economy has been negatively impacted globally, and the impact has been felt across all industries, but the automotive sector has been particularly negatively impacted. The challenges posed by the global embargo are enormous and impossible in many areas. The automotive industry faces many supply chain disruptions due to the lockdown. As the situation returns to normal, the market is expected to recover and grow positively during the forecast period.

According to data from the Champ Consulting Group,2023The size of the global automotive wheel market will reach250.5Billion US dollars, year-on-year growth10.5%. Among them, the Asia-Pacific region will continue to maintain the largest market share, accounting for the global total.45.6%, reach114.2Billions of dollars. The European region followed, accounting for the global total25.4%, reach63.6Billions of dollars. North America ranked third, accounting for the global total18.7%, reach46.9Billions of dollars. The remaining regions account for the global total10.3%, reach25.8Billions of dollars.

2. market structure

According to the material type, the global automotive wheel market is mainly divided into three categories: steel wheels, alloy wheels and carbon fiber wheels. Among them, alloy wheels are favored by consumers because of their light weight, good heat dissipation, and beautiful appearance, occupying the largest market share. According to data from the Champ Consulting Group,2022Annual alloy wheels account for the global total.75%, reach162Billions of dollars. Steel wheels still have a certain demand in the low-end market due to their low cost and high strength, accounting for the global total.25.1%, reach48.1Billions of dollars. Carbon fiber wheels have certain potential in the high-end market due to their lightweight, high strength, and high rigidity. However, due to its high cost and technical difficulty, its popularity is limited, accounting for the global total1.5%, reach2.9Billions of dollars.

According to the type of end market, the global automotive wheel market is mainly dividedOEMMarket and aftermarket two categories. among them,OEMThe market is the main sales channel of automobile wheels, occupying the largest market share. According to data from the Champ Consulting Group,OEMmarket remains a major market for the automotive supplies industry,2022YearOEMMarket size reaches165US $billion, accounting for the global automotive supplies market.78.5%. The aftermarket is driven by consumer demand for personalized car modifications and has room for growth,2022The after-sales market size reached45US $billion, accounting for the global automotive supplies market.21.5%。

According to the type of vehicle, the global automotive wheel market is mainly divided into passenger cars and commercial vehicles. Among them, passenger cars are the main consumer of automobile wheels, occupying the largest market share. According to data from the Champ Consulting Group,2022annual passenger cars accounted for the global total86%, reach204.7Billions of dollars. Commercial vehicles have a certain demand due to their high requirements for the performance and durability of the wheels, accounting for the global total.14%, reach33.2Billions of dollars.

3. market trends

The global automotive wheel market is facing a variety of changes and challenges, but also there are some opportunities and potential. Here are some market trends to watch:

Lightweight and high-intensity: With the continuous improvement of the automotive industry's requirements for energy saving, emission reduction and performance improvement, automotive wheels are also facing the demand for lightweight and high-intensity. Lightweight can reduce the overall weight of the car, thereby reducing fuel consumption or improving battery range. High-intensity can improve the safety and stability of the car, thereby improving the driving experience and comfort. In order to achieve light weight and high strength, automobile wheel manufacturers are adopting new materials and technologies, such as aluminum alloy, magnesium alloy, carbon fiber, forging, rheoforming, etc.

Intelligence and digitization: With the development of the automotive industry in the direction of intelligence and digitization, automotive wheels have also begun to integrate some smart sensors and communication equipment to achieve information interaction with other automotive components and the external environment. The intelligent wheel hub can monitor tire pressure, temperature, wear and other parameters in real time, and transmit the data to the driver or background management system wirelessly for early warning or remote diagnosis. Smart wheels can also beLEDLights or display screens to display some personalized information or advertising content to increase the beauty and interest of the car.

Customization and diversification: With the improvement of consumers' demand for car quality and individualization, car wheels have also begun to show the characteristics of customization and diversification. Consumers can choose different materials, colors, shapes, sizes, styles, patterns and other wheel options according to their own preferences and needs to meet their aesthetic and functional needs. Automobile wheel manufacturers are also constantly introducing new wheel products to adapt to different market segments and consumer preferences, such as sports wheels, luxury wheels, and retro wheels.

4. competition pattern

The global automotive wheel market is a highly competitive and fragmented market with numerous international and local wheel manufacturers. According to data from the Champ Consulting Group,2022The top five manufacturers in the global automotive wheel market are:

The French Michelin Group (Michelin Group): of the global total8.7%, reach16.7Billions of dollars. The Michelin Group is one of the world's largest tire manufacturers and an important supplier of automotive wheels. The Michelin Group has a number of well-known wheel brands, suchBBS、Ronal、OZ RacingWait.

Japan Aisin Seiji Co., Ltd (Enkei Corporation): of the global total7.2%, reach13.8Billions of dollars. Aisin Seiko is one of the largest auto parts manufacturers in Japan and the world's leading manufacturer of alloy wheels. Aisin Seiji mainly provides wheel hub products for high-end automobile brands in Japan, Europe and the United States, such as Toyota, Honda, Audi, BMW, etc.

American Arkonia Company (Arconic Inc.): of the global total6.4%, reach12.3Billions of dollars. Arkonia is one of the largest aluminum manufacturers in the United States and the world's leading manufacturer of aluminum alloy wheels. Arkonia mainly provides wheel hub products for mid-to-high-end car brands in North America and Europe, such as Ford, General Motors, Volkswagen, and Mercedes-Benz.

German Rourke Group (RÜHLK Group): of the global total5.9%, reach11.3Billions of dollars. The Rürk Group is one of Germany's largest auto parts manufacturers and the world's leading manufacturer of steel wheels. The Rulke Group mainly provides wheel hub products for low-end and mid-end car brands in Europe and Asia, such as Renault, Peugeot, Hyundai, Kia, etc.

China Aluminum Corporation (China Aluminum Corporation): of the global total5.1%, reach9.8Billions of dollars. Chinalco is one of the largest aluminum companies in China and the world's leading manufacturer of aluminum alloy wheels. Chinalco mainly provides wheel hub products for various automobile brands in China and other developing countries, such as Changan, Geely, Mazda, Chevrolet, etc.

In addition to the above five major manufacturers, there are many other influential manufacturers in the global auto wheel market, such as the Italian Speedalu Group (Subaru Group), American Tyco (Tyco International Ltd.), Japan Koyo Seiko Co., Ltd (Koyo Seiko Co., Ltd.), the German Mann-Hummel Group (Man Hummel Group), China Wanxiang Group (Wanxiang Group), etc.

5. epilogue

according to champ consulting,2023The global automotive wheel market will maintain steady growth in, but it will also face challenges and opportunities in many aspects, such as technological innovation, market competition and consumer demand. Practitioners and investors in the automotive wheel industry should pay close attention to the dynamic changes in the market, grasp the development trend of the market, and improve their competitiveness and adaptability to achieve sustainable development.