ASEAN: Road Wheel Market 2025

Road Wheel Market Size in ASEAN

The ASEAN road wheel market was estimated at $X in 2022, remaining constant against the previous year. Over the period under review, consumption continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 when the market value increased by 4.8% against the previous year. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Road Wheel Production in ASEAN

In value terms, road wheel production contracted modestly to $X in 2022 estimated in export price. Overall, production saw a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 5% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Road Wheel Exports

Exports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas shipments of road wheels, when their volume decreased by -5.8% to X tons. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.9% against 2013 indices. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, road wheel exports expanded to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.9% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of 28%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Thailand (X tons) represented the key exporter of road wheels, making up 61% of total exports. It was distantly followed by Indonesia (X tons), Vietnam (X tons) and Malaysia (X tons), together creating a 37% share of total exports.

Exports from Thailand increased at an average annual rate of +11.0% from 2012 to 2022. At the same time, Vietnam (+12.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +12.5% from 2012-2022. By contrast, Malaysia (-1.2%) and Indonesia (-1.8%) illustrated a downward trend over the same period. While the share of Thailand (+27 p.p.) and Vietnam (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-4.9 p.p.) and Indonesia (-22 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest road wheel supplier in ASEAN, comprising 59% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 25% share of total exports. It was followed by Vietnam, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to +9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-0.1% per year) and Vietnam (+11.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of 11% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Indonesia ($X per ton), while Thailand ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Road Wheel Imports

Imports in ASEAN

In 2022, after two years of growth, there was decline in supplies from abroad of road wheels, when their volume decreased by -2.7% to X tons. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell modestly in the following year.

In value terms, road wheel imports stood at $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +107.5% against 2014 indices. The pace of growth was the most pronounced in 2021 with an increase of 34%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Thailand was the key importing country with an import of about X tons, which amounted to 48% of total imports. It was distantly followed by Indonesia (X tons), Malaysia (X tons) and Vietnam (X tons), together mixing up a 47% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to road wheel imports into Thailand stood at +5.2%. At the same time, Indonesia (+7.1%) and Vietnam (+4.6%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +7.1% from 2012-2022. By contrast, Malaysia (-1.3%) and Singapore (-2.5%) illustrated a downward trend over the same period. Thailand (+7.7 p.p.) and Indonesia (+6.3 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and Malaysia saw its share reduced by -1.6% and -11.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported road wheels in ASEAN, comprising 46% of total imports. The second position in the ranking was held by Malaysia ($X), with a 20% share of total imports. It was followed by Indonesia, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand totaled +6.3%. In the other countries, the average annual rates were as follows: Malaysia (-0.2% per year) and Indonesia (+9.8% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, rising by 6.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2019 when the import price increased by 22% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform