Global Automotive Carbon Wheels Market to Reach US$ 1,856.9 Million by 2032, Stimulated by Advancements in Carbon Fiber Manufacturing

December 28, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “Automotive Carbon Wheels Market by Vehicle Type (Two Wheelers, Passenger Cars, Commercial Vehicles), Distribution Channel (OEM, Aftermarket), and Region 2024-2032,” the global automotive carbon wheels market size reached US$ 868.4 Million in 2023. Automotive carbon wheels, also known as carbon fiber wheels or carbon composite wheels, are a type of wheel used in vehicles. They are constructed using carbon fiber-reinforced composites, which consist of carbon fibers embedded in a resin matrix. They are created through advanced manufacturing techniques, such as autoclave curing or resin transfer molding, to achieve precise structural integrity. They improve acceleration, braking, and handling and enhance the performance of a vehicle by reducing rotational inertia, resulting in quicker acceleration. They contribute to improved fuel efficiency and offer improved grip and reduced rolling resistance, leading to better cornering and overall vehicle control. They also contribute to the visual appeal of a vehicle, giving it a modern and sporty look.

Global Automotive Carbon Wheels Market Trends:

As automakers seek to improve fuel efficiency and reduce emissions, the adoption of carbon fiber wheels is gaining traction. Besides this, the rising demand for vehicles with superior performance characteristics, including, improved handling and enhanced braking capabilities among automotive enthusiasts and sports car fanatics is contributing to the market growth. In addition, advancements in carbon fiber manufacturing technology are leading to the increasing affordability and availability of carbon wheels. Traditional challenges, such as high production costs and limited scalability, are mitigated, making carbon wheels a more viable option for a broader range of vehicles. Apart from this, the rising popularity of carbon fiber as a recyclable material with a significantly lower environmental impact compared to metals like aluminum and steel is supporting the market growth. As global awareness of sustainability issues grows, automakers are increasingly considering the environmental impact of their products, and carbon wheels align with this ethos. Additionally, the rising purchase of passenger cars to travel comfortably and avoid the hassle of public transportation is strengthening the market growth. Looking forward, the market value is projected to reach US$ 1,856.9 Million by 2032, expanding at a CAGR of 8.5% during 2024-2032.

Market Summary:

  • Based on the vehicle type, the market has been segmented into two wheelers, passenger cars, and commercial vehicles. Passenger cars currently dominate the market.
  • On the basis of the distribution channel, OEM exhibits a clear dominance in the market, followed by the aftermarket.
  • Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these Europe enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Carbon Revolution Limited, Dymag Group Limited, ESE Carbon Company, HRE Wheels, Litespeed Racing LLC, Rolko Kohlgrüber GmbH (INDUS Holding AG), and Rotobox d.o.o.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Vehicle Types Covered Two Wheelers, Passenger Cars, Commercial Vehicles
Distribution Channels Covered OEM, Aftermarket
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Carbon Revolution Limited, Dymag Group Limited, ESE Carbon Company, HRE Wheels, Litespeed Racing LLC, Rolko Kohlgrüber GmbH (INDUS Holding AG), and Rotobox d.o.o.
Customization Scope 10% Free Customization
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Global Automotive Carbon Wheels Market to Reach US$ 1,856.9 Million by 2032, Stimulated by Advancements in Carbon Fiber Manufacturing
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