The automotive steel wheels market was valued at US$ 8,009.43 million in 2020 and is projected to reach US$ 10,756.13 million by 2028. The automotive steel wheels market is expected to grow at a CAGR of 4.4% during the forecast period of 2021 to 2028.
Automotive components are getting evolved at rapid rate with advancement in designs, sizes, and materials. The steel wheels are getting lighter in weight with advanced design to enhance fuel efficiency and performance of cars. Medium and heavy-duty trucks (M&HDT) ranging from class 3–8, generally use steel wheels owing to their higher weight carrying capacity as opposed to alloy wheels. Alloy wheels are not a good choice where gross vehicle weight rating is above 6 tons. However, the shifting of customer preference toward the alloy and aluminum wheels in among the key factors expected to hamper the market growth during the forecast period. Alloy wheels have gained a remarkable popularity among the high-end cars. For instance, Koenigsegg Automotive AB uses full carbon fiber wheels on its Regera car.
The increasing adoption of electrical cars over fossil fuel-based cars is propelling the market to offer enhanced products for electric cars. The global automotive steel wheels market is segmented in terms of rim size, vehicle type, end user, and geography. Based on rim size, the automotive steel wheels market is further segmented into 13–15 inches, 16–18 inches, 19–21 inches, and more than 21 inches. In terms of vehicle type, the automotive steel wheels market is further segmented into heavy commercial vehicle, light commercial vehicle, and passenger vehicle. Based on end user, the automotive steel wheels market is further bifurcated into OEM, and aftermarket.
Impact of COVID-19 Pandemic on Automotive Steel Wheels Market
The COVID-19 pandemic has hampered the automobile industry and economic growth of almost every country. Severe impact on the manufacturing sector is witnessed as facilities remained closed for a certain period. Sales of various vehicles such as passenger cars and commercial vehicles is declined. The automotive industry took a major hit as the demand for cars, trucks, buses, and vehicles reduced from every region and end consumers. The revenue model for automobiles has declined due to the low production during the lockdown period. Post-lockdown, the automobile industry started to regain the market share as production facilities restarted their operations with social distancing measures. In addition, the growing inclination toward electric vehicles also helped increase the sale of steel wheels in electric cars for better performance. The COVID-19 pandemic created a major impact on the automobile industry for the first half of 2020; however, after the third quarter, the increasing sale of vehicles supported the market growth.
Lucrative Regions in Automotive steel wheels Market
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Automotive Steel Wheels Market Insights
Growing Demand for Lightweight Steel Wheels
Automobile wheels are made from materials such as steel, aluminum, magnesium, carbon fiber, and other metal combinations. Parameters such as size, weight, material, and designs contribute significantly to wheel performance. Wheel weight has a vital role in the movement and performance of cars, trucks, buses, and bikes. Lower the weight of the wheel, lesser the overall weight of the vehicle, which helps improve fuel consumption.
Rim Size-Based Market Insights
Based on rim size, the automotive steel wheels market has been segmented into 13–15 inches, 16–18 inches, 19–21 inches, and more than 21 inches. If the width of the wheel increases, the size of the tire's sidewall must reduce to preserve the tire's total diameter. It is important to maintain the average tire diameter same to keep the gearing stable and the speedometer correct, as well as to ensure that the wheels and tires match inside the fenders. Thus, wheel size plays an important role in vehicle balance management. Standard road cars generally have wheels that are between 13–15 inches in diameter.
Automotive Steel Wheels Market, by Rim Size– 2020 and 2028
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Vehicle Type-Based Market Insights
In terms of vehicle type, the global automotive steel wheels market is segmented into passenger vehicle, heavy commercial vehicle, and light commercial vehicle. The price of steel wheels is not steady due to the recent rise in demand for large commercial vehicle steel wheels. Furthermore, the increasingly volatile markets for raw materials such as steel have placed financial strain on the vehicle steel wheels manufacturers. For example, Steel Strips Group recently set a price limit for consumers, causing the firm to be unable to accommodate the increase in raw material prices.
End User-Based Market Insights
Based on end user, the global automotive steel wheels market is segmented into OEM and aftermarket. The OEM segment is projected to dominate the market during the forecast period, owing to installation of steel wheels during the car assembly process. The car manufactures are installing the steel wheels to reduce the cost of vehicle and enhance the performance. The low replacement rate and the high level of experience needed for installation have resulted in the concentration of sales of vehicle wheels to OEMs.
