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Europe Automotive Aluminum Wheels Market Size, Share & Trends Analysis Report By Propulsion Type (ICE and Electric), By Wheel Size, By Vehicle Type, By Distribution Channel (Aftermarket and OEM), By Country and Growth Forecast, 2024 - 2031

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    Report

  • 128 Pages
  • May 2024
  • Region: Europe
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5978663
The Europe Automotive Aluminum Wheels Market would witness market growth of 6.9% CAGR during the forecast period (2024-2031).

Automotive Aluminum Wheels are lightweight, durable, and stylish components used in Internal Combustion Engine (ICE) propelled vehicles. These wheels are crafted from high-strength Aluminum alloys, offering a balance of strength and weight reduction benefits. Their lightweight nature enhances overall vehicle performance by reducing unsprung mass, which translates to improved handling, acceleration, and fuel efficiency. Therefore, the Germany market would utilize7.16 million units of Aluminum Wheels in Internal Combustion Engine (ICE) propelled vehicles by 2031.



The Germany market dominated the Europe Automotive Aluminum Wheels Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of$2.00 billion by 2031. The UK market is experiencing a CAGR of 6.4% during (2024 - 2031). Additionally, The France market would exhibit a CAGR of 7.7% during (2024 - 2031).

The market has witnessed significant growth in recent years, driven by increasing consumer preference for lightweight and high-performance wheels, stringent fuel efficiency regulations, and the growing demand for aesthetically appealing vehicles. Aluminum wheels offer several advantages over traditional steel wheels, including reduced weight, improved fuel efficiency, enhanced handling and performance, and corrosion resistance.

In addition, Aluminum wheel adoption has increased consistently in the automotive industry due to automakers' efforts to reduce vehicle weight and enhance fuel economy. They are now a standard feature in many modern vehicles across different segments, ranging from compact cars to luxury SUVs and sports cars. Additionally, the aftermarket demand for Aluminum wheels has been growing, with consumers seeking to upgrade their vehicles for performance and aesthetics.

Moreover, with the rapid expansion of the electric vehicle industry in Europe, it is anticipated that the demand for aluminum wheels, which are essential components of electric vehicles, will increase in direct correlation. According to data from the International Energy Agency, after the surge in 2020, electric vehicle sales in Europe increased by over 65 percent annually to 2.3 million in 2021. Norway (86 percent), Iceland (72 percent), Sweden (43%), and the Netherlands (30 percent) were expected to hold the largest market shares for new electric vehicle sales in Europe in 2021, followed by France (19 percent), Italy (9 percent), and Spain (8%). Thus, the expansion of the automotive sector and increasing electric vehicle numbers in Europe will drive the growth of the regional automotive aluminum wheels market.

Based on Propulsion Type, the market is segmented into ICE and Electric. Based on Wheel Size, the market is segmented into Less Than 15, 16 to 20 and More than 21. Based on Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicle Bus and Trucks. Based on Distribution Channel, the market is segmented into Aftermarket and OEM. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

List of Key Companies Profiled

  • Wheel Pros, LLC
  • Howmet Aerospace Inc.
  • OTTO FUCHS KG (Otto Fuchs Beteiligungen KG)
  • BBS Japan Co., Ltd. (MAEDAKOSEN CO., LTD.)
  • Iochpe-Maxion S.A.
  • RONAL AG
  • Accuride Corporation (Crestview Advisors, L.L.C.)
  • CITIC Limited

Market Report Segmentation

By Propulsion Type (Volume, Thousand Units, USD Billion, 2020-2031)

  • ICE
  • Electric

By Wheel Size (Volume, Thousand Units, USD Billion, 2020-2031)

  • Less Than 15
  • 16 to 20
  • More than 21

By Vehicle Type (Volume, Thousand Units, USD Billion, 2020-2031)

  • Passenger Car
  • Light Commercial Vehicle
  • Bus
  • Trucks

By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)

  • Aftermarket
  • OEM

By Country (Volume, Thousand Units, USD Billion, 2020-2031)

