Asia Pacific Automotive Steel Wheels Market Size & Outlook
The automotive steel wheels market in Asia Pacific is expected to reach a projected revenue of US$ 8,646.1 million by 2030. A compound annual growth rate of 2.9% is expected of Asia Pacific automotive steel wheels market from 2024 to 2030.
Revenue, 2023 (US$M)
$7,097.9
Forecast, 2030 (US$M)
$8,646.1
CAGR, 2024 - 2030
2.9%
Report Coverage
Asia Pacific
Asia Pacific automotive steel wheels market, 2018-2030 (US$M)
Asia Pacific automotive steel wheels market highlights
- The Asia Pacific automotive steel wheels market generated a revenue of USD 7,097.9 million in 2023.
- The market is expected to grow at a CAGR of 2.9% from 2024 to 2030.
- In terms of segment, heavy commercial vehicle was the largest revenue generating vehicle type in 2023.
- Heavy Commercial Vehicle is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 7,097.9 million |
| Market revenue in 2030 | USD 8,646.1 million |
| Growth rate | 2.9% (CAGR from 2023 to 2030) |
| Largest segment | Heavy commercial vehicle |
| Fastest growing segment | Heavy Commercial Vehicle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Heavy Commercial Vehicle |
| Key market players worldwide | Titan International Inc, Automotive Wheels, Central Motor Wheel Of America, Alcar Holding, Topy America, Inc., CLN Group, Klassic Wheels, Steel Strips Wheels, Maxion Wheels, Thyssenkrupp AG, U.S. Wheel |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 47.5% of the global automotive steel wheels market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,646.1 million by 2030.
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Automotive Steel Wheels Market Scope
Automotive steel wheels market segmentation & scope
Application
OEM
Aftermarket
Countries
U.S.
Canada
Mexico
UK
Germany
France
Italy
Sweden
Norway
Denmark
India
Japan
China
Australia
Thailand
South Korea
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
Spain
Automotive Steel Wheels Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific automotive steel wheels market
Related regional statistics
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