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Automotive Steel Wheels Market: Strategic Insights
Market Size Value in US$ 8,009.43 Million in 2020 Market Size Value by US$ 10,756.13 Million by 2028 Growth rate CAGR of 4.4% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Automotive Steel Wheels Market: Strategic Insights
| Market Size Value in | US$ 8,009.43 Million in 2020 |
| Market Size Value by | US$ 10,756.13 Million by 2028 |
| Growth rate | CAGR of 4.4% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Players operating in the automotive steel wheels market focus on strategies such as market initiatives, acquisitions, and product launches to maintain their positions in the automotive steel wheels market. A few developments by key players of the automotive steel wheels market are:
In March 2020, Accuride Corporation announced the introduction of the lightest steel wheel trailer product portfolio for Europe’s commercial vehicle industry. Accuride’s new light weight wheel offers up to four kilograms in weight savings compared to Accuride’s current offering which could represent 32 kilograms weight savings in a tractor-trailer combination.
Automotive Steel Wheels Market – by Rim Size
- 13–15 Inches
- 16–18 Inches
- 19–21 Inches
- More than 21 Inches
Automotive Steel Wheels Market – by Vehicle Type
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
Automotive Steel Wheels Market – by End User
- OEM
- Aftermarket
Automotive Steel Wheels Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Automotive Steel Wheels Market – Company Profiles
- TOPY INDUSTRIES LIMITED
- STEEL STRIPS WHEELS LIMITED
- SHANGHAI BAOSTEEL AUTOPARTS CO. LTD.
- MANGELS
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Fastco Canada
- Central Motor Wheel of America, Inc.
- ALCAR HOLDING GMBH
- Accuride Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Rim Size Vehicle Type , and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The automotive industry is developing advanced components with lower weights to improve vehicle fuel efficiency and performance. The requirement of lightweight steel wheels from vehicles manufactures is driving the market. Also, emergence of the electric car is creating lucrative opportunity for the market. Key factors that are driving growth of the market are growing demand for Increased demand for lightweight steel wheels, increasing low prices automotive components.
The passenger car segment is projected to dominate the demand for automotive steel wheels amid the forecast period. Passenger vehicles account for the majority of overall automotive demand. Furthermore, increasing advances by key OEMs to increase the driving quality and reliability of passenger vehicles would boost the automobile wheel market in this category. The rise in consumer disposable income, especially in developing countries such as China, India, and Mexico, is driving demand for the automotive wheel rim market in the passenger car sector.
The electric power, automotive, manufacturing, and transportation industries are growing in significant rate in developing countries such as India, China, and Brazil. Rise in population and the growing demand for personal commute are the major factors supporting the automotive steel wheels market. Furthermore, the government's growing investment to encourage the introduction of electric vehicles is increasing demand for personal vehicles. For e.g., the Indian government initiated the National Electric Mobility Mission Plan 2020 in 2019 in order to attract domestic manufacturers. The government proposed more than 130 billion in demand incentive investment and 18 billion in R&D investment under this scheme, which will lower the manufacturing cost of electric vehicles and boost sales over the projected timeframe.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Automotive Steel Wheels Market – By Rim Size
1.3.2 Automotive Steel Wheels Market – By Vehicle Type
1.3.3 Automotive Steel Wheels Market – By End User
1.3.4 Global Automotive Steel Wheels Market – By Geography
2. Automotive Steel Wheels Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Automotive Steel Wheels – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 APAC PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South & Central America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Automotive Steel Wheels Market– Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Demand for Lightweight Steel Wheels
5.2 Market Restraints
5.2.1 Rising Popularity of Alloy Wheels
5.3 Market Opportunities
5.3.1 Adoption of Steel Wheels in Electric Power Vehicles
5.4 Future Trends
5.4.1 Technological Advancements in Manufacturing of Automotive Wheels
5.5 Impact analysis
6. Automotive Steel Wheels Market – Global Analysis
6.1 Global Automotive Steel Wheels Market Overview
6.2 Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning
7. Automotive Steel Wheels Market Analysis and Forecast to 2028 – by Rim Size
7.1 Overview
7.2 Automotive Steel Wheels Market, by Rim Size, 2020 & 2028 (% Share)
7.3-15 Inches
7.3.1 Overview
7.3.2-15 Inches: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.4-18 Inches
7.4.1 Overview
7.4.2-18 Inches: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.5-21 Inches
7.5.1 Overview
