Belgium: Road Wheel Market 2024

Road Wheel Market Size in Belgium

In 2022, the Belgian road wheel market increased by 11% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +42.4% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Road Wheel Production in Belgium

In value terms, road wheel production fell to $X in 2022 estimated in export price. In general, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 235% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Road Wheel Exports

Exports from Belgium

In 2022, approx. X tons of road wheels were exported from Belgium; waning by -35% on the previous year's figure. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 15% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, road wheel exports contracted to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 24%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for road wheel exports from Belgium, with a 38% share of total exports. Moreover, road wheel exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Sweden (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France amounted to +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-0.6% per year) and Sweden (-17.9% per year).

In value terms, Sweden ($X), France ($X) and Germany ($X) were the largest markets for road wheel exported from Belgium worldwide, with a combined 72% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +8.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, jumping by 39% against the previous year. In general, the export price continues to indicate a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Road Wheel Imports

Imports into Belgium

In 2022, imports of road wheels into Belgium contracted dramatically to X tons, with a decrease of -23% on 2021 figures. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, road wheel imports fell to $X in 2022. In general, imports showed a mild decrease. The growth pace was the most rapid in 2017 with an increase of 18% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Turkey (X tons) and Poland (X tons) were the main suppliers of road wheel imports to Belgium, with a combined 77% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest road wheel suppliers to Belgium were Germany ($X), Poland ($X) and Turkey ($X), together accounting for 80% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +10.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average road wheel import price amounted to $X per ton, increasing by 18% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price 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, road wheel import price increased by +64.0% against 2014 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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