Automotive wheel aftermarket trends

Wheels are an important part of vehicles and their needs are closely related to the automotive industry. Wheels should be strong enough to support the weight of the vehicle and withstand the forces generated during operation. A car wheel is a rotating part that distributes the power of the axle to the road surface. It can also be used as a technology to secure the tires. The rim, spokes and hub make up the car wheel.

Alloy wheels are increasingly popular due to their eye-catching appearance, they are lighter than steel wheels and absorb heat from the tires and brakes more efficiently. The automotive wheels market is witnessing significant growth in both mature and emerging regions, driven by the shift towards lighter and more aesthetically pleasing vehicles. In order to cope with the growing environmental problems, automobile giants are increasingly focusing on the production of lightweight vehicles.

Automobile hub after-sales market segmentation analysis

The alloy wheels aftermarket is broadly segmented based on vehicle type, material type, coating type, rim size, and region. Based on the car model, the automotive wheel aftermarket is divided into two categories: passenger cars and commercial vehicles. The passenger car segment is further divided into two types based on performance: basic and racing. The passenger car segment accounts for the majority of the market share. The market is segmented on the basis of material into alloy, aluminum, carbon fiber, and steel. The alloy wheels segment is expected to grow at the fastest pace over the estimated period owing to increasing demand for lightweight materials to meet stringent emission requirements and enhanced vehicle dynamics with lightweight alloy wheels. Based on the type of coating used, the market is divided into two categories: powder coatings and liquid coatings. The powder segment holds the largest market share. The liquid coatings segment is expected to grow at a rapid pace over the projected period.