7.5.2-21 Inches: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
7.6 More than 21 Inches
7.6.1 Overview
7.6.2 More than 21 Inches: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8. Global Automotive Steel Wheels Market Analysis and Forecast to 2028 – Vehicle Type
8.1 Overview
8.2 Automotive Steel Wheels Market, by Vehicle Type, 2020 & 2028 (% Share)
8.3 Heavy Commercial Vehicle
8.3.1 Overview
8.3.2 Heavy Commercial Vehicle: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Light Commercial Vehicle
8.4.1 Overview
8.4.2 Light Commercial Vehicle: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Passenger Vehicle
8.5.1 Overview
8.5.2 Passenger Vehicle: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9. Global Automotive Steel Wheels Market Analysis and Forecast to 2028 – End User
9.1 Overview
9.2 Automotive Steel Wheels Market, by End User, 2020 & 2028 (% Share)
9.3 OEM (Original Equipment Manufacturers)
9.3.1 Overview
9.3.2 OEM: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Aftermarket
9.4.1 Overview
9.4.2 Aftermarket: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
10. Automotive Steel Wheels Market Revenue and Forecast to 2028 Geographical Analysis
10.1 North America Automotive Steel Wheels Market
10.1.1 Overview
10.1.2 North America Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.3 North America Automotive Steel Wheels Market, Revenue and Forecast 2020-2028, By Country (%)
10.1.4 North America: Automotive Steel Wheels Market, By Rim Size
10.1.5 North America: Automotive Steel Wheels Market, By Vehicle Type
10.1.6 North America: Automotive Steel Wheels Market, By End User
10.1.6.1 United States: Automotive Steel Wheels Market
10.1.6.2 Overview
10.1.6.3 United States - Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.6.4 United States: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.6.5 United States: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.6.6 United States: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.7 Canada - Automotive Steel Wheels Market
10.1.7.1 Overview
10.1.7.2 Canada: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.7.3 Canada: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.7.4 Canada: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.7.5 Canada: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.1.8 Mexico - Automotive Steel Wheels Market
10.1.8.1 Overview
10.1.8.2 Mexico: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
10.1.8.3 Mexico: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.1.8.4 Mexico: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.1.8.5 Mexico: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.2 Europe: Automotive Steel Market
10.2.1 Overview
10.2.2 Europe Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.2.3 Europe: Automotive Steel Wheels Market, by Country 2020 & 2028 (%)
10.2.4 Europe: Automotive Steel Wheels Market, By Rim Size
10.2.5 Europe: Automotive Steel Wheels Market, By Vehicle Type
10.2.6 Europe: Automotive Steel Wheels Market, By End User
10.2.8 Germany: Automotive Steel Market
10.2.8.1 Overview
10.2.8.2 Germany: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.2.8.3 Germany Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.2.8.4 Germany Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.2.8.5 Germany Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.2.9 United Kingdom: Automotive Steel Market
10.2.9.1 Overview
10.2.9.2 United Kingdom: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.2.9.3 United Kingdom Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.2.9.4 United Kingdom Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.2.9.5 United Kingdom Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.2.10 France Automotive Steel Market
10.2.10.1 Overview
10.2.10.2 France: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.2.10.3 France Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.2.10.4 France Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.2.10.5 France Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.2.11 Russia: Automotive Steel Market
10.2.11.1 Overview
10.2.11.2 Russia: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.2.11.3 Russia Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.2.11.4 Russia Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.2.11.5 Russia Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.2.12 Italy: Automotive Steel Market
10.2.12.1 Overview
10.2.12.2 Italy: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
10.2.12.3 Italy Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.2.12.4 Italy Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.2.12.5 Italy Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.2.13 Rest of Europe: Automotive Steel Market
10.2.13.1 Overview
10.2.13.2 Rest of Europe: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (USD Million)
10.2.13.3 Rest of Europe Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
10.2.13.4 Rest of Europe Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
10.2.13.5 Rest of Europe Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
10.4 Asia Pacific: Automotive Steel Market
10.4.1 Overview
10.4.2 Asia Pacific: Automotive Steel Wheels Market - Revenue and Forecast to 2028 (USD Million)
10.4.3 Asia Pacific: Automotive Steel Wheels Market, By Rim Size
