Modified Wheels Market was valued at USD 5.5 Billion in 2022 and is projected to reach USD 9.2 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The global modified wheels market has experienced significant shifts between 2018 and 2022, with a steady rise in demand driven by consumer preferences for customized and high-performance vehicles. The demand during this period was influenced by an increasing number of car enthusiasts and the growing popularity of motorsport events, alongside the expanding aftermarket automotive parts industry. Customization became a key factor, and consumers increasingly sought wheels that provided better aesthetics, durability, and performance enhancements. Manufacturers responded by producing wheels with advanced materials such as lightweight alloys and carbon fiber, catering to the high-end automobile sector.
Looking ahead to the demand outlook from 2023 to 2033, there are several key trends and factors set to impact the modified wheels market. One significant driver will be the expanding electric vehicle (EV) market, where custom wheels will play an important role in enhancing vehicle design and performance. EV manufacturers are focusing on reducing weight and improving energy efficiency, which is expected to boost demand for lightweight modified wheels. Additionally, innovations in wheel design and material technology, including the use of sustainable materials, will likely shape the market dynamics in the coming decade.
In the forecast period, it is expected that the growth rate of the modified wheels market will continue at a healthy pace, with manufacturers increasingly offering products tailored to specific vehicle types, from luxury cars to off-road vehicles. The growth of the global automotive industry, particularly in emerging markets such as India, China, and Southeast Asia, will provide ample opportunities for aftermarket suppliers. Furthermore, digitalization, with online platforms offering a wider range of customized wheels, will make it easier for consumers to personalize their vehicles with the latest trends in wheel designs.
The growing demand for performance-enhancing and visually appealing wheels is expected to fuel increased production and competition among manufacturers. As a result, prices may become more competitive, making modified wheels more accessible to a broader range of consumers. The market will also see a rise in the development of wheels that are not only aesthetically pleasing but also have superior functionality, such as improved shock absorption and durability for varying road conditions.
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OZ SpA
RAYS
BBS
ENKEI
ALCAR Group
Dibite
CN-Jinma
DCenti
YHI Group（Advanti Racing）
WELLNICE
Shanghai Fengtu Auto Tech
Anhui Faster-wheel
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Modified Wheels Market
Ordinary Car
Racing Car
Based on Types the Market is categorized into Below types that held the largest Modified Wheels market share In 2023.
One Piece Forging
Two-Piece Forging
Three Piece Forging
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Modified Wheels Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Modified Wheels Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Modified Wheels Market, By Type
6. Global Modified Wheels Market, By Application
7. Global Modified Wheels Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Modified Wheels Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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