Automotive Wheel Market was valued at USD 42.31 Bn. in 2023 and the total Automotive Wheel revenue is expected to grow at 5.9% from 2024 to 2030, reaching nearly USD 63.21 Bn. This upward trend is driven by the increasing demand for lightweight and fuel-efficient vehicles, along with advancements in wheel technology. Leading manufacturers in the automotive wheel industry, such as Ronal Group and Borbet, are focusing on sustainability and innovative designs to meet consumer preferences. The adoption of materials like carbon and magnesium in wheel production further enhances performance while reducing environmental impact. As competition intensifies, these manufacturers are likely to invest in research and development to improve product offerings, ensuring they remain at the forefront of the evolving automotive wheel landscape.

To take advantage of market opportunities, leading manufacturers in the automotive wheel industry, such as Ronal Group, Borbet, and Steel Strips Wheels Ltd (SSWL), are positioned strategically in this competitive market. Prominent players in the industry, like Ronal Group, are utilizing sustainable practices to reduce their carbon emissions by 50% by 2030. Borbet has demonstrated a competitive advantage in advanced materials technology by acquiring Dymag Technologies and adding magnesium and carbon rims to its portfolio. To meet the growing demand for lightweight solutions in the electric vehicle segment, followers such as SSWL are concentrating on product diversification and alloy wheel production. The growth strategies of these players underline the competitive dynamics of the industry, shaping a landscape where customer preferences for sustainability and innovation dictate future trends.
Iochpe-Maxion
Company Headquarters |
Brazil |
Established Year |
1918 |
Company Type |
Public |
Company Website |
www.iochpe.com |
Iochpe-Maxion has strategically positioned itself as a global leader in the automotive wheel industry through a combination of innovation, diversified product offerings, and strategic partnerships. The company leverages its advanced engineering capabilities, particularly through its Maxion Wheels and Maxion Structural Components divisions, to deliver high-quality, lightweight aluminum and forged steel wheels. This focus on light-weighting technology has attracted premium automotive manufacturers, including Ferrari, enhancing their competitive edge in the market. Despite challenges such as the decline in commercial vehicle production in Brazil, Iochpe-Maxion has shown resilience by improving operational efficiency and maintaining a gross margin above previous quarters. Their commitment to sustainability, reflected in a 19.7% reduction in CO2 emissions since 2019, further strengthens their market position. Through continuous product innovation, digital transformation, and global manufacturing reach, Iochpe-Maxion has maintained its leadership in the automotive wheel sector, proving its ability to adapt and thrive in an evolving market landscape.
Steel Strips Wheels Ltd
Company Headquarters |
Chandigarh, India |
Established Year |
1985 |
Company Type |
Public |
Company Website |
sswlindia.com |
Steel Strips Wheels Ltd (SSWL) has reinforced its dominance in the automotive wheel industry through strategic product diversification, innovation, and expanding its market reach. As a major manufacturer of steel and alloy wheels in India, SSWL serves multiple segments of the automotive sector with an extensive range of wheel rim options, including tubeless, multi-piece, high-vent, and weight-optimized wheels. A key strategy has been its shift towards alloy wheel production, which reduces dependence on steel wheels and capitalizes on the rising demand for aluminum wheels. This move is further bolstered by a strategic partnership with one of India’s top passenger car manufacturers, enhancing SSWL’s market reach. The company achieved an 8.01% increase in sales volume, selling 190.33 lakh wheel rims in FY 2023 compared to 176.21 lakh the previous year. While 85% of its revenue comes from the domestic market, SSWL is actively increasing its international footprint to mitigate risks associated with customer concentration. By focusing on new product development and leveraging advanced technologies such as flow forming and high-vent wheel tech, SSWL continues to meet diverse customer needs. Its focus on quality, performance, and customization has ensured its leadership in the industry, while its commitment to innovation keeps it well-positioned for future growth.
RONAL GROUP
Company Headquarters |
Switzerland |
Established Year |
1969 |
Company Type |
Public |
Company Website |
www.ronalgroup.com |
As a frontrunner in the automotive wheel industry, Ronal Group is pioneering sustainability through its PLANBLUE strategy, targeting a 50% reduction in CO2 emissions by 2030 and achieving complete CO2-neutral production by 2050. The company recently achieved a significant milestone at its Landau plant, producing the world’s first light-alloy wheels made entirely from 100% secondary aluminum for the all-electric MINI Cooper SE Convertible, utilizing 40% pre-consumer and 60% post-consumer materials. This focus on recycled materials distinguishes Ronal Group from key competitors, as it prioritizes environmental responsibility alongside quality manufacturing. With a revenue of EUR 1.3 billion and 14 production sites across three continents, the company is committed to increasing the proportion of secondary materials in its wheels to 51% by 2025, while aiming for 20% post-consumer content. Company’s proactive engagement in sustainable practices and transparency in supply chain management enhances its competitive edge, enabling it to cater to environmentally-conscious OEMs and consumers while addressing industry regulations and market demands.
Recent Development:
• On August 2, 2024, Borbet GmbH, a German light alloy wheel manufacturer, has acquired UK-based Dymag Technologies Limited, a maker of carbon and magnesium wheels for cars and motorcycles. This strategic acquisition includes the Dymag brand, patents, production facilities, and the integration of all employees into Dymag Technologies, now a wholly owned subsidiary of Borbet.
• On October 19, 2023, RONAL GROUP announced its technical partnership with Lamborghini Squadra Corse and the development of the motorsport wheel for the Lamborghini SC63 race car. This is expected to participate in the FIA World Endurance Championship and the series of the US automotive sports organization IMSA (International Motor Sport Association) from 2024.
• In September 2023, UNO Minda, a leading manufacturer of automotive components, joined hands with Kosei Aluminum to introduce a new range of alloy wheels in the Indian aftermarket. This strategic collaboration was aimed at expanding the company's product portfolio and offering customers a wider choice of high-quality automotive products nationwide. The new alloy wheels are expected to meet the growing demand for premium-quality automotive components among car enthusiasts and industry professionals alike.