10.4.4 Asia Pacific: Automotive Steel Wheels Market, By Vehicle Type
10.4.5 Asia Pacific: Automotive Steel Wheels Market, By End-User
10.4.6 Asia Pacific: Automotive Steel Wheels Market, By Country
10.4.7 China: Automotive Steel Market
10.4.7.1 Overview
10.4.7.2 China: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.4.7.2.1 China: Automotive Steel Wheels Market, By Rim Size
10.4.7.2.2 China: Automotive Steel Wheels Market, By Vehicle Type
10.4.7.2.3 China: Automotive Steel Wheels Market, By End-User
10.4.8 India: Automotive Steel Market
10.4.8.1 Overview
10.4.8.2 India: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.4.8.3 India: Automotive Steel Wheels Market, By Rim Size
10.4.8.4 India: Automotive Steel Wheels Market, By Vehicle Type
10.4.8.5 India: Automotive Steel Wheels Market, By End-User
10.4.9 Japan: Automotive Steel Market
10.4.9.1 Overview
10.4.9.2 Japan: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.4.9.3 Japan: Automotive Steel Wheels Market, By Rim Size
10.4.9.4 Japan: Automotive Steel Wheels Market, By Vehicle Type
10.4.9.5 Japan: Automotive Steel Wheels Market, By End-User
10.4.10 South Korea: Automotive Steel Market
10.4.10.1 Overview
10.4.10.2 South Korea: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.4.10.2.1 South Korea: Automotive Steel Wheels Market, By Rim Size
10.4.10.2.2 South Korea: Automotive Steel Wheels Market, By Vehicle Type
10.4.10.2.3 South Korea: Automotive Steel Wheels Market, By End-User
10.4.11 Australia: Automotive Steel Market
10.4.11.1 Overview
10.4.11.2 Australia: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.4.11.3 Australia: Automotive Steel Wheels Market, By Rim Size
10.4.11.4 Australia: Automotive Steel Wheels Market, By Vehicle Type
10.4.11.5 Australia: Automotive Steel Wheels Market, By End-User
10.4.12 Rest of Asia Pacific: Automotive Steel Market
10.4.12.1 Overview
10.4.12.2 Rest of Asia Pacific: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.4.12.3 Rest of Asia Pacific: Automotive Steel Wheels Market, By Rim Size
10.4.12.4 Rest of Asia Pacific: Automotive Steel Wheels Market, By Vehicle Type
10.4.12.5 Rest of Asia Pacific: Automotive Steel Wheels Market, By End-User
10.5 South and Central America: Automotive Steel Wheels Market
10.5.1 Overview
10.5.2 South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.5.3 South and Central America: Automotive Steel Wheels Market, By Rim Size
10.5.4 South and Central America: Automotive Steel Wheels Market, By Vehicle Type
10.5.5 South and Central America: Automotive Steel Wheels Market, By End-User
10.5.6 South and Central America: Automotive Steel Wheels Market, By Country
10.5.7 Brazil: Automotive Steel Market
10.5.7.1 Overview
10.5.7.2 Brazil: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.5.7.3 Brazil: Automotive Steel Wheels Market, By Rim Size
10.5.7.4 Brazil: Automotive Steel Wheels Market, By Vehicle Type
10.5.7.5 Brazil: Automotive Steel Wheels Market, By End-User
10.5.8 Rest of Europe: Automotive Steel Market
10.5.8.1 Overview
10.5.8.2 Argentina: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.5.8.3 Argentina: Automotive Steel Wheels Market, By Rim Size
10.5.8.4 Argentina: Automotive Steel Wheels Market, By Vehicle Type
10.5.8.5 Argentina: Automotive Steel Wheels Market, By End-User
10.5.9 Rest of Europe: Automotive Steel Market
10.5.9.1 Overview
10.5.9.2 Rest of South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
10.5.9.3 Rest of South and Central America: Automotive Steel Wheels Market, By Rim Size
10.5.9.4 Rest of South and Central America: Automotive Steel Wheels Market, By Vehicle Type
10.5.9.5 Rest of South and Central America: Automotive Steel Wheels Market, By End-User
11. Impact Of COVID-19 Pandemic on Global Automotive Steel Wheels Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment Of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 South and Central America: Impact Assessment of COVID-19 Pandemic
11.5 Middle East and Africa: Impact Assessment Of COVID-19 Pandemic
12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Product News
12.3 Partnerships & Collaboration
13. Company Profiles
13.1 TOPY INDUSTRIES LIMITED
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 STEEL STRIPS WHEELS LIMITED
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 SHANGHAI BAOSTEEL AUTOPARTS CO. LTD.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 MANGELS
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Klassic Wheels Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 IOCHPE-MAXION SA
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Fastco Canada
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Central Motor Wheel of America, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 ALCAR HOLDING GMBH