  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Automotive Aluminum Wheels Market, by Propulsion Type
1.4.2 Europe Automotive Aluminum Wheels Market, by Wheel Size
1.4.3 Europe Automotive Aluminum Wheels Market, by Vehicle Type
1.4.4 Europe Automotive Aluminum Wheels Market, by Distribution Channel
1.4.5 Europe Automotive Aluminum Wheels Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Europe Automotive Aluminum Wheels Market by Propulsion Type
4.1 Europe ICE Market by Country
4.2 Europe Electric Market by Country
Chapter 5. Europe Automotive Aluminum Wheels Market by Wheel Size
5.1 Europe Less Than 15 Market by Country
5.2 Europe 16 to 20 Market by Country
5.3 Europe More than 21 Market by Country
Chapter 6. Europe Automotive Aluminum Wheels Market by Vehicle Type
6.1 Europe Passenger Car Market by Country
6.2 Europe Light Commercial Vehicle Market by Country
6.3 Europe Bus Market by Country
6.4 Europe Trucks Market by Country
Chapter 7. Europe Automotive Aluminum Wheels Market by Distribution Channel
7.1 Europe Aftermarket Market by Country
7.2 Europe OEM Market by Country
Chapter 8. Europe Automotive Aluminum Wheels Market by Country
8.1 Germany Automotive Aluminum Wheels Market
8.1.1 Germany Automotive Aluminum Wheels Market by Propulsion Type
8.1.2 Germany Automotive Aluminum Wheels Market by Wheel Size
8.1.3 Germany Automotive Aluminum Wheels Market by Vehicle Type
8.1.4 Germany Automotive Aluminum Wheels Market by Distribution Channel
8.2 UK Automotive Aluminum Wheels Market
8.2.1 UK Automotive Aluminum Wheels Market by Propulsion Type
8.2.2 UK Automotive Aluminum Wheels Market by Wheel Size
8.2.3 UK Automotive Aluminum Wheels Market by Vehicle Type
8.2.4 UK Automotive Aluminum Wheels Market by Distribution Channel
8.3 France Automotive Aluminum Wheels Market
8.3.1 France Automotive Aluminum Wheels Market by Propulsion Type
8.3.2 France Automotive Aluminum Wheels Market by Wheel Size
8.3.3 France Automotive Aluminum Wheels Market by Vehicle Type
8.3.4 France Automotive Aluminum Wheels Market by Distribution Channel
8.4 Russia Automotive Aluminum Wheels Market
8.4.1 Russia Automotive Aluminum Wheels Market by Propulsion Type
8.4.2 Russia Automotive Aluminum Wheels Market by Wheel Size
8.4.3 Russia Automotive Aluminum Wheels Market by Vehicle Type
8.4.4 Russia Automotive Aluminum Wheels Market by Distribution Channel
8.5 Spain Automotive Aluminum Wheels Market
8.5.1 Spain Automotive Aluminum Wheels Market by Propulsion Type
8.5.2 Spain Automotive Aluminum Wheels Market by Wheel Size
8.5.3 Spain Automotive Aluminum Wheels Market by Vehicle Type
8.5.4 Spain Automotive Aluminum Wheels Market by Distribution Channel
8.6 Italy Automotive Aluminum Wheels Market
8.6.1 Italy Automotive Aluminum Wheels Market by Propulsion Type
8.6.2 Italy Automotive Aluminum Wheels Market by Wheel Size
8.6.3 Italy Automotive Aluminum Wheels Market by Vehicle Type
8.6.4 Italy Automotive Aluminum Wheels Market by Distribution Channel
8.7 Rest of Europe Automotive Aluminum Wheels Market
8.7.1 Rest of Europe Automotive Aluminum Wheels Market by Propulsion Type
8.7.2 Rest of Europe Automotive Aluminum Wheels Market by Wheel Size
8.7.3 Rest of Europe Automotive Aluminum Wheels Market by Vehicle Type
8.7.4 Rest of Europe Automotive Aluminum Wheels Market by Distribution Channel
Chapter 9. Company Profiles
9.1 Wheel Pros, LLC
9.1.1 Company Overview
9.1.2 Recent strategies and developments:
9.1.2.1 Acquisition and Mergers:
9.2 Howmet Aerospace Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expenses
9.3 Otto Fuchs KG (Otto Fuchs Beteiligungen KG)
9.3.1 Company Overview
9.4 BBS Japan Co., Ltd. (Maedakosen Co., Ltd.)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.5 Iochpe-Maxion S.A.
9.5.1 Company Overview
9.6 Accuride Corporation (Crestview Advisors, L.L.C.)
9.6.1 Company Overview
9.7 CITIC Limited
9.7.1 Company Overview
9.7.2 Financial Analysis
9.8 Ronal AG
9.8.1 Company Overview

Companies Mentioned

  • Wheel Pros, LLC
  • Howmet Aerospace Inc.
  • OTTO FUCHS KG (Otto Fuchs Beteiligungen KG)
  • BBS Japan Co., Ltd. (MAEDAKOSEN CO., LTD.)
  • Iochpe-Maxion S.A.
  • RONAL AG
  • Accuride Corporation (Crestview Advisors, L.L.C.)
  • CITIC Limited

Methodology

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