Automotive Wheel Market Size

Automotive Wheel Market size is estimated at USD 48.8 billion in 2024 and is expected to cross USD 103.9 billion by the end of 2037, growing at more than 6.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive wheels is evaluated at USD 51.9 billion.

Over the years, the automotive wheel market has grown due to the demand for alloy wheels, the rising manufacturing of electric vehicles, and the popularity of vehicle fuel economy concerns. The ongoing transformation in the global automotive industry bodes well for the future of more innovations and advancements in the materials used. Strong and lightweight polymer nanocomposites are being increasingly used for fuel efficiency. Carbon fiber, including Epoxy Carbon UD 395 GPa Prepreg and Epoxy Carbon UD 230 GPa Prepreg is also an excellent material choice for designing automotive wheel rims. They deliver better outcomes in comparison to aluminum alloy counterparts.