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Accuride Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. North America Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 3. North America Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 4. North America Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. United States: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 6. United States: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 7. United States: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 8. Canada: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 10. Canada: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 11. Mexico: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 12. Mexico: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico: Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 14. Europe Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 15. Europe Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 16. Europe Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 17. Germany Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 18. Germany Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 19. Germany Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 20. United Kingdom Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 21. United Kingdom Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 22. United Kingdom Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 23. France Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 24. France Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 25. France Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 26. Russia Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 27. Russia Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 28. Russia Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 29. Italy Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 30. Italy Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 31. Italy Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 32. Rest of Europe Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 33. Rest of Europe Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 34. Rest of Europe Automotive Steel Wheels Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 35. Asia Pacific Automotive Steel Wheels Market, By Rim Size – Revenue and Forecast to 2028 (US$ Million)
Table 36. Asia Pacific: Automotive Steel Wheels Market, By Vehicle Type– Revenue and Forecast to 2028 (US$ Million)
Table 37. Asia Pacific Automotive Steel Wheels Market, By End-User – Revenue and Forecast to 2028 (US$ Million)
Table 38. China: Automotive Steel Wheels Market, By Rim Size – Revenue and Forecast to 2028 (US$ Million)
Table 39. China: Automotive Steel Wheels Market, By Vehicle Type – Revenue and Forecast to 2028 (US$ Million)
Table 40. China: Automotive Steel Wheels Market, By End-User – Revenue and Forecast to 2028 (US$ Million)
Table 41. India: Automotive Steel Wheels Market, By Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 42. India: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 43. India: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 44. Japan: Automotive Steel Wheels Market, By Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 45. Japan: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 46. Japan: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 47. South Korea: Automotive Steel Wheels Market, By Rim Size – Revenue and Forecast to 2028 (US$ Million)
Table 48. South Korea: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 49. South Korea: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 50. Australia: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 51. Australia: Automotive Steel Wheels Market, by Vehicle Type– Revenue and Forecast to 2028 (US$ Million)
Table 52. Australia: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 53. Rest of Asia Pacific: Automotive Steel Wheels Market, By Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 54. Rest of Asia Pacific: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 55. Rest of Asia Pacific: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 56. South and Central America: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 57. South and Central America: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 58. South and Central America: Automotive Steel Wheels Market, By End-User – Revenue and Forecast to 2028 (US$ Million)
Table 59. Brazil: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 60. Brazil: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 61. Brazil: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 62. Argentina: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 63. Argentina: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 64. Argentina: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 65. Rest of South and Central America: Automotive Steel Wheels Market, by Rim Size – Revenue and Forecast to 2028 (USD Million)
Table 66. Rest of South and Central America: Automotive Steel Wheels Market, by Vehicle Type – Revenue and Forecast to 2028 (USD Million)
Table 67. Rest of South and Central America: Automotive Steel Wheels Market, by End-User – Revenue and Forecast to 2028 (USD Million)
Table 68. Glossary of Terms, Automotive Steel Wheels Market
LIST OF FIGURES
Figure 1. Automotive Steel Wheels Market Segmentation
Figure 2. Automotive Steel Wheels Market – By Geography
Figure 3. Automotive Steel Wheels Market Overview
Figure 4.-15 Inch Rim Size Segment Held Largest Share of Automotive Steel Wheels Market in 2020
Figure 5. Automotive Steel Wheels Market in MEA Region to Show Remarkable Growth During Forecast Period
Figure 6. Global Automotive Steel Wheels Market, By Geography (US$ Million)
Figure 7. North America Pest Analysis
Figure 8. Europe: PEST Analysis
