The market for automotive wheel rims is anticipated to reach US$ 44,944.6 million in 2022 and to rise at a robust 6.20% CAGR from 2022 to 2032, reaching US$ 82,020.5 million by that year.
Rising vehicle production worldwide, rising luxury car owner preferences for rims with different designs, and rising consumer willingness to pay are some of the factors that are projected to support the rise of the automotive wheel rims market during the forecast period (2022-2032).
The outer edges of a wheel that are intended to hold the tire are called the wheel rims. To sustain the weight of the vehicle and endure operational forces, wheel rims must be sturdy. Wheels that have evolved in design and technology are made from a variety of materials, including steel, nonferrous alloys, aluminum, and magnesium.
Due to their appealing design and lighter weight than steel wheels, alloy wheels are growing in popularity. Because aluminum conducts heat, alloy wheels disperse heat from tires and brakes more efficiently than steel wheels. The braking mechanism of a car is significantly influenced by the rims of the wheels. More air can flow to the braking system thanks to the bigger diameter of the wheel rim.
The vehicle’s weight has an impact on how it handles; light vehicles may be controlled well in tire motion. The wheel rims market has expanded significantly during the past few years. The vehicle wheel rims market’s innovations and technological improvements open up new business prospects for automakers. The market for vehicle wheel rims will likely turn a profit over the projected period.
Key Players:
- TSW Alloy Wheels
- Euromax Wheel
- Maxion Wheels
- Voxx Wheel
- MHT Luxury Wheels
- Sota Offroad
- Status Wheels (TUFF A.T)
- Fuel Offroad Wheels
- Wheel Pros LLC.
