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Automotive Carbon Wheels Market

Automotive Carbon Wheels Market

Automotive Carbon Wheels Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

146

Base Year:

2021

Date

Jul - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1727

Segments Covered
  • By Size 19, 20, 21, Other Sizes
  • By Vehicle Passenger Vehicle, Luxury/ Premium Vehicles, Mid-Segment Vehicles, Entry-Class Vehicles, Commercial Vehicle
  • By Sales Channel OEM, Aftermarket
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 615.1 Million
Revenue 2028Revenue 2028: USD 1071.9 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 9.7%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Europe
Largest Region Largest Region (2021): Europe
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Automotive Carbon Wheels Market Share

Market Synopsis:

The Global Automotive Carbon Wheels Market was valued at USD 615.1 Million in the year 2021 and is forecast to reach a value of USD 1071.9 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.7% over the forecast period.

Automotive Carbon Wheels Market Size, 2021 To 2028 (USD Million)

A wheel is a hub-mounted, spherical metal frame with spokes or a solid disc as its spokes. Car tires are mounted on wheel frames, which are also referred to as rims or alloy wheels. These are made of steel, aluminum, magnesium, carbon fiber, or a mixture of these metals. Automobile carbon fiber wheels are robust, lightweight, and extended wheel life. They outperform conventional wheels in several additional ways, including increased fatigue damage strength and stability, self-vibration cushioning, improved grip, and high heat rigidity. Automotive carbon wheels are meant to be used in high-performance automobiles like sports cars and SUVs, where the wheels' strength, weight, and vibration-dampening characteristics are essential criteria.

People's purchasing power has expanded due to increased disposable income, which has enhanced their preference for luxury goods like sports cars. The main factors anticipated to increase demand for automotive carbon wheels and increase the market size for these wheels are the desire to reduce vehicle weight and enhance fuel efficiency. Automotive industry players are concerned about lowering vehicle weight since it improves performance and efficiency. The benefits of lighter wheels are improved mobility, a quieter and smoother ride, quicker acceleration and deceleration, better suspension, and ongoing fuel efficiency improvements. All of these considerations drive the market for carbon wheels for automobiles. However, the need for aftermarket automotive carbon wheels will also increase as a result of continued efforts by vehicle owners to increase productivity, success, and aesthetic appeal. As a result, it is anticipated that all of these factors will benefit automobile carbon wheels.

Market Segmentation:

The Automotive Carbon Wheels Market is segmented on the basis of Size, Vehicle, and Sales Channel. Based on Size, the market is segmented into 19, 20, 21, and Other Sizes. Based on vehicles, the market is segmented as Passenger vehicles, Luxury/ Premium Vehicles, Mid-segment Vehicles, Entry-class Vehicles, and Commercial Vehicles. Finally, based on Sales Channel, the market is segmented as OEM and Aftermarket.

Based on Sales Channel:

On the basis of Sales Channel, the OEM is that according to projections, the OEM sub-segment will dominate the global market. This sub-segment is expanding due to the increased focus on increasing engine power in electric vehicles compared to vehicle weight in both passenger and commercial electric vehicles. In addition, using carbon wheels is anticipated to lower the vehicle's weight, which will help increase the vehicle's power output.

Based on Vehicle:

On the basis of vehicles, the passenger vehicles sub-segment is anticipated to command the largest market share and generate significant income shortly. Furthermore, this sub-growth segment is expected to be aided in the foreseeable future by rising consumer demand for increased passenger car fuel efficiency and growing efforts by automakers to lighten their vehicles.

Europe is Projected to Grow at the Fastest CAGR During the Forecast Period

Europe is accounted to grow at the fastest CAGR during the forecast period. As a result, Europe dominated the global market for automotive carbon wheels, and it is anticipated that it will continue to hold the top spot during the forecast period. Furthermore, the use of carbon fiber composite materials in vehicles by leading automakers in the Europe region, including Porsche, BMW, Ferrari, Mercedes-Benz, Audi, and Lamborghini, as well as a strong focus on materials engineering for the development of light automotive composite materials, such as carbon fiber automotive rims and wheels, are anticipated to support the growth of the carbon wheels market in the Europe region during the forecast period.

Competitive Landscape:

The key players in the Global Automotive Carbon Wheels market include- Carbon Revolution, Dymag Group Limited, ESE Carbon, HRE Wheels, LiteSpeed Racing, Rolko Kohlgrüber GmbH, Thyssenkrupp AG, and others.

Segmentation of the Global Automotive Carbon Wheels Market:

Parameter Details
Segments Covered
  • Size (19, 20, 21, Other Sizes)
  • Vehicle (Passenger Vehicle, Luxury/ Premium Vehicles, Mid-Segment Vehicles, Entry-Class Vehicles, Commercial Vehicle)
  • Sales Channel (OEM, Aftermarket)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Carbon Revolution
  • Dymag Group Limited
  • ESE Carbon
  • HRE Wheels
  • LiteSpeed Racing
  • Rolko Kohlgrüber GmbH
  • Thyssenkrupp AG
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Automotive Carbon Wheels Market to Reach Valuation of USD 1071.9 Million by 2028 – Rising Demand to Improve Fuel Efficiency and Reduce Vehicle Weight for Drives the Market
In terms of revenue, the Global Automotive Carbon Wheels Market is expected to reach USD 1071.9 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.7% from 2022 to 2028. The growing demand for luxury vehicles in the four-wheeler segment and the rising adoption of carbon-based whe...
FAQ
Frequently Asked Question
  • The global Automotive Carbon Wheels valued at USD 615.1 Million in 2020 and is expected to reach USD 1071.9 Million in 2028 growing at a CAGR of 9.7%.

  • The prominent players in the market are Carbon Revolution, Dymag Group Limited, ESE Carbon, HRE Wheels, LiteSpeed Racing, Rolko Kohlgrüber GmbH, Thyssenkrupp AG.

  • The market is project to grow at a CAGR of 9.7% between 2021 and 2028.

  • The driving factors of the Automotive Carbon Wheels include

    • Improved Vehicle Dynamics and Increased Demand for Lightweight Materials

  • Europe was the leading regional segment of the Automotive Carbon Wheels in 2020.