Figure 9. APAC: PEST Analysis
Figure 10. Middle East & Africa: PEST Analysis
Figure 11. South & Central America: PEST Analysis
Figure 12. Ecosystem Analysis
Figure 13. Expert Opinion
Figure 14. Automotive Steel Wheels Market Impact Analysis of Driver and Restraints
Figure 15. Geographic Overview of Automotive Steel Wheels Market
Figure 16. Automotive Steel Wheels Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Automotive Steel Wheels Market, By Rim Size, 2020 & 2028 (% Share)
Figure 18.-15 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 19.-18 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 20.-21 Inches Market Revenue and Forecast to 2028 (US$ Mn)
Figure 21. More than 21 Inches: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 22. Automotive Steel Wheels Market, By Vehicle Type, 2020 & 2028 (% Share)
Figure 23. Heavy Commercial Vehicle: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. Light Commercial Vehicle: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 25. Passenger Vehicle: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 26. Automotive Steel Wheels Market, By End User, 2020 & 2028 (% Share)
Figure 27. OEM: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 28. Aftermarket: Automotive Steel Wheels Market Revenue and Forecast to 2028 (US$ Mn)
Figure 29. North America Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 30. North America Automotive Steel Wheels Market, Revenue and Forecast To 2020-2028, By Country (%)
Figure 31. North America Automotive Steel Wheels Market Revenue Share, by Rim Size (2020 and 2028)
Figure 32. North America Automotive Steel Wheels Market Revenue Share, by Vehicle Type (2018 and 2028)
Figure 33. North America Automotive Steel Wheels Market Revenue Share, by End User (2020 and 2028)
Figure 34. US Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 35. Canada: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 36. Mexico: Automotive Steel Wheels Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 37. Europe: Automotive Steel Wheels Market, by Key Country – Revenue (2020) (USD Million)
Figure 38. Europe: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 39. Europe Automotive Steel Wheels Market by Country 2020 & 2028 (%)
Figure 40. Europe Automotive Steel Wheels Market Revenue Share, by Rim Size (2020 and 2028)
Figure 41. Europe Automotive Steel Wheels Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 42. Europe Automotive Steel Wheels Market Revenue Share, by End User (2018 and 2028)
Figure 43. Germany: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 44. United Kingdom: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 45. France: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 46. Russia: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 47. Italy: Automotive Steel Wheels Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 48. Rest of Europe: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (USD Million)
Figure 49. Asia Pacific Automotive Steel Wheels Market Revenue and Forecast to 2028 (USD Million)
Figure 50. Asia Pacific: Automotive Steel Wheels Market Revenue Share, By Rim Size (2020 and 2028)
Figure 51. Asia Pacific: Automotive Steel Wheels Market Revenue Share, By Vehicle Type (2020 and 2028)
Figure 52. Asia Pacific: Automotive Steel Wheels Market Revenue Share, By End-User (2020 and 2028)
Figure 53. Asia Pacific: Automotive Steel Wheels Market Revenue Share, By Country (2020 and 2028)
Figure 54. China: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. India: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. Japan: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. South Korea: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 58. Australia: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 59. Rest of Asia Pacific: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. South and Central America: Automotive Steel Wheels Market Revenue Share, By Rim Size (2020 and 2028)
Figure 62. South and Central America: Automotive Steel Wheels Market Revenue Share, By Vehicle Type (2020 and 2028)
Figure 63. South and Central America: Automotive Steel Wheels Market Revenue Share, By End-User (2020 and 2028)
Figure 64. South and Central America: Automotive Steel Wheels Market Revenue Share, By Country (2020 and 2028)
Figure 65. Brazil: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 66. Argentina: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 67. Rest of South and Central America: Automotive Steel Wheels Market – Revenue and Forecast to 2028 (US$ Million)
Figure 68. Impact Of COVID-19 Pandemic in North American Country Markets
Figure 69. Impact of COVID-19 Pandemic in European Country Markets
Figure 70. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 71. Impact Of COVID-19 Pandemic in South and Central America Countries Market
Figure 72. Impact Of COVID-19 Pandemic in Middle East and Africa Countries Market
The List of Companies - Automotive Steel Wheels Market
- TOPY INDUSTRIES LIMITED
- STEEL STRIPS WHEELS LIMITED
- SHANGHAI BAOSTEEL AUTOPARTS CO. LTD.
- MANGELS
- Klassic Wheels Ltd.
- IOCHPE-MAXION SA
- Fastco Canada
- Central Motor Wheel of America, Inc.
- ALCAR HOLDING GMBH
- Accuride Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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